UK-based Adriatic Metals acquired Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia. Adriatic Metals has now expanded its exploration plans in Serbia’s zinc, lead and silver Raska project in 2021 to delineate near-surface resources amenable to low cost, open-pit mining.
The program will continue the company’s primary focus on the Kizevak and Sastavci prospects, but will also identify new areas of base and precious metal mineralisation from brownfield targets across the wider licence area, Adriatic Metals said in a filing with the Australia Stock Exchange.
Moreover, a third diamond drill rig will be deployed to the Raska Project within the next month, which will initially target the Karadak and Rudnica epithermal vein prospects, Adriatic Metals said.
Drilling will start with a 2,200-metre programme designed to test the Karadak prospect, a near-surface vein-type prospect with a historical, non-compliant mineral resource, and a 1,500-metre program is planned to follow up on the polymetallic vein intercepts at Rudnica, which is a copper-gold prospect cross-cut by later base and precious metal epithermal veins.
“Adriatic will continue to systematically explore around the Kizevak and Sastavci prospects, with the aim to generating a sizeable resource to support a significant open-pit mining operation. Based on the results to date a maiden resource and scoping study at Raska will be delivered in the 2nd half of the year, once the DFS, ESIA and the project financing workstreams at Vares have been completed and construction is underway,” Paul Cronin, Adriatic’s Managing Director and CEO, said.