(Alliance News) - Adriatic Metals PLC on Tuesday said it has secured results from the second phase metallurgical test work of its Vares project located in Bosnia & Herzegovina.
The first phase of the preliminary metallurgical test work was completed in September.
The exploration & development company said the second phase test work was initiated to verify the sequential concentrate production of copper and to confirm the metallurgical recoveries from feed.
Adriatic Metals said its metallurgical consultant undertook a detailed froth flotation study focussed on the production of separate copper, lead and zinc concentrates as well as a barite product.
The test work confirmed that it is possible to produce a copper concentrate containing "significant" quantities of payable gold and silver, the company highlighted.
"We are delighted with the early results of this second metallurgical test work program," said Managing Director & Chief Executive Paul Cronin.
"The quality of the copper concentrate produced will have a very positive effect on the aggregate revenues generated from concentrate sales if confirmed in the feasibility study, increasing potential copper, silver and gold payability significantly," added Cronin.
Finally, the company said it has selected Ausenco Engineering Canada Inc as lead consultant for the feasibility program. Adriatic Metals said it will be appointing additional consultants to carry out specialist roles under the guidance and management of Ausenco.
Adriatic Metals shares were trading 1.3% higher in London on Tuesday at 99.84 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Adriatic Metal. (ADT1)