Adriatic surges on extension drilling

SANDFIRE Resources-backed, Central European-focused explorer Adriatic Metals saw its shares soar 20% in midday trade on the back of its first report to the market since listing showing its first hole of 2018 had returned the highest grades and thickest intercept in drilling at Rupice to date.

Adriatic surges on extension drilling Adriatic surges on extension drilling Adriatic surges on extension drilling Adriatic surges on extension drilling Adriatic surges on extension drilling

A drilling rig at Rupice.

 
 
 
The company's shares, which hit the bourse on May 1 and have drifted as low as A17c as investors sold out while waiting for news, hit a record 25c before easing to 23.5c, valuing it at $25.5 million.
 
The result that excited the day-traders was 64m at 4.6 grams per tonne gold, 537gpt silver, 0.9% copper, 7.7% lead, 10.8% zinc and 46% barium sulphate, drilled 80m down-dip of a hole that returned 4m at 8.5% zinc, 5.1% lead, 374gpt silver, 2.3gpt gold, 1% copper and 43% barite 80m last year.
 
The Peter Bilbe-chaired company said the first hole offered "exceptional growth potential" for the deposit by confirming the consistency of the previously drilled, high-grade north...

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