Besra Gold Has Commenced Trading on the ASX(1)

  • Besra Gold commenced trading on the Australian Securities Exchange (ASX) today following a A$10 million (US$7.3 million) initial public offering (Offer)
  • Besra will use proceeds from the Offer to embark on an aggressive exploration campaign at the Company's flagship Bau Gold Project located in Sarawak Malaysia
  • Besra will focus on extending prominent brownfields targets which have returned exceptional drilling intercepts and largely remain open along strike and at depth, including:
    • Pejiru Deposit:
      • 32m @ 11.4g/t Au
      • 81m @ 3.26g/t Au
    • Jugan Deposit:
      • 123m @ 2.56g/t Au
      • 57m @ 3.92g/t Au
  • Sarawak has a western mining code, excellent infrastructure, favourable tax regime and no gold royalty
  • Besra board of directors includes strong geological and metallurgical skills that have direct project experience at Bau over many years.

Sydney, Australia--(Newsfile Corp. - October 8, 2021) - The Board of Besra Gold Inc (ASX: BEZ) (Besra or the Company), a Canadian company, is delighted to advise that trading of CHESS Depositary Interests (CDIs) over Besra common shares on the Australian Securities Exchange (ASX) commenced at 3:00pm AEDT on 8 October 2021 following completion of a successful Australian initial public offer (IPO) that raised gross proceeds of A$10 million (US$7.3 million).

Besra will use the proceeds from the Offer to focus on the Bau Gold Project located in Sarawak, Malaysia. Drill rigs are currently being mobilized to site with initial drilling to focus on brownfields targets associated with the known JORC Resources deposits at Jugan, Pejiru, Bekajang and Sirenggok. Drilling at Jugan, which had been the subject of an earlier feasibility study and hosts total mineral resources of 959,000oz Au (JORC 2012), will target increasing grades at depth along the northwesterly plunging zone of mineralisation. At Pejiru, lower geological risk step-out and infill drilling will target higher grade zones, interpreted as associated with deep seated feeder systems, the source of much of Pejiru's existing 997,800oz JORC Resource, the majority of which lies within 70m of the surface. Similar brownfields style drilling evaluation is planned at Bekajang (644,500oz Au JORC 2012 Resource) and Sirenggok (306,00oz Au JORC 2012 Resource) where the extents of existing mineralisation have yet to be fully delineated in both the lateral and vertical directions.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

Bau Gold Project

The Bau Gold Project is located 30-40km from Kuching, the capital city of the province of Sarawak, Malaysia on the island of Borneo. Besra controls, directly and indirectly, a 97.8% interest (92.8% on an equity adjusted basis) in the Bau Project. The project lies at the western end of the arcuate metalliferous belt extending through the island of Borneo. In Kalimantan (the Indonesian jurisdiction portion of Borneo), this belt is associated with significant gold mining areas including Kelian (7Moz) and Mt Muro (3Moz).

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Figure 1 - Bau Gold Project location

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The Bau Gold Project is defined by a system of gold endowment extending across an 8 km x 15 km corridor, centered on the township of Bau. The Company has identified total mineral resources estimated at 72.6Mt @ 1.4 g/t for 3.3 million ounces of gold across a number of deposits (refer table below) and has an Exploration Target ranging between 4.9 and 9.3Moz3 (on a 100% basis).

The project is well serviced by first class infrastructure including access to deep water ports, international airport, grid power, communications and a multitude of service providers.

JORC Code 2012 Mineral Resources - Bau Gold Project (100% basis)


MeasuredIndicatedTotal Measured and IndicatedInferred
DepositTonnes
(Mt)
G/t AuContained
Au

('000 Oz's)
Tonnes (Mt)G/t AuContained
Au

('000 Oz's)
Tonnes
(Mt)
G/t AuContained
Au

('000 Oz's)
Tonnes
(Mt)
G/t AuContained
Au

('000 Oz's)
Pejiru---------25.81.2997.8
Jugan Hill3.41.5166.914.51.5703.617.91.5870.51.81.689.8
Sirenggok---------8.31.1306.8
Bekajang---1.92.0120.41.92.0120.410.61.5524.1
Taiton---1.52.8134.51.52.8134.53.41.8192.9
Say Seng---------1.41.670.9
Total3.41.5166.917.91.7958.021.31.61,125.451.31.32,181.6

 

Competent Person's Statement

The information in this Report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Kevin J. Wright, a Competent Person who is a Fellow of the Institute of Materials, Minerals and Mining, a Chartered Engineer, and a Chartered Environmentalist. Mr. Wright is a consultant to Besra. Mr. Wright has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Kevin J. Wright consents to the inclusion in this report of the matters based on his information in the form and context that it appears.

It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources by companies that are listed on ASX comply with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC Code"), whereas mining companies in other countries may be required to report their mineral reserves and/or resources in accordance with other guidelines (for example, SEC Industry Guide 7 in the United States). While the Company's reserve and mineral resource estimates may comply with the JORC Code, they may not comply with the relevant guidelines in other countries and do not comply with SEC Industry Guide 7. While the Company has reported 'indicated' and 'inferred' resources under the JORC Code, it is possible that they may not be converted to reserves under the JORC Code or SEC Industry Guide 7.

For Further Information
James W. Hamilton
Investor Relations Service
Ph: +1-416-471-4494
jim@besra.com

Besra Gold Inc
(ASX: BEZ) - ARBN 141 335 686
45 Ventnor Ave, West Perth, WA 6005
AUSTRALIA

hq@besra.com
www.besra.com
+61 8 9 429 8888


(1) All amounts are in Australian dollars unless otherwise denoted.

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