Vast Resources expands exploration target at Baita Plai

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Vast Resources PLC (LON:VAST) told investors Friday it has increased the size of its exploration target at the Baita Plai polymetallic mine in Romania.

The company said that the size of the Antonio North area has increased to 1.4mln to 2.8mln tonnes, from 0.2mln to 0.5mln tonnes previously, which takes the estimate for the whole project to 3.2mln to 5.8mln tonnes from 1.8mln to 3mln tonnes.

The increase is the result of a review of historical data which has only recently become available.

READ: Vast publishes JORC resource

The exploration target is set alongside a JORC compliant mineral resource which states a gross resource of 608,000 tonnes at 2.58% copper equivalent.

Vast said it believes Antonio North represents a major near to medium term mining opportunity, and an underground exploration drilling programme is currently being compiled to better determine its potential.

“Antonio North represents a major opportunity for the company not only to expand our production profile but also to significantly extend the life of mine plan at Baita Plai,” said Andrew Prelea, Vast chief executive in a statement.

“The significant value potential of Baita Plai continues to reveal itself and we are committed to maximising this.”

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