- Lykos Metals (LYK) begins a drilling program at the Gramusovici copper-silver prospect within its Cajnice project in Bosnia-Herzegovina
- The seven-hole program will test the down-dip extent of a copper-silver bearing outcrop that was recently discovered through rock chip sampling
- This marks the first drilling program Lykos has undertaken since listing on the ASX in October last year
- Depending on the results from this initial campaign, Lykos will follow it up with phase two drilling
- LYK shares end the day trading flat at 27.5 cents
Lykos Metals (LYK) has begun a drilling program at the Gramusovici copper-silver prospect.
The Gramusovici Prospect is a newly-identified area within Lykos’ wholly-owned Cajnice project in Bosnia-Herzegovina.
The diamond drilling program is the first the company has undertaken since listing on the ASX in October 2021. It also marks the formal commencement of the post-winter, on-ground exploration program at its three flagship projects – Cajnice, Sockovac and Sinjakovo.
Lykos will complete seven holes, for 580 metres, predominantly aimed at testing the down-dip extent of a recently discovered copper-silver bearing outcrop.
The company announced the discovery at Gramusovici last month which is a 1.4-metre-wide and several metres long quartz-carbonate outcrop.
Six surface samples were collected as part of a rock chip sampling program which have returned results of up to 10.05 per cent copper and 155g/t silver, accompanied by a trace of gold.
Drilling will also help Lykos improve its geological understanding of the mineralised system and to support future exploration.
“I am delighted that we have finally begun drilling at our projects in Bosnia-Herzegovina, which fulfills a promise we made when we listed on the ASX late last year to drill-test the many base metals and gold targets we are identifying across Cajnice, Sockovac and Sinjakovo,” Managing Director Mladen Stevanovic said.
“The success of the rock chip program at Cajnice in March, which delivered us the Gramusovici Prospect, made it an easy decision for Lykos to immediately follow up with a maiden diamond drill campaign,” he added.
Depending on how this initial program goes, Lykos will follow up with a phase two campaign to delineate the entire copper-silver lode and test the depth potential.
LYK shares ended the day trading flat at 27.5 cents.