Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
18 June 2021
Vast Resources plc
(“Vast” or the “Company”)
Appointment of Wardell Armstrong For Verification of Increased JORC Resource and high-level Confirmation of Existing JORC Report Published October 2020
Vast Resources plc, the AIM-listed mining company with mines and projects in
Exploiting the Antonio skarn at planned production capacity to a 21 level elevation would provide sufficient mineralisation for an approximate 7 to 8 year period and is the focus of a continuation of the incline access beyond 19 level.
The Company intends to expand exploration drilling to the Antonio North skarn in early 2022 with the objective of converting part of the Exploration Target assigned to the Antonio North skarn, which stands at between 1.4M–2.8M tonnes, to JORC classification.
In conjunction with this appointment, Wardell Armstrong following a high level review, confirmed the Mineral Reources Estimate (“MRE”) can be considered a reasonable reflection of the mineral resources (see Note 2.) of the previously published (see Note 1.) existing MRE, prepared in accordance with the JORC Code (2012), of 608,000 tonnes @ 2.58% copper (‘Cu’) equivalent (Measured, Indicated & Inferred) as announced on 29 October 2020 and confirmed its content. This underpins the initial mine production life of approximately 3-4 years of in-situ 15,695 tonnes copper equivalent available for mining and Exploration targets mentioned above.
Andrew Prelea, CEO Vast Resources plc, commented:
“Wardell Armstrong is an internationally acclaimed and trusted mining consultancy and we are delighted to appoint the firm to our advisory team for Baita Plai. Building on the work that they have successfully concluded relating to our existing MRE, we look forward to working with them as we unlock the further potential of this significant mine in tandem with the production and sales that we continue to deliver during the ramp up phase. We look forward to reporting results of the exploration drilling campaign during H2 2021.”
- Mineral Resource Estimate for the Baita Plai Mine, Bihor County,
Romaniadated 31 October 2020 and prepared by Craig Harvey, MGSSA, MAIG, Group Geologist Vast Resources.
- In conclusion, the WAI review identified no major concerns with the Vast Resources MRE (dated 31 October 2020) which can be considered a reasonable reflection of the mineral resources for the area immediately below 18 level, and to a depth of approximately 60m below 18 level on the Antonio skarn only, based on the available data and is deemed fit for purpose. For future drilling and channel sampling the QA/QC protocol, and laboratory analysis method, should be reviewed to ensure best practice compliance.
For further information, visit www.vastplc.com or please contact:
|Vast Resources plc|
Andrew Prelea (CEO)
Andrew Hall (CCO)
+44 (0) 20 7846 0974
|Beaumont Cornish - Financial & Nominated Adviser |
+44 (0) 020 7628 3396
|Axis Capital Markets Limited – Broker |
+44 (0) 20 3206 0320
|St Brides Partners Limited|
+44 (0) 20 7236 1177
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in
The Company's Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts
The Company also owns the Manaila Polymetallic Mine in