Adriatic Metals PLC announced updated Rupice Mineral Resource Estimate and drilling results. Highlights: Indicated and Inferred Mineral Resource estimate ("MRE") for Adriatic Metals' 100%-owned Rupice silver-gold-zinc-lead deposit in Bosnia & Herzegovina, now stands at: 12.0Mt @ 149g/t Ag, 1.4g/t Au, 4.1% Zn, 2.6% Pb, 0.5% Cu, 25% BaSO4 (reported above a cut-off grade of 50g/t AgEq) containing 58Moz Ag, 527koz Au, 489kt Zn & 312kt Pb; This represents a 32% increase in tonnes compared to the maiden 2019 Rupice MRE (using a 50g/t AgEq cut-off); 79% of the updated Mineral Resource is classified as Indicated; The updated MRE will provide the foundation to the PFS, which will incorporate ongoing metallurgical test work results and mining studies designed to optimise and improve the planned development configuration of the project compared with that outlined in the November 2019 Scoping Study; Recent drilling has also intersected high-grade massive sulphide mineralisation at Rupice - with the system remaining open towards the north and down-dip to the south. Rupice drilling and sampling: For the Mineral Resource estimate, a total of 167 diamond drill holes (46 historical drill holes and 121 drill holes from the Company's drilling programmes in 2017 (8 holes), 2018 (39 holes), 2019 (52 holes) and 2020 (22 holes)) for 38,135m define the current limits of the known mineralisation. The deposit was drilled and sampled using diamond drill holes at a nominal 20m by 20m spacing. Drill holes drilled by the Company were generally angled -50° to -80° mostly towards the southwest with dip angles set to optimally intersect the mineralised bodies. Additional drill holes were drilled from the opposite direction, and perpendicular to the mineralised trend. All the historical holes were vertical and focussed on the up-dip portion of the Rupice mineralisation. The drill core was sampled for assay; whole core for the historical drilling and half core (HQ and PQ) for the recent drilling. Recent assays were sent to ALS in Bor, Serbia for multi-element analyses. Rupice geology and mineralization: The host rocks at Rupice comprises Middle Triassic limestone, dolostone, calcareous and dolomitic marl, and a range of mostly fine-grained siliciclastic rocks including cherty mudstone, mudstone, siltstone and fine-grained sandstone. The main mineralised horizon is a brecciated dolomitic unit that dips at around 50o to the northeast and has been preferentially mineralised with base, precious and transitional metals. The Triassic sequence has been intensely deformed both by early stage ductile shearing and late stage brittle faulting. The Rupice polymetallic mineralisation consists of sphalerite, galena, barite and chalcopyrite with silver, gold, tetrahedrite, boulangerite and bournonite, with pyrite. The majority of the high-grade mineralisation is hosted within the brecciated dolomitic unit, which is offset and cut by northwest striking, westerly dipping syn-post mineral faulting. This faulting displaces the mineralised body up to 20 metres in places. Thickening of the central portion of the orebody occurs where these faults flexure and deform. Mineralised widths up to 65 metres true thickness are seen in the central portion of the orebody. To date, the massive sulphide mineralisation at Rupice has a defined strike length of 650 metres, with an average true-width thickness of around 20 metres. However, mineralisation at Rupice still remains open towards the north and down-dip to the south. Rupice modelling and grade interpolation: The main geological features that control the polymetallic mineralisation at Rupice were interpreted using geological and structural data collected. Three main domains were interpreted and wireframed individually; the main mineralised brecciated dolomitic units, that hosts the high-grade mineralisation; the fault zones that off-set and displace these main mineralised bodies; and a lower-grade halos peripheral and in the footwall of the main mineralised bodies. Statistical analysis of modelled domains showed that the main mineralised brecciated dolomite has a bimodal population for the majority of the elements being modelled. The higher-grade populations clustered spatially and were subsequently individually interpreted and wireframed. Ten elements were modelled; Ag, Zn, Pb, BaSO4, Cu, Au, Sb, Hg, As and S, and the higher-grade populations were interpreted and wireframed for all elements except Hg, As and Sb. All the domains were interpreted on a section by section basis and were used to generate 3D 'solid' wireframes. The same methodology was applied for the individual high-grade populations. Once mineralisation for each element was interpreted and wireframed, classical statistical analysis was repeated for the samples within the interpreted domains. Drill data was composited to 2m down hole intervals. Boundary statistical analyses and top cuts were determined and applied. The geostatistical analysis generated a series of semi-variograms that were used during grade estimation using Ordinary Kriging ("OK"). The semi-variogram ranges determined from the analysis contribute heavily to the determination of the search neighbourhood dimensions. All variograms were calculated and modelled for the composited sample file, constrained by the corresponding mineralised envelopes for each element. Where low-grade and high-grade domains were modelled, samples were combined for both domains to make sure that the number of samples was sufficient for robust geostatistical analysis. It was found that absolute semi-variograms were difficult to model for most of elements, and therefore, relative semi-variograms were modelled for Pb, BaSO4, Ag, Au, Sb, Hg, As and Cu. Absolute variograms were modelled for Zn and S. The density values were calculated for each model cell using a regression formula for all the domains except the combined high-grade domain. The formula was calculated using scattergrams for density versus BaSO4, Pb, Cu and Zn grades. Density values were interpolated within the limits of the combined high-grade domain.