Project Overview

The Exploration Concession covers two main advanced polymetallic projects located near the town of Vareš, which is approximately 50km north by sealed road from Sarajevo, the capital city of Bosnia & Herzegovina. Both the Veovaca and Rupice Projects have had varying degrees of historical exploration and exploitation, and several prospects within the existing Exploration Concession and in the nearby region also indicate encouraging signs warranting further exploration.

Adriatic, through its wholly owned BiH subsidiary company, Eastern Mining doo (Eastern Mining) owns 100% of one Concession which extends over the entirety of the Veovaca deposit defined to date. Eastern Mining is the first company to undertake any exploration at the deposit and in the surrounding Vareš District since the late 1980s.

Adriatic has compiled historical exploration activities for the Concession and surrounding areas and entered this data into a database. Exploration by Adriatic has focused on activities at the Rupice and Veovaca areas within the Concession, including geophysical programs (induced polarisation) and drilling of the historical resource at Veovaca and the advanced Rupice project. Limited exploration activities have been completed in the area immediately surrounding the Rupice prospect.


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Rupice Project

The Rupice Project is an advanced exploration project which exhibits exceptionally high grades of base and precious metals and is located approximately 12km North West of the Veovaca Project.

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Maiden Resource Estimates

The Maiden Resouce estimate for Rupice and updated Maiden Resource for Veovaca were released on 23rd July 2019.

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Veovaca Project

The Veovaca Project is an historic open cut zinc, lead, barite and silver mine which operated between 1983 and 1987, and ultimately shut down due to emerging hostilities in the region.

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Scoping Study

This Scoping Study assesses the potential viability of running an underground mining operation at Rupice followed by an open-pit operation at Veovaca, with all mined material being centrally processed on the site of the derelict processing plant at Veovaca, which will be cleared for construction of a new processing plant.

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Regional Prospects

Veovaca and Rupice have numerous regional prospects with Exploration Targets indicating attractive tonnages and grades.

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Preliminary Metallurgical Testwork Results

Metallurgical test-work confirms excellent metallurgical recoveries and concentrate grades from representative samples collected across the Rupice and Veovaca deposits.

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