Leviathan Gold Ltd. (LVX – TSXV, 0GP – Germany) has acquired Foca Metals Corp. (formerly LS Lithium Corp.) through a share exchange agreement dated November 22, 2024. This acquisition secures Leviathan a 100% indirect interest in the Foča Project, a promising exploration site located in Republika Srpska, Bosnia and Herzegovina.
The Foča Project spans 100.7 square kilometers across three active exploration licenses in a region geologically similar to Adriatic Metals’ Vareš Project. Vareš has reported significant Indicated and Inferred Mineral Resources, highlighting the area’s rich mineral potential within the Central Dinaride metallogenic zone of the Western Tethyan Belt.
Leviathan’s exploration targets at Foča include:
- Vrela Prospect: Historical drilling from the 1960s indicated an average thickness of 15 meters of mineralization grading 13.25% Pb+Zn. Recent soil and rock chip sampling confirmed high-grade mineralization extending over 2 kilometers northeast of historic drill sites.
- Barice Prospect: Recent exploration identified massive sulphide mineralization with rock chip assays of up to 4.48% Cu, 110 g/t Ag, 30.2% Pb, and 6.45% Zn. A coherent Pb, Zn, and Cu soil anomaly was also mapped over a 500-meter strike.
Leviathan plans to deploy trenching and Induced Polarization geophysical surveys at both prospects to define high-grade and bulk-tonnage drilling targets.
CEO Luke Norman expressed enthusiasm about the acquisition, highlighting Bosnia’s favorable regulatory environment and the largely underexplored nature of the Central Dinaride Zone. “Despite Adriatic Metals’ success at Vareš and the historic Trepča complex in Kosovo, much of the region remains untouched by modern exploration, creating a significant discovery opportunity,” Norman said.
Leviathan’s Balkan operating experience, combined with recent legal changes in Republika Srpska, offers a unique first-mover advantage in this promising region. With ongoing government and local support, Leviathan is well-positioned to advance the Foča Project and explore its potential for significant silver and base metal discoveries.
