Vast Resources plc, the AIM-listed producing mining company, is pleased to announce that its second Mantis CMR4 production drilling rig has been delivered to site at the Baita Plai Polymetallic Mine in Romania.
As previously reported, the implementation of the Mantis drilling rigs will increase drilling by up to 3.5 times with a reduction of labour at the drilling face, thereby allowing additional faces to be worked. This second Mantis drill rig will be deployed during the course of this week to develop infrastructure from below 18 level on the Antonio Skarn, to a planned 21 level elevation for commencement of the new decline in the first week of Q3 2022 as programmed.
With the two new Mantis drills on-site and the transition to mechanised mining, together with the implementation of long hole stope mining, significantly increased production output is expected from the end of Q2 2022 onwards.
Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:
“We now have our second Mantis rig on site at Baita Plai, which is a critical piece of equipment to support the rapid increase in production expected through the implementation of long hole stope mining. This rig is being deployed on 18 level during the course of this week and, together with the other operational developments that are being introduced over the coming weeks, we expect to see a significant improvement in our production profile from the end of the current quarter onwards.”
For further information, visit www.vastplc.com or please contact:
Vast Resources plc
Andrew Prelea (CEO)
Andrew Hall (CCO)
+44 (0) 20 7846 0974
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