ASX listed and Bosnia focussed base metals developer Adriatic Metals has started 2019 with a bang, delivering its thickest, highest grade drill intercept to date from its exciting Rupice prospect.
The stunning new result of 72 metres grading 18.3% zinc, 10.7% lead, 2.5g/t gold, 211g/t silver, 2.5% copper and 25% barite started at 206m down-hole and incorporated a very high grade section of 56m @ 23.2% zinc, 13.6% lead, 3g/t gold, 254g/t silver and 3.1% copper from 218m.
Importantly, this drill hole interval appears to show the merging of two separate high-grade zones located about 30m up-dip on this drill section, with the mineralised shoot plunging to the north, opening up more potential at Rupice.
Several other high-grade intersections were reported this week by Adriatic, including 46m @ 12.7% zinc, 9.6% lead, 4.1g/t gold, 309g/t silver, 1% copper and 40% barite from 218m down-hole.
Another result from a previously untested area at depth turned up 20m @ 8.2% zinc, 5.6% lead, 4.1g/t gold, 479g/t silver, 0.5% copper and 60% barite from 228m down-hole.
It’s easy to run out of superlatives with the drill results the company has produced at its high grade multi-commodity Vareš project in Bosnia since May last year and all of this will culminate in a maiden resource estimate for Rupice in the first half of 2019.
The nearby Veovaca prospect holds a JORC-compliant mineral resource of 4.44 million tonnes grading 1.96% zinc, 1.11% lead, 58g/t silver, 0.1g/t gold and 20% barite.
Adriatic Chief Executive Officer Geraint Harris said: “These drill hole results released today continue to demonstrate not only the exceptional grade, continuity and thickness of the mineralisation at Rupice, but also substantially improve our geologic understanding of this unique region.”
“Our focus in early 2019 will be to extend the high-grade zones to the north and south-east and also to improve our understanding of the system between Rupice North and Jurasevac-Brestic. At Rupice we will declare a maiden resource estimate in the first half of this year.”
“Also, metallurgical, geo-technical and hydro-geological studies are underway, which will feed into a scoping study, the Exploitation Permit application and ultimately a feasibility study.”
The company’s Vareš project comprises a historic open cut zinc-lead-barite and silver mine at Veovaca and the flagship Rupice prospect, which has continually exhibited exceptionally high grades of base and precious metals.
Adding excitement for Adriatic is the fact that historical operators did not assay for gold and silver in Bosnia. This could be a boon for the company as the precious metal grades at Rupice appear to be more than mere “credits” to the base metal and valuable barite mineralisation.
Safe to say then, that the company’s initial mineral resource estimate for Rupice could be one of the most anticipated of 2019.
By Matt Birney
