Vast Resources PLC estimated a maiden JORC-compliant mineral resource and defined an exploration target for both the open pit and underground resources at its producing Manaila polymetallic mine in Romania.
The maiden estimate for the open pit stands at indicated and inferred resources of 2.6 million tonnes at 1.0% copper, 0.4% lead and 0.9% zinc, at a 0.25% copper cutoff, according to a Sept. 27 statement.
The underground resources total 310,000 tonnes at a grade of 1.7% copper, 0.4% lead and 0.5% zinc, at a 1.00% copper cutoff.
Additionally, the company defined an open-pit exploration target of 4.45 million tonnes to 11.88 million tonnes with grades of up to 2.3% copper, 0.5% lead and 1.1% zinc.
The underground exploration target is estimated to be between 5.92 million tonnes and 15.78 million tonnes, with grades of up to 2.6% copper, 2.0% lead and 2.6% zinc.
In early September, Vast signed a long-term off-take agreement with Transamine Trading SA for all concentrates produced at the Manaila mine.