Base and precious metals exploration company Lykos Metals (ASX: LYK) today announced that it has been granted the Jezero tenement, and lodged an application for the adjacent Jajce tenement, at the company’s 100%-owned Sinjakovo copper-gold project in Bosnia-Herzegovina.
These two tenements are key landholdings needed to determine the potential extension of a significant gold anomaly that has been identified in the south-east of the existing project area.
The 31km2 Jezero tenement is located within the Jezero municipality, to the south-east of the Sinjakovo project area. Lykos announced its application for the Jezero tenement on 9 November 2021 after first-pass soil sampling discovered the potential extension of a significant gold anomaly to the south-east of the existing project area.
The company has since followed up with a 200x200m soil program and a 100x100m soil infill program in the existing tenement. The gold anomaly zone (>0.1 g/t Au in soil, with individual samples up to 2.1 g/t Au) discovered in the south-eastern Sinjakovo project area continued up to – and therefore most likely beyond – the tenement boundary.
The grant of the Jezero tenement and expansion of the Sinjakovo project area is therefore an exciting advance in Lykos’ exploration push.
Lykos has also made an application for the adjacent Jajce tenement, which is located within the Jajce municipality and would represent an eastern extension of the south-eastern portion of the existing Sinjakovo project area.
Lykos Metals Managing Director, Mladen Stevanovic, said: “The Jezero and Jajce tenements represent key landholdings needed to determine the full extent and quality of the gold anomaly that was identified in the south-eastern part of the Sinjakovo project area.
“Results from Lykos’ systematic surface sampling program at Sinjakovo late last year surprised and delighted our exploration team as we learned more about the geology and the potential for the identified mineralisation to extend beyond our original tenement boundaries.
“We are delighted to have been granted the Jezero tenement and await the outcome of our Jajce application. In the meantime, we are busy planning for the commencement of the 2022 exploration program at Sinjakovo, which will include soil sampling, heliborne geophysics, trenching and drilling.
“The renewed strength in commodity markets, particularly in gold, nickel and copper, leaves Lykos well-positioned to deliver value from exploration across all our projects in Bosnia-Herzegovina. We look forward to updating shareholders with our progress.”