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Yugo Metals Limited (ASX:YUG)

ALERT: Price-sensitive ASX Announcement for YUG
Current share price for YUG : $0.041 -0.049 (-54.44%)+
Announcement
Release
27 May 2026 8:31AM
Price at Release
$0.090
Full Release
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Summary
Yugo Metals Limited has reported a successful initial drilling campaign at the Erak Prospect within their Sinjakovo Project in Bosnia and Herzegovina. The first-ever drilling results indicate a promising gold discovery, with all diamond drillholes intersecting mineralised alteration zones. These zones are characterized by phyllic (silica-sericite-pyrite) alteration and are associated with gold-bearing properties. Notably, drillhole ERDD006 in the eastern part demonstrated a significant alteration width of 34 meters. The drilling also revealed breccia with polymetallic mineralisation, including gold, silver, copper, and antimony, with notable intersections such as 8m at 1.2 AuEq g/t. The company plans to continue drilling to further explore mineralisation extensions and relocate drilling activities to areas with previous high trenching results. The results underscore the potential for further growth of the gold system at Erak.
Key Points
  • Yugo Metals announces gold discovery from first-ever drilling at Erak Prospect.
  • Five diamond drillholes completed, intersecting significant mineralised alteration zones.
  • Prominent phyllic alteration associated with gold-bearing zones.
  • Drillhole ERDD006 showed 34 meters of alteration in the eastern part of Erak.
  • Polymetallic mineralisation includes gold, silver, copper, and antimony.
  • Key intersection: 8m at 1.2 AuEq g/t, including 4m with specific mineral content.
  • Ongoing drilling aims to explore mineralisation extensions.
  • Future drilling to target high previous trenching results for gold.
  • Results confirm potential for significant growth at the Erak gold system.
  • Initial results are promising, with further assays pending.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.