SOLID PERFORMANCE Gold produced and sold at Pickstone-Peerless rose in the second quarter to the highest recorded levels
Photo by: Bloomberg
Diversified miner Vast Resources reports that its expansion initiatives in Zimbabwe continue to progress encouragingly.
Vast Resources has interests in the producing of gold at the Pickstone-Peerless and Eureka gold mines.
Work at the Eureka gold mine, in which the company holds a 23.75% economic interest, has started with the dewatering of the openpit and the process flow has been established.
“The recent visit to the mine by Zimbabwe President Emmerson Mnangagwa was very encouraging and we are proud to play a part in the recovery of Zimbabwe’s mining industry,” notes Vast CEO Andrew Prelea.
He further notes that the political amelioration in Zimbabwe over recent months has made the company re-evaluate its activities there.
“We are now actively seeking new opportunities and exploring options through which to revive historic claims in order to build a significant presence in the region,” he states.
Gold Operations
Eureka is a modern gold mine, originally designed to produce up to 70 000 oz/y of gold from an openpit operation, which is currently being recommissioned to deliver production in the near term. The mine has a 1.8-million-tonne-a-year processing plant and associated infrastructure is in situ and remains in a serviceable condition, according to Vast.
Eureka has a National Instrument 43-101 mineral resource of 22.3-million tonnes at an average grade of 1.90 g/t for 1.367-million ounces of gold, of which 13-million tonnes is an indicated mineral resource at an average grade of 1.78 g/t for 1.08-million tonnes of gold.
Meanwhile, Vast reported a solid performance for the Pickstone-Peerless gold mine. Gold produced and sold at Pickstone-Peerless rose in the second quarter to the highest recorded levels, exceeding the record levels achieved in the previous quarter.
The plant is currently processing at a steady state of more than 30 000 t/m, a level which is expected to continue into future quarters.
Pickstone-Peerless has a current resource of 62-million tonnes grading 1.8 g/t, containing 3.56-million ounces of gold. Included in this resource is an openpittable ore reserve of 16.6-million tonnes grading at 1.9 g/t for 1.02-million ounces of gold.
The company also notes that success at Pickstone-Peerless has prompted redevelopment initiatives at its Giant mine, also in Zimbabwe. The mine has a current inferred resource of 0.5-million ounces.
Further exploration drilling is being evaluated in addition to consultations with representatives of artisanal miners on site.