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Vast Resources Plc
Summary
| Project: | Baita Plai | |
|---|---|---|
| Deposit: | Faneata | |
| Location: | Romania | |
| Commodities: | Silver-Copper-Lead-Zinc-Gold-Molybdenum-Bismuth-Tungsten | |
| Date: | 3/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-3-2017: Vast Resources Plc announces a Resource Estimation report for its Faneata deposit at the Baita Plai project. JV - Initial JORC Mineral Resources Estimate for Faneata Tailings Storage Facility. Vast Resources plc, the AIM-listed mining company w | |
| Resources: | (Resource, Total): 3.0Mt @ 0.05g/t Au, 8.65g/t Ag, 0.092% Cu, 0.101% Pb, 0.1715 Zn at project | |
| CP/QP: | [Resources]: Craig Harvey (Internal) | |
| ABSTRACT: | Vast Resources plc, the AIM-listed mining company with interests in Romania and Zimbabwe, is pleased to announce the maiden JORC Compliant Mineral Resource Estimate for the Company's 80% owned Faneata Tailings Storage Facility ("Faneata") in Romania. Faneata consists of more than 40 years' material from the proximal Baita Plai Polymetallic Mine ("Baita Plai"). Roy Pitchford, Chief Executive of Vast, commented: "Our Faneata Tailings Storage Facility, which constitutes a separate licence to the proximal Baita Plai mine, is shaping up to have the potential to be a revenue generator in its own right. Today's publication of a JORC Compliant Resource Estimate is another step up the rung towards achieving low-cost production at Faneata as we simultaneously advance negotiations to secure the right to mine at Baita Plai. Roy Pitchford, Chief Executive of Vast, commented: "With an anticipated total processing recovery of 36%, Faneata has the potential to deliver a 44% margin over a period of 16-20 months, before capital expenditure, highlighting the ability for this project to materially enhance financial performance in the near-term, supporting Vast's wider expansion plans across Romania. Importantly, reprocessing the tailings at Faneata will also have a positive impact from an environmental standpoint; a central pillar of our Corporate Social Responsibility programme in Romania."I look forward to the receipt of our metallurgical test work as we identify the optimal pathway for development at Faneata." | |
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