Lion One Drills 198.84 g/t Gold over 1.4 m in Near-Mine Exploration at Tuvatu Gold Mine in Fiji
Lion One Drills 198.84 g/t Gold over 1.4 m in
Near-Mine Exploration at Tuvatu Gold Mine in
Fiji
North Vancouver, British Columbia--(Newsfile Corp. - February 19, 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 3,312.5 meters of near mine exploration and infill drilling at its 100% owned
Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on the West Zone target west of the Tuvatu
Gold Mine.
The West Zone is located approximately 300 m to the west of the main Tuvatu deposit, in close proximity
to existing mine infrastructure. Drilling was conducted from two surface drill pads and consisted of
resource infill and expansion drilling with the purpose of bringing the West Zone into the long term mine
plan for Tuvatu. High-grade mineralized structures were intersected in 14 drill holes. Drill results include
multiple bonanza grade gold assays such as
896.00 g/t, 306.78 g/t, 264.55 g/t, and 178.55 g/t gold
over narrow widths of 0.3 m
. All high-grade gold results were intersected between 30 m and 150 m
depth from surface. The West Zone is hypothesized to have a separate feeder system from Tuvatu and
represents a prime target for near-mine resource expansion at Tuvatu. Bonanza grade gold results are
not uncommon at the West Zone, with previous drill results including
105.20 g/t over 2.1 m and 102.38 g/t
over 1.2 m
(see news release dated October 1, 2024). The West Zone drill program is ongoing.
Lion One Chairman and CEO Walter Berukoff commented: "We're very pleased with the new results
from our West Zone drill program. The West Zone is an excellent near mine expansion target. It is readily
accessible from existing infrastructure and it consistently returns high grade results from near surface
drilling. We look forward to adding the West Zone to our long-term mine plan at Tuvatu."
Highlights of New Drill Results
:
198.84 g/t Au over 1.4 m
(including 896.00 g/t Au over 0.3 m) (TUDDH-764, from 34.17 m depth)
61.24 g/t Au over 2.0 m
(including 264.55 g/t Au over 0.3 m) (TUDDH-773, from 200 m depth)
306.78 g/t Au over 0.3 m
(TUDDH-773, from 213 m depth)
35.79 g/t Au over 1.7 m
(including 178.55 g/t Au over 0.3 m) (TUDDH-773, from 182 m depth)
6.68 g/t Au over 4.4 m
(TUDDH-758, from 102.81 m depth)
31.00 g/t Au over 1.0 m
(including 67.00 g/t Au over 0.3 m) (TUDDH-758, from 75.5 m depth)
13.76 g/t Au over 1.9 m
(including 29.28 g/t Au over 0.3 m) (TUDDH-763, from 86.2 m depth)
15.17 g/t Au over 1.5 m
(including 27.99 g/t Au over 0.4 m) (TUDDH-762, from 75.55 m depth)
23.60 g/t Au over 0.9 m
(TUDDH-774, from 48 m depth)
61.58 g/t Au over 0.3 m
(TUDDH-759, from 62.6 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 West Zone drilling reported in this news release.
Left image: Plan view
of the West Zone drilling in relation to the mineralized lodes shown in grey and Tuvatu underground
development shown in red. Right image: Section view of the West Zone drilling looking east.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/241399_88e5f21a847f48e8_001full.jpg
West Zone
The West Zone is located approximately 300 m to the west of the main Tuvatu deposit. It is modelled as
a series of mainly east-west oriented lodes dipping steeply to the south. High grade gold has been
sampled at surface in the West Zone and the area is coincident with a steeply dipping CSAMT gradient.
Given the steeply dipping nature of the mineralized lodes both at Tuvatu and at the West Zone, and given
the horizontal distance between the two systems, it is unlikely that they are fed by the same feeder zone.
It is therefore hypothesized that there is a separate feeder zone located at depth below the West Zone,
which would be distinct from the very high-grade Zone 500 feeder zone at Tuvatu.
The drilling reported here is focused on the near-surface portion of the West Zone system and consists
predominantly of infill drilling in areas of low drill density. The purpose of the program is to increase
understanding of the near-surface structure and mineralization of the West Zone. The objective is to bring
the West Zone into the long-term mine plan at Tuvatu, and the current drill program will help inform that
process. Given the proximity of the West Zone to existing surface infrastructure, a second portal may be
opened to provide direct underground access to the West Zone. Alternatively, an underground access
drive could be developed from Tuvatu. The high-grade results reported here not only serve to further
define the resource, but also to help determine which development option is preferred.
Figure 2. West Zone drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff.
Section
view looking east. High-grade gold mineralization is intersected near surface in the West Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/241399_88e5f21a847f48e8_002full.jpg
Figure 3. Approximate location of the West Zone in relation to the Tuvatu plant and
infrastructure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/241399_88e5f21a847f48e8_003full.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 has been reviewed and approved 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 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 & 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 1.
Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TUDDH-757
1875838
3920802
141
139.5
-28.7
182.0
TUDDH-758
1875837
3920802
141
143.4
-51.5
201.5
TUDDH-759
1875837
3920802
141
150.3
-43.5
153.6
TUDDH-762
1875837
3920801
142
166.8
-8.1
106.5
TUDDH-763
1875837
3920802
141
165.1
-29.9
280.0
TUDDH-764
1875836
3920802
142
185.4
-21.1
200.0
TUDDH-765
1875836
3920802
141
180.4
-42.7
290.0
TUDDH-766
1875836
3920802
140
182.5
-50.1
280.0
TUDDH-769
1875836
3920803
141
184.9
-60.5
218.5
TUDDH-771
1875835
3920801
141
198.2
-30.1
14.4
TUDDH-772
1875835
3920802
141
198.3
-31.3
230.6
TUDDH-773
1875972
3920693
211
310.4
-57.2
350.0
TUDDH-774
1875836
3920802
141
199.7
-48.2
170.4
TUDDH-775
1875835
3920803
141
205.1
-58.8
134.9
TUDDH-776
1875834
3920802
141
218.1
-30.0
230.0
TUDDH-777
1875973
3920695
211
346.5
-56.7
270.1
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)
TUDDH-757
40.1
40.4
0.3
6.72
47.4
47.7
0.3
12.55
59.0
60.1
1.1
12.39
including
59.0
59.4
0.4
14.83
and
59.4
59.8
0.4
11.74
and
59.8
60.1
0.4
10.62
67.6
68.0
0.5
21.05
72.3
73.2
0.9
9.47
TUDDH-758
75.5
76.5
1.0
31.00
including
75.5
75.8
0.3
15.59
and
75.8
76.2
0.3
13.20
and
76.2
76.5
0.3
67.00
80.7
81.0
0.3
24.29
85.0
85.4
0.4
7.66
93.5
93.9
0.4
47.45
101.5
102.1
0.6
4.86
including
101.5
101.8
0.3
5.43
and
101.8
102.1
0.3
4.29
102.8
107.3
4.4
6.68
including
102.8
103.2
0.3
3.29
and
103.2
103.5
0.3
2.87
and
103.5
103.8
0.3
4.85
and
103.8
104.1
0.3
-0.01
and
104.1
104.5
0.5
3.60
and
104.5
105.0
0.5
9.41
and
105.0
105.3
0.3
9.43
and
105.3
105.7
0.5
9.36
and
105.7
106.1
0.4
10.99
and
106.1
107.3
1.2
7.76
110.4
110.8
0.4
4.46
142.3
143.5
1.2
3.27
including
142.3
143.1
0.8
3.35
and
143.1
143.5
0.4
3.10
162.3
162.7
0.5
3.08
TUDDH-759
62.6
62.9
0.3
61.58
115.3
116.2
0.9
4.15
124.0
125.0
1.0
4.03
including
124.0
124.4
0.4
4.28
and
124.4
124.7
0.3
1.99
and
124.7
125.0
0.3
5.72
126.9
127.5
0.6
8.70
151.7
152.5
0.8
3.20
TUDDH-762
33.5
33.9
0.4
4.30
59.5
60.4
0.9
10.60
including
59.5
59.8
0.3
20.89
and
59.8
60.4
0.6
4.80
71.5
72.9
1.4
5.26
including
71.5
71.8
0.3
3.86
and
71.8
72.2
0.5
6.05
and
72.2
72.5
0.3
0.08
and
72.5
72.9
0.4
9.89
75.6
77.0
1.5
15.17
including
75.6
75.9
0.3
14.68
and
75.9
76.3
0.4
27.99
and
76.3
76.7
0.4
11.62
and
76.7
77.0
0.3
3.31
82.6
83.3
0.7
8.92
including
82.6
82.9
0.4
13.47
and
82.9
83.3
0.4
4.50
TUDDH-763
62.0
62.5
0.5
7.08
82.8
83.1
0.3
18.76
84.2
85.1
0.9
3.62
including
84.2
84.5
0.3
3.02
and
84.5
84.8
0.3
3.79
and
84.8
85.1
0.3
4.04
86.2
88.1
1.9
13.76
including
86.2
86.6
0.4
29.28
and
86.6
87.1
0.6
6.02
and
87.1
87.5
0.4
27.34
and
87.5
87.8
0.3
2.05
and
87.8
88.1
0.3
4.87
93.7
94.1
0.4
12.20
146.4
146.7
0.4
3.13
147.1
147.5
0.4
4.46
187.5
188.0
0.5
6.64
TUDDH-764
34.2
35.5
1.4
198.84
including
34.2
34.5
0.3
896.00
and
34.5
34.8
0.3
0.28
and
34.8
35.1
0.4
0.04
and
35.1
35.5
0.4
3.72
147.5
148.2
0.8
10.29
including
147.5
147.9
0.4
14.73
and
147.9
148.2
0.4
5.22
TUDDH-765
45.2
46.2
1.0
7.68
including
45.2
45.6
0.4
3.53
and
45.6
45.9
0.4
5.78
and
45.9
46.2
0.3
14.78
167.6
168.0
0.4
5.22
TUDDH-766
52.4
52.7
0.4
15.23
55.8
56.1
0.3
3.35
246.8
247.5
0.7
3.82
TUDDH-769
79.6
80.0
0.4
15.48
84.6
84.9
0.4
4.85
85.8
86.1
0.3
5.33
TUDDH-772
38.2
38.7
0.5
4.76
39.3
39.7
0.4
3.55
182.1
182.4
0.3
6.16
TUDDH-773
182.0
183.7
1.7
35.79
including
182.0
182.3
0.3
6.25
and
182.3
182.6
0.3
178.55
and
182.6
182.9
0.3
2.15
and
182.9
183.4
0.5
0.36
and
183.4
183.7
0.3
15.24
190.0
191.3
1.3
9.48
including
190.0
190.3
0.3
16.32
and
190.3
190.7
0.4
0.01
and
190.7
191.0
0.3
11.99
and
191.0
191.3
0.3
12.76
192.6
192.9
0.3
3.37
200.0
202.0
2.0
61.24
including
200.0
200.3
0.3
7.05
and
200.3
200.6
0.3
32.79
and
200.6
200.9
0.3
81.03
and
200.9
201.2
0.3
18.02
and
201.2
201.7
0.5
2.89
and
201.7
202.0
0.3
264.55
203.3
204.2
0.9
18.48
including
203.3
203.6
0.3
13.76
and
203.6
203.9
0.3
3.66
and
203.9
204.2
0.3
38.02
213.0
213.3
0.3
306.78
TUDDH-774
48.0
48.9
0.9
23.60
56.0
56.3
0.3
9.65
TUDDH-775
83.9
84.4
0.5
5.91
TUDDH-776
46.5
46.8
0.4
16.47
48.3
48.7
0.4
6.80
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