October 31 (SeeNews) - UK-based Vast Resources said that it has raised $1 million (880,000 euro) for the gold focussed polymetallic Blueberry Project located in western Romania.
The funding was secured from individual investors by Vast's subsidiary EMA Resources, it said in a press release on Tuesday.
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"I am delighted to receive confirmation of the support for the Blueberry Project from an institutional investor and that Vasts interest in the Blueberry Project is now confirmed. I look forward to giving further news on drilling and assay results as they become available," Vast Resources CEO Andrew Prelea said.
In August, Vast Resources acquired an indirect 29.41% interest in the Blueberry project.
In October, Vast Resources said it has received approval from Romania's National Agency for Mineral Resources (ANRM) to mine at Baita Plai polymetallic site, where it holds an 80% interest.
Besides Baita Plai, Vast also holds the Manaila mine and owns an 80% interest in a prospecting licence over the Faneata tailings dam located 7 km from Baita Plai.
Vast Resources, formerly known as African Consolidated Resources Plc, is an emerging mid-tier, multi-commodity, multi-jurisdictional development and mining company with a project portfolio covering gold, nickel, copper, phosphate and diamonds. It also owns a gold mine in Zimbabwe.
($= 0.8816 euro)