Adriatic Metals Identifies Massive Sulphide Mineralisation for Vares Project
Precious and base metals developer, Adriatic Metals PLC [ASX:ADT] is known for its advancement on world-class Vares Silver Project in Bosnia and Herzegovina, and the Raska Zinc-Silver Project in Serbia.
Today, it provided an update on the latest in exploration drilling at the Vares project, with its Rupice Northwest region continuing to present with solid, high-grade mineralisation of ‘massive sulphide’ found in nine new exploration drill holes.
This is in addition to the 12 reported on in 2022, with the remaining planned seven holes yet to be reported on.
Adriatic’s share price rose 28% in the year 2022 and is up 3% so far in the new year.
Source: TradingView
Adriatic shares newest drilling highlights for Rupice
Today, Adriatic has revealed that it has completed its sulphide 3D modelling of Rupice and Rupice Northwest, relogging its assays from samples taken previously from the core of the Rupice region in 2022.
Further opportunities have surfaced, suggesting that there may be options to expand the existing up-dip and down-dip areas, as well as moving to the southeast area of the site.
With this in mind, there will be an overhaul of extensive drill tests in newly identified areas, kickstarting the expansion program for 2023.
Yet the main focus for Adriatic’s update was on the exploration drilling it recently completing at Rupice Northwest, which it says ‘continues to intercept thick, high-grade massive sulphide mineralisation up-dip, down-dip and down-plunge from previously reported intersections’.
It gets better, as the miner reported its drilling campaign in the Northwest region has revealed new bodies of ‘significant’ mineralisation nearby to existing mineral resources already identified.
Adriatic continues its 2022 drilling campaign by bringing its pre-identified goals into 2023 and hopes to create full definition of its newly discovered mineralisation by connecting the Rupice Northwest and the main Rupice resource sites.
The resource miner has now assayed nine exploration drill holes, which add to the 12 already assayed and presented in 2022, and which leaves another seven of the total 28 holes flagged in 2022.
Adriatic says that its geologists continue to experience a high success rate in predicting mineralisation occurrence within five metres of their interpretation zones.
Adriatic’s Managing Director and CEO Paul Cronin commented:
‘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 sheer size of Rupice NW has meant that further drilling will be required to define the mineralized 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.’
Source: ADT
Incoming! A commodity boom approaches
Speaking of drilling, assays and accelerating plans for 2023, our resources expert and on-the-ground experienced geologist, James Cooper, thinks the Australian resources sector is set to enter a new commodities boom brought on by the ‘Age of Scarcity’.
James is convinced ‘the gears are in motion for another multi-year boom in commodities’.
A boom where Australia (and ASX stocks) stands to benefit…
The next big mining boom is predicted to happen in the next few years.
You can access a recent report by James on exactly that topic, AND access an exclusive video on his personalised ‘attack plan’ right here.
If that isn’t enough to sate your curiosity, check out the recent interview with James and Greg for Ausbiz at the end of last year.
Regards,
Mahlia Stewart,
For The Daily Reckoning Australia
