Vast Resources Plc , a mining company with operating mines in Romania and Zimbabwe, has begun surface exploration drilling at their Magura Neagra and Piciorul Zimbrului prospecting licenses, collectively known as Zagra, in northern Romania.
Previous exploration of Zagra, in which Vast has a minimum 90% interest, revealed prospectivity for polymetallic mineralisation. At Piciorul Zimbrului, six veins associated with copper and gold mineralisation were previously identified through underground development.
Romanian state exploration company, IPEG Cluj, indicated an exploration target (non-JORC compliant) of up to 3,000Mt of ore at grades reaching up to 0.8% copper and 0.5g/t gold in the area.
The drill at Zagra has been a part of the Company’s planned expenditure since November of last year and the 4,000m surface diamond drilling campaign is expected to be completed by the end of 2018.
Looking ahead to 2019, Andrew Prelea, CEO of Vast Resources, says the company is advancing talks “with institutional investors and the completion of the prospecting drill campaign is essential to ensure securing the Exploration Licence in H1 2019.”
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