Adriatic Metals PLC has issued an update on its exploration efforts at its flagship Vares Silver Project in Bosnia and Herzegovina.
The company said it identified a new elevated base and precious metals zone below the footwall of the Rupice Northwest (NW) deposit, which is now referred to as the Rupice NW Lower Zone.
Follow-up drilling in the lower zone confirmed the continuity of mineralisation and similar massive sulphide content.
According to Adriatic, gap mineralisation within Rupice is expected to thicken and maintain high grades as drilling progresses to the southwest based on previous drill section trends.
It added that new results had shown the continued extension of mineralisation up-dip and down-plunge from previously reported drill holes.
The shape of the deposit is now well defined as the stratigraphic controls constraining the stratabound mineralisation.
The company’s exploration strategy has been adjusted to deepen holes and continue to define the high-grade lower zone of mineralisation below the current strike extent of Rupice NW.
The strategy’s primary focus will be on the site’s southeast, where it will test for the new Rupice NW lower zone in the footwall of the Rupice NW deposit.
Two diamond drill rigs will be dedicated to the extension and infill drilling.
In July, the drilling and assay results will be included in a combined Rupice and Rupice NW Mineral Resource Estimate (MRE).
Commenting on the updates, Adriatic Managing Director and CEO Paul Cronin said the company hopes that the combined Rupice and Rupice NW MRE will indicate a significant increase in the mineralisation inventory and life of the mine.
“With an additional drill rig on site in May and an enlarged exploration team, we will be accelerating the 2023 exploration programme as the Rupice high-grade mineralised system is still open at depth, to the northwest, southeast and southwest,” he added.
