Leviathan Metals (TSX-V:LVX) has been granted an exploration licence to expand the Foča Project, located in Bosnia and Herzegovina.
Adjoining the Marevo licence to the south and the east, the Tjemenik licence was granted by the Ministry of Energy and Mining of Republika Srpska and covers an area of 50km2.
Tjemenik brings the Foča Project to a total area of 150.7km2, with an application for the Podovi licence still pending. Podovi sits to the west of Morevo in similar stratigraphy and structure.
CEO Luke Norman says the granting of the Tjemenik licence is an “important” step in growing the Foča landholding, after uncovering polymetallic mineralisation at the Vrela-Kremin trend.
“Tjemenik falls within the same stratigraphic sequence and structural setting as the neighbouring Marevo licence area – host to Vrela-Kremin – and is therefore an exciting organic addition to our portfolio,” Norman says.
“I’d like to further explain the significance of our recent results from Foca too: We noted that trench sampling has returned robust high-grade polymetallic mineralisation in broad widths at surface including 14m at 7.78% zinc equivalent, and 12m at 8.92% zinc equivalent.
“These intervals are of comparable zinc and lead grade to the historic Yugoslav drilling that originally drew us to Foca, and fall within the same 2.6km Vrela-Kremin trend – as defined by soil geochemistry and mapping – providing us with an early indication of the grade and footprint potential of Foca.
“Not only does the award of Tjemenik increase our potential for success, it also illustrates the ease of doing business in Bosnia, and the expertise of our project team in identifying and securing additional assets.”
Leviathan Metals is a Canada-based mineral explorer focused on discoveries prospective for primarily copper, uranium, and polymetallic.
Write to Maddison Elliott at Mining.com.au
Images: Leviathan Metals
