For thousands of other reports visit RSC's Mineral Intellingence Map
Vast Resources Plc
Summary
| Project: | Nkombwa Hill | |
|---|---|---|
| Deposit: | Nkombwa Hill | |
| Location: | Zambia | |
| Commodities: | Phosphate-Rare Earth | |
| Date: | 10/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-10-2016: Vast Resources Plc announces a Resource Estimation report for its Nkombwa Hill deposit at the Nkombwa Hill project. JV with Kilimire International - Initial mineral resource estimate. Vast Resources plc, the AIM listed mining company focussed | |
| Resources: | (Resource, I+I): 21.8Mt @ 7.06% P2O5, 1.17% TREO | |
| CP/QP: | [Resources]: Gayle Hanssen (Not stated) | |
| ABSTRACT: | Vast Resources plc, the AIM listed mining company focussed on Romania and Zimbabwe, announces that a maiden JORC Compliant Resource estimate has been completed for the Nkombwa Hill Phosphate and Rare Earth Element Project ("Nkombwa Hill" or the "Project") located in northern Zambia. In February 2015, as part of an asset rationalisation process, Vast entered into an Earn-In arrangement ("Earn-In") with Kilimire International Limited ("KLL") whereby KLL would fund and manage a 36 month exploration and assessment programme. KLL can earn up to 65 per cent. equity in the Project through the achievement of certain milestones. The funding and compilation of the JORC compliant Mineral Resource Statement increases KLL's interest in the Nkombwe Hill to 50.4 per cent. For more information regarding the Earn-In, see the Company's announcement of 20 February 2015. Roy Pitchford, Chief Executive Officer of Vast, commented: "The rationalisation process we undertook in February 2015 to focus on the Company's brownfields assets while retaining upside exposure to the exploration assets is bearing fruit and the declaration of this maiden JORC Resource funded by KLL is encouraging. The Earn-In will now progress to Phase 2 with KLL committing to spending a further $1,000,000 over the next 18 months in order to advance the Project towards the feasibility stage. We hope that this next phase of work will deliver further attributable value to Nkombwa Hill as the Vast team remains focussed on its revenue generative operations in Romania and Zimbabwe." | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report