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Bezant Resources (LSE:BZT) has announced the successful issuance of an environmental clearance certificate (ECC) for exploration licence EPL7170, which is part of the Hope & Gorob Copper-Gold Project in Namibia. This certificate, valid until 12 August 2027, enables the company to continue exploration activities on this critical project extension.
The renewal of EPL7170, which extends the licence until 22 October 2025, was dependent on securing the ECC. With the certificate now granted, Bezant Resources can advance exploration on the 30-kilometer section of the Matchless Belt geology covered by EPL7170. This area has already produced significant findings, including 15 million tonnes of JORC 2012 compliant mineral resources within the adjacent Hope & Gorob Mining Licence.
In addition to the ECC achievement, Bezant confirmed that the renewal process for the EPL 5796 exploration licence, associated with the project, is ongoing. This continued process is expected to support further exploration and development in the region.
Chairman Colin Bird expressed satisfaction with the renewal of the exploration licence, highlighting its strategic importance. The licence, located northeast of the main Hope and Gorob licence, shares similar geological features with the Matchless Copperbelt. Previous airborne geophysical surveys have identified potentially significant anomalies in the area, which will be subject to follow-up investigations.
The exploration licence is part of an almost contiguous belt of prospective ground alongside Hope and Gorob, which may contain extensions to the existing mineralization or potentially host a separate resource. This could contribute to a larger mining operation in the future.
As of 1100 BST, shares in Bezant Resources had declined by 9.68%, trading at 0.03p. Despite the setback in share performance, the issuance of the ECC represents a significant milestone for the company, paving the way for continued exploration and development within the Hope & Gorob project.
