Adriatic Metals has significantly raised its mineral resource estimate for its high-grade Rupice deposit, part of the Vares project in Bosnia.
The 100-owned polymetallic deposit contains silver, gold, zinc, and lead, and the new estimate represents a remarkable increase now standing at 21.1 million tonnes with 105 million ounces of silver, 789,000 ounces of gold, and 913,000 tonnes of zinc.
The whopping increase, which also includes resources for the new Rupice Northwest discovery, amounts to 93% more indicated tonnes of resource compared to the previous estimate.
Rupice is an exceptionally high-grade, silver rich, polymetallic deposit and the recent exploration programme has materially increased the resources,” Managing Director and CEO Paul Cronin said.”
The updated MRE reaffirms the world-class nature of the deposit, and the increase in tonnes and contained metal since the 2020 Resource demonstrates the potential for significant growth in both reserves and Life of Mine, offering substantial development optionality to increase near-term metal production.”
Excitingly Rupice and RNW remain open, with the Company planning an aggressive exploration programme throughout 2023.
The programme will run concurrently with the construction of the Vares Project, which targets the first production of concentrate in November.
