Recent drilling by Adriatic Metals (ASX: ADT) has revealed a southern extension to a high-grade polymetallic mineralised zone at the Rupice deposit in Bosnia and Herzegovina.
The UK-based explorer today published assay results for four holes drilled at the deposit, located within its wholly-owned Vares zinc-polymetallic project.
One drill hole, BR-25-18, intercepted a thick zone of high-grade mineralisation over 46m returning 12.7% zinc, 9.6% lead, 309 grams per tonne silver, 4.1g/t gold, 40% barium sulphate and 1% copper from a depth of 218m.
According to Adriatic chief executive officer Geraint Harris, this result demonstrated the potential for “extending the plunge mineralisation back to the south and into an area where there was no previous drilling”.
“In addition to the northern plunge, this will be a second focus area for Adriatic to expand the known areas of mineralisation at Rupice,” Mr Harris noted.
The company also said another hole, which is currently being drilled about 30m to the south-east of BR-25-18, had field observations indicating “significant thickness of mineralisation”.
Assay results from the further drilling are pending and will be reported when they are received.
Adriatic’s 100%-owned Vares project comprises the high-grade Rupice polymetallic deposit as well as the historic Veovaca open cut zinc-lead-barite-silver mine.
The company’s short-term aim is to expand the current JORC resource at Veovaca and complete an infill drilling program at Rupice.
Back in June, assay results from the first completed hole in the 2018 Rupice drilling campaign had confirmed a continuation of thick mineralisation with “some of the highest-grade polymetallic results on the ASX”.
Drilling success has continued since, with Adriatic announcing at the start of November its highest-grade intercept to date: 42m grading at 14.1% zinc, 8.4% lead, 245g/t silver, 5.7g/t gold, 1.4% copper and 34% barium sulphate from 222m.
Adriatic’s shares climbed almost 17% to $0.76 following the news. By mid-afternoon trade, the stock was sitting up 9.23% at $0.71.