Yugo Metals (ASX:YUG) confirms first gold intercepts at Erak Prospect

Yugo Metals has reported initial results from its maiden drilling program at the Erak Prospect within the Sinjakovo Project in Bosnia and Herzegovina, marking the first-ever drill campaign at the site.

The early diamond drilling results have intersected gold-bearing alteration zones and breccia, suggesting the presence of a mineralised system open in multiple directions.

Highlights

• Maiden drill campaign completed with five diamond holes for a total of 632m.
• Intercepts include 4m @ 1.2g/t Au from 101m, 4m @ 1.9g/t Au from 105.1m, and 8m @ 1.2g/t AuEq from 26.1m.
• Breccia zones contain polymetallic mineralisation up to 8m @ 1.2 AuEq g/t, including 4m @ 0.5g/t Au + 40g/t Ag + 0.6% Cu + 0.25% Sb.
• Alteration zones increase in thickness down dip and along strike, with pending results from thicker intervals.
• Drilling ongoing, with further holes planned to test extensions and best trench results.

The Erak Prospect drilling has intersected gold-bearing “phyllic” alteration zones ranging from 3m to 34m in width, overprinted on hydrothermal breccia.

Drillholes ERDD001, ERDD002 and ERDD003 returned early gold intercepts, while ERDD005 and ERDD006 intersected thicker alteration intervals still pending assay results, and the program also identified breccia-hosted polymetallic mineralisation including copper, silver and antimony, reported as gold-equivalent to facilitate comparison and assessment.

Geologically, the mineralisation occurs within layer-parallel breccia overprinted by phyllic alteration, with disseminated gold-bearing pyrite ranging from 5% to 15% abundance.

The system shows a moderate northerly dip at approximately 36°, with drilling oriented to intersect the target plane at high angles, and mineralised intervals intersected to date demonstrate increasing thickness both down dip and along strike, providing scope for further extensions.

The project’s early drill results are complemented by rigorous sampling and assay protocols, with half-core samples collected, pulverised, and analysed at ALS Bor laboratory using Au-AA23 and ME-ICP61 methods, and QAQC controls accounting for approximately 10% of samples.

Metal recoveries are reported at 62.8% for gold, 89.6% for silver, 94.8% for copper, and 93.9% for antimony, with payabilities of 74.2%, 90%, 20.4%, and 11.6% respectively.

Yugo Metals Executive Director and CEO, Petar Tomašević said:

“The first-ever drilling results from Erak have confirmed a genuine gold discovery by the Company. All drillholes to date have intersected the gold-bearing alteration that is still open in all directions, and with thickness being the greatest in the intervals that are yet to return from the lab. The gold system at Erak is set to grow,”

Looking ahead, Yugo Metals plans to complete the remaining drillholes in the western part of Erak and then relocate the rig to the eastern area, including the location of the 61m @ 1.5g/t Au trench.

Receipt of pending assays from ERDD005 and ERDD006 will provide further clarity on the scale and grade of the mineralisation.

The company will then assess extensions along strike to the east and down dip to the north, guided by both the initial drill results and historic trenching, with these steps forming the basis for defining the continuity of the system and informing future exploration priorities.

The combination of early high-quality drill results, progressive assay reporting, and planned step-out drilling positions Yugo Metals to systematically test the Erak Prospect for potentially larger-scale mineralisation within the Sinjakovo Project.

—

Click here to view the latest ASX news.

Subscribe to The Day’s Play for daily ASX insights and capital markets updates.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.