Adriatic hits highest grades yet in Bosnia
Adriatic Metals has continued its run of amazing drill results from its Bosnian, multi-commodity play with the latest numbers showing a 24 metre intersection going 8.6g/t gold and 332g/t silver from 226m down-hole. It was hiding within a spectacular intercept of 42m @ 14.1% zinc, 8.4% lead, 5.7g/t gold, 245g/t silver, 1.4% copper and 34% barite from 222m at the Rupice prospect in Bosnia.
The latest intercept represents Adriatic’s best yet result in Bosnia and highlights with dramatic effect, the precious metals prospectivity of the project in addition to its obvious base metals opportunity.
The thickness of the precious metals grades alone would have most West Perth small cap punters spilling their lattes, and with a combined 22% lead/zinc grade, market watchers could be forgiven for being a little confused about just what the key commodity is at this extraordinary project.
Adriatic Chief Executive Officer Geraint Harris said: “BR-22-18 continues to confirm not just the continuity of the thick and high-grade mineralisation but the spectacular precious metals content not previously assayed in the majority of the historical drilling, and which will be incorporated into our maiden mineral resource estimate at Rupice.”
A further intersection turned up 12m @ 1.4% zinc, 2.8% lead, 0.8g/t gold, 228g/t silver, 0.3% copper and 16% barite from 74m down-hole and was located up-dip from previous intercepts extending the mineralisation to the southwest.
According to the company, sulphide mineralisation at the project is visually distinct from the sedimentary host rock replete with saleable barite and consists of sphalerite, galena and chalcopyrite containing the zinc, lead and copper respectively.
Drilling is continuing around the clock now with 4 diamond drilling rigs going flat out at Rupice as the company edges closer towards defining a much-anticipated maiden mineral resource estimate at Rupice.
The footprint of the Rupice mineralisation now extends over 350m of strike southeast-northwest, is at least 250m wide and has ben drilled to a vertical depth of 300m from surface.
Mineralisation remains open down-plunge to the north, beyond the limits of the currently approved exploration concession.
In August, Adriatic reported it had received unanimous council approval to extend the Rupice concession to the northwest and southwest, opening up more prospective looking territory for exploration and development.
The company’s share price has more than tripled since listing six months ago, today closing at 63c bringing its market cap to $82m.
Adriatic Metals (ADT)
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