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Vast Resources confirms highly encouraging underground drill results

Mining operations can restart and underground drilling has yielded encouraging results.

Vast Resources PLC -

Vast Resources PLC (LON:VAST) has updated investors with the latest results from underground drilling at the Baita Plai polymetallic mine in Romania.

Drilling on the Antonio skarn has returned highly encouraging results in-line with company expectations, Vast said.

Some 692 metres of core has been gathered from 20 drill holes, and, assays from 15 drillholes (totalling 253.8 metres) have been received.

The company noted that the results are able to be correlated with historic underground mining assays and a zonation of high grade copper-gold-silver mineralisation versus more polymetallic copper-lead-zinc mineralisation can be discerned.

Vast said that the campaign is designed to provide data for JORC mineral resource estimation in the area that will initially be mined, which is presently believed to host sufficient resources for 3-4 years at a production rate of 180,000 tonnes per year. It added that 75% of this area does not form part of the historic official mineral resource.

Drilling continues and further deeper drilling is planned.

Additionally, the company noted (as announced in late July) that underground operations can now continue and it said it will provide a production update shortly.

“In the meantime the company is finalising preparations in the floatation plant ahead of the first sale of Baita Plai concentrate to Mercuria, which is being targeted for end of August/beginning September, subject to sufficient quantities being ready for shipment,” it said.

Quick facts: Vast Resources PLC

Price: 0.1599 GBX

AIM:VAST
Market: AIM
Market Cap: £21.36 m
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