Adriatic Metals announces updated Rupice MRE

Highlights

• The indicated and inferred MRE for Adriatic Metals’ 100%-owned Rupice sil-ver-zinc-lead-gold deposit in Bosnia and Herzegovina now stands at 21.1 million t at 156 g/t silver (Ag), 1.2 g/t gold (Au), 4.3% zinc (Zn), 2.8% lead (Pb), 0.4% copper (Cu), 27% barium sulfate (BaSO₄) (reported above a cut-off grade of 50 g/t AgEq) containing 105 million oz Ag, 789 000 oz Au, 913 000 t Zn, 581 000 t Pb, 88 000 t Cu and 39 000 t Sb.
• This includes a 93% increase in indicated tonnes compared to the 2020 Rupice MRE (using a 50 g/t AgEq cut-off).
• 87% of the updated mineral resource is classified as indicated.
• The updated Rupice MRE includes the first public resource disclosure for the new Rupice Northwest (RNW) discovery.
• The estimates do not include new drilling completed since the end of May 2023.
• Exploration drilling continues successfully identifying further high-grade mineralisation at Rupice and RNW that is additional to the currently reported Rupice MRE inventory.
• The updated Rupice MRE will be the basis for an update to the Rupice ore re-serve estimate. The ore reserve will include new metallurgical test work, mining studies and inclusion of the new RNW deposit in the life-of-mine plan.

Paul Cronin, Adriatic’s Managing Director and CEO, commented: “Rupice is an exceptionally high-grade, silver rich, polymetallic deposit and the recent exploration programme has materially increased the resources. The updated MRE reaffirms the world-class nature of the deposit, and the increase in tonnes and contained metal since the 2020 resource demonstrates the potential for significant growth in both re-serves and life of mine, offering substantial development optionality to increase near term metal production.

“Excitingly, Rupice and RNW remain open, and we will continue with an aggressive exploration programme throughout 2023 that is expected to add significant further resources and position Adriatic as one of the leading base and precious metals developers in Europe. This exploration programme will run concurrently with the construction of the Vares Project that is targeting first production of concentrate in November.”

Read the article online at: https://www.globalminingreview.com/mining/27072023/adriatic-metals-announces-updated-rupice-mre/