Adriatic Metals PLC (ASX:ADT) - CEO, Paul Cronin
CEO, Paul Cronin
Source: ADT
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  • Adriatic Metals (ADT) releases silver assays for its wholly-owned Vares Silver Project in Bosnia and Herzegovina
  • The diamond drilling series at Vares included mineralisation of zinc, lead, gold, copper, barium and antimony
  • In addition to releasing diamond drilling results, ADT also announced geotechnical drilling will commence in the new year, with a further 123 holes to be explored
  • “The extensional drilling completed to date demonstrates that excellent exploration potential still remains at Rupice,” Managing Director Paul Cronin says
  • Adriatic shares were trading down 3.36 per cent at $2.59 at 12:47

Adriatic Metals (ADT) has released silver assays for its wholly-owned Vares Silver Project in Bosnia and Herzegovina.

The diamond drilling series at Vares included mineralisation of zinc, lead, gold, copper, barium and antimony.

Assays from within the extension include 7.1 metres at 662 grams per tonne (g/t) of silver, 11.3 per cent zinc, 7.6 per cent lead, 3.4g/t of gold, 0.7 per cent copper, 62 per cent barium and 0.3 per cent antimony from 350 metres.

Results from a hole 145 metres northwest of Rupice include 24.7 metres at 181 (g/t) of silver, nine per cent zinc, 4.6 per cent lead, 0.9 g/t gold, 0.3 per cent copper, 67 per cent barium and 0.1 per cent antimony from 295.1 metres.

Since the August 2021 definitive feasibility study, 123 further geotechnical drill holes have been completed, laying the groundwork for the Vares Silver Project’s comprehensive engineering design and delivery.

In the new year, geotechnical drilling efforts will be nearing completion, allowing the drill rig to be used for exploration.

“The extensional drilling completed to date demonstrates that excellent exploration
potential still remains at Rupice,” Managing Director Paul Cronin said.

“While extending the known mineralised zone by 145 metres, BR-12-21 also shows a thickening of the massive sulphide mineralisation to the north.

“We plan for drilling to continue through winter, alongside the civil earthworks underway for the Rupice Underground Mine surface infrastructure.

“In addition, the documentation for the US$142.5 million ($202.8 million) debt component to the Project Finance package provided by Orion is progressing well and we expect to execute in the coming days, with closing remaining on track for the end of February.”

Adriatic shares were trading down 3.36 per cent at $2.59 at 12:47 pm AEDT.

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