Vast reports significantly higher metals grades at Faneata Tailings Dam

Vast Resources has reported significantly higher grades of silver, copper, lead and zinc at the Faneata Tailings Dam, which is located near the Baita Plai Polymetallic Mine in Romania.

As a results of 33 drill holes, Vast said there was a 24% rise in silver to 9.15 g/t, a 12% gain in copper to 0.1%, a 84% surge in lead to 0.12% and a 14% gain in zinc to 0.16%.

"Faneata represents a near-term, low-cost, revenue generative development opportunity," said chief executive Roy Pitchford.

"Our intention is to utilise our existing plant and equipment at Baita Plai to recover metals from the tailings dam and with this in mind we are delighted with the initial results received from our recent drill campaign," he added in a statement.

"These results not only strengthen our confidence in Faneata's commercial potential but also give validation to our development strategy," he added.

At 12:48 GMT, shares in AIM-quoted Vast Resources were flat at 0.61p each.