Search

Adriatic hits more massive sulphides in Bosnia

Adriatic Metals has extended its Rupice high-grade poly metallic deposit in Bosnia by another 20 metres at depth with a stellar intercept of over nearly 9 metres running at 2.4 grams per tonne gold, 398g/t silver, 1.79% zinc, 3.16% lead, 0.35% copper and 45% barite from 368.5m down hole.

The company said this is the deepest massive sulphide intercept at the southern end of Rupice and it has confirmed the deposit is still open at depth and to the south, north and east.

Adriatic said the mineralisation at Rupice is heading south towards the Jurasevac- Brestic prospect and that with the winter months at an end, it will be able to continue drilling to test both to the south and at depth.

Other new diamond drill hole results have also confirmed that the central part of the deposit is still running strong with some very decent width’s intersected, including 26.7m grading 3.95g/t gold, 502g/t silver, 6.75% zinc, 3.76% lead, 0.35% copper and 72% barite from 275.5m.

Another notable result from central Rupice was a 31m zone grading 3.85g/t gold, 335g/t silver, 9.50% zinc, 8.12% lead, 0.76% copper and 36% barite from 198m.

Rupice looks to be going hard now and the company said that the additional diamond drill holes will provide valuable information for geotechnical studies and the prefeasibility studies that are in progress.

Additionally, Adriatic said that it now has a firm handle on the structural complexity and geology of the deposit, which will ensure that any resources developed feed into a high quality and high confidence development study.

Early last month, the company assured the market that it was fully operational despite some restrictions due to the Coronavirus pandemic and with two rigs churning away at Rupice and two running at its newly defined gravity target at Jurasevic-Brestic prospect, that appears to be the case.

Paul Cronin, Adriatic’s Managing Director and CEO said:“With the winter months behind us, we will now look to expand our mineralisation in the northern plunge, whilst continuing to test the southern and depth extents”.

With all of Adriatic’s recent drilling continuing to expand the size of its ore deposit and the company now poised to potentially find more, it’s no wonder it is biding its time before it looks towards completing pre-feasibility study - there just might be a significant resource upgrade come. 

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®