Adriatic Metals PLC said the resource estimate for its Rupice silver-zinc-lead-gold deposit in Bosnia and Herzegovina has increased by 93%.
Indicated and inferred mineral resources reflect the inclusion for the first time of the new Rupice Northwest (RNW) discovery and are now estimated at 105mln oz silver, 789,000 oz gold, 913,000 oz zinc, 581,000t lead, 88,000t copper and 39,000t tin.
Some 87% of the deposit’s resource is now also in the indicated category, Adriatic Metals added, with the new mineral resource estimate (MRE) to be the basis for an update to the Rupice ore reserve estimate.
This estimate will include new metallurgical test work, mining studies plus the RNW deposit in the life-of-mine plan.
Paul Cronin, managing director, added: “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 reserves 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.
“This exploration programme will run concurrently with the construction of the Vares Project that is targeting first production of concentrate in November.”
Source: proactive
