UK-based exploration company Adriatic Metals (ASX: ADT) has intercepted a 66m-thick zone of high-grade mineralisation during an ongoing drilling campaign at the Rupice deposit within its wholly-owned Vareš zinc-polymetallic project in Bosnia and Herzegovina.
Assays from four holes have confirmed the continuity of mineralisation up-dip and to the west at Rupice, with one hole intercepting the thick zone of high-grade mineralisation from 204m downhole depth.
The intercept was 35m down plunge from two previous holes which returned high-grade intervals of 66m from 210m, and 16m and 28m from 190m and 236m.
Assays also revealed the presence of gold and silver which were not tested for in historic holes.
Best results extending the high-grade zone to the north by 35m returned 66m at 9.5% zinc, 4.9% lead, 187 grams per tonne silver, 2.4g/t gold, 0.5% copper and 56% barium sulfate from 204m.
Other results included 8m at 0.5% zinc, 0.8% lead, 43g/t silver, 1.4g/t gold, 0.1% copper and 53% barium sulfate from 194m; and 2m at 4.3% zinc, 2.8% lead, 262g/t silver, 4g/t gold, 0.5% copper and 78% barium sulfate from 196m.
Adriatic chief executive officer Geraint Harris said the assays confirm results from previous drilling campaigns and provide an “excellent understanding” of the nature of the high-grade zone which extends beyond historical drilling to the boundaries of the company’s exploration licence.
He said the mineralisation is interpreted to be dominantly strata-bound and hosted within brecciated sediments dipping approximately 45 degrees to the northeast of Rupice.
Consistent with drill holes from Adriatic’s 2017 and 2018 campaigns, the mineralisation is visually distinct from the host rock and consists of galena, sphalerite, chalcopyrite and barite.
“These results demonstrate the opportunity for additional precious metals content and will provide significant upside once incorporated into the maiden mineral resource estimate at Rupice,” Mr Harris said.
One of the four holes assayed, while drilled vertically on the northern licence boundary, deviated significantly to the north-east and missed the northern plunge of the high-grade zone.
Given the positive results from the remaining assays, the company is now considering re-drilling this hole.
It hopes to provide a maiden resource for Rupice by early 2019.
At mid-afternoon, shares in Adriatic Metals were up 10% to $0.440.