Exploration-turned-mining company, Vast Resources (VAST) informed investors today that the company had submitted final reports associated with the prospecting permit to Romania’s National Agency for Mineral Resources, ANRM.
These reports outline the successful completion of surface drilling at the Magura Neagra and Piciorul Zimbrului prospecting licences in northern Romania.
In November of last year, Vast Resources announced it had begun its 4,000m surface diamond drilling campaign as previous exploration of both licences had demonstrated prospectivity for polymetallic mineralisation.
Alongside the reports to ANRM, Vast has also submitted core samples that are currently being tested, with final drilling results expected within six weeks.
Once the final assay analysis is completed, and subject to the results, Vast Resources intends to apply for an exploration licence for the Magura Neagra and Piciorul Zimbrului prospects.
If granted, the company plans to finalise a joint venture agreement, in which Vast has a minimum 90% interest, with a strategic partner.
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