Project Overview

The Exploration Concession covers two main advanced polymetallic projects located near the town of Vareš, which is approximately 50km north by sealed road from Sarajevo, the capital city of Bosnia & Herzegovina. Both the Veovača and Rupice Projects have had varying degrees of historical exploration and exploitation, and several prospects within the existing Exploration and Exploitation Concession and in the nearby region also indicate encouraging signs warranting further exploration.

Adriatic, through its wholly-owned BiH subsidiary company, Eastern Mining d.o.o (Eastern Mining) owns 100% of one Concession which extends over the entirety of the Veovača deposit defined to date. Eastern Mining is the first company to undertake any exploration at the deposit and in the surrounding Vareš District since the late 1980s.

Adriatic has compiled historical exploration activities for the Concession and surrounding areas and entered this data into a database. Exploration by Adriatic has focused on activities at the Rupice and Veovača areas within the Concession, including geophysical programs (induced polarisation) and drilling of the historical resource at Veovača and the advanced Rupice project. Limited exploration activities have been completed in the area immediately surrounding the Rupice prospect.


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The Vares Project

The Vares Project contains two advanced exploration deposits, Veovaca and Rupice, which have previously been mined for Lead, Zinc and Barite.

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Regional Prospects

Veovača and Rupice have numerous regional prospects with Exploration Targets indicating attractive tonnages and grades.

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