Battery and precious metals exploration company Lykos Metals Limited (ASX: LYK) is pleased to announce that it is expanding its tenements position around the highly prospective, 100%-owned Sockovac and Sinjakovo projects in Bosnia-Herzegovina.
Lykos has received formal confirmation from the Ministry of Mining and Energy for the Republic of Srpska of the granting of an additional licence, expanding its 100% owned Sockovac project to an area of 67km2. Lykos has also commenced the application process with the Ministry of Mining and Energy for the Republic of Srpska for the granting of an additional licence to expand its 100% owned Sinjakovo project.
Lykos managing director Mladen Stevanovic, who has travelled to Bosnia-Herzegovina for on-the-ground management of the exploration programs,
“Securing this new licence at Sockovac is an important step for us to fully investigate the extent of the nickel-cobalt anomalies recently identified on the existing licences. Similar to the company’s existing licences, no modern or systematic geological exploration has ever been conducted on this new licence area. Our geologists are planning a first-pass mapping and geochemical sampling program and intend to have these completed by early 2022. This new licence area will be incorporated into the planned airborne geophysical survey to commence in early 2022.
“Concurrently, we are making good progress with the necessary ground works for our upcoming twin-drilling campaign at Sockovac and look forward to updating the market in the coming weeks. We were also very encouraged by the findings of the first-ever geochemical survey at Sinjakovo. Having identified an outstanding gold and copper anomaly in the south-east, we have prioritised an application for a new adjoining licence area to ensure the Company can fully investigate the extent of the anomaly.
“Having now arrived in Bosnia-Herzegovina, I look forward to working with the Lykos team on the ground on our aggressive exploration programs. It was always my intention to spend a considerable amount of time in Bosnia-Herzegovina and I am thrilled to have been able to travel here so soon after Lykos’ successful ASX listing.”