Vast Resources PLC

Vast Resources (Stock symbol- LON: VAST) was founded in the year 2014 and is committed to marching ahead on the accelerated transformation from being an exploration company to a mining one. The company is focused on the rapid advancement of brownfield projects of high quality and is successfully providing numerous different streams of revenue flowing in. This will be coupled with the development into near-term production of two of its key value drivers- the Chiadzwa Diamond Community Concession in Zimbabwe, and the Baita Plai Polymetallic Mine in Romania; that are on priority for Vast Resources.

Company’s Strategy:

Vast Resources enjoys a well-established presence on the Romanian and Zimbabwean soil. It is committed with an aim to establish a selection of productive and valuable assets in Romania and Zimbabwe in the coming future and looking at developing its pipeline of brownfield and appraisal opportunities further. Providing a diverse range of commodities, that would comprise of- gold, silver, zinc, copper, lead and diamonds; this move offers a diversified exposure between the two highly prospective jurisdictions of Romania and Zimbabwe.

Operations:

Vast Resources currently runs its operations under the following project name:

1. Chiadzwa Community Concession, Marange

The Chiadzwa Diamond Fields in Marange are widely considered to be the world’s richest reserves of alluvial diamonds. A joint venture was signed between Vast Resources and the Chiadzwa community concession through a company - Chiadzwa Mineral Resources Private Limited. The collaboration took place in the month of September of the year 2019, which led to the Katanga Mining Private Limited, coming into being. In the near future, another joint venture agreement is to be formally signed between Katanga and the Zimbabwe Consolidated Diamond Company Private Limited (ZCDC)- a government body representing the Republic of Zimbabwe in the diamond mining sector. The details of the announcement of the joint venture are to be made public almost around the same time in line with the announcement of the ZCDC joint venture which is linked together.

2. Blueberry Gold Project

A drilling programme and assaying is on its way to get developed and is expected to deliver enough information in order to support an Inferred JORC Mineral Resource for polymetallic minerals such as gold, silver, lead, copper and zinc in one or more of several distinct breccia pipes. Vast Resources holds a 29.41 percent interest in the Blueberry Project- a prospective brownfield area of about 7.285 km² in the Golden Quadrilateral near the now-closed Baia de Aries mine. The Golden Quadrilateral has large polymetallic prospectivity (Cu, Zn and Pb combined with relatively high Au and Ag) which has been projected to have produced around fifty-five million gold ounces till date. In lieu of a fee equal to ten percent of pre-IPO costs, it is planned that Vast Resources will have ownership and oversight over all mining operations at Blueberry, as well as over the development project and the IPO process.

3. Baita Plai Polymetallic Mine

Baita Plai is Romania’s major polymetallic and uranium mines situated in the Apuseni Mountains of Transylvania region. Which is 50 km north-west from Rosia Montanama, Romania’s largest gold-copper mine and 52km north-west of Roșia Poieni. The ore deposit is of skarn type containing several veins in calcareous sediments in over eight distinct pipes. It includes 1.8 Mt of the ore body at 6% Cu equivalent grade comprising copper, silver, zinc, lead, gold, tungsten and molybdenum. The mine benefits from its in-place infrastructure involving underground, surface and processing equipment along with an EU registered and operational tailings facility.

4. Piciorul Zimbrului

As of now drilling has took place on six veins and further two veins with associated polymetallic mineralization were investigated with two additional veins showing mineralization of Au, Ag and Sb. Mineral deposit are veins hosted throughout Paleocene sandstones, and the full potential of the veins has not been defined.

5. Carlibaba Extension Project

Together with the development and optimization projects at the existing Manaila open pit, Vast Resources is presently progressing its strategy to set up a new and bigger complex at Manaila or at the nearby Carlibaba Manaila Extension- which is the location of a planned future open-cast mine and new metallurgical processing facility.

6. Manaila Polymetallic Mine

In addition to commissioning a new zinc concentrate line and a Knelson concentrate to produce a pyrite concentrate with gold and silver credits, Vast Resources has effectively improved the quality of the copper concentrate since gaining operational control.

Vast Resources has a cent percent interest in the Manaila Polymetallic Mine that is located at the North of Romania. Post four weeks of assuming the operational control, the production had begun in the month of August in 2015. They are currently in the business of producing copper concentrate, zinc concentrate, and pyrite concentrate with a byproduct of gold and silver.

7. Magura Neagra

The prospecting permit of Magura Neagra is twenty-one-kilometer situated in the Zagra Telciu region of Romania’s Bistrita-Nasaud County, which is next to the Piciorul Zimbrului licence. Following the initial prospecting work, Vast Resources conducted a drilling program targeting sets of polymetallic veins along with areas of disseminated sulphide mineralization, results of which are awaited. If the results are happened to be as expected will facilitate the company to apply for a full exploration license.