Heritage Concession – Marange Diamond Fields: Grant of Right to Mine

14 Feb 2019 14:15

Heritage Concession – Marange Diamond Fields: Grant of Right to Mine

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

14 February 2019

Vast Resources plc(“Vast” or the “Company”)

Heritage Concession – Marange Diamond FieldsGrant of Right to Mine

Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, is pleased to announce that the Chiadzwa Community Development Trust has in principle been granted the right to mine diamonds in joint venture on the Heritage Concession (Block T1A of the Marange Diamond Fields) and has appointed Vast as its joint venture partner in the exploration and mining of diamonds in the area.

The Company is aware that the Chiadzwa Community Development Trust is associated with the Marange-Zimunya Community Share Ownership Trust, the community trust named in the Company’s original announcement on the Heritage Concession of 22 August 2018.

Further information will be released to the market in due course.

**ENDS**

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

Vast Resources plc Andrew Prelea (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 BrokerJonathan Evans	www.brandonhillcapital.com+44 (0) 20 3463 5016
SVS Securities Plc – Joint Broker Tom CurranBen Tadd	www.svssecurities.com +44 (0) 20 3700 0100
St Brides Partners Ltd Susie Geliher Juliet Earl	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”).

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 in Romania and Zimbabwe.

Vast Resources currently owns and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Company’s Romanian portfolio also includes interests in two brownfield development projects; the Baita Plai Polymetallic Mine (80% interest), which has a reported 1,800,000-tonne copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area; and the Blueberry Project (29.41% interest), a 7.285km² brownfield area of prospectivity in the Golden Quadrilateral of Romania located in the immediate vicinity of the now closed Baia de Aries mine.

The Company also has interests in a number of projects in Zimbabwe including a controlling 25 per cent. interest in the producing Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka Gold Mine, and an 86.67% interest in a SPV which has a due diligence access agreement and pre-agreed joint venture terms on a diamond concession within the Marange Diamond Fields, widely considered to be one of the richest sources of alluvial diamonds globally.