The Vares Project contains two advanced exploration deposits, Veovaca and Rupice, which have previously been mined for Lead, Zinc and Barite. Operations ceased prior to the commencement of hostilities in the Balkans in the early 1990s. The deposits have been subject to extensive exploration, and contain significant quantities of Lead, Zinc, Silver, Gold, Copper and Barite. The precious metals were irregularly assayed during exploration, but were present in produced concentrates.
The Definitive Feasibility Study for The Vares Project was released on 19th August 2021.
To see our DFS presentation
The Vares Project consists of 42km2 of highly prospective concession area, which contains a number of regional targets.
The Veovaca Project is an historic open cut zinc, lead, barite and silver mine which operated between 1983 and 1987, and ultimately shut down due to emerging hostilities in the region.
The Pre-Feasibility Study for The Vares Project was released on 15th October 2020.
Resource estimate announcements for the Rupice and Veovaca deposits
The Rupice Project is an advanced exploration project which exhibits exceptionally high grades of base and precious metals and is located approximately 12km North West of the Veovaca Project.
This Scoping Study assesses the potential viability of running an underground mining operation at Rupice followed by an open-pit operation at Veovaca, with all mined material being centrally processed on the site of the derelict processing plant at Veovaca, which will be cleared for construction of a new processing plant.
Metallurgical test-work confirms excellent metallurgical recoveries and concentrate grades from representative samples collected across the Rupice and Veovaca deposits.
Adriatic’s flagship operation in full swing in a new modern-day jurisdiction