Vast Resources reports positive drilling at Manaila

Romania and Zimbabwe-focused mining company Vast Resources announced the results of a phased drilling programme at the producing open pit operations of the Manaila Polymetallic Mine in Romania on Thursday.

The AIM-traded firm said positive drilling results were achieved as part of resource optimisation and expansion strategy at the mine.

MPM has current total mineral resources, estimated in accordance with the Russian Reserves and Resource Reporting System, comprising in aggregate 1.8Mt in-situ of lead at 0.95%, zinc at 1.86%, copper at 1.17%, gold at 0.63g/t and silver at 45.97g/t.

The results of the drilling programme are anticipated to produce a JORC-compliant resource at Manaila in the third quarter of this year, and extend the life of mine, the board said.

Highlights of the drilling, as reported by Vast, included 11.70m @ 1.19% Cu and 0.69% Zn from 20.0 metres in FZ60; 8.50m @ 1.47% Cu and 1.03% Zn from 54.0 metres in FZ67; 13.90m @ 1.11% Cu and 0.31% Zn from 25.0 metres in FZ3; and 17.80m @ 2.34% Cu and 1.83% Zn from 30.0 metres in FZ4.

“These are encouraging results and are expected to increase the open cut and underground mine life at Manaila,” said Vast Resources CEO Roy Pitchford.

“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,” Pitchford added.