Bezant has confirmed that it had now made the final payment due with respect to its exercise of the option held by Ulloa Recursos Naturales, its wholly-owned Colombian subsidiary, over two alluvial platinum and gold licences located in Choco, Colombia.
It said that the final option payment of US$200,000, Bezant, via Ulloa, now held a 100% interest in the licences, which cover a total area of approximately 2,659ha
Following test pitting and sampling of the 91ha HGE-082 licence and evaluation of its economical viability the company has decided not to exercise its remaining option over HGE-082 but to instead focus on the larger and more prospective FKJ-083 and HCA-082 licences.
Non-executive chairman Edward Nealon said: 'We are pleased to confirm that, following the Final Option Payment, Bezant now holds a 100% interest in the FKJ-083 and HCA-082 licences in Colombia.
'Following our extensive extraction work completed on FKJ-083, grade testing results and completion of the Option exercise, the company now owns a significant land package within the Choco gold-platinum region.
'As announced previously, the company is currently perusing asset level development / funding routes for its Colombian gold-platinum production portfolio and it is expected that completion of the Option exercise will assist us with this strategy.'