Key Headlines:

  • Opportunity to acquire up to 55 precious metal and polymetallic mines
  • Wide underground ore bodies that can facilitate mass mining
  • Major exploration opportunities over 100km prospective land package
  • Government has recommended awaiting near-term new mining legislation to facilitate recommencement of negotiations to acquire

Vast Resources has a Memorandum of Understanding with Remin SA, a Romanian state government company, to complete an exclusive due diligence exercise on Remin’s mining assets. Until 1997 Remin operated a chain of over 55 precious metal (gold and silver) and polymetallic (lead, zinc and copper) mines over more than 100km of strike length in the highly prospective Carpathian mountains in northern Romania.

Three main asset classes have been identified, which would provide the basis for a staged development programme targeting five high priority projects:

  • Tailings/stockpiles that can be recycled
  • Open pit mining on gold-silver caps of epithermal veins
  • Wide underground ore bodies that can facilitate mass mining

Additional development opportunities are available with exploration potential over 100km of the Carpathian mineral belt with further upside available in the belt on land not controlled by Remin.

The Company’s primary focus is on the advancement and recommencement of mining at Baita Bihor, which will act as a proof of concept for the downstream development of Remin’s mining assets.