Base and precious metals company Lykos Metals (ASX: LYK) has commenced its maiden drilling program at its 100% owned Cajnice project in Bosnia-Herzegovina.
The seven-hole, 580-metre diamond drilling campaign will test the western and shallowest part of the newly identified Gramusovici copper-silver prospect at 40-metre spacing. The program is expected to take about a month to complete.
Lykos said the results would help to grow its geological understanding of the copper-silver mineralised system at the project and provide the rationale for further testing of a potential depth-repetition and downdip extension of the copper-silver bearing lode.
The program at Cajnice is the first drilling since Lykos listed on the ASX in October 2021 and, importantly, signals the formal commencement of the post-winter, on-the-ground exploration program at all three of the company’s projects – Cajnice, Sockovac and Sinjakovo.
Lykos Metals Managing Director Mladen Stevanovic said: “I am delighted that we have finally begun drilling at our projects in Bosnia-Herzegovina, which fulfills a promise we made when we listed on the ASX late last year to drill-test the many base metals and gold targets we are identifying across Cajnice, Sockovac and Sinjakovo.
“Our confidence has always been high in the quality and prospectivity of all our three projects and it has just been a case of deciding an appropriate drilling schedule based on the progress of our exploration programs. The success of the rock chip program at Cajnice in March, which delivered us the Gramusovici Prospect, made it an easy decision for Lykos to immediately follow up with a maiden diamond drill campaign.
“Our focus now is to safely and responsibly complete Phase 1 drilling at Gramusovici and then assess the results, which will inform next steps including the potential of a Phase 2 campaign.
“In the meantime and in parallel, our exploration team will continue to further advance Sockovac and Sinjakovo with a clear strategy to define more gold and base metals targets ready for drill-testing.”