Join our daily newsletter At The Bell to receive exclusive market insights
- In its first three months as an ASX-listed company, Lykos Metals (LYK) has consistently released pleasing results from sampling work in Bosnia-Herzegovina
- Latest results have increased an existing nickel and cobalt anomaly at the Sockovac project to 13 square kilometres and further sampling is underway ahead of maiden drilling
- Over at the Sinjakovo project, results confirm high-grade gold and copper-in-soil anomalies to the west and two separate copper anomalies in the central area
- With further sampling, trenching work and drilling in the pipeline, the company says 2022 is shaping up to be an “exciting year”
- Lykos is up 5.36 per cent to trade at 29.5 cents
Lykos Metals (LYK) has released an exploration update for the Sockovac and Sinjakovo projects in Bosnia-Herzegovina.
After listing on the ASX in October last year, Lykos hit the ground running with significant results from geochemical sampling programs completed across the projects.
In November, results confirmed significant nickel and cobalt anomalies at Sockovac as well as a large, high-grade copper-gold anomaly at Sinjakovo.
Then in December, the company announced that further results from the Sockovac project returned gold, silver and zinc-lead grades in a newly discovered mineralised subcrop to the northeast.
It seems today’s announcement has followed suit with an additional batch of results increasing the nickel and cobalt-in-soil anomaly in the extended Sockovac licence area to 13 square kilometres in size.
Almost all of the additional 191 soil samples reported values above 0.1 per cent nickel and over 100 grams of cobalt per tonne (g/t) in-soil.
The company is undertaking further soil sampling at Sockovac to refine the geological understanding of the project area ahead of a maiden drilling program which will test potential nickel-cobalt sulphide targets in the south and twinning historical high-grade nickel intercepts.
Over at the Sinjakovo project, Lykos has completed a follow-up infill sampling program to the west.
Results have been received for all 215 samples from the west and have confirmed multiple high-grade gold and copper in-soil anomalies over a 1.5-kilometre by 1.5-kilometre area which remains open to the southwest.
In addition, Lykos completed infill sampling on a copper anomaly in the central portion of the project which has revealed two separate coherent copper-in-soil anomalies, returning results of up to 0.23 per cent copper.
Lykos believes that both anomalies may represent the same mineral system at depth and plans to follow this up with a trenching program and potential drilling.
“In our first three months as an ASX-listed company, we have delivered on our commitment to conduct systematic, ground-up exploration across our projects,” Managing Director Mladen Stevanovic said.
“An airborne geophysical survey is the next planned step in the program which will bring together a coherent geological picture of the high-grade potential of our Sockovac and Sinjakovo projects.
“2022 is shaping up to be an exciting year for Lykos.”
Lykos was up 5.36 per cent to trade at 29.5 cents at 2:04 pm AEDT.
