Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) said drilling has identified a new zone of high-grade mineralisation underneath the Rupice Northwest deposit in Bosnia & Herzegovina.
Assay results from what is being called the new Lower Zone demonstrate "outstanding metal grades", said managing director Paul Cronin.
Among the first assays from Lower Zone were 17.50 metres (m) at 2,041.9 grammes per tonne (g/t) of silver equivalent (AgEq), 65.65% zinc equivalent (ZnEq) from 638.0g/t Ag, 13.73% zinc, 10.28% lead, 7.05g/t gold, 3.53% copper, 6.2% barium sulfate and 1.06% antimony from hole BR-07-23.
Other drill holes extended mineralisation to 30m to 40m further to the southeast of the previously defined limit of Rupice NW, with results said to confirm the extension of high-grade massive sulphides, while other holes extended previously known mineralisation and discovered a new mineralised body of "exceptionally high grade" below the Rupice NW main mineralised body, now referred to as the Rupice NW Lower Zone. Mineralisation is narrowing south-westward on section, rolling over, increasing in grade and generally decreasing in barium content.
"We are excited to continue to drill this area and we will announce further drill results once received," Cronin said.
He added that even with this new zone of mineralisation, the combined Rupice and Rupice NW mineral resource estimate (MRE) will only include outcomes from drilling to the end of April.
"We hope this will demonstrate a significant increase to the Rupice mineralisation inventory and life of mine, but drilling will continue on Rupice and Rupice NW over the remainder of the year," he said.
He said Adriatic will accelerate exploration with the addition of a fourth diamond drill rig on site in May and an enlarged exploration team, as Rupice's high-grade mineralised system is still open at depth, to the northwest, southeast, and southwest.