Adriatic Metals "very confident" of meeting new production target date at Vares
April 24, 2023 at 12:33 pm IST
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Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) chief executive Paul Cronin speaks to Proactive after announcing that the precious and base metals developer has identified a new zone of high-grade mineralisation underneath the Rupice Northwest deposit in Bosnia & Herzegovina.
He also discusses a small delay in the target date for commercial commencement at the Vares Project, saying that he's "very confident" of meeting a new target date in November and suggesting that the company could potentially even "bring the date in [by] a few weeks."
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Adriatic Metals PLC is a United Kingdom-based precious and base metals mining company that is advancing the Vares Silver Operation in Bosnia and Herzegovina, as well as the Raska Zinc-Silver Project in Serbia. The Company's flagship Vares Project is located approximately 50 kilometers (km) north of Sarajevo, in the district of Vares. It owns 100% of the 44 square kilometers (km2) Vares Project concession. The concession area includes the mineralization included in the Mineral Resource Estimates of Rupice and Veovaca, as well as a number of prospects and exploration targets. The polymetallic underground deposit of Rupice has high grades of silver and zinc, with lead, copper and gold credits. The Raska Zinc-Silver Project is a prospective 130 km2 land package in southern Serbia, focused primarily around two historic open pit mining operations: Sastavci and Kizevak deposits that sit on the polymetallic tethyan metallogenic belt, which contain zinc, silver and lead mineralization.