Brandon Hill Capital posted a squawk about VAST
Current Price: 0.64p
Market Cap (M): £34.4 EV (M): £70.1
Following the announcement on the 15 of August of the acquisition of a 29.41% indirect interest in the Blueberry Project, Vast Resources (“Vast”) has released the first set of drill results related to the project.
The Blueberry Project is located in the Golden Quadrilateral of Western Romania, and covers an area of 7.285km2 The Golden Quadrilateral hosts the prolific Baia de Aries gold mine, the 17.1Moz Rosia Montana Mine and 7.2Moz Rovina Valley Project. At the time of the acquisition, it was announced that a drilling programme was underway. It is anticipated that this programme will deliver sufficient information to support an Inferred JORC Mineral Resource for gold and other polymetallic minerals including silver, copper, lead and zinc in one or more of several distinct breccia pipes.
The initial drill results were from 3 distinctly different areas of the project lease, the areas being designated AR, BB and AVBB and most of the holes were drilled vertically. Altogether, there are 6 distinct exploration zones.
Area AVBB is by far and away the most promising area based on the results released today. It intercepted economic mineralisation from 0.3m to 26.4m grading 1.34g/t gold and 3.5g/t silver. In addition, there were bands of payable gold all the way down the hole to a depth of 231m with at least 4 of these bands assaying better than 4g/t.
BHC awaits the next set of drill results with interest. The project area is known to be prospective for copper, lead and zinc and it would be very positive to see more drill results from the AVBB area plus results from areas where the base metal content is significantly higher.