Lykos Metals Cuts Sockovac Tenement by 77%, Extends Jezero Permit to 2028
Lykos Metals Limited narrows its Sockovac project tenement while securing an extended exploration permit for Jezero, positioning itself for focused growth in Bosnia and Herzegovina.
- Sockovac tenement application reduced from 44 km² to 10 km²
- Jezero exploration permit extended to March 2028
- Surface trenching at Jezero reveals 61m at 1.5 g/t gold
- Ongoing discussions with Bosnia’s Ministry of Energy and Mining
- Exploring acquisitions and capital raising to strengthen portfolio
Focused Tenement Strategy at Sockovac
Lykos Metals Limited (ASX: LYK) has announced a strategic refinement of its Sockovac (Petrovo) project footprint in Bosnia and Herzegovina. After consultations with the Government, the company agreed to reduce its tenement application from 44 square kilometres to a more concentrated 10 square kilometres. This smaller area still encompasses the primary drill targets, allowing Lykos to concentrate its exploration efforts on the most promising zones.
The move follows the expiration of government response deadlines and reflects a pragmatic approach to navigating regulatory processes in a complex jurisdiction. Lykos remains optimistic about securing the tenement and is actively engaging with advisors at the Ministry of Energy and Mining to advance the application.
Jezero Project Secures Permit Extension
In parallel, Lykos has secured an extension of the exploration permit for its Jezero project until March 4, 2028. Jezero is notable for its epithermal gold and polymetallic mineralisation potential, with recent trenching revealing a significant 61-meter interval grading 1.5 grams per tonne gold. These results underscore the project's prospectivity and provide a solid foundation for future exploration planning.
The company is currently evaluating its next steps at Jezero, balancing ongoing exploration with broader portfolio considerations.
Broader Growth and Capital Initiatives
Beyond Bosnia, Lykos Metals is actively scouting for complementary acquisitions in tier 1 jurisdictions to diversify and enhance its asset base. This strategic expansion aims to build shareholder value by tapping into globally competitive mining regions.
To support these ambitions, the company is also exploring capital raising opportunities to bolster its financial position. This dual focus on asset growth and financial strength signals a proactive stance in a challenging market environment.
Positioning in Europe’s Mining Heartland
Lykos’s projects lie within the Tethyan metallogenic belt, one of Europe’s most prospective mining regions, with proximity to established infrastructure and battery manufacturing supply chains. This geographic advantage could prove critical as demand for battery and precious metals intensifies globally.
With competent technical leadership and ongoing government engagement, Lykos Metals is positioning itself to unlock value from its Bosnian assets while preparing for broader growth opportunities.
Bottom Line?
Lykos Metals’ refined focus and permit extension set the stage for targeted exploration and strategic expansion in 2025.
Questions in the middle?
- Will the Bosnian government approve the reduced Sockovac tenement application?
- What are Lykos Metals’ timelines and plans for capital raising?
- Which tier 1 jurisdictions is the company targeting for acquisitions?
