Vast Resources (AIM:VAST) said it has received ‘excellent results’ from metallurgical test work at its Baita Plai mine in Romania, confirming confidence in the quality of the project.
The work was taken by Grinding Solutions across three samples representing high grade copper mineralisation, a polymetallic copper-lead-zinc mineralisation and a copper-molybdenum ore. All three types of mineralisation contained gold and silver mineralisation.
The main copper bearing minerals include bornite, chalcocite and chalcopyrite while the main zinc bearing mineral is sphalerite and the main lead bearing mineral is galena.
Initial work aimed at recreating the plant’s operating parameters and after preconditioning aeration, recoveries ‘dramatically improved’ in test work and an optimisation programme.
Test work has uncovered copper recoveries ranging between 88.2% - 93.8% into a copper concentrate, gold recoveries into the copper concentrate ranging between 72.7% - 78.2% and silver recoveries to the copper concentrate ranging between 69.3% - 83.0%.
Shares in Vast Resources have risen from lows of 0.15p in the past three months and were trading 4.65% higher this morning at 0.225p following the announcement.
This included zinc recovery of 51.1% into a zinc concentrate with gold and silver credits and molybedenum recovery of 65.3% into a molybdenum concentrate with gold and silver credits.
The company said the test work has provided ‘excellent results’ with scope to further improve the copper and lead recoveries through a regrind process to improve the liberation of the chalcocite and galena and expose them to flotation.
The metallurgical flowsheets by Grinding Solutions and Minxcon have been incorporated into the plant refurbishment currently being finalised at the Baita Plai processing plant.
Vast said the proposed molybedum recovery circuit will be included in the process flow of the processing plant and will form an additional revenue stream to the company.
“Results from Grinding Solutions test work confirm the Company’s confidence in the quality of the Baita Plai asset and our decision to focus all our attention in bringing Baita Plai into production,” said Andrew Prelea, Chief Executive Officer at Vast Resources, who added:
“The opportunity to further develop the mine and continue exploration at Baita Plai in order to increase the Resource and extend the life of mine is a continuing priority for the Company. These test results underpin both the near term and the future profitability of the Company.”
Today’s test work results follow 'highly encouraging' results from a previous drilling program at Baita Plai which were returned in line with expectations on 6 August 2020.
Vast Resources is now finalising preparations ahead of the first sale of Baita Plai concentrate to Mercuria, which is expected to occur at the end of August/beginning September.
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