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Let ${\left(G_n\right)}_{n\ge 1}$ be a binary linear recurrence sequence that is represented by the Lucas sequences of the first and second kind, which are $\left\{U_n\right\}$ and $\left\{V_n\right\}$, respectively. We show that the Diophantine equation $G_n=B·(g^{lm}-1)/(g^l-1)$ has only finitely many solutions in $n,m\in {\mathbb{Z}}^{+}$, where $g\ge 2$, $l$ is even and $1\le B\le g^l-1$. Furthermore, these solutions can be effectively determined by reducing such equation to biquadratic elliptic curves. Then, by a result of Baker (and its best improvement due to Hajdu and Herendi) related to the bounds of the integral points on...