Maiden Mineral Resource Estimate
Maiden Mineral Resource estimate confirms Rupice as Bosnia’s highest-grade polymetallic deposit with significant silver and gold credits, with 80% of the Mineral Resource in the Indicated Resource category.
The Vares Project
Rupice
In 2017, the Company completed an 8 hole, 1,458 metre diamond drilling program at the Rupice Project, to confirm the historical results and the predominance of precious metals with the base metals.
Now in 2020, Adriatic has completed over 35,000m of exploration drilling, with 129 holes, expanding the known area of mineralisation, and defining some of the highest grade poly-metallic intercepts globally.
- Updated JORC 2012 Resource of 12.0Mt - 79% of the Mineral Resource in the Indicated Resources category
- 32% increase in tonnes from July 2019 Maiden JORC Resource
- Mineralisation remains open towards the north and down-dip to the south
- Defined strike length of 650m, with average true width thickness of c.20m.
- The Exploitation permit was issued in Q1 2021
Veovaca
On taking over the project in 2017, historically over 8,000 metres had been drilled in 51 holes. Since then Adriatic have drilled a further 33 holes covering nearly 4,000 metres.
- Updated JORC 2012 Mineral Resource of 7.4Mt
- Indicated Resource increased by 71%
- Included within Vares Project Scoping Study as an increment to the Rupice underground operation
- Previously produced zinc, lead & barite concentrate between 1983 and 1987
- Drilling at Veovaca has added gold and silver into the entirety of the Mineral Resource estimate
- Mineralisation at surface and currently extend down to depths of 200m. Thick mineralisation exposed in pit floor.
- Growth potential to SW and N at West Veovaca and Orti, Seliste & Mekuse.
Updated Mineral Resource
Drilling at Veovaca has added gold and silver into the entirety of the Mineral Resource estimate and increased the Indicated Resource category by 71%.
High Grade Mineralisation continues North at Rupice
Drilling to the north in the extended Rupice Licence area continues to intersect mineralisation which remains open down-plunge to the north.
Veovaca – Maiden Mineral Resource Estimate
The Mineral Resource estimate for the Veovaca deposit.
Exploration
The Rupice prospect is located 12 km to the northwest of Veovaca on the western slope of Kiprovac Ridge. Other known prospects include Jurasevac-Brestic and prospects in the Borovica corridor (Kraljeva Jama, Siroki Radakovac, Ceo Sutjeska and Zakruzje).
Significant Intercepts to Date
Rupice is delivering exceptional grade and thickness.