Adriatic reports exploration results ahead of drilling at Vareš

By Meagan Evans. Published at May 3, 2018, in Mining

Finfeed presents this information for the use of readers in their decision to engage with this stock. Please be aware that this is a very high risk stock. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.

Results are in from Adriatic Metals PLC (ASX:ADT) extensive geophysical and geochemical exploration on the Rupice prospect in its 100% owned Vareš Project in Bosnia and Herzegovina.

The Vareš Project comprises a historic open cut zinc/lead/barite and silver mine at Veovaca and Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.

ADT’s short-term aim is to expand the current JORC Resource at Veovaca and to complete an in-fill drilling programme at the high-grade Rupice deposit. Encouragingly, the targets are adjacent to historical mining adits at Brestic-Jurasevac.

This style of exhalative mineralisation makes an excellent target for induced polarisation (IP) geophysical surveys where the presence of sulphides results in an increased “chargeability” anomaly against the host sediments.

Polymetallic lead-zinc-barite-silver-copper-gold mineralisation at the Rupice prospect within the Vareš Project is hosted in an exhalative deposit formed when ore bearing hydrothermal fluids were released into a marine environment resulting in the precipitation of stratabound metal sulphide mineralisation hosted within sedimentary rocks.

The IP survey indicates strong anomalous targets along strike and to the north and south of the 2017 drill hole locations of the Rupice using both Gradient Array and Pole-Dipole surveys.

The IP program used two different arrays; gradient array (GAIP) which allows for the rapid coverage of large areas, and pole-dipole array (PDP) which gives better depth resolution, allowing confirmation of the chargeability anomaly and defining a target for drilling.

Rupice prospect map

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

Concurrent soil sampling has outlined five clear anomalies and returned high metal values at the northern Rupice area, as well as at the southern Brestic-Jurasevac area. Several samples returned greater than 1% (>10,000ppm) lead, greater than 1% zinc and up to 0.17% copper, and at BresticJurasevac greater than 1% lead, greater than 1% zinc and up to 0.80% copper.

Rupice area soil samples

ADT’s CEO, Geraint Harris said, “the initial geophysics are well supported by the geochemistry results and align well with our drill tested understanding of the mineralisation at Rupice.

“The extent of the anomaly at Brestic-Jurasevac will be tested soon as we embark on a 15,000m drill programme designed to test the anomalies on our current project area, potentially demonstrating the mineralisation at the northern Rupice area connects to the southern Brestic-Jurasevac area, where adit sampling in the 1980s and 1990s demonstrated high grade mineralisation.

“Additionally, the anomalies to the west of our Rupice licence, further support our view that the Vareš Project sits within a mineralised corridor, and we will use this data to look for key areas to add to our existing concessions.”

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.