About the project

The Čajnice licence is located in the east of BiH within Čajniče municipality close to the border with Montenegro. The town of Čajnice is situated immediately to the south of the licence area and easily accessed by tarred road from Sarajevo (120 km to the northwest), Belgrade in Serbia (270 km to the northeast) and Podgorica in Montenegro (200 km to the southeast).

Exploration potential

Ni, Cu, Mo, Zn, Pb Ag, Au, REE

Mineralisation and Deposit Types

Lykos believes that there is potential for discovery of economic copper, lead, and zinc mineralisation at Čajnice. Gold anomalism within the granitic outcrops and elevated REE values within the Permian sediments also offer the potential for new discoveries.

The mineralisation comprises:*

The mineralisation within the licence area comprises a number of vein-hosted deposits intruded into the Permian and Triassic sedimentary rocks. The mineralisation within the veins ranges from Fe dominant to Fe-Cu to Fe-Pb-Zn across the project area in Prospects 1-4 and based on the data available appears dependent on the distance from the Triassic aged amphibole-bearing granites and to a lesser extent the host lithology.

  • Gold mineralisation is also potentially associated with the Triassic aged granites based on heavy minerals concentrates from granite samples taken within Prospect 1 and 2.
  • Recent field work conducted in 2020 also identified elevated rare earth element values within the Permian sandstones in Prospect 5. Further work is required to assess the significance of this.

Historical drilling

Historical exploration identified Fe-Cu(±Sb±Pb±Zn±Au) vein hosted mineralisation contained within the Permian schists and proximal to the Triassic aged granite in the central part of the licence area while the Pb-Zn-(Fe±Cu±Sb) mineralisation appears more distal to the granite and hosted in the Permian and Triassic sediments. Historically the exploration was largely focussed on the iron potential and the area is thus largely under explored for its base metal potential.

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