12th February 2026. Battery, base and precious metals exploration company Yugo Metals Limited (ASX:YUG and FRA, DUS: L71) (Yugo or the Company) is pleased to provide an update on the ongoing drilling program at the Sinjakovo Project in Bosnia-Herzegovina.
Highlights:
- Polymetallic discovery and results received for the first three drillholes at Kovacevac prospect.
- Best result: 1.2m @ 129 g/t Ag + 11.7% Pb + 0.9% Zn from 28.2m drilling depth in drillhole KVDD001. Drilling direction is relatively orthogonal to mineralisation.
- Polymetallic (galena-sphalerite) mineralisation is associated to barite vein gently-dipping to south-west. Drilling results suggest mineralisation is open along strike.
- Drilling is ongoing at Kovacevac prospect.
Yugo’s Executive Director & Interim CEO, Petar Tomašević, commented:
“Our drilling at Kovacevac prospect has had a strong start. Polymetallic high-grade silver-lead-zinc mineralisation was encountered on a first drill program, which is exactly what explorers hope to see in the early stages of a project.
Polymetallic projects like Kovacevac are particularly attractive because they offer exposure to multiple commodities. Silver provides precious metal leverage, while lead and zinc are essential industrial metals with strong demand in batteries, galvanization, and infrastructure. A deposit with all three commodities can be resilient to market swings, as revenue streams are diversified.
The fact that mineralisation remains open along strike suggests that mineral system hasn’t been closed off yet, so further drilling could extend the mineralisation. Kovacevac could be shaping up as a promising polymetallic project.”
Drilling results
Drillhole KVDD001 (the most eastern of three drillholes) has tested the deepest level of barite vein to date and has intersected silver-zinc-lead mineralisation with 1.2m drilling width @ 129g/t Ag + 11.7% Pb + 0.9% Zn from 28.2m depth (including 0.7m @ 218g/t Ag + 20.0% Pb and 1.4% Zn), comprising disseminations and bands of galena and sphalerite. Drilling is performed relatively orthogonal to barite veining.
The central of the three holes (KVDD002) has targeted a somewhat shallower part of barite vein and has intersected weak galena mineralisation over 1.1m drilling width @ 28g/t Ag + 1.0% Pb from 22.4m drilling depth.
Hole KVDD003 has targeted the shallowest north-western part of the target and has intersected a ~2m void at the target depth, possibly entering an unrecognised medieval mining tunnel, and a 1m barite vein afterward carrying traces of polymetallic mineralisation 1.0m @ 16g/t Ag + 0.3% Pb + 0.1% Zn.
The results to date suggest that barite vein is dipping to south-west (with a modest up-plunge to north-west) and that drilling along strike and depth is warranted. Drilling is currently testing the western part of the Kovacevac prospect, with drilling intersecting 4m (~2m true thickness) of brecciated marbly limestone and barite, with galena-sphalerite mineralisation occurring along the foliation and veinlets (see Figure 2).
Figure 1: Drillhole KVDD001 cross section
Figure 2: Unprocessed PQ drillcore from hole KVDD006 (note: hole numbering is not sequential), showing brecciated marbly limestone and barite at the target depth, from ~52m to ~57m, and with sporadic galena-sphalerite mineralisation
Cautionary statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Please refer to Appendix A “Visual Observations”.
This announcement has been authorised for release by the Board of Yugo Metals Limited.
For further information, please contact:
Petar Tomašević
Executive Director & Interim CEO
Yugo Metals Limited
Ph: +61 414 830 540
About Yugo Metals Limited
Yugo Metals Limited (ASX:YUG) is a Perth-based exploration company with projects in Bosnia and Herzegovina. Yugo’ projects are highly prospective for battery and precious metals, which are all located in Europe’s most prospective mining region, the Tethyan metallogenic belt.
Yugo is committed to delivering significant and sustainable shareholder value through advancing its three base and precious metals projects. The Company’s projects are located near existing core infrastructure and transport routes to Europe’s battery manufacturing supply chain.
For more information about our Company, please visit www.yugometals.com
Forward Looking Statements
This announcement contains forward-looking statements which involve several risks and/or uncertainties. These forward-looking statements are expressed in good faith and are believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks and/or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and/or strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions and/or estimates should change and/or to reflect other.
Competent Persons Statement
The information in this announcement that relates to Exploration Results is based on information compiled and conclusions derived by Mr Mladen Stevanovic, a Competent Person who is a Fellow member of the AusIMM (membership number 333579). Mr Stevanovic is a Consulting Geologist of the Company. Mr Stevanovic has sufficient experience that is relevant to the technical assessment of the Mineral Assets under consideration, the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Practitioner as defined in the 2015 Edition of the “Australasian Code for the public reporting of technical assessments and Valuations of Mineral Assets”, and as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Stevanovic consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Previously Reported Information
The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www.asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.