Lykos Metals Limited was incorporated on 6 May 2021 and has agreed to acquire 100% of each of the Sockovac Project, the Sinjakovo Project and the Cajnice Project, all of which are located in Republika Srpska, Bosnia and Herzegovina and which are summarised below:
- Sockovac Project: prospective for nickel, cobalt, copper, gold, silver, lead and zinc. The project was subject to historical drilling and surface exploration in the 1960s-1970s and more recent soil and rock chip sampling and reconnaissance in 2021.
- Sinjakovo Project: prospective for copper, cobalt, gold, iron, lead, silver and barite. The project was the subject of small-scale historical underground mining in the 19th century, with surface exploration in the mid-20th century and more recent soil and rock chip sampling and reconnaissance in 2021.
- Cajnice Project: prospective for copper, gold, lithium, rare earth elements, lead, zinc and silver. The project was subject to historical exploration in the mid-20th century and more recent rock chip sampling and reconnaissance in 2020-2021.
The three projects have a long history of mineral discovery and extraction but remain almost completely unexplored by modern geological exploration methods. The historical data that has been collated by the Company’s management team points to significant exploration potential, in particular for the key battery metals needed for the worldwide energy transition, as well as precious and other base metals.
It is anticipated that LYK will list on the ASX during October 2021.
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