Precious and base metal explorer Adriatic Metals (ASX:ADT) reports it is continuing to intersect ‘high-grade’ massive sulphide mineralisation up-dip, down-dip, and down-plunge from previously reported intersections at the Vares Silver Project in Bosnia and Herzegovina.
The company reports that drilling at the Rupice northwest extension (Rupice NW) returned assays from 3 drillholes that extended previously identified mineralised 152m up-dip of drillhole BR-08-22, confirming the continuity within the Upper Zone of mineralisation.
‘Significant’ new results recorded include hole BR-14-22 with 45.9m @ 701g/t silver equivalent (AgEq) and 22.5% zinc equivalent (ZnEq) from 216.10m; and BR-16-22 with 19.4m @ 681g/t AgEq and 21.9% ZnEq.
Mineralisation intercepted in these holes include silver (Ag), zinc (Zn), lead (Pb), copper (Cu), barium sulphate (BaSO4), and antimony (Sb).
Moving forward, Adriatic will continue drilling in 2023 to extend these target areas up and down–dip, along strike, and within areas of drilling gaps identified by 3D modelling of sulphides to fully define Rupice NW and attempt to connect it to the main Rupice mineral resource in Q1 2023.
The company is also seeking to complete a Mineral Resource Estimate (MRE) for Rupice and Rupice NW once drilling is advanced enough to better define the extents of larger than expected Rupice NW and Rupice mineralised bodies, as well as drilling across a 90m gap to connect Rupice to Rupice NW.
An additional diamond drilling rig is being mobilised to achieve 2023 drilling objectives, Adriatic also says a total of 4 diamond drill rigs will be focused on Rupice and Rupice NW.
Commenting on the results, Adriatic Metals Chief Executive Officer (CEO) and Managing Director Paul Cronin says: “I am delighted at the drilling success at Rupice NW which demonstrates that the mineralised system continues to expand and remains open along strike, up and down–dip.
“The ongoing success of the Rupice NW drilling campaign affirms Adriatic’s growth strategy to achieve at least a 20 year mine life at Rupice”
The ongoing success of the Rupice NW drilling campaign affirms Adriatic’s growth strategy to achieve at least a 20 year mine life at Rupice.
The sheer size of Rupice NW has meant that further drilling will be required to define the mineralised system. Drilling will therefore continue into 2023, to attempt to close–out mineralisation and connect Rupice NW to Rupice.
A maiden resource for Rupice NW will be released once existing areas of defined mineralisation are closed–off and the scale of the mineralised system within Adriatic’s tenement holdings has been fully realised.”
Adriatic reports this drilling follows ‘high-grade’ results announced in October 2022 from drillholes BR-04-22 to BR-13-22 located 90m to 250m northwest of the existing Rupice mineral resource.
The company says drilling outcomes in 2022 together with ‘extensive’ relogging, new sampling, interpretation, and modelling have provided a road–map to targeting mineralisation extensions at Rupice and Rupice NW in 2023.
Elsewhere, Adriatic will be conducting exploration drilling programs across the Droskovac, Seminzova, Ponvika, and Rupice West prospects throughout 2023. The company states all regional exploration projects are at the drill–test stage after completing geophysical, soil sampling, mapping, and interpretive work.
Adriatic Metals is a precious and base metals developer focused on its flagship Vares project in Bosnia and Herzegovina, as well as the Raska Zinc–Silver Project in Serbia. The Vares project is fully funded to production which is expected to begin in Q3 2023.
Images: Adriatic Metals Ltd
