Takob18 Oct 2023 14:38
Vast has also executed a Memorandum of Understanding linked to processing the tailings produced at Takob.
As part of this project, its joint venture partner, Formin TJK (“Formin”), has commenced surveying, soil sampling and preliminary drilling on site at the tailings facility and the results will be announced upon receipt from ALS Romania. Formin reported visible signs of lead, zinc and precious metals, including gold, silver & platinum group metals, in the tailings facility. Initial surface survey results compiled by Formin show that there is a minimum of 1 million tonnes and up to 3.3 million tonnes of tailings. The depth of the tailings is to be determined once drilling is completed.
The funding for this project, which may be up to U$20 million, will be provided by CAMM on the same or similar terms as the Company’s existing Takob Joint Venture Project.
Tailings are Mine Waste. Tailings are the waste materials left after the target mineral is extracted from ore.