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Adriatic Metals (ASX:ADT) - Managing Director & CEO, Paul Cronin - The Market Herald
Managing Director & CEO, Paul Cronin
Source: 121 Mining Investments Events
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  • Adriatic Metals (ADT) has intersected more shallow high-grade mineralisation from two of its deposits at the Raska Project in Serbia
  • Intersepts at the Kizevak deposit expand and confirm previously known mineralised zones and show continued mineralisation
  • At Sastavci, results confirmed more thick mineralised zones at the base of the historical open pit, as well as the presence of several sub-parallel vein zones outside of the pit limits
  • The company plans to expand the Raska Project by widening the project area and assessing brownfield targets
  • A third drill rig is expected next month to assist with the expansion effort
  • Shares are 7.3 per cent lower, trading at $2.04 cents each at 4:10pm AEDT.

Adriatic Metals (ADT) has intersected more shallow high-grade mineralisation from two of its deposits at the Raska Project in Serbia.

Kizevak

One drillhole at Kizevak, which is located southeast of the historic open pit, identified near-surface, high grade mineralisation located up-dip from a thick, deeper lens.

KZDD-051 intersected 15 metres at 2.5 per cent zinc, 1.7 per cent lead, 26 grams per tonne (g/t) silver and 0.3g/t gold from seven metres. This included 6.1 metres at 4.6 per cent zinc, 3.4 per cent lead, 41 g/t silver and 0.5 g/t gold from 9.9 metres.

Another drill hole has extended mineralisation down dip and southeast from
historically defined limits of mineralisation, which remains open.

The hole, KZDD-042, intersected 10.2 metres at 2.1 per cent zinc, one per cent lead, 12 g/t silver and 0.4 g/t gold from 70.8 metres, including 4.3 metres at 3.3 per cent zinc, 1.6 per cent lead, 22 g/t silver and 0.6 g/t gold from 71.7 metres.

The company says the results expand and confirm previously known mineralised zones and show continued mineralisation.

It plans to continue drilling at Kizevak to focus on exploration along strike and of down dip extensions.

Sastavci

The drill results from the Sastavci deposit show numerous surface level sub-parallel polymetallic veins.

Intercepts found two thick zones of mineralisation that are subparallel to the historically mined vein zone and are open to the northwest.

Drillhole SSDD-007 intercepted a broad, well mineralised zone from surface which the company says continues to indicate much thicker zones of mineralisation than historically interpreted.

Significant results included 36.0 metres at 3.7 per cent zinc, 1.4 per cent lead, 21 g/t silver and 0.2 g/t gold from surface, including 8.4 metres at 8.1 per cent zinc, 1.9 per cent lead, 30 g/t silver and 0.3 g/t gold from 4.6 metres. As well as an intercept of eight metres at 6.3 per cent zinc, 3.1 per cent lead, 49 g/t silver and 0.2g/t gold from 21.3 metres.

ADT has planned a further 4000 metres of drilling at the deposit to step out along strike of the two main zones of mineralisation identified to date, as well as explore nearby sub-parallel structures identified from mapping, soil geochemistry and 3D magnetic data interpretation.

Expanding Raska

Plans are in place to expand exploration at the Raska project.

Along with further drilling at Kizevak and Sastavci, the company plans to start a new program to identify new areas of mineralisation from brownfield targets in the wider licence area.

Next month, a third diamond drill rig is expected at the project to assist with the brownfields work.

Commenting on the findings, Managing Director and CEO, Paul Cronin said the exploration work completed to date has demonstrated that there remains an incredible amount of potential across, not only these two prospects, but the wider project area.

Adriatic Metals aims to generate a sizeable resource to support a significant open-pit mining operation at the project.

Consequently, the company plans to use the results to deliver a maiden resource and scoping study at Raska in the second half of this year.

The studies are expected once the definitive feasibility study, environmental and societal impact assessment, and the project financing workstreams at its Vares Silver Project have been completed and construction is underway.

Shares are 7.3 per cent lower, trading at $2.04 cents each at 4:10pm AEDT.

ADT by the numbers
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