Spectacular result extends mineralisation for Adriatic
ASX listed and Bosnia focussed base metal developer Adriatic Metals has reported another mouth-watering intersection this week, extending high grade mineralisation a further 35 metres to the north at its emerging Rupice prospect.
A new result of 66 metres grading 9.5% zinc, 4.9% lead, 187g/t silver, 2.4g/t gold, 0.5% copper and 56% barite from 204m down-hole, pushes the footprint of the defined mineralisation right to the northern edge of the existing concession boundary at Rupice.
Other new drill intercepts include 8m @ 0.5% zinc, 0.8% lead, 43g/t silver, 1.4g/t gold, 0.1% copper and 53% barite from 194m down-hole and 2m @ 4.3% zinc, 2.8% lead, 262g/t silver, 4g/t gold, 0.5% copper and an incredible 78% barite from 196m down-hole in a separate drill hole.
Company management said that drilling is continuing around the clock at Rupice, with 4 drilling rigs in operation at present.
Adriatic Chief Executive Officer Geraint Harris said: “BR-17-18 continues to confirm the continuity and down dip extension of the thick and high grade mineralisation drilled in our 2017 and 2018 campaigns. Our drilling is providing an excellent understanding of the nature of our high-grade zone as it extends well beyond the historical drilling to the north and to the very limit of our licence.”
“(the drill program) … also demonstrate(s) the opportunity for additional precious metals content, when adequately sampled within the area of 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”.
According to Adriatic, only 35% of the historic drilling at Rupice was analysed for precious metals and the high correlation between high-grade base metals and precious metals values noted from the deposit, provides a significant potential economic opportunity for the company.
In August, the company received unanimous municipal approval to expand the limits of its current Rupice exploration concession northwards and eastwards.
This could allow the company to increase its mineral resource inventory at the Rupice prospect, particularly based on the new drilling results reported adjacent to the northern tenement boundary this week.
Adriatic expects to have all the permissions required to continue exploration down plunge and along strike at Rupice North in the extended concession area, by early November.
The company has been busy preparing a program of new drilling locations in the extended concession, in anticipation of the appropriate permissions and approvals being granted shortly.
Adriatic said its much-anticipated maiden mineral resource estimate for Rupice will be declared later this quarter or early next year.
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 continues at a rapid pace to acquire all the relevant drill data for the pending mineral resource estimate.
Adriatic Metals (ADT)
Closing price for the last 90 trading days
Powered by Morningstar ®