Originally posted by El Jefe
Handy to have a thread for dumping this type of info.
Here is the most recent one from @sethdavis a couple weeks ago, by the blokes at Tamesis who visited site recently. Interestingly although the largest estimate at circa 10MT based on current drilling to date, from a grade perspective with ~13% ZnEq translating to approx 8 g/t AuEq if I'm not mistaken.
https://gallery.mailchimp.com/ad1cc...a696-9de1fa0fe14b/ADT_20190121_Site_Visit.pdf
From Ashanti Capital July 18;
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Adriatic Metals PLC (ADT.ASX, 43cps, m.cap A$56.2m with 130.8m SOI, Cash $10.5m, Polymetallic Explorer / Developer
- Our fellow supporters of ADT, Sprott Capital Partners, published a note from a resent visit to site
- Sprott's view: SCPe >600Koz at 15 g/t AuEq, with >300Koz AuEq per 100m down-plunge growth
- "In short, we think Rupice has Tier 1 potential, with a high-grade core of SCPe >600koz @ 15g/t AuEq defined by current drilling alone. This excludes barite credits, and by value is ~30% Ag, 20% Au, 25% Zn, 20% Pb, and 5% Cu.... Beyond this we see good, albeit more speculative, potential for a multi-million-ounce upside including; (i) down plunge extensions at Rupice, (ii) along-strike IP features NW and SE, including the IP anomaly at Brestic-Jurasevac with historic workings, and (ii) regional / satellite upside."
- Why Sprott likes Adriatic:
- High-grade mineable inventory potentially already defined (SCPe > 600koz @ 15g/t AuEq)
- Near-term share price catalyst with down-plunge drilling of best mineralisation to date
- Underexplored, underappreciated belt with apparent Tier 1 potential
- Bosnia's combination of excellent infrastructure + logistics and low opex, royalties, taxes
- Catalysts
- 3Q18: First assays from Brestic-Jurasevac
- 2H18: Potential land holding expansion
- 2018-9: Ongoing 14,000m exploration drill programme
- 1Q19: Maiden Rupice resource, updated Veovaca resource
- Mid-2019: Scoping study for combined Veovaca-Rupice operation
Our preferred exposure to ASX listed base metals explorer/developer plays is Adriatic and we share a similar view as outlined by Sprott above.Please contact the desk on +61 8 6169 2668 should you wish to discuss ADT further. |
There is this one from CG on the company website, for some reason I can't open it.
The company has removed a report from Sprott Capital from the website for some reason, maybe someone else still has these to hand and can post them.
There is also one from Paradigm (or similar), an Australian managed fund that was posted on here a couple of months back that I can't find either.
I'm still trying to work out the MC here compared with a poly I'm in because I can see quite a few smart people and some of their fanboys on this.
If you take the upside potential of say 10mt @ 13% zneq assumed in this report, the one I'm in is $30m cheaper and has already JORC'd 42mt @ 8.7% zneq or 23mt of high-grade ore @ 13.6% zneq (based on its 51% ownership) with plenty of exploration upside being an understatement.
I can see the average grade of the drills for ADT are phenomenal. Is anyone expecting the JORC grade to approach anything like the average zneq grade on the drills, and if so, why has the report been so conservative in estimating the grade?
Also am I right to assume this project is tending towards an UG operation or do people see this as a combination of initial OP followed by UG?
(20min delay)
