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 and Herzegovina.
HIGHLIGHTS:
Sinjakovo
- First trench at Erak locality, within the Zekil-Erak prospect, complete. Three zones hosting polymetallic mineralisation up to 60m wide identified, results pending.
- Rock chip SIRC393 near the trench returned 7.77 g/t gold, 2,070 g/t silver, 15.85% copper, 4.53% antimony and 0.72% zinc (58 g/t gold equivalent)
- Diamond drilling at RDK prospect underway, with 12 of 19 planned holes now complete.
- Sulphide zones with 6m @ 0.022% cobalt, 3m @ 0.4% tungsten as well as low copper grades identified.
- Two drillholes (200m apart) intersected strong sulphide mineralisation west of the old copper mine, results pending. A further two follow-up holes are in progress
- Landowner agreements signed and access tracks prepared for drilling at Erak, Bag and Kovacevac localities. Drilling is expected to commence as early as December or in early 2023, subject to winter weather conditions
Cajnice
- Twinning of historic diamond holes at Berkovici prospect complete. Best results included 5m @ 0.53% lead. Further twin drilling at Cajnice to commence in 2023
- Detailed field mapping is ongoing to inform next drilling priorities at newly identified locations
At the Sinjakovo project, Lykos has identified three new polymetallic-bearing shear zones located within the recently identified Zekil-Erak prospect. These new mineralised zones were identified in the first trench excavated at Erak locality, with the widest zone being some 60m of trench length. A rock chip sample near one of those zones returned the exceptional result of 58 g/t gold equivalent.
With landowner agreements signed and access tracks prepared, the company is working with the local community to finalise an agreed approach for drilling and expects to commence drilling of newly identified targets Erak, Bag and Kovacevac as early as December, or in early 2023, subject to winter weather conditions.
At the RDK Prospect, 12 of 19 diamond drill holes are now complete. Two neighbouring drill holes (some 200m apart) intersected sulphide-rich zone. Two additional drill holes are underway to follow up on newly identified mineralisation.
At Cajnice, the twinning of historical holes at the Berkovici prospect confirmed historical observations of several narrow, lead-bearing shears. The field team has spent the past two months intensively mapping and sampling outcrops. Further drilling, if warranted, will commence in early 2023 once winter weather conditions allow.
Lykos Metals Managing Director Mladen Stevanovic commented:
“The Lykos team is continuing the systematic and efficient exploration of our 100% owned projects in Bosnia and Herzegovina. I am pleased with the results achieved so far, which confirm the enormous potential on our tenements. As winter approaches I look forward to working with the team to map out an appropriate field work schedule for 2023 when weather conditions improve again.
“One year into the Lykos journey as an ASX-listed exploration company, I am proud of the steady progress we have made across our projects and the way we have engaged with our local stakeholders. Much more work needs to be done but we remain focused on our mission to deliver sustained value for all shareholders.”
