Pickstone Mine production begins next month

Senior Business Reporter
AIM-listed gold mining company, Vast Resources’ Pickstone-Peerless in Chegutu will begin production next month with an estimated output of 10,000 ounces per year.

Following a failed acquisition of Dalny Mine last year, Vast Resources formerly African Consolidated Resources (ACR) secured a $2 million loan from a local bank to start the development of Pickstone Peerless Gold Mine.

The mining concern announced that it had changed name early this year to reflect a number of business opportunities that it undertook in 2014.

“The company is pleased to announce that strong progress is being made in advancing the Pickstone-Peerless Gold Mine in Zimbabwe into production in August 2015. The mine is being commissioned, with an estimated annualised gold production of circa 10,000oz . . .” the company said in a statement.

“With the start of blasting, the processing plant construction well advanced and production on track, this is a very exciting period of development.”

As part of developments of the gold mine project, Vast Resources said the first two blasts, one at the Pickstone open pit and one at the Peerless open-pit had been completed, with run-of-mine ore being stockpiled at the feed pad to the crusher, ready for the wet commissioning of the crusher circuit.

The circuit comprising a primary crusher, two secondary crushers and a cone crusher, had been completed.

“This would allow for additional construction personnel to be allocated to the milling circuit and the carbon-in-leach/carbon-in-pulp tanks.

Electro-winning and the gold production facility, as well as the ancillary facilities, such as the laboratory, accommodation and mine offices had also been completed,” said the company.

Vast chief executive officer Roy Pitchford was quoted as saying:

“In addition to realising commercial production in Zimbabwe, we continue to advance our polymetallic interests in Romania and we look forward to updating shareholders on our activity in both Zimbabwe and Romania in due course”.

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