Adriatic Metals company made a conclusion that the area of Vares is extremely rich in gold and silver, and the exploitation could significantly improve the economic situation in BiH.
Namely, works on the excavation of precious metals in the Vares area were approved earlier in 2018, and soon there will be an expansion of existing concessions in the wider region of Central Bosnia.
The location of Rupice, where gold and silver is found, has definitely a “bright future” and the Adriatic Metals company has strong support in terms of its long-term ambitions in relation to exploration and mining developments in BiH.
In the previously mentioned location, until this moment, 9.5 percent of zinc, 4.9 lead, 2.4 g / t gold, 187 g / t of silver, 0.5 percent copper and 56 percent barit at 200 meters below the ground were found.
Apart from the area of Rupice, it is considered that metals could also be found in Brestic, Jurasevac, Borovac and Veovaca.
“The announcement of the proposed project finance package is a significant milestone, demonstrating the extent of support globally for new investments in mining in the Balkans, and Bosnia & Herzegovina in particular. At Adriatic we have strived to move through the project development phases, at pace and professionally, in order to deliver value to our shareholders and align the project delivery with the aspirations of our local community in Vares. This outcome is a positive reflection of the team we have built at Adriatic in its short history, who over the past 12 months have delivered several critical outcomes that have culminated in the success we have today. We look forward to continued success in the future as we transform from developer to producer,” said Paul Cronin, CEO of Adriatic Metals Plc, in a statement.
