SARAJEVO (Bosnia and Herzegovina), July 24 (SeeNews) – UK-based Adriatic Metals said it has completed a maiden mineral resource estimate for the Rupice polymetallic deposit and an updated mineral resource estimate for the Veovaca deposit, both located in Bosnia.
For Rupice, the estimate has confirmed that it is Bosnia’s highest-grade polymetallic deposit with significant silver and gold credits, with 80% of the mineral resource in the indicated resource category, Adriatic Metals said in a statement on Tuesday.
The mineral resource begins at surface and currently extends to depths of 300 metres, while the mineralisation remains open with significant potential to increase the size of the resource, it added.
Adriatic Metals also said that five rigs remain on-site at Rupice with drilling continuing to extend the known mineralisation. Drilling is also planned in new areas to search for possible repetitions of the mineralisation.
For the Veovaca mineral resource, which begins at surface and currently extends to depths of 200 metres, drilling has added gold and silver into the entirety of the estimate, increasing the resource category to 71%.
"Our work since acquiring the project in early 2017 has confirmed that significant resources of precious metals exist within the confirmed base metals resources," Adriatic Metals' executive director, Paul Cronin, said in the statement.
"The Rupice deposit is world class and our exploration program will be seeking to expand the known mineralisation. Our most recent drill holes suggest that highgrade mineralisation continues to the north and our IP survey has indicated, in conjunction with soil geochemistry that further drilling is required on a number of prospects within our existing and expanded concession area. Regardless, we now have a substantial resource inventory for use in initial scoping studies.”
Adriatic Metals is an ASX-listed zinc polymetallic explorer and developer via its 100% interest in the Vares project in central Bosnia. The project comprises a historic open cut zinc/lead/barite and silver mine at Veovaca, and Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.