Adriatic said that under the terms of the concession agreement, the company now has three fields: Veovaca I and II and Rupice-Jurasevec Brestic.
Adriatic Metals (ASX:ADST) has announced that the Vares Municiple Council has approved Adriatic’s application for a major land expansion to its existing concession agreement at its Vares project in Bosnia and Herzegovina.
In its release, Adriatic said that under the terms of the concession agreement, the company now has three fields: Veovaca I and II and Rupice-Jurasevec Brestic.
As quoted in the press release:
Following the success of the exploration program that commenced in 2017, coupled with Adriatic’s historical database and recent geophysical and geochemical survey results, Adriatic applied for an expansion to the areas in its current concession agreement with the Zenica-Doboj Canton.
The extension areas include land where the company has identified a strong potential and where additional drilling could identify extensions to the known mineralization or where historical or recent data indicates the potential for new discoveries.
Adriatic is fortunate to have acquired a significant amount of historical data detailing exploration conducted in the Vares region between 1950-1990, and has been able to validate that historical work to a level of confidence that warrants the inclusion of those areas in the expanded concession application.