Bosnian beast growing for Adriatic
Adriatic Metals’ beast of a mineral deposit is continuing to grow, courtesy of even more fantastic, multi-mineral drill intersections at the Rupice prospect.
The company said that it had extended mineralisation at Rupice by a further 140m down-dip with a new spectacular 28m long intersection going 10.8% zinc, 5.9% lead, 271g/t silver, 3.4g/t gold, 0.5% copper and 61% barite from 236m down-hole at the northern end of the concession.
An infill drill hole also turned up 24m @ 14.8% zinc, 7.7% lead, 167g/t silver, 3.7g/t gold, 0.7% copper and 53% barite from 220m down-hole.
Another infill drill hole returned 18m @ 8.2% zinc, 4.2% lead, 131g/t silver, 1.4g/t gold, 0.8% copper and 27% barite from 200m down-hole.
Adriatic is gradually building up a picture of the Rupice mineralisation and drilling is continuing for the cashed-up junior, with 4 rigs currently in operation.
Historically, only 35% of drilling was assayed for precious metals and the high correlation between high-grade base metals and precious metals values noted from the Rupice deposit, provides a significant potential economic opportunity for the company.
Recently Adriatic received unanimous municipal approval to expand the limits of its Rupice exploration concession to the north and east, which will likely allow the company to increase its eventual mineral resource tonnages at the prospect.
Adriatic CEO Geraint Harris said: “… these holes not only expand the mineralised footprint but also continue to confirm the continuity of the thick mineralisation and the very high-grades drilled in our 2017 and 2018 campaigns.”
“They also demonstrate how much opportunity for additional precious metals content exists around the historical drilling, which was mostly not assayed for precious metals. This will provide significant upside once incorporated into our maiden mineral resource estimate at Rupice”.
Adriatic has pointed to the 4th quarter of this year or early 2019, for the generation of a maiden mineral resource estimate at Rupice that will no doubt have market watchers and geologists sitting bolt upright with anticipation.
The nearby Veovaca prospect already contains a JORC compliant resource of 4.44 million tonnes grading 2% zinc, 1.1% lead, 58g/t silver, 0.1g/t gold and 20% barite.
At Rupice, drilling is continuing at a breakneck pace to acquire the relevant drill data for the pending mineral resource estimation.
Adriatic Metals (ADT)
Closing price for the last 90 trading days
Powered by Morningstar ®