ADT 2.38% $4.10 adriatic metals plc

Rupice v Red Dog, page-6

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    This is from Critical Investor (Posted 2 Feb), a European newsletter writer (my clarifications in brackets) at CEO.CA : AskedCronin (ADT director) some questions about proceedings. He said they areexpecting the UPP imminently and the exploration license should take no morethan 3 weeks (after that) to be issued. Currently drilling at Rupice (NB. not northern extension) and Veovaca. Heavy snowfall last month has slowed progresstemporarily (track is very steep and needs to dry) but they expect to have all4 rigs operating on the northern plunge and the new zone to the South East.They will add two more rigs at JB after they have finalized the new IP survey.It will penetrate deeper (down to 400m) than the survey from 2017 (down to120m) and should help identify the mineralization deeper than 200m. They expectto drill about 20,000m this year. Next results will be in March. They plan tocommence drilling the big IP targets to the south of Rupice in May. Historicaldata would suggest that mineralization is quite shallow but findings fromRupice North show that shallower lower grade mineralization is accompanied byhigher grade at depth if the structural conditions exist, so they hope to findthis there too.
    So, lots of exploration drilling coming up, not to make incremental steps but to hopefully blow out current tonnage estimates including in the 900m Rupice-JB corridor.and east beyond JB as well as in the northern extension where thrusting has caused the orebody to thicken substantially as can be seen from the latest drill results. Ah exploration, you have to love it! It's all about the rock assemblage.

    Last edited by HarryKane: 03/02/19
 
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