Summary

Mine Type	Open Pit
Status	Care and Maintenance
Commodities	Copper Lead Zinc Gold Silver
Mining Method	Truck & Shovel / Loader
Production Start	...
Mine Life	...
Snapshot	The Manaila Polymetallic Mine (“MPM”) has remained on care-and-maintenance during the period and the Company is actively engaged with new investors to support the restart. The Company was granted the Manaila Carlibaba Exploitation License to 29 October 2025. Manaila-Carlibaba represents a highly attractive development opportunity for Vast – comprising a previously producing mine now on care and maintenance, together with a sizeable and highly prospective land package which has the potential to host an open pit and high-grade underground mine.

Deposit type

• Sedimentary - Volcanogenic

Summary:

The local geology at MPM comprises lithologies of the lowermost units of the TG4 and the uppermost units of the TG3 formations of the Tulghes Group. They comprise the following:

• TG4 Formation - Basque Formation;
• TG3 Formation - Fundu Moldovei and Morosan Members.

The Morosan Member of the TG3 formation is a rhyolitic volcano sedimentary sequence comprising alternating sequences of quartz sericite schists -\+ chlorite -\+ graphite and metamorphosed rhyolites. The top of the sequence is marked by the development of a chlorite sericite schist with porphyroblasts of albite. The contact between the Morosan Member and the overlying Fundu Moldovei Member marks the development of the sulphide mineralisation at MPM.

The Fundu Moldovei Member of the TG3 Formation is represented by a predominantly metamorphosed rhyolites and quartz-sericite schists, which vary in thickness. The top of the TG3 Formation is marked by the development of the polymetallic mineralisation associated with the mineralisation located within the Putnei – Prasca valley (Lesul Ursului, Fundu Moldova). This mineralised zone occurs along the northern boundary of the current exploration perimeter.

The Basque Member of the TG4 Formation is present in the north-western of the exploration perimeter and is comprised of a cyclic alternation of various blasto-detrital quartzites and phyllitic lithologies. Thin beds of acid metatuffs occur in the upper portions and indicate late-stage extrusive rhyolitic volcanism. The TG4 Formation represents detrital material deposited during and after the waning stage of volcanism.

According to microscopic studies on mineral samples from MPM conducted by Moldoveanu, the ore consists predominantly of pyrite and chalcopyrite. X-Ray Diffraction (“XRD”) determinations of quartz, pyrite and chalcopyrite were performed with a reasonable accuracy. This led Moldoveanu to conclude that the ore paragenesis is most likely of an initial volcanogenic Kuroko type and it consists of pyrite, chalcopyrite, some sphalerite, galena and tetrahedrite.

Polymetallic mineralisation at MPM comprises a disseminated sulphide and a massive sulphide which grade into one another. The massive sulphide unit can be further subdivided into a pyrite-rich massive sulphide and a polymetallic massive sulphide although the contacts are gradational with one another.

The disseminated sulphide unit typically forms the flanks of the massive sulphide mineralisation and is the dominant type of mineralisation present. The grade tenor is lower than that of the massive sulphide and typically grades 0.2% - 0.6% Cu and Zn with localised increases in value to over 1.0% Cu and Zn.

The majority of the sulphide minerals are in a subhedral form and the massive sulphide exhibits a hypidiomorphic texture which can grade both vertically and laterally into a semi-massive sulphide showing banding and ultimately into a disseminated sulphide orebody.

Lithostratigraphic horizon as the polymetallic massive sulphide within the quart-sericite schist and typically grades out from the polymetallic massive sulphide ‘core’.

The mineralisation remains concordant with bedding of the host quartz sericite schist, dipping at approximately 300-400 to the northeast with locally variable induced through localised faulting. Horizontal thickness as exposed from underground workings ranges from 0.5 metres to 17.0 metres, averaging 3.5 metres in horizontal thickness. This converts to a true thickness of approximately 0.3-10.9 metres.

Mineralisation takes the form of pyrite (approximately 70% of total sulphide mineralisation), chalcopyrite with subordinate tetrahedrite, sphalerite and galena. Gangue materials form irregular masses and form a small percentage of the massive sulphide. The gangue minerals are typically quartz, chlorite and carbonate with subordinate chlorite and clay minerals.

Mining Methods

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Comminution

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Processing

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Commodity Production

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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Aug 19, 2024
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