10 June 2023

Positive results of our company – New gold deposit at the Sinjakovo project

By continuing the geological exploration at the Sinjakovo exploration field, specifically at the “Zekilova Kosa” site, and through detailed analysis conducted at globally accredited laboratories, Lykos Balkan Metals has confirmed the presence of new gold geological formations. This site is located northwest of the previously explored “Otomalj” site. 

The research conducted at this site, covering an area of 1.2 km2, unequivocally indicates the presence of gold, with some areas showing concentrations of up to 4.89 grams per ton. 

These new confirmations further increase our company’s interest in the “Zekilova Kosa! site, and further monitoring of the results is undoubtedly geologically justified. 

These activities were carried out as part of a project for detailed geological exploration of copper, iron, and associated metals, approved by the Ministry of Energy and Mining of the Republic of Srpska. In close collaboration and consultation with relevant stakeholders, including representatives of local communities and geological experts, we conducted our geological research strictly adhering to all environmental standards. Geological samples were obtained from geological exploration excavations, in accordance with approved exploration procedures. 

Mladen Lujić, the Executive director of our company, emphasized: 

“These discoveries highlight the exceptional geological potential of the Jezero municipality. We plan to invest additional funds of several tens of million BAM in projects within the territory of the Jezero municipality in 2023. These investments will have a positive impact on the development of the municipality, improve the quality of life for its residents, and enhance economic opportunities not only in the Jezero municipality but also in the Republic of Srpska and Bosnia and Herzegovina.” 

The next step in our exploration will be taken once we obtain the consent of the local self-government, and it will be implemented through the process of exploratory geological drilling. 

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