JOHANNESBURG (miningweekly.com) – Aim-listed Vast Resources’ Romanian subsidiary Sinarom Mining Group has been granted a prospecting licence over an extended perimeter at the site of its Manaila Polymetallic Mine (MPM), in northern Romania.
The existing MPM mining licence covered an area of 0.0675 km2. It would now cover an additional area of about 1.323 km2 – an over 20-fold increase in the total prospecting licence area.
Vast on Wednesday said the first phase drilling campaign on the extended prospecting licence would begin in the south-east during the second quarter of this year.
"The additional prospecting area granted at our MPM operation provides Sinarom with the possible opportunity to increase its resource base at the mine. The potential increase in mineral resources from the additional area would facilitate an increase in the MPM life of mine through a low-risk, brownfield expansion strategy underpinning the current robust mining operation," commented CEO Roy Pitchford.
Vast also holds an 80% interest in the prospective Baita Plai mine, in Romania, as well as a 50% interest in the Pickstone–Peerless gold mine, in Zimbabwe.