Exploration drilling at Rupice Northwest continues to intercept thick, high-grade massive sulphide mineralisation up-dip, down-dip and down-plunge from previously reported intersections. The current drilling campaign at Rupice Northwest ('Rupice NW') has achieved the objective of identifying a new body of significant mineralization to the northwest of the existing Rupice Mineral Resource ('RMR').
The drilling continues from 2022 into 2023 with the aim of fully defining the mineralisation and attempting to connect the Rupice NW mineralisation to the main body of Rupice mineralisation. The drilling will continue to a stage where an updated RMR can be released. The intercepts announced are assay results from nine exploration drill holes, all of which are targeting Rupice NW, additional to the twelve already reported from 2022.
Seven holes remain to be reported on, out of a total of twenty-eight completed holes in 2022. Completion of Rupice and Rupice NW massive sulphide 3D modelling, coupled with relogging and assays from previously unsampled Rupice core has identified opportunities to expand the existing RMR up-dip, down-dip and to the southeast of the existing RMR. Extensive drill testing is planned across newly identified areas to further expand the RMR in 2023. Presented assay results are in addition to results previously announced for Rupice NW on 26 October 2022.
2022 Exploration Works
As previously announced on 26 October 2022, step-out exploration drilling intersected high-grade mineralisation in drill holes BR-04-22, BR-05-22, BR-06-22, BR-07-22, BR-08-22, BR-09-22, BR-10-22, BR-12-22 and BR-13-22, located 90 to 250m northwest of the existing RMR. The Company has continued exploration activities to define the Rupice NW extension on a drilling pattern of 40m spaced lines with holes drilled in fans to achieve a 25m to 30m separation between mineralisation intersections on the drill lines (sections). The continuity of mineralisation is consistent with geologists having a high success rate of being able to predict mineralisation occurrence within 5m of interpreted target. The new results have shown continuity of mineralisation up-dip and down-plunge from previous reported drill holes BR-08-22, BR-09-22, BR-10-22, BR-12-22 and BR-13-22. Hole BR-21-22 extended the previously known mineralisation 152m up-dip, while hole BR-22-22 confirmed continuity within the upper zone of mineralisation. Holes BR-18-22 and BR-23-22 extended the previous known mineralization 70m down-dip verifying the extension of the existing massive sulphide orebody. Drill holes BR-25-22, BR-26-22, BR-27-22, BR-29-22, BR-30-22 and BR-32-22 have also been completed and are awaiting assay results. Each of these holes intersected significant zones of massive sulphide mineralisation. Drilling of Rupice NW will continue during winter with the objective of generating a maiden Inferred resource estimate for Rupice NW in Q1 2023.
Paul Cronin, Adriatic's Managing Director and CEO, commented:
'I am delighted at the drilling success at Rupice NW, which demonstrates that the mineralised system continues to expand and remains open along strike, up and down-dip. The ongoing success of the Rupice NW drilling campaign affirms Adriatic's growth strategy to achieve at least a 20-year mine life at Rupice.
'The sheer size of Rupice NW has meant that further drilling will be required to define the mineralised system. Drilling will therefore continue into 2023, to attempt to close-out mineralisation and connect Rupice NW to Rupice. A maiden resource for Rupice NW will be released once existing areas of defined mineralisation are closed-off and the scale of the mineralised system within Adriatic's tenement holdings has been fully realised.'
Contact:
Adriatic Metals PLC
Paul Cronin
Klara Kaczmarek Via Buchanan
Buchanan
Tel: +44 (0) 20 7466 5000
Bobby Morse
Oonagh Reidy
E: adriatic@buchanan.uk.com
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Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF)
('Adriatic' or the 'Company') is pleased to report on recent exploration results at the Company's flagship Vares Silver Project in Bosnia & Herzegovina. As previously announced on the 26 October 2022, exploration drilling intersected high-grade mineralisation in drill holes BR-04-22, BR-05-22, BR-06-22, BR-07-22, BR-08-22, BR-09-22, BR-10-22, BR-12-22 and BR-13-22 located 90m to 250m northwest of the existing RMR. Subsequently, the Company has focused exploration activities on testing this potential northwest extension ('Rupice NW') with continued success. Results from new drill holes BR-11-22, BR-14-22, BR-15-22, BR-16-22, BR-18-22, BR-20-22, BR-21-22, BR-22-22, and BR-23-22 are detailed below. Drill holes BR-11-22, BR-14-22, BR-16-22 and BR-21-22 extended the previously known mineralisation 152m updip of drill hole BR-08-22, while hole BR-22-22 confirmed continuity within the Upper Zone of mineralisation. Successful drilling outcomes in 2022 together with extensive relogging, new sampling, interpretation and modelling has provided a road-map to targeting mineralisation extensions at Rupice and Rupice NW in 2023. Drilling will continue in 2023 to extend Rupice and Rupice NW mineralisation up- and down-dip, along-strike and within areas of drilling gaps identified by 3D modelling of sulphides. The priority remains to fully define Rupice NW and attempt to connect it to the main RMR across a 90m drilling gap during Q1 2023. A Mineral Resource Estimate ('MRE') will be completed for Rupice and Rupice NW once drilling is advanced enough to better define the extents of the larger than expected Rupice NW and Rupice mineralised bodies, as well as drilling across a 90m gap to connect Rupice to Rupice NW. An additional diamond drilling rig is being mobilised to achieve 2023 drilling objectives. A total of four diamond drill rigs will be focussed on Rupice and Rupice NW as the highest priority. Additional exploration drilling programs across the Droskovac, Semizova Ponikva and Rupice West prospects are also scheduled for 2023. All regional exploration projects are at the drilling test stage after completion of successful geophysical, soil sampling, mapping and interpretive work. Maintaining an active exploration pipeline of advancing projects remains a priority for Adriatic.
ADRIATIC METALS PLC 
