Lion One Drills 1517.79 g/t Gold over 0.3 M at Tuvatu Gold Mine in Fiji
Lion One Drills 1517.79 g/t Gold over 0.3 M at
Tuvatu Gold Mine in Fiji
North Vancouver, British Columbia--(Newsfile Corp. - December 17, 2024) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF)
("Lion One" or the "Company")
is pleased to report significant new
high-grade gold results from Zone 5 infill and grade control drilling at its 100% owned Tuvatu Alkaline
Gold Project in Fiji.
Assay results are presented here for infill and grade control drilling in the Zone 5 area of Tuvatu. Drill
results include multiple bonanza grade gold assays such as 1517.79 g/t, 513.50 g/t, 113.76 g/t, 137.50
g/t, and 115.25 g/t (see Table 1 below). These results are all located proximal to underground
development in the near-surface portion of the mine. Drilling was focused on the up-dip and down-dip
areas of the UR2 and URW3 lodes. Previous drill results from the Zone 5 area are available in the
June
12, 2024
,
June 5, 2024
, and
December 13, 2023
news releases.
Top New Drill Results:
1517.79 g/t Au over 0.3 m
(TGC-0237, from 42.6 m depth)
513.50 g/t Au over 0.3 m
(TGC-0263, from 60.47 m depth)
67.45 g/t Au over 0.75 m
(TGC-0254, from 90.75 m depth)
17.89 g/t Au over 2.7 m
(including 113.76 g/t Au over 0.3 m) (TGC-0225, from 94.6 m depth)
25.73 g/t Au over 1.8 m
(including 96.78 g/t Au over 0.4 m) (TGC-0251, from 46.9 m depth)
18.42 g/t Au over 2.5 m
(including 62.83 g/t Au over 0.4 m) (TGC-0240, from 44.0 m depth)
30.99 g/t Au over 1.4 m
(including 137.50 g/t Au over 0.3 m) (TGC-0239, from 97.8 m depth)
64.25 g/t Au over 0.6 m
(TGC-0256, from 98.11 m depth)
72.55 g/t Au over 0.5 m
(TGC-0245, from 91.0 m depth)
115.25 g/t Au over 0.3 m
(TGC-0250, from 52.7 m depth)
*All drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 for additional data.
Figure 1. Location of the Zone 5 drilling reported in this news release.
Left image: Plan view of
Tuvatu showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Yellow
dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5
drilling looking approximately east-northeast. Zone 5 drilling is targeting the up-dip and down-dip
extensions of the mineralized lodes above and below current underground developments, shown in red.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_001full.jpg
Table 1. Highlights of composited grade control and infill drill results in the Zone 5 area.
Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t
Au. For full results see Table 3 in the appendix.
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0237
42.6
42.9
0.3
1517.79
TGC-0263
60.5
60.8
0.3
513.50
TGC-0254
90.8
91.5
0.8
67.45
TGC-0225
94.6
97.3
2.7
17.89
including
95.8
97.0
1.2
37.40
which includes
96.1
96.4
0.3
113.76
TGC-0251
46.9
48.7
1.8
25.73
including
46.9
47.6
0.7
59.42
which includes
47.2
47.6
0.4
96.78
TGC-0240
44.0
46.5
2.5
18.42
including
46.1
46.5
0.4
62.83
TGC-0239
97.8
99.2
1.4
30.99
including
97.8
98.1
0.3
137.50
TGC-0256
98.1
98.7
0.6
64.25
TGC-0245
91.0
91.5
0.5
72.55
TGC-0250
52.7
53.0
0.3
115.25
TGC-0247
61.1
62.6
1.5
19.11
TGC-0212
69.5
69.8
0.3
90.50
TGC-0224
25.8
28.5
2.7
9.85
including
25.8
26.4
0.6
27.65
TGC-0259
57.4
57.7
0.3
86.50
TGC-0231
92.8
96.0
3.2
7.59
including
95.0
95.6
0.6
26.34
TGC-0210
61.2
62.7
1.5
15.70
including
62.1
62.4
0.3
57.08
TGC-0228
90.8
91.1
0.3
77.50
TGC-0247
89.1
89.4
0.3
75.86
TGC-0261
97.1
100.2
3.2
7.00
including
97.8
98.1
0.3
26.35
and
98.1
98.4
0.4
15.55
TGC-0263
63.2
65.6
2.4
8.98
including
63.5
64.1
0.6
26.30
TGC-0212
90.3
90.9
0.6
33.92
including
90.3
90.6
0.3
58.64
TGC-0226
28.5
28.8
0.3
63.72
*All drill intersects are downhole lengths
Zone 5 Drilling
The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south
oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and
several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that
converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit
and is interpreted to be the feeder zone at Tuvatu. The system remains open at depth with the deepest
high-grade intersections occurring below 1000 m depth.
The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3
lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly
above and below current underground developments. The drilling targeted a 320 m strike length of the
UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that
of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth.
Zone 5 grade control drilling is being conducted from three underground locations: the 1130 drill cuddy,
the 1135 drill cuddy, and the 1090 drill cuddy. These drillholes are designed to intersect the mineralized
lodes in a perpendicular to sub-perpendicular orientation such that the mineralized intervals approximate
the true width of the lodes. Grade control drilling is being conducted on 10 m centers to provide a
detailed understanding of the geometry and mineralization of the Zone 5 lodes. The purpose of the
current Zone 5 grade control drill program is to enhance the mine model and inform stope design in
advance of mining in the target areas. Highlights of the Zone 5 drilling reported here are shown in Figure
2.
Figure 2. Zone infill and grade control drilling with high-grade intersects highlighted, 3.0 g/t
gold cutoff.
View is looking down with north to the left. The primary areas targeted by the Zone 5 drilling
are the up-dip and down-dip areas of the UR2 and URW3 lodes above and below current underground
developments. These areas are scheduled for near-term mining. Drill holes are oriented perpendicular to
sub-perpendicular to the mineralized lodes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_002full.jpg
Competent Persons Statement
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on
information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company's Senior
Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient
experience that is relevant to the style of mineralisation and type of deposit under consideration, and to
the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43- 101"). Mr Levrel consents to the inclusion in this
report of the matters based on the information in the form and context in which it appears.
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.
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 23 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 & CEO
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 2.
Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0210
1876384
3920430
96
114.6
20.9
85.8
TGC-0211
1876384
3920429
96
140.5
21.6
85.6
TGC-0212
1876381
3920532
131
80.5
14.3
115.3
TGC-0213
1876383
3920628
129
65.0
12.5
125.0
TGC-0214
1876384
3920432
96
106.7
22.1
70.8
TGC-0215
1876380
3920529
130
134.2
6.3
150.0
TGC-0216
1876384
3920431
95
127.7
14.5
81.2
TGC-0217
1876383
3920628
129
60.7
16.4
135.0
TGC-0218
1876384
3920431
95
117.2
14.7
81.0
TGC-0219
1876380
3920529
130
129.2
8.6
140.3
TGC-0220
1876383
3920627
130
80.5
21.8
11.2
TGC-0221
1876384
3920430
96
105.9
22.2
68.1
TGC-0222
1876384
3920429
96
115.8
20.5
11.0
TGC-0223
1876384
3920424
96
154.8
22.9
180.0
TGC-0224
1876380
3920530
130
124.9
4.8
140.0
TGC-0225
1876382
3920627
129
76.4
22.4
115.0
TGC-0226
1876380
3920529
130
125.6
11.1
140.2
TGC-0227
1876384
3920425
94
155.6
-1.8
181.1
TGC-0228
1876380
3920530
130
120.8
8.5
140.0
TGC-0229
1876383
3920627
129
75.9
15.3
11.2
TGC-0230
1876383
3920424
96
170.7
22.4
268.4
TGC-0231
1876383
3920627
129
77.3
15.4
115.1
TGC-0232
1876383
3920627
127
76.2
-49.2
11.2
TGC-0233
1876384
3920627
127
78.0
-48.5
166.4
TGC-0234
1876381
3920531
129
98.3
-19.1
99.8
TGC-0235
1876384
3920627
127
80.0
-36.5
11.1
TGC-0236
1876383
3920627
128
79.8
-36.1
146.0
TGC-0237
1876384
3920428
95
108.1
13.7
82.5
TGC-0238
1876381
3920531
129
90.7
-13.7
10.7
TGC-0239
1876381
3920531
129
90.7
-19.4
130.8
TGC-0240
1876384
3920428
95
99.9
13.0
122.2
TGC-0241
1876383
3920627
129
82.8
19.2
110.0
TGC-0242
1876384
3920428
95
92.0
13.2
95.4
TGC-0243
1876384
3920626
127
95.7
-37.1
140.1
TGC-0244
1876384
3920429
95
84.8
13.7
100.7
TGC-0245
1876381
3920532
129
88.0
-13.6
130.8
TGC-0246
1876384
3920625
127
114.9
-28.7
140.0
TGC-0247
1876384
3920430
94
83.7
-4.0
110.3
TGC-0248
1876378
3920532
129
82.4
-15.3
130.9
TGC-0249
1876384
3920626
127
103.4
-31.1
140.1
TGC-0250
1876384
3920429
94
97.3
-3.8
110.0
TGC-0251
1876384
3920429
94
105.1
-4.4
86.0
TGC-0252
1876381
3920532
129
76.0
-18.3
24.6
TGC-0254
1876380
3920532
129
75.9
-15.1
130.0
TGC-0255
1876384
3920428
94
114.5
-4.1
80.0
TGC-0256
1876381
3920531
128
92.7
-22.1
136.9
TGC-0257
1876384
3920428
94
123.3
-4.4
80.2
TGC-0259
1876384
3920427
94
131.0
-4.7
83.1
TGC-0261
1876380
3920530
129
115.1
-11.2
140.0
TGC-0263
1876384
3920429
94
82.2
-7.8
120.8
Table 3
. Composite results from drillholes reported in this news release (composite grade >3.0 g/t Au)
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0210
40.5
40.8
0.3
6.12
TGC-0210
45.0
46.2
1.2
6.36
TGC-0210
47.4
47.7
0.3
5.45
TGC-0210
61.2
62.7
1.5
15.70
including
61.2
62.1
0.9
4.08
and
62.1
62.4
0.3
57.08
and
62.4
62.7
0.3
9.20
TGC-0210
65.4
65.7
0.3
26.66
TGC-0210
78.6
79.8
1.2
7.59
including
78.6
78.9
0.3
4.46
and
78.9
79.2
0.3
0.82
and
79.2
79.8
0.6
12.54
TGC-0211
63.6
63.9
0.3
9.60
TGC-0211
66.3
66.9
0.6
21.85
including
66.3
66.6
0.3
39.97
and
66.6
66.9
0.3
3.72
TGC-0212
37.1
39.8
2.7
4.56
including
37.1
37.4
0.3
15.20
and
37.4
37.7
0.3
2.58
and
37.7
38.0
0.3
1.89
and
38.0
38.3
0.3
5.06
and
38.3
38.9
0.6
0.13
and
38.9
39.2
0.3
0.24
and
39.2
39.5
0.3
5.90
and
39.5
39.8
0.3
9.87
TGC-0212
41.0
41.6
0.6
3.63
TGC-0212
43.1
44.6
1.5
9.17
including
43.1
44.0
0.9
13.38
and
44.0
44.3
0.3
<0.01
and
44.3
44.6
0.3
5.71
TGC-0212
69.5
69.8
0.3
90.50
TGC-0212
74.7
75.6
0.9
4.69
including
74.7
75.0
0.3
3.65
and
75.0
75.3
0.3
6.36
and
75.3
75.6
0.3
4.06
TGC-0212
86.1
86.7
0.6
11.45
including
86.1
86.4
0.3
7.81
and
86.4
86.7
0.3
15.09
TGC-0212
90.3
90.9
0.6
33.92
including
90.3
90.6
0.3
58.64
and
90.6
90.9
0.3
9.19
TGC-0213
98.0
98.3
0.3
38.50
TGC-0214
45.3
48.0
2.7
4.22
including
45.3
45.6
0.3
3.75
and
45.6
45.9
0.3
5.00
and
45.9
46.2
0.3
0.96
and
46.2
46.5
0.3
1.95
and
46.5
46.8
0.3
15.32
and
46.8
47.1
0.3
2.40
and
47.1
47.4
0.3
1.66
and
47.4
47.7
0.3
3.33
and
47.7
48.0
0.3
3.62
TGC-0215
15.6
15.9
0.3
10.00
TGC-0215
37.8
38.4
0.6
6.20
TGC-0215
97.5
97.8
0.3
10.02
TGC-0215
103.8
104.1
0.3
3.62
TGC-0215
106.5
107.4
0.9
5.97
including
106.5
106.8
0.3
5.02
and
106.8
107.1
0.3
1.55
and
107.1
107.4
0.3
11.35
TGC-0215
109.8
111.0
1.2
13.19
including
109.8
110.1
0.3
15.89
and
110.1
110.4
0.3
22.48
and
110.4
110.7
0.3
6.27
and
110.7
111.0
0.3
8.11
TGC-0215
126.9
127.5
0.6
19.12
including
126.9
127.2
0.3
14.40
and
127.2
127.5
0.3
23.83
TGC-0217
112.7
114.5
1.8
6.14
including
112.7
113.0
0.3
3.02
and
113.0
113.3
0.3
10.87
and
113.3
113.9
0.6
7.23
and
113.9
114.5
0.6
4.24
TGC-0218
43.8
44.4
0.6
9.60
TGC-0218
61.5
62.7
1.2
9.29
including
61.5
61.8
0.3
4.44
and
61.8
62.1
0.3
0.19
and
62.1
62.4
0.3
26.78
and
62.4
62.7
0.3
5.76
TGC-0218
66.3
66.9
0.6
3.50
TGC-0219
31.5
31.8
0.3
4.30
TGC-0219
47.4
47.7
0.3
5.45
TGC-0219
54.3
55.5
1.2
3.55
TGC-0219
58.5
58.8
0.3
5.22
TGC-0219
97.8
98.1
0.3
9.99
TGC-0219
111.9
112.2
0.3
6.35
TGC-0219
126.0
126.3
0.3
11.82
TGC-0221
44.7
47.4
2.7
4.03
including
44.7
45.0
0.3
10.99
and
45.0
45.3
0.3
2.47
and
45.3
45.6
0.3
3.47
and
45.6
45.9
0.3
0.24
and
45.9
46.2
0.3
<0.01
and
46.2
46.5
0.3
5.82
and
46.5
46.8
0.3
6.03
and
46.8
47.1
0.3
0.50
and
47.1
47.4
0.3
6.71
TGC-0223
75.6
76.2
0.6
7.46
TGC-0223
78.6
79.2
0.6
4.90
TGC-0223
91.4
92.0
0.6
7.78
TGC-0224
25.8
28.5
2.7
9.85
including
25.8
26.4
0.6
27.65
and
26.4
27.3
0.9
5.49
and
27.3
27.6
0.3
2.18
and
27.6
27.9
0.3
3.23
and
27.9
28.5
0.6
5.75
TGC-0224
57.2
57.5
0.3
48.09
TGC-0224
91.7
92.9
1.2
8.81
including
91.7
92.3
0.6
7.73
and
92.3
92.9
0.6
9.89
TGC-0224
116.0
116.6
0.6
5.83
TGC-0224
136.1
137.0
0.9
3.33
TGC-0225
93.7
94.0
0.3
4.56
TGC-0225
94.6
97.3
2.7
17.89
including
94.6
94.9
0.3
4.50
and
94.9
95.1
0.2
3.66
and
95.1
95.5
0.4
<0.01
and
95.5
95.8
0.3
1.31
and
95.8
96.1
0.3
19.08
and
96.1
96.4
0.3
113.76
and
96.4
96.7
0.3
9.14
and
96.7
97.0
0.3
7.62
and
97.0
97.3
0.3
3.16
TGC-0226
19.8
20.4
0.6
10.58
including
19.8
20.1
0.3
17.32
and
20.1
20.4
0.3
3.84
TGC-0226
28.5
28.8
0.3
63.72
TGC-0226
41.0
41.3
0.3
9.70
TGC-0226
55.4
56.0
0.6
3.10
TGC-0226
56.3
56.6
0.3
4.68
TGC-0226
58.1
58.4
0.3
18.52
TGC-0226
88.4
88.7
0.3
3.97
TGC-0226
91.7
92.9
1.2
5.75
including
91.7
92.0
0.3
19.58
and
92.0
92.3
0.3
0.07
and
92.3
92.6
0.3
0.12
and
92.6
92.9
0.3
3.22
TGC-0226
104.3
104.6
0.3
5.89
TGC-0226
110.6
110.9
0.3
7.13