Adriatic reports exploration results ahead of drilling at Vare??
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Results are in from Adriatic Metals PLC (ASX:ADT)extensive geophysical and geochemical exploration on the Rupice prospect in its100% owned Vares?OE Project in Bosnia and Herzegovina.
The Vares?OE Project comprises a historic open cutzinc/lead/barite and silver mine at Veovaca and Rupice, an advanced proximaldeposit which exhibits exceptionally high grades of base and precious metals.
ADT's short-term aim is to expand the current JORC Resourceat Veovaca and to complete an in-fill drilling programme at the high-gradeRupice deposit. Encouragingly, the targets are adjacent to historical miningadits at Brestic-Jurasevac.
This style of exhalative mineralisation makes anexcellent target for induced polarisation (IP) geophysical surveys where thepresence of sulphides results in an increased "chargeability" anomaly againstthe host sediments.
Polymetallic lead-zinc-barite-silver-copper-goldmineralisation at the Rupice prospect within the Vares?OE Project is hosted in anexhalative deposit formed when ore bearing hydrothermal fluids were releasedinto a marine environment resulting in the precipitation of stratabound metalsulphide mineralisation hosted within sedimentary rocks.
Get the latest articles straight to your inboxkeep me postedThe IP survey indicates strong anomalous targets alongstrike and to the north and south of the 2017 drill hole locations of theRupice using both Gradient Array and Pole-Dipole surveys.
The IP program used two different arrays; gradient array(GAIP) which allows for the rapid coverage of large areas, and pole-dipolearray (PDP) which gives better depth resolution, allowing confirmation of thechargeability anomaly and defining a target for drilling.
Overall this is an early stageplay and as such any investment decision should be made with caution andprofessional financial advice should be sought.
Concurrent soil sampling has outlined five clearanomalies and returned high metal values at the northern Rupice area, as wellas at the southern Brestic-Jurasevac area. Several samples returned greaterthan 1% (>10,000ppm) lead, greater than 1% zinc and up to 0.17% copper, andat BresticJurasevac greater than 1% lead, greater than 1% zinc and up to 0.80%copper.
ADT's CEO, Geraint Harris said, "the initial geophysicsare well supported by the geochemistry results and align well with our drilltested understanding of the mineralisation at Rupice.
"The extent of the anomaly at Brestic-Jurasevac will betested soon as we embark on a 15,000m drill programme designed to test theanomalies on our current project area, potentially demonstrating themineralisation at the northern Rupice area connects to the southernBrestic-Jurasevac area, where adit sampling in the 1980s and 1990s demonstratedhigh grade mineralisation.
"Additionally, the anomalies to the west of our Rupicelicence, further support our view that the Vares?OE Project sits within amineralised corridor, and we will use this data to look for key areas to add toour existing concessions."
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