VAST Vast Resources Plc

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   10 March 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Baita Plai Project Update 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to update 
the market on progress at its Baita Plai Polymetallic Mine "Baita Plai" 
in Romania. 
 
   Despite shipping restrictions in China creating delays due to the 
Coronavirus (COVID-19), the Company is pleased to announce that the 
initial shipments of equipment are currently being loaded on to a vessel, 
bound for Romania, scheduled to depart on 16 March 2020, with further 
containers booked for 20 March 2020. 
 
   These initial shipments will allow the company to commence production 
within the six month timeline on financing as indicated in our corporate 
presentations. 
 
   Underground drilling has intersected the Antonio Skarn below 18 level at 
the Baita Plai mine and from multiple readings with a handheld Niton XRF, 
the mineralised zone intersected in the drill holes are consistent with 
management's expectations. 
 
   The drilling is being undertaken by the only local drilling company 
remaining with underground drilling capabilities. Initial logistics and 
drilling proved difficult with breakdowns and spare part availability 
being problematic. These are resolved and drilling is progressing at an 
acceptable rate. 
 
   Drilling is expected to be completed by the end of April 2020. The core 
will be cut in half on site with one half of the core being retained and 
the second half sent for independent analysis at the ALS Chemex 
Laboratories at Rosia Montana in Romania. Results of the analysis will 
be released as they are made available by the laboratory and verified 
against the sample records at Baita Plai. 
 
   Photos and videos of the XRF readings of the cores and the Chinese 
equipment will be uploaded on to the company's social media pages and 
website, with an updated implementation programme of the mine to follow 
shortly. 
 
   Qualified Person 
 
   The information in this announcement that relates to the drilling 
operation is based on information compiled by Mr Craig Harvey, the Chief 
Operating Officer for Vast and a full-time employee and Director of the 
Company.  Mr Harvey is a Competent Person who is a Member of the 
Australian Institute of Geoscientists and of the Geological Society of 
South Africa, a Recognised Professional Organisation included in a list 
that is posted on the ASX website from time to time. 
 
   Mr Harvey has sufficient experience that is relevant to the style of 
mineralisation and type of deposit under consideration and to the 
activity being undertaken to qualify as a Competent Person as defined in 
the 2012 Edition of the 'Australasian Code for Reporting of Exploration 
Results, Mineral Resources and Ore Reserves'.  Mr Harvey consents to the 
inclusion in the report of the matters based on his information in the 
form and context in which it appears. 
 
   **ENDS** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc                                www.vastplc.com 
 Andrew Prelea (Chief Executive Officer)           +44 (0) 1491 615 232 
 Andrew Hall 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    +44 (0) 020 7628 3396 
 James Biddle 
SP Angel Corporate Finance LLP -- Broker          www.spangel.co.uk 
 Richard Morrison                                  +44 (0) 20 3470 0470 
 Caroline Rowe 
Blytheweigh                                       www.blytheweigh.com 
 Tim Blythe                                        +44 (0) 20 7138 3204 
 Megan Ray 
 
 
   The information contained within this announcement is deemed by the 
Company to constitute inside information as stipulated under the Market 
Abuse Regulations (EU) No. 596/2014 ("MAR"). 
 
   ABOUT VAST RESOURCES PLC 
 
   Vast Resources plc, is an AIM listed mining company with mines in 
Romania and Zimbabwe focused on the rapid advancement of high quality 
brownfield projects by recommencing production at previously producing 
mines in Romania and commencement of the joint venture mining agreement 
on the Chiadzwa Community Concession Block of the Chiadzwa Diamond 
Fields in Zimbabwe. 
 
   The Company's portfolio includes an 80% interest in the Baita Plai 
Polymetallic Mine in Romania, where work is now currently underway 
towards developing and recommissioning the mine and the Community 
Concession Block in Chiadzwa, Zimbabwe. 
 
   Vast Resources owns the Manaila Polymetallic Mine in Romania, which was 
commissioned in 2015, currently on care and maintenance. 
 
 
 
 

(END) Dow Jones Newswires

March 10, 2020 06:35 ET (10:35 GMT)

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