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Vast Resources (VAST) Shares Edge Higher After Appointing Wardell Armstrong For Resource Verification

Updated: 18 Jun 2021

Vast Resources (LON: VAST) shares are up slightly on Friday after the company announced it has appointed Wardell Armstrong, a multidisciplinary environmental, engineering and mining consultancy, to work on the verification of the increased JORC Resource at the Baita Plai Polymetallic Mine in Romania.

The JORC Resource is being targeted with an upcoming exploration drilling campaign.

“The objective of the upcoming exploration drilling campaign is to target the downdip extension of the Antonio skarn from 19 level to 22 level and to convert part of the Exploration Target.” said Vast.

The company stated that exploiting the Antonio skarn at planned production capacity to a 21 level elevation would provide sufficient mineralisation for approximately seven to eight years.

Vast intends to expand exploration drilling to the Antonio North skarn in early 2022.

Andrew Prelea, CEO Vast Resources plc, commented: “Wardell Armstrong is an internationally acclaimed and trusted mining consultancy and we are delighted to appoint the firm to our advisory team for Baita Plai.

“Building on the work that they have successfully concluded relating to our existing MRE, we look forward to working with them as we unlock the further potential of this significant mine in tandem with the production and sales that we continue to deliver during the ramp-up phase.”

Vast Resources' share price is currently up 0.65% at 7.8p. However, it is down 40% for the year to date and 60% in the past 12 months.

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