Vast holds a 29.41% interest in the Blueberry Project, a 7.285km² brownfield area of prospectivity in the Golden Quadrilateral located in the immediate vicinity of the now closed Baia de Aries mine. The Golden Quadrilateral has significant areas of polymetallic prospectivity (copper, zinc and lead coupled with particularly high gold and silver) and has been estimated to have produced approximately 55 million ounces of gold in the past. Also in the Golden Quadrilateral are Rosia Montana with a reported NI 43-101 Resource of 17.1 million ounces of gold and 81 million ounces of silver (SRK Consulting – October 2012) and Euro Sun Mining’s, Rovina Valley project with a reported 7.2 million ounces of gold and 1.4 billion pounds of copper (AGP Mining Consultants – NI 43-101 – July 2012).
Historic work across the perimeter area has demonstrated prospectivity for gold and polymetallic mineralisation with sample values of up to 22.4g/t of gold were obtained from historic soil sampling. A drilling programme and assaying is underway, which is anticipated to deliver sufficient information to support an Inferred JORC Mineral Resource for gold and other polymetallic minerals including silver, copper, lead and zinc in one or more of several distinct breccia pipes.
Vast’s interest in Blueberry is held through Vast’s subsidiary company, EMA Resources Ltd, which is intended to develop into a standalone enterprise significant enough to justify an IPO. It is intended that Vast will have management and control of the future mining operations at Blueberry, and also over the exploration programme and the IPO process in consideration of a fee equal to 10% of pre-IPO costs.
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