Adriatic Metals

BR-43-19 DELIVERS HIGH GRADE INTERCEPT

RNS Number : 8130V
Adriatic Metals PLC
05 December 2019
 

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

 

BR-43-19 DELIVERS HIGH GRADE INTERCEPT 60M EAST OF KNOWN MINERALISATION AT RUPICE SOUTH

 

Use the following link to view the full announcement including figures and tables.

https://www.investi.com.au/api/announcements/adt/2a330d2f-78e.pdf

 

HIGHLIGHTS

•    BR-43-19 intersected some of the best high-grade mineralisation in the southern extensions of the Rupice mineralisation returning:

•      16m @ 1.96g/t Au, 350g/t Ag, 5.3% Zn, 3.4% Pb, 0.5% Cu and 43% BaSO4 from 330m including an interval of:

10m @ 2.83g/t Au, 536g/t Ag, 7.4% Zn, 4.8% Pb, 0.5% Cu and 60% BaSO4

•    BR-43-19 is deepest intercept to date at Rupice approximately 20m east of the interpreted eastern fault and 60m east of the closest intercept in BR-27-19.

•   Two southern most drill holes, BR-41-19 and BR-43-19 confirm extensions of the high-grade mineralisation which is now continuous over 550m, and remains open along strike in the south as drill coverage extends towards the Jurasevac-Brestic prospect.

 

Adriatic Metals PLC (ASX: ADT & FSE:3FN) ('Adriatic' or the 'Company') is pleased to announce that it has received assay results from two drill holes from its programme at Rupice. Figure 1 illustrates a plan view of the drilling locations.

Paul Cronin, Adriatic's Managing Director and CEO commented, "The latest drill results in the southern extensions of the Rupice deposit clearly demonstrate that the high-grade mineralisation continues outside our current Mineral Resource and south towards our Jurasevac-Brestic prospect a further 500m to the southeast. This is our deepest high-grade intercept to date at Rupice and given its location to the east of the current mineralisation, opens the deposit to re-interpretation of the structural controls that have led to the thickest and highest grade results on the eastern down dip extent".

 

OVERVIEW

Drill hole BR-43-19 is the deepest drill hole to date in the southern extensions of the Rupice mineralisation and may represent another substantial thickening of the Rupice mineralisation as it extends to the south into untested ground returning:

•    16m @ 1.96g/t Au, 350g/t Ag, 5.3% Zn, 3.4% Pb, 0.5% Cu and 47% BaSO4 from 330m including:

10m @ 2.83g/t Au, 536g/t Ag, 7.4% Zn, 4.8% Pb, 0.5% Cu and 60% BaSO4

This drill section (Figure 2) which includes drill holes BR-27-19, BR-37-19 and BR-43-19 extends the mineralisation some 200m down-dip and outside of the current ore block model (OBM).  The mineralisation remains open down dip and to the south.

Similarly drill hole BR-39-19 is the deepest hole in the norther extensions of the Rupice mineralisation and intersected an upper lens of 58m of low-grade mineralisation (including 2 intervals of internal waste refer Table 3) and a further two lower lenses of 8m and 6m respectively.  The drilling in the northern extension is over 80m along strike and outside of the current OBM.  The mineralisation remains open to the north.  Drilling continues at both the Rupice deposit and the Jurasevac-Brestic prospect. 

The mineralised intervals of the drill holes are shown in Tables 1 to 3 with further information in Appendix 1.

 

Table 1 - Drill hole results for the reported holes; Lead or Zinc greater than 0.5%, including higher-grade intersection with Lead or Zinc > 5%

HOLE

FROM

M

TO

M

INTERVAL

M

Zn

%

Pb

%

Ag

g/t

Au

g/t

Cu

%

BaSO4

%

BR-43-19

 

Including

330

346

16

5.3

3.4

350

1.96

0.5

47

330

340

10

7.4

4.8

536

2.83

0.5

60

BR-39-19

288

326

38

0.7

0.4

14

0.09

0.2

-

380

388

8

0.7

0.8

91

0.06

0.1

-

410

416

6

1.4

1.3

87

0.08

-

-

Figure 1:  Plan Map showing the Location of the Rupice Drill Holes (follow link at the beginning of the announcement to view Figure 1)

 

Figure 2: Cross Section illustrating Drill Hole BR-43-19 (follow link at the beginning of the announcement to view Figure 2)

 

Figure 4 Cross Section illustrating Drill Holes BR-39-19 (follow link at the beginning of the announcement to view Figure 4)

 

For further information please visit  www.adriaticmetals.com,  @AdriaticMetals on Twitter, 

or contact:

 

Adriatic Metals Plc

Tel: +44 (0)20 7993 0066

Paul Cronin / Emma Chetwynd Stapylton




Blytheweigh (IR/PR Contact)

Tel: +44 (0)20 7138 3204

Camilla Horsfall / Megan Ray




Tamesis Partners LLP

Richard Greenfield

Tel: +44 (0) 203 882 2868

 

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT) ("Adriatic" or "Company") is an ASX-listed precious and base metals explorer and developer via its 100% interest in the Vareš Project in Bosnia & Herzegovina. The Project comprises a historic open cut mine at Veovača and brownfield exploration at Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals. Adriatic's short-term aim is to expand the current JORC resource at high-grade Rupice deposit, as well as conduct exploration on a number of other prospects within the expanded Concession. Adriatic has attracted a world class team to expedite its exploration efforts and to rapidly advance the Company into the development phase and utilise its first mover advantage and strategic assets in Bosnia. 

COMPETENT PERSONS REPORT

The information in this report which relates to Exploration Results is based on information compiled by Mr Robert Annett, who is a member of the Australian Institute of Geoscientists (AIG).  Mr Annett is a consultant to Adriatic Metals PLC, and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves".  Mr Annett consents to the inclusion in this report of the matters based on that information in the form and context in which it appears.

DISCLAIMER

Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)", "potential(s)"and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

 

 

 

 

 


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