Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) managing director Paul Cronin described “an outstanding year of rapid resource growth” as the exploration today confirmed the successful completion of its 2023 drill programme for the Rupice Northwest (RNW) deposit, part of the Vares project in Bosnia & Herzegovina.
At RNW, a separate project area from the main Rupice deposit, the company has completed a phase of exploration drilling and infill drilling, delivering higher drill density (with about 25 metres between holes in some areas), and has expanded the deposit’s boundaries with ‘step-out’ holes.
“RNW has expanded westward and to the southeast, bringing it closer to the Rupice deposit and access to underground mining. High silver, zinc and lead grades continue at mineable widths with elevated gold and copper grades,” Cronin said in a statement.
“Systematic infill drilling also reports thickening of the deposit between pre-existing holes with grades equivalent or better in areas drilled than in equivalent parts of the mineral resource estimate (MRE).
“This material increase in resources is in additional to the July 2023 Rupice MRE inventory and showcases the robust nature of the deposit and scope for ongoing growth.”
Cronin meanwhile highlighted that exploration drilling, regionally, has seen the company test the Droskovac-Brezik where early drilling has confirmed a base metals zone beneath historic iron ore mining.
Commenting on Droskovac-Brezik, Cronin added: “Five holes have intersected continuous iron, lead, zinc, silver rich massive sulphide mineralization. An exciting project that will be accelerated in 2024."
The company said that the final batch of results from the 2023 programme are expected in December, and, its anticipated this will be followed by a resource update in December.
Drill rigs used at RNW are relocated for work at Rupice, where they will aim to expand the known deposit at its northern and southern extents – parts of the deposit which are described as “under-drilled and open-ended”.