Lion One Drills 142.66 g/t Gold over 2.2 m from Underground at Tuvatu Gold Mine in Fiji
Lion One Drills 142.66 g/t Gold over 2.2 m from
Underground at Tuvatu Gold Mine in Fiji
North Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF)
("Lion One" or the "Company
") is pleased to report significant new
high-grade gold results from 2,194.70 meters of underground infill and grade control drilling at its 100%
owned Tuvatu Alkaline Gold Project in Fiji ("
Tuvatu
"). The drilling is focused on the Ura lode system
which is currently being mined.
All drilling was conducted from near surface underground workings. The Company intersected high-
grade mineralized structures in 18 holes. Most of the drill holes did not exceed 130 m in length and most
of the high-grade drill intercepts are located within 50 m of current underground workings. Drill results
include multiple bonanza grade gold assays such as
142.66 g/t over 2.2 m, 489.52 g/t over 0.4 m,
168.95 g/t over 0.5 m, 189.15 g/t over 0.3 m, and 179.95 g/t over 0.3 m
.
The Ura lode system is currently being mined from both the 1095 level and the 1116 level of the mine.
The primary targets for the Ura drill program are the areas of the Ura system scheduled for near term
mining up dip of the 1116 level and down dip of the 1095 level. Mining up dip of the 1116 level will be
conducted through conventional shrinkage stoping. Work on this stope has already begun. The 1116 up-
dip stope is steeply dipping and will be mined over a strike length of 100 m, with narrow mining widths of
approximately 1.5 m. This stope encompasses numerous high-grade gold drill results, including the
168.95 g/t gold over 0.5 m
intercept noted above, which is located 20 m above the 1116 level within
the planned stope.
The Ura system remains open at depth and is largely untested below the currently modeled lodes. The
system is a prime target for resource expansion and upgrade given the high-grade drill results, the
underground access already in place, and the lack of drilling down-dip. The drilling reported here
represents the first systematic drill program designed to target the Ura system. Much of this drilling is
located outside the current resource. Drilling is ongoing and is being conducted from two underground
drill stations: the 1095 drill station and the 1116 drill station.
Lion One Chairman Walter Berukoff commented: "We're very pleased with the results from the Ura drill
program. The Ura system is a developing target that represents an excellent opportunity both to expand
our resource and to add tonnes to our immediate mine plan. The Ura lodes are high-grade structures,
and we expect to be mining the areas targeted by this drill program in the next three to six months."
Highlights of New Drill Results
:
142.66 g/t Au over 2.2 m
(including 328.50 g/t Au over 1.0 m) (TGC-0378, from 13.79 m depth)
489.52 g/t Au over 0.4 m
(TGC-0389, from 31.1 m depth)
168.95 g/t Au over 0.5 m
(TGC-0396, from 68.78 m depth)
25.87 g/t Au over 2.3 m
(including 59.24 g/t Au over 0.8 m) (TGC-0396, from 55.7 m depth)
189.15 g/t Au over 0.3 m
(TGC-0380, from 76.78 m depth)
179.95 g/t Au over 0.3 m
(TGC-0391, from 149 m depth)
30.16 g/t Au over 1.5 m
(including 81.27 g/t Au over 0.4 m) (TGC-0389, from 50.9 m depth)
31.74 g/t Au over 1.4 m
(including 52.27 g/t Au over 0.6 m) (TGC-0392, from 41.1 m depth)
21.55 g/t Au over 1.9 m
(including 67.05 g/t Au over 0.3 m) (TGC-0384, from 18.94 m depth)
41.57 g/t Au over 1.0 m
(including 128.64 g/t Au over 0.3 m) (TGC-0384, from 38.64 m depth)
26.79 g/t Au over 1.5 m
(including 69.27 g/t Au over 0.5 m) (TGC-0366, from 4.6 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.
Figure 1. Location of the Ura drilling reported in this news release.
Left image: Plan view of the
Ura drilling in relation to the Ura lodes shown in purple and other mineralized lodes shown in grey, with
Tuvatu underground development shown in red. Right image: Section view of the Ura drilling looking
NNE, approximately along strike of the Ura1 and Ura3 lodes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_001full.jpg
Ura Lode System
The Ura lode system was discovered during the initial development of the mine decline in late 2022 and
was initially modelled as a single lode. It is now understood to be a system of lodes, with at least three
separate lodes already identified (Ura1, Ura2, and Ura3). The Ura system remains largely untested. The
system extends to surface and is open at depth. It is closed to the north by the Coreshed fault, while to
the south it intersects and is likely offset slightly by the Cabex fault. The drilling reported here represents
the first systematic drill program designed to target the Ura system.
Three separate lodes have so far been identified in the Ura system; the Ura1, Ura2, and Ura3 lodes, all
three of which are narrow high-grade structures with bonanza-grade gold intersections frequently
associated with chalcedonic silica and roscoelite - mineralization characteristic of high-grade alkaline
gold systems. The Ura1 and Ura3 lodes dip subvertically to the west and strike approximately 200° to the
SSW. The Ura2 lode strikes approximately 205° to the SSW and dips at approximately 45° to the west.
The Ura2 lode intersects the Ura1 lode slightly below the 1116 level while the Ura3 lode is located
between the Ura2 and Ura1 lodes, intersecting the Ura2 lode between the 1095 and 1116 levels. All
three lodes have current total strike lengths of approximately 220 m each and remain open both at depth
and to the South beyond the Cabex fault.
The drilling reported in this news release was conducted from two underground drill stations; the 1095
and 1116 drill stations. The drilling targeted areas of the Ura system directly up-dip and down-dip of the
1095 and 1116 levels, with particular focus on the Ura1 and Ura3 lodes. Drilling is being conducted on a
12.5 m grid to provide a detailed understanding of the geometry and mineralization in advance of
mining. These areas are scheduled for mining in the near term and are anticipated to be added to the
mine plan within the next two to six months.
The Ura system is largely untested and much of the drilling reported in this news release targeted areas
outside the current resource. The Ura system is a prime target for resource expansion. Very limited
drilling has been conducted below the current underground workings and initial analysis indicates that
the system extends well below current levels. The deepest high grade intersect reported in this news
release, 179.95 g/t gold over 0.3 m, is located approximately 90 m below current workings. This
represents an additional four to five levels of mineralization below current mine levels, with strong
potential for mineralization to continue further at depth (Figure 3).
Figure 2. Ura drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff, plan view.
Plan
view looking down. The drill holes shown here primarily targeted areas of the Ura lodes scheduled for
near-term mining above and below the 1095 level. Ura lodes show in purple, underground workings in
grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_002full.jpg
Figure 3. Ura drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff, section view.
Section view looking NNE. Limited drilling has been conducted on the Ura system below the 1095 level.
High grade gold mineralization has been intersected 90 m below the current underground workings and
the system remains open at depth. Ura lodes shown in light purple, underground workings in grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/245955_a6eee1fa04d9da2f_003full.jpg
Competent Person's Statement
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-
101"), Melvyn Levrel, MAIG, Senior Geologist for Lion One Metals, is the Qualified Person for the
Company and has reviewed and approved the technical and scientific content of this news release.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in
conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical
assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods. The Lion
One geochemical laboratory is accredited under the IANZ ISO/IEC 17025:2017 Standard - the
international standard for testing and calibration of laboratories.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is
split by Lion One personnel on site, with half core samples sent for analysis and the other half core
remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered
to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab
to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish.
Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is
considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in
Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where
applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach
and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through
Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite
of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with
new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The
Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the
Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the
entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration
targets.
On behalf of the Board of Directors,
Walter Berukoff, Chairman & President
Contact Information
Email:
Phone: 1-855-805-1250 (toll free North America)
Website:
www.liononemetals.com
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or
accuracy of this release
This press release may contain statements that may be deemed to be "forward-looking statements"
within the meaning of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward-looking information. Generally, forward-
looking information may be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words
and phrases, or by the use of words or phrases which state that certain actions, events or results may,
could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals
Limited's current beliefs and is based on information currently available to Lion One Metals Limited
and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include,
but are not limited to, the actual results of exploration projects being equivalent to or better than
estimated results in technical reports, assessment reports, and other geological reports or prior
exploration results. Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity, performance, or achievements of
Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied
by such forward-looking information. Such risks and other factors may include, but are not limited to:
the stage development of Lion One Metals Limited, general business, economic, competitive,
political and social uncertainties; the actual results of current research and development or
operational activities; competition; uncertainty as to patent applications and intellectual property
rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals;
changes in legislation, including environmental legislation, affecting mining, timing and availability of
external financing on acceptable terms; not realizing on the potential benefits of technology;
conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals.
Although Lion One Metals Limited has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should
not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake
to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 1.
Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0364
1876283
3920814
120
304.3
-7.2
106.0
TGC-0366
1876284
3920812
121
266.2
18.2
85.0
TGC-0368
1876283
3920812
121
283.3
18.1
81.0
TGC-0369
1876283
3920814
121
313.2
14.7
86.3
TGC-0371
1876283
3920815
120
318.6
-6.7
94.0
TGC-0372
1876283
3920818
120
335.7
-10.2
180.4
TGC-0374
1876283
3920815
120
291.6
-38.3
174.6
TGC-0376
1876283
3920815
119
291.7
-44.5
112.0
TGC-0378
1876182
3920778
98
99.2
-40.0
80.2
TGC-0380
1876285
3920814
122
291.1
-49.4
121.2
TGC-0381
1876182
3920778
98
99.0
-81.0
16.1
TGC-0382
1876182
3920779
99
78.6
-14.8
62.3
TGC-0384
1876182
3920779
99
64.4
-17.3
74.4
TGC-0385
1876283
3920815
119
303.0
-37.4
105.0
TGC-0386
1876182
3920779
98
63.5
-46.8
110.7
TGC-0388
1876283
3920815
119
302.6
-43.9
113.1
TGC-0389
1876182
3920780
99
53.5
-13.2
101.2
TGC-0390
1876182
3920780
99
52.7
-35.9
111.0
TGC-0391
1876283
3920815
119
303.1
-50.1
231.5
TGC-0392
1876183
3920778
99
110.7
-19.2
58.2
TGC-0396
1876283
3920811
121
249.2
16.3
90.5
Table 2
. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au,
with <1 m internal dilution at <3.0 g/t Au).
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0364
0.0
0.7
0.7
3.05
50.3
51.9
1.6
11.47
including
50.3
50.9
0.6
25.78
and
50.9
51.4
0.5
0.26
and
51.4
51.9
0.5
5.52
TGC-0366
1.7
2.2
0.5
12.58
4.6
6.1
1.5
26.79
including
4.6
5.1
0.5
69.27
and
5.1
5.8
0.7
4.45
and
5.8
6.1
0.3
3.80
7.3
9.0
1.7
5.05
including
7.3
7.9
0.6
5.50
and
7.9
9.0
1.1
4.81
10.8
11.6
0.8
5.43
including
10.8
11.1
0.3
3.63
and
11.1
11.6
0.5
6.60
20.2
22.0
1.8
12.27
including
20.2
21.4
1.2
16.14
and
21.4
22.0
0.6
4.54
26.9
27.7
0.8
8.86
34.2
34.7
0.5
5.32
45.6
46.2
0.6
23.86
54.7
55.0
0.3
3.07
56.1
56.5
0.4
44.93
TGC-0368
20.7
21.0
0.3
8.43
39.5
40.0
0.5
3.57
44.8
45.4
0.6
6.86
50.7
51.7
1.0
3.97
including
50.7
51.2
0.5
3.97
and
51.2
51.7
0.5
3.97
75.7
76.4
0.7
3.11
TGC-0374
110.9
111.2
0.3
21.79
TGC-0376
77.9
79.3
1.5
5.47
including
77.9
78.3
0.5
9.95
and
78.3
79.3
1.0
3.46
90.5
90.8
0.4
5.33
TGC-0378
12.1
12.4
0.3
3.49
13.8
16.0
2.2
142.66
including
13.8
14.3
0.5
5.77
and
14.3
14.8
0.5
2.57
and
14.8
15.1
0.3
0.17
and
15.1
16.0
1.0
328.50
23.3
24.8
1.5
8.46
including
23.3
23.7
0.4
21.28
and
23.7
24.1
0.4
0.39
and
24.1
24.8
0.7
6.12
29.4
29.7
0.3
10.02
TGC-0380
0.0
0.5
0.5
15.86
72.8
73.2
0.4
21.05
76.8
77.1
0.3
189.15
TGC-0381
14.2
15.4
1.2
7.47
TGC-0382
15.2
15.5
0.3
46.28
18.1
18.5
0.4
9.98
20.2
20.6
0.4
71.69
31.0
31.8
0.8
33.39
including
31.0
31.5
0.5
25.25
and
31.5
31.8
0.3
48.03
33.0
33.4
0.4
3.12
34.6
36.1
1.5
5.99
including
34.6
35.0
0.4
4.71
and
35.0
35.3
0.3
13.71
and
35.3
35.6
0.3
3.40
and
35.6
36.1
0.5
4.07
TGC-0384
18.9
20.8
1.9
21.55
including
18.9
19.3
0.3
29.99
and
19.3
19.7
0.5
2.13
and
19.7
20.0
0.3
67.05
and
20.0
20.3
0.3
0.16
and
20.3
20.8
0.5
19.84
22.0
22.6
0.6
4.59
including
22.0
22.3
0.3
4.09
and
22.3
22.6
0.3
5.08
38.6
39.6
1.0
41.57
including
38.6
39.0
0.4
4.28
and
39.0
39.3
0.3
0.60
and
39.3
39.6
0.3
128.64
TGC-0385
71.4
72.4
1.0
18.55
including
71.4
71.7
0.3
6.55
and
71.7
72.1
0.4
0.05
and
72.1
72.4
0.3
57.69
78.3
80.0
1.7
4.88
including
78.3
78.7
0.4
3.50
and
78.7
79.4
0.7
0.05
and
79.4
79.7
0.3
13.75
and
79.7
80.0
0.3
8.74
92.9
93.2
0.3
24.86
TGC-0386
10.0
14.3
4.4
4.73
including
10.0
10.4
0.4
16.48
and
10.4
11.0
0.7
<0.01
and
11.0
11.3
0.3
1.52
and
11.3
12.5
1.2
3.65
and
12.5
12.8
0.3
<0.01
and
12.8
13.1
0.3
1.09
and
13.1
14.3
1.2
7.36
TGC-0388
0.0
0.6
0.6
3.48
TGC-0389
31.1
31.5
0.4
489.52
50.9
52.4
1.5
30.16
including
50.9
51.3
0.4
81.27
and
51.3
52.0
0.7
2.91
and
52.0
52.4
0.4
26.72
85.9
86.2
0.3
4.04
TGC-0390
14.7
15.1
0.4
7.70
59.1
59.6
0.5
6.76
81.0
81.4
0.4
21.76
84.5
85.1
0.6
3.00
85.7
86.2
0.5
3.69
99.1
99.4
0.3
4.43
101.6
101.9
0.3
3.28
TGC-0391
0.0
0.6
0.6
3.61
76.9
78.1
1.2
10.40
including
76.9
77.5
0.6
7.91
and
77.5
78.1
0.6
12.89
96.9
97.3
0.4
39.15
113.0
113.3
0.3
3.72
149.0
149.3
0.3
179.95
TGC-0392
14.0
14.4
0.4
5.32
24.6
27.8
3.2
11.99
including
24.6
25.0
0.4
18.68
and
25.0
25.6
0.6
5.97
and
25.6
26.3
0.7
34.65
and
26.3
27.2
0.9
0.05
and
27.2
27.8
0.6
5.01