VAST Vast Resources Plc

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   12 May 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Baita Plai Metallurgical Test Work Update 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to update 
the market on progress on metallurgical test work at its Baita Plai 
Polymetallic Mine "Baita Plai" in Romania. 
 
   Following the previous announcement regarding the drilling update made 
on 5(th) May 2020, the Company can confirm that two sample batches of 
three samples each were taken from the underground working areas in the 
Baita Plai mine which are currently accessible and represent the first 
areas to be brought back into production. 
 
   Samples were taken by the on-mine geologists from the accessible orebody 
by means of hammers and chisels. The samples were bagged on site and 
transported to surface for recording before being dispatched by courier 
to Grinding Solutions in the UK for metallurgical test work. Each sample 
in a batch was approximately 100kg in mass. 
 
   For each sample batch, it was attempted to obtain a copper -- molybdenum 
sample, a high-grade copper sample, and lastly a representative 
polymetallic (copper, lead and zinc) sample. 
 
   The first sample batch returned the following assay results as per Table 
1. 
 
   Table 1: Batch 1 Head Assay Results 
 
 
 
 
                                            Au   Ag 
                 Cu %   Pb %  Zn %  Mo %*  g/t   g/t  As %  Cd %  Bi %  Fe %  S % 
                 -----  ----  ----  -----  ----  ---  ----  ----  ----  ----  ---- 
        0001 
Batch    Sample 
 1       Cu-Mo    8.53  0.96  1.36         4.81  326  0.23  0.02  0.46  4.55  4.62 
------  -------  -----  ----  ----  -----  ----  ---  ----  ----  ----  ----  ---- 
        0002 
         Sample 
Batch    High 
 1       Cu      12.21  0.01  0.26         4.24  227  0.01  0.01  0.32  7.02  8.93 
------  -------  -----  ----  ----  -----  ----  ---  ----  ----  ----  ----  ---- 
        0003 
Batch    Sample 
 1       Poly    10.85  0.02  0.20         4.67  261  0.00  0.01  0.38  5.43  7.83 
------  -------  -----  ----  ----  -----  ----  ---  ----  ----  ----  ----  ---- 
 
 
   -- Molybdenum results are outstanding from the laboratory 
 
 
   Upon receipt of the head assay results for the Batch 1 samples (1 -- 3), 
it was felt that the head assay results may not be a fair representation 
of the expected grade ranges. As such, instructions were given to halt 
further test work on the Batch 1 sample, and that a second batch of 
samples be taken from underground and sent to Grinding Solutions. This 
was duly done with an instruction to minimise any possible preferential 
sampling. 
 
   The second sample batch returned the following assay results as per 
Table 2. 
 
   Table 2: Batch 2 Head Assay Results 
 
 
 
 
                                            Au    Ag 
                 Cu %   Pb %  Zn %  Mo %*  g/t*  g/t*  As %  Cd %  Bi %*  Fe %*  S %* 
                 -----  ----  ----  -----  ----  ----  ----  ----  -----  -----  ---- 
        0004 
Batch    Sample 
 2       Cu-Mo    7.09  0.36  0.32                     0.07  0.01 
------  -------  -----  ----  ----  -----  ----  ----  ----  ----  -----  -----  ---- 
        0005 
         Sample 
Batch    High 
 2       Cu      10.74  1.12  3.80                     0.38  0.04 
------  -------  -----  ----  ----  -----  ----  ----  ----  ----  -----  -----  ---- 
        0006 
Batch    Sample 
 2       Poly     4.74  0.26  0.72                     0.08  0.01 
------  -------  -----  ----  ----  -----  ----  ----  ----  ----  -----  -----  ---- 
 
 
   -- *Assay results for these elements are outstanding from the laboratory 
 
 
   The flotation test work is to be carried out in a number of phases to 
produce three primary saleable concentrates, a copper concentrate, a 
lead concentrate and a zinc concentrate. A molybdenum concentrate is 
intended in the near future. 
 
   Initial flotation test work has concentrated on producing a saleable 
copper concentrate with minimal deleterious elements which may reduce 
the overall value of the concentrate. 
 
   Initial flotation tests on Batch 2 samples returned the following, 
 
 
   -- Sample 4 produced a concentrate grading 26.6% copper at an 84.8% copper 
      recovery 
 
   -- Sample 5 produced a concentrate grading 20.0% with a 94.6% copper 
      recovery and a 92.5% molybdenum recovery. 
 
   -- Sample 6 recovered a bulk concentrate grading 28% copper, 14% zinc and 
      2.8% lead with recoveries of 91% for copper, 94% for zinc, 83% for lead 
      and 89% for molybdenum. 
 
 
   Of great interest is the confirmation of the historical metallurgical 
results as derived from historical mine records. Specifically, for the 
copper concentrate, the historical recovery of copper into the copper 
concentrate for the period 1999 -- 2009 was 85.5% with concentrate 
grading 28.2% copper. 
 
   Of note also from the historical processing records, a gold flotation 
recovery of 75.9% and a silver flotation recovery of 47.3% was achieved 
into the copper concentrate. Processing records for gold and silver are 
present for the period 1999 -- 2003 which indicate an average feed grade 
of 0.38g/t gold and 48.3g/t silver for this period. 
 
   The higher gold and silver values reported in the head assays for sample 
1 -- 6 offer confirmation to the results from the underground sampling 
conducted in 2011 and 2012. These historic underground samples have not 
been used before in any of the Company's estimations as they have been 
unable to have their spatial position verified to an acceptable degree 
of certainty. These new results now provide Vast with increased insight 
into the expected gold and silver values in the working areas expected 
to commence production shortly and would substantially increase the 
value of the saleable copper concentrate. 
 
   Test work by Grinding Solutions under the guidance of Minxcon based out 
in South Africa is continuing with the view to providing a cost 
effective and efficient means of producing the three independent 
concentrates, copper, lead and zinc. 
 
   The Company is extremely pleased with the initial indications from the 
test work on producing the copper concentrate and so far, the grades are 
greater than originally forecasted. It is expected that the underground 
drilling currently underway will further confirm the continuation of 
similar grades at depth. 
 
   The Company looks forward to providing updates on the continuing 
drilling and assay results over the next 4-6 weeks. 
 
   Third Party Verification 
 
   The information in this announcement that relates to the metallurgical 
test work is based on information compiled by Grinding Solutions 
Limited.  Grinding Solutions is an innovative and consultative company 
specialising in mineral liberation and separation. Grinding Solutions 
Limited approach client problems without preconceptions to help maximise 
their value and opportunities in order to meet the ever increasing 
global challenges that the mining industry faces. Grinding Solutions 
works with clients across the world covering metalliferous, coal and 
industrial mineral industries. 
 
   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. 
 
   **S** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc               www.vastplc.com 
 Andrew Prelea (Chief Executive   +44 (0) 20 7846 0974 
 Officer) 
 Andrew Hall 
Beaumont Cornish - Financial &   www.beaumontcornish.com 
 Nominated Adviser                +44 (0) 20 7628 3396 
 Roland Cornish 
 James Biddle 
SP Angel Corporate Finance LLP   www.spangel.co.uk 
 -- Joint Broker                  +44 (0) 20 3470 0470 
 Richard Morrison 
 Caroline Rowe 
Axis Capital Markets Limited --  www.axcap247.com 
 Joint Broker                     +44 (0) 20 3206 0320 
 Richard Hutchison 
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 a United Kingdom AIM listed mining company with 
mines and projects in Romania and Zimbabwe - focused on the rapid 
advancement of high quality projects by recommencing production at 
previously producing mines in Romania and the 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. 
 
   ABOUT GRINDING SOLUTIONS LIMITED 
 
   Further information about Grinding Solutions Limited can be found on 
their website below: 
 

   https://www.globenewswire.com/Tracker?data=QB8fCI6UaCL7SKjtqvIW0187unKDz59uWWudCoq8-x-u2EbA736Llk0Cp9fjFldimUmu400mgKrOqESzX4JdXHsLNIPdFfJGUp5gGcbPgvyBzJh_dew-dgM-82SVbnoj 
www.grindingsolutions.com 
 
   Attachment 
 
 
   -- Baita Plai Metallurgical Test Work Update 
      https://ml-eu.globenewswire.com/Resource/Download/1dcc8589-c19a-460b-81cf-14483b3c316b 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 12, 2020 02:00 ET (06:00 GMT)

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