Geological works in north-western Bosnia-Herzegovina have unearthed highly concentrated gold deposits, which will now be tested for possible exploitation, the company doing the works said on Thursday.
Miloš Bošnjaković, general manager of Lykos Balkan Metals, said gold was discovered along the river Pliva near Mrkonjic Grad. He told Nezavisne Novine that there was “an unbelievable amount” of gold in the soil.
“High amounts of gold were confirmed at three locations, going up to the unbelievable 27.5 grammes per tonne, in a continuous line of 60 metres,” he told Nezavisne Novine.
Bošnjaković explained it would take years to determine if the gold deposits are suitable for exploitation but said that “testing of samples in accredited laboratories has shown a high potential for further geological research”.
The parent company, Lykos Metals, is listed on the Australian stock exchange and its Balkan branch has been doing geological research in Bosnia-Herzegovina and across the Balkans since last year. According to the chief geologist, Mladen Stevanović, the original aim was to search for copper and cobalt.
Bosnia and Herzegovina, which became a candidate for EU membership in December, is one of the poorest countries in Europe, with a GDP per capita of $7,143. according to World Bank data. Only Albania, Kosovo, Moldova, and North Macedonia are behind in economic terms.