Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

10 August 2021

Vast Resources plc

("Vast" or the "Company")

Baita Plai Operational Update - summary of refurbishment works

Vast Resources plc, the AIM-listed mining company, as announced today is pleased to provide a comprehensive summary of the refurbishment works undertaken at Baita Plai Mine both on the underground infrastructure, and on the processing plant. 

1.   Underground

a.   Refurbishment

Significant work has been undertaken on the underground infrastructure including;

·    Replacement of 1,200 metres of main hoisting cable across three shafts

·    Replacement of man travelling cages in Shaft 2

·    Refurbishment of bell signal systems on Shafts 1 and 3

·    Repair and installation of railway tracks on 18 level and 0 level

·    Installation of 300m of 6KvA power cable to feed upgraded underground transformer room:

o Installation of 2 x main transformers

o Installation of 4 x 400v transformers for equipment feeds

o Blasted chamber for underground transformer room

o Support installed, roof bolts, mesh and shotcrete

·    Refurbished 22 'fixed type' 1.0m³ underground wagons for ore transport

·    Repaired 1 x 7 ton electric trolley locomotive

b.   Ventilation

·    Refurbished surface ventilation fan at the Baia Rosie ventilation shaft

·    Conducted an internal ventilation investigation of air flow in the mine

·    Identified requirements for airflow based on equipment underground

·    Constructed:

o 6 ventilation doors

o 22 ventilation seals

·    Installed

o 2 x 15Kw 800mm fans on 18 level

o 2 x 11Kw 600mm fans on 18 level

o 2 x 7Kw 400mm fans on Sub-Level 1 (18 level -9m)

o 150m 400mm ventilation columns

c.    Production

·    Completed 85.2m of main belt incline access development

·    Completed 79.0m of spiral incline access to Sub-level 1 (18 level -9m)

·    Completed 116.4m of ore drive on Sub-Level 1

·    Completed 16.0m ventilation raise from Sub-Level 1 to 18 level

·    2 x diesel LHDs dismantled, sent underground, reassembled and in use

·    2 x electric LHDs dismantled, sent underground, reassembled and awaiting final completion of electrical transformer room

·    Underground engineering workshop constructed with overhead beam crane

·    3 x submersible pumps in use with main water sump created on Sub-Level 1

d.   General

·    Compiling Standard Operating Procedures for underground activities

·    Training of mechanised equipment operators

·    Lighting installed in high activity areas

·    Underground main ore passes from 0 level to 6 level box-front hydraulics refurbished

·    Surface wagons for ore transport to plant modified and repaired

2.   Processing Plant

a.   Refurbishment

·    Repaired and modified surface ore tipping arrangement

·    Reinforced and refurbished ore bunkers

·    Refurbished double deck vibrating screen

·    Refurbished secondary crushers

·    Refurbished crusher to silo conveyor belts

·    Refurbished mill feed conveyor belt

o Emergency stop switches along length

·    Refurbished mill lubrication system

·    Replaced main mill bearings

·    Replaced mill liners

·    Refurbished 44 x 2.8m³ flotation cells

o Replaced and upgraded electrical controls and switches

o Bearings, motors and belt drives replaced where necessary

o Installed new slurry pump

o General electrical repair and refurbishment

·    Replaced old filter cloth filters with uprated ceramic disk filters for concentrate production

·    Constructed chutes for concentrate collection

·    Refurbished and re-laid floor for concentrate storage

b.   General

·    Creation of processing plant sample preparation area

o Granulator

o Vacuum pump

o Shaking sieves

·    Structural building survey of key intense vibration areas

·    Replaced all stairs with inclusion of handrails

·    Sealed processing plant roof

·    Reagent storage room created with data sheets for all chemicals in use

·    Linked processing plant to main administration IT network for daily reporting

·    Full perimeter lighting installed on the tailings dam

·    Cameras installed at tailings dam for safety and environmental monitoring

·    8 water monitoring boreholes drilled at tailings dam with piezometers installed

**ENDS**

For further information, visit www.vastplc.com or please contact:

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

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 Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.