REG-Update on Piciorul Zimbrului & Magura Neagra Licences <Origin Href="QuoteRef">VAST.L</Origin>

Vast ResourcesAnnouncement

17/10/2017 14:31

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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
17 October 2017 
Vast Resources plc
("Vast" or the "Company")

Update on Piciorul Zimbrului & Magura Neagra Licences

Vast Resources plc, the AIM listed mining company with operations in Romania
and Zimbabwe, announces that further to the announcement on 22 December 2016,
the Company is pleased to provide an update on activities on the Piciorul
Zimbrului and Magura Neagra prospecting licences, located in the vicinity of
the Company's 100% owned Manaila Polymetallic Mine ('Manaila') in Romania.

Overview
* Prospecting activites have commenced at Piciorul Zimbrului and Magura Neagra
in line with Vast's strategy to increase the resources near Manaila and expand
its Romanian mineralised footprint through the acquisition of brownfield
mining operations and known discoveries 
* Piciorul Zimbrului and Magura Neagra are located 74km from  Vast's 100%
owned producing mine at Manaila 
* Historical exploration activities have demonstrated both licences'
prospectivity for polymetallic mineralisation 
* The first stage of prospecting has been paid for out of existing cash
resources 
* Further investment in prospecting and development activities will be made in
Q2 and Q3 2018 by which time Vast expects to have finance agreements secured
for the advancement of the prospecting licences  
Activities
* Initial access surveys to the areas of interest 
* Initial rock sampling has commenced with the collection of 16 in-situ rock
samples 
* Geological mapping of 7.6km of outcrop 
* Demarcation and confirmation of existing underground adits and
infrastructure 
* Accessible areas demarcated for further work entailing the following; * 225
soil samples from Magura Neagra 
* 240 soil samples from Piciorul Zimbrului 
 
* This represents the commencement of the exploration activities as defined in
the prospecting works programme submitted for the prospecting licences
approved 21 December 2016
             

Further Information

Piciorul Zimbrului Licence 
Located in the Zagra Talisua area in Bistrita-Nasaud County of Romania, the
10km(2 )Piciorul Zimbrului prospecting licence ("Piciorul") is approximately
74km from the Company's producing Manaila mine.

Previous exploration activities, conducted by the former state exploration
company between 1981 and 1989, included underground development and
underground diamond drilling consisting of 1,200m underground development,
862m surface diamond drilling and geological mapping over an area of 4.0km(2).
 Several trenches and pits totalling 3,484m(3) and 238m were excavated on
surface.

This work identified a total of six veins, with associated copper and gold
mineralisation of approximately 820m in length along the underground drives at
an elevation of 835m above mean sea level ("amsl").

A further two veins with associated polymetallic mineralisation were
investigated with an additional two veins exhibiting gold, silver, and
antimony mineralisation, encountered in the underground development at an
elevation of +950m amsl.

The veins are hosted within Paleocene sandstones and the full extent of the
veins has not been defined.  Mention is made in literature of exploration
activities undertaken in 1981 for disseminated porphyry copper in the
silicified sandstones.

Magura Neagra Polymetallic Licence 
Located in the Zagra-Teliciu area in Bistrita-Nasaud County of Romania the
21km(2) Magura Neagra licence ("Magura Neagra") is believed to be contiguous
to the Piciorul licence and is approximately 74km from Manaila.

A spatial analysis of the vein system by the State mining company between 1981
and 1989, identified areas of intense silicification and occurrences of
disseminated mineralisation which indicate the possible presence of a porphyry
copper type mineralising system together with mineralised veins containing
gold, silver, molybdenum, lead and zinc.

In the valley tributaries of the Tibles mountains, five veins were outlined
historically by means of underground development and surface diamond drilling
reportedly totalling 3.0Mt of gold, silver, and polymetallic mineralisation.

Porphyry style copper mineralisation appears to be associated with the vein
systems, with areas of intensely silicified sandstones with disseminated
sulphide impregnations.  Initial estimates by the Romanian exploration teams,
both historically and those led by Vast, related to the porphyry style
mineralisation have indicated an exploration target (non JORC compliant) of up
to 3,000Mt of ore to a depth of 600m, at grades ranging from 0.4% copper
("Cu") and 0.3g/t gold ("Au") up to 0.8% Cu and 0.5g/t Au.

An assessment of the area will require further exploration work comprising
underground development and sampling, surface diamond drilling and
metallurgical test work.

A secondary area within this prospecting perimeter, Magura Neagra, was
investigated during 1989 by the state prospecting company IPEG Cluj by means
of surface trenching. Disseminated copper and molybdenum mineralisation was
found to be hosted within the country rock and a stock work fracture system
related to quartz diorite stock.  Grades are estimated to be in the range of
0.44%-0.9% Cu, 60-65 g/t Ag, 0.5%-0.6% lead ("Pb"), 1.1%-1.3% zinc ("Zn") and
1.0-1.3 g/t Au.

Geological experts within Romania have surmised the presence of a major
porphyry type copper mineralisation system located in and around the area of
Tarlisua-Zagra, which bears similarities to the major porphyry deposits at
Trinity Bolcana and Rosa Poieni.

In accordance with an existing contractual agreement with the Group,
management interests (being Andrew Prelea's) in the two licences are 15% on
terms to be announced in the future; Vast having the other 85%.

Competent Person's Review:
This announcement has been reviewed by Mr Craig Harvey, Chief Operating
Officer at Vast, and a member of the Geological Society of South Africa and
the Australian Institute of Geoscientists. Mr Harvey meets the definition of a
"qualified person" as defined in the AIM Note for Mining, Oil and Gas
Companies.

-ENDS-

For further information visit www.vastresourcesplc.com or please contact:

 Vast Resources plc Roy Pitchford (Chief Executive Officer)                    www.vastresourcesplc.com +44 (0) 20 7236 1177   
 Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle  www.beaumontcornish.com                         
                                                                               +44 (0) 020 7628 3396                           
 Brandon Hill Capital Ltd - Joint Broker Jonathan Evans                        www.brandonhillcapital.com +44 (0)20 3463 5016  
 Peterhouse Corporate Finance Ltd - Joint Broker Duncan Vasey                  www.pcorpfin.com +44 (0) 20 7469 0936           
 St Brides Partners Ltd Susie Geliher Charlotte Page                           www.stbridespartners.co.uk                      
                                                                               +44 (0) 20 7236 1177                            

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR").

**ENDS**

Technical Glossary

Spatial analysis
A means of analysis applied to data or data sets which analyses the
relationships  between data points or lineaments in terms of their location
to one another.

Sulphide impregnations
The occurrence of sulphide minerals as an impregnation within the host rock or
as incusions within host material.

Notes

Vast Resources plc is an AIM listed mining and resource development company
focussed on the rapid advancement of high quality brownfield projects and
recommencing production at previously producing mines.

With this strategy, Vast Resources commissioned two mining operations in 2015;
the Manaila Polymetallic Mine in Romania and the Pickstone-Peerless Gold Mine
in Zimbabwe.

The Company has a broad portfolio of additional exploration and development
projects in Romania and Southern Africa with significant potential for
exploitation in the mid- to long- term.  This includes the Baita Plai
Polymetallic Mine in Romania, where work is currently underway towards
obtaining the relevant permissions to start developing and ultimately
commissioning the mine.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq 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