Dual-listed precious and base metals explorer Adriatic Metals, which focuses on its Vareš project in Bosnia, has appointed a new CFO and a new chief geologist, as it moves to develop its assets into production and expand its known resource base.
The company appointed former Avesoro Resources executive Geoff Eyre as its CFO. Adriatic noted that Eyre was intrinsically involved in the turnaround in performance of the New Liberty gold mine in Liberia, Avesoro’s acquisition of the Youga gold mine in Burkina Faso and the company's subsequent acquisition by its largest shareholder.
Sean Duffy, who has been CFO of Adriatic since November 2017, would leave the company on March 6.
Further, Adriatic announced the appointment of Philip Fox as chief geologist, based in Vares. He is succeeding Bob Annett, who retired in December. The explorer said that Fox was an experienced exploration geologist with extensive knowledge of the Tethyan mineral belt gained while exploration manager at Dunav Resources. Most recently, he was project manager at Toachi Mining in Ecuador, where the deposit shares many similarities with Rupice.
The Vareš project comprises a historic opencut mine at Veovača and brownfield exploration at Rupice, an advanced proximal deposit which exhibits high grades of base and precious metals.
Adriatic's short-term aim is to expand the current resource at high-grade Rupice deposit, as well as conduct exploration on a number of other prospects within the expanded concession.