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Vast Resources Plc
Summary
| Project: | Manaila Mine | |
|---|---|---|
| Deposit: | Manaila Mine | |
| Location: | Romania | |
| Commodities: | Copper-Zinc | |
| Date: | 8/11/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-8-2016: Vast Resources Plc announces an Exploration/Drilling Update report for its Manaila Mine deposit at the Manaila Mine project. Drilling results incl. 17.80m @ 2.34% Cu, 1.83% Zn from 30.0m. Vast Resources plc, the AIM listed mining company with o | |
| Resources: | (Resource): 1.8Mt @ 0.95% Zn, 1.86% Cu, 0.53g/t Au, 45.97g/t Ag under the Russian reporting system | |
| CP/QP: | [Overall Report]: Craig Harvey (Internal) | |
| ABSTRACT: | Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to announce the results of a phased drilling programme at the producing open pit operations of the Manaila Polymetallic Mine ("Manaila" or "MPM"). Roy Pitchford CEO commented: "These are encouraging results and are expected to increase the open cut and underground mine life at Manaila. Extending the mine life will add further impetus to the concept of establishing a metallurgical plant at Manaila to avoid the haulage of ore and tailings to and from the metallurgical facilities at Iacobeni which will in turn significantly reduce our operating costs. The current progress towards producing separate copper and zinc concentrates at Iacobeni will be enhanced by mining future higher grade copper ore." Since managing operations from September 2015, Vast has collated historical sampling data from channel sampling and drilling, both from underground and at surface. A geological model has been constructed on the basis of this information which has subsequently been tested by two targeted phases of drilling. Phase 1 drilling of nine surface drillholes located in the vicinity of the current open pit workings were drilled. Drilling totalled 458.5 metres and was completed in 2015 prior to the onset of the winter season. These results were analysed and incorporated into the geological model construction process. These drillholes serve to validate the bulk of the underground channel sampling, underground and surface drillholes in the vicinity of the open pit workings. For Phase 2 drilling, a total of four surface drillholes were located in the vicinity of the current open pit with intersections planned for 20 metres-40 metres below the open pit floor. A total of 200 metres were drilled for Phase 2 and drilling was completed during Q1 2016. The drilling was designed to test the validity of the interpreted geological structures and mineralised zones. | |
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