(Alliance News) - Bezant Resources PLC on Monday said that it has signed an exclusive collaboration agreement with PCB Mining Ltd in relation to its small scale exploration licence, 24988-HQ-LEL, in Zambia.
Bezant is a copper and gold exploration company with projects in Africa, South America and the Philippines.
According to the deal, Bezant will earn a 15% interest in the PCB licence by providing a project restart plan for PCB Mining and assisting PCB Mining in obtaining financing for the project restart.
"We are pleased that Bezant is entering Zambia which, although primarily associated with copper in recent years has also become highly prospective for gold and other commodities. The PCB Project area has been the subject of active artisanal mining and our technical team has previously visited the PCB project site and identified a 5-6 metre wide quartz vein potentially hosting gold that is of indeterminate length," said Executive Chair Colin Bird.
Shares in Bezant Resources closed up 2.2% at 0.023 pence each in London on Monday.
By Holly Beveridge, Alliance News reporter
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