Base and precious metals exploration company Lykos Metals Limited (ASX: LYK) has provided its activities report for the quarter ended 31 December 2021.
HIGHLIGHTS:
- Lykos commences trading on the Australian Securities Exchange following a heavily oversubscribed $12 million Initial Public Offer (IPO)
- Sockovac Project – significant nickel and cobalt anomalies confirmed together with exceptional gold and silver plus zinc-lead grades in newly discovered mineralised outcrop; silver in rock chips up to 1,330g/t
- Sinjakovo Project – large new gold and copper anomalies identified; gold in soil up to 2.08g/t Au
- License area at Sockovac extended by 50km2
Activity summary
Lykos commenced trading on the ASX on 21 October following a heavily subscribed $12 million IPO. Lykos is the 100% owner of three battery and precious metals exploration projects in Bosnia-Herzegovina – Sockovac, Sinjakovo and Cajnice.
During the quarter, Lykos completed substantial fieldwork programs at the Sockovac and Sinjakovo Projects including both soil and rock chip sampling and geological mapping.
Assays received to date confirmed the presence of significant nickel and cobalt soil and bedrock anomalies and also identified exceptional gold and silver plus zinc-lead grades in a newly discovered mineralised outcrop at the Sockovac Project. At the Sinjakovo Project, assays identified large new gold and copper soil anomalies.
Cold weather fronts in mid-November and immediately before Christmas brought snowfalls at each of the Company’s three project areas which caused fieldwork to pause until mid-January. However, momentum was maintained with ongoing analysis of incoming results and interpretation of the geological data from the fieldwork activities at both Sockovac and Sinjakovo.
The Company’s geologists continued planning for an airborne geophysical program, which is scheduled to commence in Q2 of 2022, together with maiden drilling campaigns at both Sockovac and Sinjakovo. Fieldwork at the Cajnice Project is planned to commence in Q1, subject to easing winter weather conditions.
