February 2 (SeeNews) - Bosnia and Herzegovina's Lykos Balkan Metals (LBM), a subsidiary of Australia-based Lykos Metals Limited, said on Thursday it has discovered gold deposits in Jezero municipality.
Geological research carried out by LBM and its subsidiary SNK Metali found gold deposits on different lithological units at a location in Jezero, LBM said in a press release.
The concentration of gold reaches 27.5 grams per tonne in an area of about 60 meters, which shows there is a very high potential for continued geological research at the location, LBM said.
The company also said it expects to obtain additional funding of 60 million marka ($33.7 million/30.7 million euro) to continue geological exploration in Jezero in 2023.
(1 euro = 1.95583 marka)