Vast Resources plc First Gold Pour At Pickstone-Peerless Gold Mine, Zimbabwe

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   23 September 2015 
 
   Vast Resources plc 
 
   ("Vast" or "the Company") 
 
   First Gold Pour at Pickstone-Peerless Gold Mine, Zimbabwe 
 
   Vast Resources plc, the AIM-listed resource development and production 
company, is pleased to announce that production has commenced at its 584 
hectare Pickstone-Peerless Gold Mine in Zimbabwe ("Pickstone-Peerless"), 
with its first gold smelt producing 8.5kg of gold bullion, which will be 
delivered to the Fidelity refinery in Harare.  This milestone follows 
the maiden sale of approximately 450 tonnes of copper concentrate at 
Vast's 50.1 per cent. owned Manaila Polymetallic Mine in Romania 
("Manaila") (see announcement dated 22.09.15), thus firmly cementing the 
Company's transition from an exploration to a production company. 
 
   Pickstone-Peerless has a current JORC Resource of 62 million tonnes 
grading 1.8 g/t, containing 3.56 million ounces of gold.  Included in 
this Resource is an open-pittable Ore Reserve of 16.6Mt grading at 1.9 
g/t for 1.02 million ounces.  Initial production is on-track at a rate 
of 10,000 tonnes of ore per month from the open cast oxide gold cap, 
with an estimated life of six years.  During this period, expansion of 
the plant to treat the open cast sulphides, at a rate at least double 
the current monthly volume, will be evaluated. 
 
 
 
   Roy Pitchford, Chief Executive Officer, commented: 
 
   "This is a historic week for Vast Resources.  With Pickstone-Peerless 
and Manaila now both in production, producing gold and copper 
respectively, we are firmly on track to build a significant cash 
generative mining company.  With an established resource of in excess of 
3.5 million ounces and a defined development strategy, 
Pickstone-Peerless has significant commercial value, and I am confident 
that we will continue to extract value for the benefit of all 
shareholders." 
 
   ** ENDS ** 
 
   For further information visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                        [phone] 
 Roy Tucker (Finance Director)                             [phone] 
 
  Roy Pitchford (Chief Executive Officer)                  [phone] 
                                                           [phone] 
                                                           [phone] 
 
  Strand Hanson Limited - Financial & Nominated Adviser    www.strandhanson.co.uk 
  James Spinney                                            [phone] 
  James Bellman 
 
  Daniel Stewart and Company plc - Joint Broker            www.danielstewart.co.uk 
  Martin Lampshire                                         [phone] 
  David Coffman 
 
  Dowgate Capital Stockbrokers Ltd - Joint Broker          www.dowgatecapitalstockbrokers.co.uk 
  Jason Robertson                                          [phone] 
  Neil Badger 
 
  St Brides Partners Ltd                                   www.stbridespartners.co.uk 
  Charlotte Heap                                           [phone] 
  Hugo de Salis 
 
 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Vast Resources plc via Globenewswire 
 
   HUG#1953849 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

September 23, 2015 02:00 ET (06:00 GMT)

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