Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) General Manager of Corporate Development Klara Kaczmarek speaks to Thomas Warner from Proactive after the precious and base metals explorer and developer released an updated ore reserve estimate for its 100%-owned Rupice silver-zinc-lead-gold deposit in Bosnia & Herzegovina.
Adriatic Metals has announced a significant 89% increase in its ore reserve estimates, rising from 7.3 million tonnes in July 2021 to 13.8 million tonnes today. This update includes reserves from both Rupice and Rupice Northwest, marking a substantial growth for the company. Kaczmarek emphasises the increased life of mine from 10 to 18 years, demonstrating the company's potential for further extension through ongoing exploration and drilling programs.
She mentions plans to announce more increases in resources and reserves in the first half of the next year. This advancement underlines Adriatic Metals' commitment to longevity and sustainability in the mining sector. Looking ahead to 2024, Kaczmarek reveals more about Adriatic Metals' plans, including initiating first concentrate production in January and ramping up to nameplate capacity. The company also aims to study potential increases in capacity from 800,000 tonnes per annum to over a million tonnes.
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