Vast’s Pickstone-Peerless gold production up 28 percent


AIM listed junior miner Vast Resources said gold production at its Pickstone-Peerless mine in Chegutu increased by 28 percent to 6 057 ounces in the fourth quarter ending December 2017 compared to 4 738 ounces recorded in September.

In a quarterly production summary, the group said 90 874 tonnes of ore were mined, a 27 percent increase from the 71 533 tonnes recorded in the previous quarter.

The group said production of sulphide ore is scheduled to start this year and a significant increase in installed primary milling capacity is anticipated once the sulphide plant is commissioned to 33 000 tonnes per month.

“Construction of the sulphide plant is progressing – crushing, milling and leaching components of plant now commissioned and flotation cells to be commissioned in the coming months,” said chief executive Andrew Prelea.

“Mill grade is expected to increase from 2.33g/t to between 3.00g/t and 4.00g/t over a six to nine month period as higher grade sulphide ore is mined and processed, resulting in a significant increase in production.”

The company said evaluation of the Giant Gold Project was ongoing and that artisanal miners had been relocated from the licensed area.- The Source




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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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