Adriatic Metals "very encouraged" by latest exploration drilling assays

(via NewsDirect)

Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) chief executive Paul Cronin speaks to Thomas Warner from Proactive after releasing fresh drill results from the ongoing exploration drilling campaign at Rupice Northwest.

Cronin says that the new assays vindicate the decision to intensify exploration following a successful $30 million funding round. Drilling will continue to define the western extent of RNW for a further resource update at the end of 2023.

He also provides an update on construction progress at the site, where the plan is for plant commissioning by September's end. The company is primed for a phased production start, anticipating a notable financial impact in 2024 as they work towards full-scale production by 2025. Two rigs will continue drilling at Rupice Northwest and plans include step-out and infill diamond cored holes to achieve a nominal 40m x 30m mineralised intercept spacing.

Cronin says "we're very encouraged by this exploration program... [and] of course we'll be putting out a new mine plan in October and a reserve statement at the same time."

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