|Adriatic Metals PLC is a UK based exploration and development company, and owner of the Vareš Mining Concession in Bosnia and Herzegovina. The project was acquired in 2017, comprising two advanced stage brownfield exploration assets Veovača and Rupice.
In July 2019, Rupice was confirmed as a high-grade polymetallic deposit with significant silver and gold credits, with 80% of the Mineral Resource in the Indicated Resources category. The Mineral Resource begins at surface and currently extends to depths of 300m, remaining open with significant potential to increase the size of the Mineral Resource.
Drilling at Veovača has added gold and silver into the entirety of the Mineral Resource estimate and increased the Indicated Resource category by 71%. Resources begin at the surface and currently extend down to depths of 200m.
The project is well situated in a pro-mining jurisdiction with a well-defined permitting route to production. The Adriatic Metals concession area has been enlarged and contains advanced exploration targets. Bosnia & Herzegovina is a low cost operating environment with excellent infrastructure and logistics. The Company has installed strong management and board structure with extensive corporate history in the exploration, development, financing and mining of precious and base metal deposits around the world.
Adriatic is systematically evaluating its world class portfolio with an aggressive exploration campaign and was named the best performing IPO on the ASX in 2018.