ADT - Adriatic Metals updates ore reserve estimates at Rupice and looks ahead to 2024
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Adriatic Metals PLC (LSE:ADT1, ASX:ADT,OTCQX:ADMLF) General Manager of Corporate Development Klara Kaczmarekspeaks to Thomas Warner from Proactive after the precious and basemetals explorer and developer released an updated ore reserve estimatefor its 100%-owned Rupice silver-zinc-lead-gold deposit in Bosnia& Herzegovina.
Adriatic Metalshas announced a significant 89% increase in its ore reserve estimates,rising from 7.3 million tonnes in July 2021 to 13.8 million tonnestoday. This update includes reserves from both Rupice and RupiceNorthwest, marking a substantial growth for the company. Kaczmarekemphasises the increased life of mine from 10 to 18 years,demonstrating the company's potential for further extensionthrough ongoing exploration and drilling programs.
She mentionsplans to announce more increases in resources and reserves in thefirst half of the next year. This advancement underlines AdriaticMetals' commitment to longevity and sustainability in the miningsector. Looking ahead to 2024, Kaczmarek reveals more about AdriaticMetals' plans, including initiating first concentrate productionin January and ramping up to nameplate capacity. The company also aimsto study potential increases in capacity from 800,000 tonnes per annumto over a million tonnes.
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