Vast Resources (AIM:VAST ) said it is ‘extremely pleased’ with initial indications from metallurgical test work conducted at its Baita Plai Polymetallic Mine “Baita Plai” in Romania.
The AIM-listed mining firm confirmed that two sample batches of three samples each were taken from the underground working areas within the existing mine area.
Initial flotation test work focused on producing a saleable copper concentrate with minimal deleterious elements which the group said could reduce the overall value of the concentrate.
The results showed concentrate grades of 20-28% copper with recoveries seen between 84% and 94%, while test concentrates in the samples also included molybdenum, zinc and lead.
The group said the grades were greater than originally forecasted and it expects that the underground drilling currently underway will further confirm similar grades at depth.
Shares in Vast Resources were trading 12.12% higher at 0.185p on Tuesday.
Vast highlighted that Batch 2’s work confirmed historical metallurgical results for the period 1999 – 2009 which recorded a copper recovery of 85.5% with concentrate grading 28.2%.
The metallurgical test results also provide increased insight into the expected gold and silver values in the working areas which would ‘substantially increase’ the value of saleable copper concentrate.
The group said test work will continue with the view to providing a cost effective and efficient means of producing the three independent concentrates, copper, lead and zinc.
Vast said it will provide an update on the continuing drilling, which is being conducted by mineral consultancy, Grinding Solutions, and assay results over the next four to six weeks.
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