FMC (FMC) GlobeNewswire News Room·2024-11-25 15:13Core Viewpoint - Leviathan Gold Ltd. has entered into a share exchange agreement to acquire 100% of LS Lithium Corp., which will be renamed Foca Metals Corp., thereby gaining a 100% indirect interest in the highly prospective Foča Project in Bosnia and Herzegovina [2][14][15] Project Overview - The Foča Project encompasses a land area of 100.7 square kilometers across three exploration licenses, targeting silver and base metals, and is located approximately 100 kilometers south of Adriatic Metals' Vareš project [3][14] - Historical drilling records indicate an average mineralized thickness of 15 meters at a grade of 13.25% Pb+Zn at the Vrela Prospect, with recent rock chip sampling returning values of up to 347 g/t Ag, 10.1% Pb, and 40% Zn [6][14] Geological Context - The Foča district is situated in the Central Dinaride metallogenic zone, characterized by a geological succession of Palaeozoic basement and overlying Triassic and Jurassic-Cretaceous rocks [16][17] - The region has a history of significant mineral production, notably from the Trepča Mines complex in Kosovo, which produced 60.5 million tons at an average grade of 8% Pb+Zn [4][14] Exploration Potential - Recent soil sampling has identified continuous base metal anomalies extending over 2 kilometers beyond historic drilling areas, indicating the potential for larger mineralization [6][14] - Key targets include the Vrela Prospect and the Barice Prospect, with the latter showing massive sulphide mineralization and rock chip assays returning grades of up to 4.48% Cu, 110 g/t Ag, 30.2% Pb, and 6.45% Zn [7][14] Strategic Advantages - Changes to the Law on Geological Exploration in Republika Srpska are viewed as mining-friendly, enhancing land availability and providing a first-mover advantage in a largely unexplored area [8][14] - The acquisition positions Leviathan to leverage its team's experience in the Balkan mineral systems, particularly in Bosnia, to advance exploration efforts [15][14]