Zinc polymetallic explorer and developer Adriatic Metals PLC announced results from a preliminary metallurgical test work program on samples of ores from the Rupice deposit and the Veovača deposit.
The deposits are part of its 100% interest in the Vareš Project that is located close to the mining town of Vareš in Bosnia and Herzegovina. The project comprises a historic open cut zinc/lead/barite and silver mine at Veovača and Rupice — an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.
The test work programs were carried out by Wardell Armstrong International (WAI) under the guidance of Adriatic’s own metallurgical consultant.
Suitable samples, representing the Mineral Resources from both deposits were selected and sent to WAI for separate testing of Rupice samples and Veovaca samples.
The objective of the testwork programs was to establish basic processing data, to test processing options and to develop and test a flowsheet that would demonstrate that a marketable concentrate could be developed from each deposit.
The company reported excellent recovery of precious metals and copper at Rupice with further metallurgical optimisation test-work underway.
Additionally, current test-work confirms that the same process plant can process both Rupice and Veovaca ores.
Adriatic’s Managing Director and CEO, Paul Cronin commented:
“The recent results from the metallurgical test work programs for Rupice and Veovaca demonstrate excellent recoveries. All Rupice concentrates exceed current specifications at a range of European and Chinese smelters, and in the case of barite, exceeding the API specification.
“Our ongoing work on metallurgy has been conducted in conjunction with marketing studies with the aim to maximise net smelter revenues against competitor products being sourced by end users. These are excellent initial results, and I am confident that results can be further optimised as we undertake more detailed test work to support the potential Definitive Feasibility Study.
“In the meantime however, we expect these results will have a significantly positive impact on the potential economics of the project, currently being evaluated in our upcoming Scoping Study”.
Adriatic’s short-term aim is to expand the current JORC resource at Veovača and to complete in-fill and expansion drilling program at the high-grade Rupice deposit.
The announcement follows news last week that Mr Paul Cronin has been appointed as Managing Director and Chief Executive Officer of Adriatic.
Cronin is currently an Executive Director of Adriatic, one of its founders and a major shareholder. His past experience with the company, its assets and people, make him uniquely qualified to lead Adriatic through the next phases of its development. Mr Cronin was a former investment banker and fund manager with RMB Resources, and is also a director of Black Dragon Gold Corp and Global Atomic Fuels Corporation.