Base and precious metals exploration company Lykos Metals has provided an update on exploration activities at the company’s 100% owned Sinjakovo and Cajnice projects in Bosnia and Herzegovina.
At Sinjakovo, the Company has identified three new polymetallic-bearing shear zones from the first trench at the Erak locality within the Zekil-Erak Prospect, the widest zone being 61m of trench length (~50m true width) that has returned an average grade of 1.50 g/t gold. The Company is presently finalising local area permitting required to commence drilling.
At Cajnice, reconnaissance fieldwork identified two new areas – the Kapov and Tubrojevivi prospects for detailed mapping to inform potential drilling programs. Subject to winter weather conditions, preparation for site access is scheduled to commence in Q1 2023 at targets identified and reported previously (see announcement dated 22 November): Majdan (rock samples up to 1.91 g/t gold, 220 g/t silver and 13.26% lead) and Pisonica (rock samples up to 51 g/t silver and 2.78% lead).
Lykos Metals Chairman Stephen Allen said
“The Erak locality is fast emerging as a high-priority target for drilling in 2023 following the discovery of significant gold mineralisation at surface from the first trench.
“Lykos is entering its second year as an ASX-listed exploration company with a substantial body of knowledge built from systematic, targeted drilling and fieldwork campaigns in 2022 at the Sinjakovo and Cajnice projects.
“While on-ground activities are paused for the winter period, the exploration team is consolidating and interpreting the significant data collected in 2022 to further grow our understanding of the outstanding potential across our tenements.”
Source: Investor Insight
