Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has made significant progress with its Rupice Northwest (RNW) deposit, in Bosnia and Herzegovina, exceeding its exploration objectives.
The results not only underscore the deposit's potential but also pave the way for a major update to the mineral resource estimates for Rupice, due in July.
Key discoveries at RNW, which is part of the flagship Vares Silver Project, included an extension of mineralisation towards the west and the southwest, closer to Rupice, and the definition of the high-grade 'Lower Zone'.
Furthermore, RNW was resolved to be a separate but overlapping mineralised body rather than connected to Rupice, opening up potential development opportunities.
Interestingly, the RNW 'Lower Zone' confirmed its copper-gold rich nature with high-grade lead, zinc, silver, and antimony and reduced barium.
Higher grade but narrower mineralisation was also identified, exemplified by the reported 9.30m assay at 2,624.8 grammes per tonne of silver equivalent or 84.40% zinc equivalent from the 'Lower Zone' in hole BR-22-23.
Elevated copper and gold levels were also noted at the western extent of RNW, with a 13.00m sample matching the 'Lower Zone' with 3,064.3g/t AgEq or 98.53% ZnEq in hole BR-22-23.
In the gap between the Rupice and RNW deposits, drilling revealed overlapping mineralised bodies, with high grades returned from narrow metal-rich zones.
Infill drilling in the second quarter demonstrated continuity in high grades and mineralisation thickness between previously drilled holes, de-risking RNW to an Indicated resource level of confidence. This provides the foundation for the upcoming Rupice Mineral Resource Estimate in July 2023.
By the end of June, the potential for resource expansion at Rupice, RNW, and the RNW Lower Zone remained promising, underscoring the extensive nature of the polymetallic mineralised system and region.
Adriatic Metals also commenced drilling at Rupice West with a fourth diamond drill rig, as part of an aggressive regional exploration programme for new precious and base metals deposits.
"Drilling has demonstrated narrower but higher-grade zones of mineralisation and added quality base and precious metals rich tonnes peripheral to the thick centre of RNW," said managing director Paul Cronin.
"Extension drilling to the west and southwest of RNW saw strong increases in copper and gold grades as mineralisation narrowed, while retaining outstanding lead, zinc and silver grades."