Yugo Metals (ASX:YUG) has intersected gold at its first-ever drilling campaign at the Erak prospect within the Sinjakovo Project in Bosnia and Herzegovina.
The company has drilled five holes at the prospect to date across 632m, returning 4m @ 1.2 grams gold from 101m, 4m @ 1.9g/t gold from 105.1m, 8m @ 1.2g/t gold equivalent from 26.1m, and 3m @ 0.9g/t gold from 107.4m.
Yugo also intersected a 23m alteration zone from 111m depth at hole ERDD005 and a 34m alteration zone from 82m depth at hole ERDD06. Both holes are still awaiting results.
The drill rig is now moving to drill pad #3 to test a previous trenching result. Yugo previously returned 61m @ 1.5g/t gold from trenching, which the company describes as its “best trench result”.
Yugo says the results returned to date are associated with gold-bearing phyllic alteration, striking east-west, dipping north, and open in all directions.
Drilling also intersected gold-silver-copper-antimony mineralisation of up to 8m @ 1.2g/t gold equivalent, including 4m @ 0.5g/t gold, 40g/t silver, 0.6% copper, and 0.25% antimony.
The company expects pending results in about six to eight weeks. Drilling is ongoing with two holes planned to be completed in the western area of the prospect.
Following drilling to the west, Yugo will relocate the rig to the eastern section of Erak.
CEO Petar Tomašević says the first-ever drilling campaign at Erak has confirmed a “genuine gold discovery”.
“All drill holes to date have intersected the gold-bearing alteration that is still open in all directions, and with thickness being the greatest in the intervals that are yet to return from the lab,” Tomašević says.
“The gold system at Erak is set to grow. The best intercepts of alteration are still open.
“Also, we are yet to start drilling at the nearby location with the best trench result of 61m length at 1.5 grams of gold per tonne at surface.”
The Sinjakovo Project is located in the Republic of Srpska of Bosnia and Herzegovina, spanning 80km² across two tenements.
The project targets gold, antimony, silver, copper, cobalt, zinc, and lead mineralisation across multiple prospects identified through soil sampling, rock-chip sampling, and trenching programs.
Yugo Metals is focused on its portfolio of assets in Bosnia and Herzegovina, combining historical mining knowledge with modern systematic exploration in one of the world’s oldest mining regions.
Write to Maddison Elliott at Mining.com.au
Images: Yugo Metals
