Base and precious metals exploration company Lykos Metals (ASX: LYK) has provided an update on exploration activities at the company’s 100%-owned Sinjakovo and Cajnice projects in Bosnia-Herzegovina.
HIGHLIGHTS:
Sinjakovo
- Two polymetallic shear zones identified in outcrop at Zekil-Erak prospect
- Up to 12.61 g/t gold equivalent returned from Erak 1 shear zone and up to 2.89 g/t gold equivalent returned from Erak 2 shear zone
- Trenching at Zekil complete
- Trenching at Erak commenced
- Preparations underway for drilling at Erak, Zekil, Bag and Kovacevac Diamond drilling at RDK Prospect underway – five of 19 planned holes completed, assay results identify narrow, high grade cobalt zones of up to 0.065% Co
Cajnice
- Twinning historic diamond holes at the Berkovici prospect in progress. Three of four holes completed with results pending
- Preparation underway for drilling at Braha, Majdan, Bandiera and Krapov
At Sinkajovo, the company has identified two new polymetallic shear zones, Erak 1 and Erak 2, both located within the newly discovered Zekil-Erak prospect.
At Erak 1, rock chip samples returned exceptional results of up to 12.61 g/t gold equivalent, with 3.75 g/t gold equivalent on average for 13 samples. Erak 2 is located 1km north of Erak 1 and rock chip samples returned results up to 2.89 g/t gold equivalent, with 2.22g/t gold equivalent on average for four samples.
Lykos is proceeding to commence a diamond drilling program in late September to follow up Erak 1 and Erak 2. The company expects more shear zones to emerge at Erak as trenching continues.
At Cajnice, twinning of historical holes at the Berkovici prospect continues to confirm historical observations of several narrow, lead-bearing shears. Three of four planned diamond holes are complete with all assays pending.
At the Gramusovici prospect, results have been received for seven of nine planned diamond drill holes. The results received to date do not adequately explain the grades of copper mineralisation in the discovery outcrop (1-10% copper), however the company believes that the mineralised system could improve to the west.
Commenting on the strong results, Lykos managing director Mladen Stevanovic said:
“Lykos’ ongoing, systematic exploration across the entire Sinjakovo project continues to provide new targets for follow-up works.
“The identification of two polymetallic shears at the Zekil-Erak prospect is highly encouraging, and the company is confident that more shear zones will emerge as trenching continues.
“The emergence of cobalt targets at the RDK prospect is an exciting development. There is no historical record of cobalt within the locality, warranting further investigation.
“Exploration programs at Cajnice are progressing well. Drilling at Berkovici continues to confirm historical observations of lead shears, and with three of four planned holes now complete, we look forward to updating the market once assays are available.
“With the aggressive soil sampling campaign across the entire project area completed, the company is now focused on preparing for drilling programs to test targets at Majdan, Bandiera, Berkovici Northwest, Braha and Krapov.”
