Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) continues to intercept high grade mineralisation northwest of the Rupice mineral resource in Bosnia in ongoing drilling.
Among the recent highlights were 24.7 metres at 514 grams per tonne silver equivalent, 7.1 metres at 1,123 grams silver equivalent and 15.8 metres at 508 grams per tonne silver equivalent.
A further 123 geotechnical drill holes have now been completed since the 2021 definitive feasibility study was released.
"The extensional drilling completed to date demonstrates that excellent exploration potential still remains at Rupice,” said Paul Cronin, Adriatic's chief executive.
“While extending the known mineralised zone by 145 metres, BR-12-21 also shows a thickening of the massive sulphide mineralisation to the north. We plan for drilling to continue through winter, alongside the civil earth works underway for the Rupice underground mine surface infrastructure.”
Ongoing exploration activities are expected to extend the current 10 year mine plan at Rupice, as well as offering potential to alter the current mine plan to access the higher grade areas earlier in the mine life, he added.
“In addition, the documentation for the US$142.5 million debt component to the Project Finance package provided by Orion is progressing well and we expect to execute in the coming days, with closing remaining on track for end of February."