30th Mar 2016 10:24
LONDON (Alliance News) - Vast Resources PLC on Wednesday said its Romanian subsidiary has secured an extension to its prospecting licence for the Manaila polymetallic mine.
Vast said the grant of the extension will mean the prospecting licence covers an additional area of around 1.32 kilometres in addition to the 0.07 square kilometres previously held, meaning the total licence area will increase 20 times over.
Historical exploration of the site indicates the potential orebody extends to the both the north west and south east of the site.
A phase one drilling campaign on the extended licence area will start in the southeast of the licence area in the second quarter, Vast said.
Vast shares were up 4.4% to 0.24 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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