Yugo Metals (ASX: YUG) has successfully completed its dual listing on the Frankfurt and Dusseldorf stock exchanges, aimed at increasing its exposure to European institutional and retail investors.
The move comes at a time when the company is attracting interest through its ongoing drilling program at the Sinjakovo gold-antimony project in Bosnia-Herzegovina.
Yugo recently raised $3.5 million via a two-tranche placement, with the funds being used on the current Phase 1 diamond drilling program at Sinjakovo that has already completed three holes for approximately 230 metres.
One of these holes has intersected silver-lead-zinc mineralisation 1.8m wide from a depth of 27.7m.
The central hole hit weak mineralisation, while the most western hole intersected a void that the company believes may be an unrecognised medieval mining tunnel.
Further Holes Planned
Yugo is about to commence work on a further two drill holes to test the main target from the same drill pad.
Depending on success from these five holes, which have not been sampled yet, Yugo will move the rig onto the second drilling pad to test the north-west part of the Kovacevac prospect.
The company expects to submit the first samples to ALS Serbia by the end of 2025, with first assay results anticipated in February next year.
Enhanced Project Confidence
Interim chief executive officer Petar Tomašević said the initial scout drilling results had enhanced the company’s confidence in the potential for a significant polymetallic discovery at Sinjakovo, adding that European investors had strongly supported the company’ recent capital raisings.
“The current European investment demand highlights their significant interest for growth opportunities in the base and precious metal sector that Yugo offers.”
“Building on initial encouraging intercepts, we are advancing with drilling along the most favourable trend, with the aim of unlocking further value and moving closer to a successful outcome,” he added.
