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- Adriatic Metals (ASX:ADT) announces a significant increase in the ore reserves at its Rupice mine in Bosnia and Herzegovina
- Contained ore reserve tonnes have been boosted by 89 per cent on the previous ore reserve estimate from July 2021
- The increase in ore reserves now underpins an 18-year mine life, extending until 2041
- Exploration drilling continues, with a further MRE update scheduled for the first half of 2024
- Adriatic last traded at $3.41
Adriatic Metals (ASX:ADT) has announced an 89 per cent increase in the ore reserves at its Rupice mine in Bosnia and Herzegovina.
The updated ore reserve estimate for the Rupice silver-zinc-lead-gold deposit now stands at 13.8 million tonnes, containing an estimated 83 million ounces of silver, 723,000 tonnes of zinc, 457,000 tonnes of lead, 640,000 ounces of gold, 64,000 tonnes of copper, and 24,000 tonnes of antimony.
“We are extremely pleased to announce the updated ore reserves at our flagship Rupice mine have increased by 89 per cent,” ADT Managing Director and CEO Paul Cronin said
“The ore reserve figures were derived from the JORC mineral resources statement announced on July 27, 2023, reflecting a rigorous and industry-best practice methodology.”
The updated reserves not only mark a significant milestone but also support an extended 18-year mine life, now scheduled until 2041.
This extension is based on a nominal throughput capacity of 800,000 tonnes per annum.
The growth in ore reserves primarily originates from the Rupice Northwest orebody, showcasing the deposit’s potential for further growth.
Adriatic Metals will continue to invest in exploration drilling, aiming to identify additional high-grade mineralisation at Rupice and Rupice Northwest.
A further MRE update is scheduled for the first half of 2024.
ADT shares last traded at $3.41.
