Drill rigs will soon be deployed at Lykos Metals’ (ASX:LYK) Bosnia-Herzegovina projects after recent surface results confirm the potential for a “significant polymetallic discovery”, CEO Milos Bosnjakovic says.
Bosnjakovic says the battery, base and precious metals exploration company is ready to deploy the drilling rigs at its 100% owned Sinjakovo and Sockovac projects upon receiving the necessary approvals.
Lykos has applied for amendments to the ‘program of work’ to allow drilling at the priority localities.
Some upcoming drilling plans have been finalised, such as drilling in the south part of Erak prospect. The initial two shallow diamond drillholes (for total 110m length) will provide the “first-ever” drilling in the south part of Erak, where the mineralisation 21m @ 1.3g/t AuEq has been intersected at surface.
Further drilling will be a subject to this initial drilling program. At Kovacevac, further surface sampling and mapping will be completed to inform the next steps. The next steps may include ground geophysical survey and the initial shallow ‘first-ever’ drilling.
“At Sockovac, the company has lodged an application for the exploration licence Petrovo, which incorporates the previously revoked Sockovac tenement,” the CEO says.
“We are also preparing the launch of a surface sampling campaign at the Doboj tenement. The recent changes to the Law on Geological Exploration allow Lykos to continue vigorously with exploration activities.”
Since the changes to the law came into effect on 24 July 2024, Lykos has applied for amendments to its Program of Work for the Sinjakovo Project to allow drilling in the priority locations.
The company’s geologists have followed up on previous soil and rock-chip sampling results with the aim to collect additional geological observations to update geological maps, ahead of finalising the drilling designs.
The polymetallic sulphide mineralisation has been sampled at two areas – Kovacevac and Erak prospects. Twenty-three rock-chip samples have been collected during the field visits.
The company is also preparing to restart exploration activities in the Sockovac region after a two-year hiatus. The soil sampling campaign at granted tenement Doboj (in initial 200x200m grid) is planned to begin during October with aim to extend the strike of the nickel-cobalt anomaly discovered in 2022.
At application tenement Petrovo, once the tenement is granted and all necessary approvals have been received, Lykos will be ready to promptly employ the drilling rigs to test the historical ‘high-grade’ nickel-cobalt prospect.
Write to Adam Orlando at Mining.com.au
Images: Lykos
