Bezant Resources shares (LON:BZT) rose on Wednesday after the mining company announced a new study.

The firm announced it had commissioned a mining study by Mining Plus to evaluate its mining options in high grade areas at its Mankayan copper-gold project.

Laurence Read, Chief Executive of Bezant Resources, commented on the study:

“As CEO, I am pleased that we shall be progressing the Mankayan copper gold project following the results of extensive in-house geological and engineering work over the course of the last year.

“Our understanding of Mankayan has grown significantly and the potential for exploiting high grade resource areas needs to be independently examined. While the current, 20 Mtpa economic scenario for Mankayan is highly robust and comparable to a series of successful, currently operating, third party projects we believe that there may well be a viable alternate mining system that can be implemented within the Lift 1 area of the existing model.

“Mankayan is a significant potential source of long-term copper gold-supply and the results of the new Mining Study may allow Bezant to pursue new avenues for the project if production scenarios, with reduced upfront capital expenditure, can be determined.

“Mining Plus is a major, internationally recognised mining services provider who have successfully worked with a host of mining companies to deliver projects into first production and I look forward to working with them.”

Bezant Resources was founded back in 1994. The company is listed on the junior AIM-market of the London Stock Exchange.

Its assets include the Mankayan project as well as the Eureka Project, both located in the Philippines.

Shares rose on the back of the announcement.

Shares in Bezant Resources are currently +9.52% as of 11:08 (GMT), as investors react to the news.