Construction at Adriatic Metals’ Vares high-grade silver project in Bosnia and Herzegovina is picking up speed

Construction at Adriatic Metals’ Vares high-grade silver project in Bosnia and Herzegovina is picking up speed as the company prepares to bring the project’s namesake underground mine and processing facility online next year. Adriatic says the project is now at the mid-way point and importantly remains on schedule and budget to deliver the first concentrate around September 2023.

The company says the past six months have been a whirlwind of activity with construction around the site’s surface infrastructure gathering pace.

Management states earthworks associated with the project’s Rupice mine are progressing as planned and are at around 56 per cent complete. The backfill pad is about 85 per cent finalised and 45 per cent of the work needed on the stockpile pad excavation has been done. Additionally, all geotechnical drilling for the backfill pad has been wrapped up.

In addition, the lower and upper decline of the underground mine is currently sitting at depths of 277m and 177m respectively for a total distance of 454m as of November 21.

A pair of diesel generators have been installed to give the operation a source of power. The devices will supply interim power to the Rupice mine ahead of the fitting of an underground cable grid link.

The operation’s 24.5km haul road is also said to be on track for first ore delivery early next year.

Along with the company’s construction efforts, it is also closing the loop on a year-long confirmation and definition drilling program at Rupice.

Recent exploratory programs have focussed on the Rupice’s northwest extension and intercepted a package of massive and semi-massive sulphide mineralisation that Adriatic believes could bolster the mine’s projected 10-year shelf life. The recent efforts confirmed an extension of mineralisation up to 250m north-west of the resource.

Notable intercepts from recent work include 0.9m at 846 grams per tonne silver equivalent and 27.2 per cent zinc equivalent from 207m including a 6.5m interval going 1861 g/t silver equivalent and 59.8 per cent zinc equivalent.

Another 32.5m hit was returned about 155m north-west of Rupice going 657 g/t silver equivalent and 21.1 per cent zinc equivalent from 285.5m. The wide strike also enclosed a richer 2m hit at 1331 g/t silver equivalent and 42.8 per cent zinc equivalent.

Adriatic began building the infrastructure for its Rupice mine in November last year after securing a financial facility a month prior.

The work follows a study by mining consultancy group CSA Global which suggested the project could hold a 12 million tonne resource grading 149 grams per tonne silver, 1.4 g/t gold, 4.1 per cent zinc, 2.6 per cent lead, 0.5 per cent copper and 25 per cent barite.

A subsequent definitive feasibility study released late last year says the operation could deliver an average EBITDA of US$281.1 million a year in its first five years of concentrate production, The West Australian reports.

Adriatic Metals builds underground mining fleet at Vares silver project

As Adriatic Metals gears up for first concentrate production at its Vares silver project in Bosnia & Herzegovina, it has revealed details of the mining fleet set to carry out work at the underground Rupice mine.

In its latest update, the company said project construction was 45% complete, with decline development progressing well – the lower decline currently being at at 210 m and upper decline at 100 m.

The majority of long-lead items and equipment orders were expected to come in on schedule, however global supply chain disruption has pushed first concentrate production from the end of the June quarter of 2023 into the September quarter, it said.

In the company’s 2021 definitive feasibility study, it shifted focus from a combined open pit and underground operation to an underground-only operation focused on Rupice, highlighting plans to mine 730,000 t/y of ore over a 10-year mine life.

In Adriatic’s most recent update, it highlighted that the fleet of vehicles required for Phase One (decline development) was on site, with delivery of Phase Two and Three vehicles commencing.

Among the fleet on site at Rupice is a Sandvik LH514i LHD, two Sandvik LH517i LHDs, a Cat 950L wheel loader, a Sandvik TH545i truck (second unit arriving in December), an Epiroc Boomer 282 jumbo drill, two Sandvik DD320 jumbos, two Sandvik DS311 rock bolters, two Titan IS26 shotcrete sprayers, three Titan BYM 6.0 underground mixer trucks and a Titan EC2 explosive charger.

Adriatic said the final project cost estimate had increased marginally from $170 million to $173 million, due to increases in engineering costs, plant and electrical equipment, including adjustments based on recent contract awards.

Anglo Asian Mining PLC has reported higher copper and silver production in the third quarter

The Azerbaijan-focused company remains on track to bring the new Zafar mine into production in 2023

Anglo Asian Mining PLC has reported higher copper and silver production in the third quarter and maintained its overall annual production guidance of 54,000 to 58,000 gold equivalent ounces (GEOs).

The AIM-listed gold, copper and silver producer also said the Zafar mine design has advanced well and that it remains on track to bring the new mine into production in 2023. Geotechnical drilling has been completed and the drill core is in the process of being tested, it said.

Anglo Asian produced 14,309 GEOs in the third quarter, compared with 16,316 GEOs in the year-earlier period, as lower gold production outweighed the increase in copper and silver output.

The Azerbaijan-focused company saw an improvement in its gold bullion sales compared with the year-earlier quarter. It sold 10,000 ounces of gold bullion at an average US$1,727 per ounce versus 6,828 ounces sold at an average US$1,815 an ounce in the third quarter of 2021.

Anglo Asian had cash of US$15.3mln as of 30 September 2022.

During the quarter, the company’s revised production-sharing agreement became law in Azerbaijan, granting the group three new contract areas, Pro Active Investors.

Environmental campaigners resist mining for base metals

Campaigners say the area is home to rich biodiversity and natural landscape, and is not appropriate for the type of mining that any prospecting may unveil

Environmental campaigners have said they will vigorously resist any attempts to begin mining in east Clare, after the Department of the Environment approved a licence for a company to explore the possibility.

The department said that Environment Minister Eamon Ryan intended to grant a prospecting licence to Navan, Co Meath-based Minco Ireland for base metals, barytes, as well as gold and silver ore around Tulla in Clare.

The prospecting licence allows for the exploration of mineral deposits, but does not authorise actual mining of any minerals.

The notice from the department said that environmental impacts in terms of a prospecting licence were, “in general”, non-invasive.

“The minister has assessed the exploration programme proposed by the company, and has determined that the activities are not likely to have a significant effect on the environment,” the notice stated.

There are two underground mines operating in Ireland. Tara in Co Meath produces zinc concentrate, while Drummond in Co Monaghan produces gypsum.

Mines at Galmoy in Co Kilkenny and Lisheen in Co Tipperary, which both produced zinc and lead, were closed in the past decade.

Environmental group Futureproof Clare reacted angrily to the announcement of the prospecting licence for Co Clare by the department, saying it was done by stealth and with no consultation locally.

Campaigners say the area is home to rich biodiversity and natural landscape, and is not appropriate for the type of mining that any prospecting may unveil.

A petition from the group demanding the licence be refused has garnered 1,500 signatures.

It claimed that in Europe, mining is increasingly affecting Natura 2000 and wetlands of international importance, known as Ramsar sites, set aside for conserving nature.

The petition stated: “81% of habitats, and 63% of the species that these laws were designed to protect, still have an ‘unfavourable’ conservation status, according to the European Environment Agency.

“Goldmining is one of the most destructive industries in the world. It can displace communities, contaminate drinking water, destroy the landscape, has a negative impact on small-scale farming and fishing, and eco-tourism, while also being a threat to existing employment in the area.”

According to the department’s own policy information, “there is significant potential across Ireland for industrial minerals”.

In recent years, gypsum, dolomite, silica sand, brick shale, and fireclay have all been mined, it stated.

“The development of Irish mineral deposits is an important component of the economy, providing essential minerals for industry, while generating employment and revenue for the State,” the policy states.

“By promoting mineral exploration, the Government enables the discovery and development of economic deposits. In doing this, it aims to maximise the mining sector’s contribution to the economy, while protecting against social and environmental impacts.”

Minco said in its interim six-month report ending June 2021 that the medium- to long-term demand for metals is increasing.

“The principal reason for the positive outlook is the growing recognition that metals and minerals are essential for addressing climate change and adapting to a green economy,” the report stated.

Source: irishexaminer.com

Canadian Medgold continues to explore gold and silver near Bosilegrad in the spring

The Canadian company Medgold Resources, which discovered a rich gold and silver deposit near Bosilegrad, will continue research in the spring.

As Aleksandar Vulović from this company, which discovered the Barje site near Bosilegrad in 2018, told eKapija, there is an economic justification for the research to continue.

– We actively explored the site in 2018 and 2019, while last year we slowed down due to the corona, but next year we will continue with earlier intensity in the spring. Now we have a potential partner, the company Metaltech from Australia, which should elaborate the project in more detail – says Vulović.

When asked when we could expect the project to be concretized, Vulović said that it was too early to talk about it, because it would take several more years to do more detailed research and accompanying technical studies that would enable the possible exploitation of the ore.

– For now, we only have the right of investigation, we still do not have the right of exploitation. For now, we are in the middle of the project, the next steps are the continuation of research, and then the development of spatial planning documentation, which leads to obtaining the right of exploitation – explains the interlocutor of our portal.

He adds that in two years, the company will have a clearer picture of what the deposit is and more detailed information about the ore body, on the basis of which the design, excavation methodology and mining facilities are then done.

Vulovic also points out that the company has a desire to start research at some other locations in Serbia, and that it should be seen which locations are still free, but he notes that Barje is currently Medgold’s priority in Serbia.

On the website of Medgold istraživanja doo Belgrade, which is a Serbian subsidiary of the Canadian company, it was pointed out that Medgold currently has five approved exploration rights, each of which covers approximately 100 square kilometers and which includes a potentially rich belt of mineralization of silver and gold. and southern parts of Serbia.

Near the Municipality of Bosilegrad, Medgold has three exploration rights covering a total of about 250 square kilometers, two of which are part of the Tlamino project, which includes the Barje location.

As the media reported last summer, Medgold found close to 19.3 tons of gold, worth more than a billion dollars, within the Tlamino project.

Source: ekapija.com