Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) said the mineral reserve estimate (MRE) for its Rupice polymetallic mine in Bosnia and Herzegovina has risen by 89% to 13.8Mt with mine life now stretching beyond 2041.
Reserves include silver at 187 grammes per tonne (g/t), 5.2% zinc, 3.3% lead, 1.4g/t gold, 0.5% copper and 0.2% antimony equating to an estimated 83Moz of silver, 723Kt of zinc, 457Kt of lead, 640Koz of gold, 64Kt of copper and 24Kt of antimony.
In July, Adriatic updated the resource at Rupice to 21.1Mt indicated and inferred with exploration drilling ongoing.
Paul Cronin, chief executive, said the upgrade again demonstrates Rupice is a world-class deposit.
“Exploration drilling has continued this year, and we believe there is potential to add further resources at Rupice, as well as at our adjacent targets."
The updated ore reserve was completed to a very high standard using industry best practice and methodologies.
“It sets a solid foundation for mine planning and future production growth with mining now scheduled at Rupice Northwest.”