ADT - Adriatic Metals very encouraged by latest exploration drilling assays
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Adriatic Metals PLC (LSE:ADT1, ASX:ADT,OTCQX:ADMLF) chief executive Paul Cronin speaks to Thomas Warner fromProactive after releasing fresh drill results from the ongoingexploration drilling campaign at Rupice Northwest.
Cronin says that the new assays vindicatethe decision to intensify exploration following a successful $30million funding round. Drilling will continue to define the westernextent of RNW for a further resource update at the end of 2023.
He also provides an update on constructionprogress at the site, where the plan is for plant commissioning bySeptember's end. The company is primed for a phased productionstart, anticipating a notable financial impact in 2024 as they worktowards full-scale production by 2025. Two rigs will continue drillingat Rupice Northwest and plans include step-out and infill diamondcored holes to achieve a nominal 40m x 30m mineralised interceptspacing.
Cronin says "we're very encouraged by thisexploration program... [and] of course we'll be putting out a newmine plan in October and a reserve statement at the sametime."
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