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Leviathan Gold completes acquisition of Significant Mineral Exploration Land Package in Bosnia and Herzegovina
VANCOUVER, British Columbia, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Leviathan Gold Ltd. (“Leviathan”, the “Company”) (LVX – TSXV, 0GP – Germany) is pleased to announ
About this update from Leviathan Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Leviathan Gold Ltd. (“Leviathan”, the “Company”) (LVX – TSXV, 0GP – Germany) is pleased to announce the acquisition (the “Acquisition”) of Foca Metals Corp. (“FMC”) (previously named LS Lithium Corp.) pursuant to a share exchange agreement dated November 22, 2024 (the “Agreement”), among the Company, FMC and the shareholders of FMC (the “FMC Shareholders”), and thereby a 100% indirect interest in the Foča Project (“Foča”, the “Project”), a highly prospective land package in Republika Srpska, Bosnia and Herzegovina. The Company completed the Acquisition of all of the issued and outstanding shares of FMC in exchange for the issuance by the Company to the FMC Shareholders of an aggregate of 9,000,000 common shares of the Company at a deemed price of $0.0525 per share (the “Consideration Shares”). Pursuant to the Acquisition, FMC has become a wholly owned subsidiary of the Company. About the Foča Project As previously reported (press release of November 25, 2024) the Project covers 100.7 square kilometres across three active exploration licenses, includes a series of silver and base metal targets tentatively considered to be of sedimentary exhalative or related origin, and lies approximately 100 kilometres south of the Vareš project of Adriatic Metals plc. Vareš hosts Indicated Mineral Resources of 18.3 Mt at 168 g/t Ag, 1.3 g/t Au, 4.6% Zn, 2.9% Pb, 0.4% Cu and 30% BaSO4 and Inferred Mineral Resources of 2.8 Mt at 75 g/t Ag, 0.5 g/t Au, 2.4% Zn, 1.6% Pb, 0.2% Cu and 13% BaSO41 in rocks of closely comparable age and host lithology to those at Foča - within the so-called Central Dinaride metallogenic zone of the Western Tethyan Belt. Another prominent group of Central Dinaride polymetallic deposits is the Trepča Mines complex in Kosovo, which falls approximately 300 kilometers southeast of the Project at which historic production of 60.5 Mt at 8% Pb+Zn and more than 4,500 tons of Ag2 is documented, and which in the 1980’s reportedly employed 20,000 people, supposedly accounting for 70% of all Yugoslavia's mineral wealth3. A number of other polymetallic mineral occurrences including past and current producing mines fall in closer proximity to Foča, and provide a broader indication of the potential metal endowment of this highly under-explored mineral district, which is al...