Lion One Drills 4.6 m of 82.28 g/t Gold Near Underground Development at Tuvatu Gold Mine in Fiji
Lion One Drills 4.6 m of 82.28 g/t Gold Near
Underground Development at Tuvatu Gold
Mine in Fiji
North Vancouver, British Columbia--(Newsfile Corp. - September 24, 2026) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company
") is pleased to report significant new
high-grade gold results from 4,370.20 meters of underground infill and grade control drilling at its 100%
owned Tuvatu Alkaline Gold Project in Fiji ("
Tuvatu
").
Top New Drill Results
:
82.28 g/t Au over 4.6 m
(including 302.15 g/t Au over 0.4 m) (TGC-0532, from 72.73 m depth)
169.47 g/t Au over 1.0 m
(including 502.48 g/t Au over 0.3 m) (TGC-0532, from 58.42 m depth)
153.94 g/t Au over 1.1 m
(including 547.05 g/t Au over 0.3 m) (TGC-0535, from 24.3 m depth)
93.94 g/t Au over 1.7 m
(including 350.00 g/t Au over 0.4 m) (TGC-0544, from 60.5 m depth)
285.13 g/t Au over 0.3 m
(TGC-0528, from 89.55 m depth)
186.00 g/t Au over 0.4 m
(TGC-0542, from 108.1 m depth)
19.32 g/t Au over 3.0 m
(including 64.05 g/t Au over 0.6 m) (TGC-0538, from 1.0 m depth)
10.64 g/t Au over 4.9 m
(including 36.45 g/t Au over 0.6 m) (TGC-0515, from 16.8 m depth)
18.13 g/t Au over 2.8 m
(including 46.83 g/t Au over 0.3 m) (TGC-0512, from 127.5 m depth)
14.15 g/t Au over 3.3 m
(including 34.72 g/t Au over 1.2 m) (TGC-0535, from 98.5 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.
The primary target of the drill program is the up-dip and down-dip extensions of the UR lodes in Zone 5.
Drilling was conducted from two near surface underground drill stations — the 1160 drill station and the
1082 drill station. Drilling from the 1160 drill station primarily targeted mineralization up-dip of the 1150
level, whereas the drilling from 1082 drill station primarily targeted mineralization down dip of the 1066
level. These areas represent the uppermost and lowermost areas of active mining in Zone 5. The
Company intersected high-grade mineralization in 30 out of 34 completed drillholes with three additional
drill holes abandoned.
Drill results include multiple very high-grade gold assay results, including
547.05 g/t over 0.3 m, 502.48
g/t over 0.3 m, 350.00 g/t over 0.4 m, 302.15 g/t over 0.4 m, 301.58 g/t over 0.4 m, and 285.13 g/t
over 0.3 m
. Most of the high-grade drill intersects are located within 25 m of underground development
and are anticipated to be incorporated into the mine plan within the next six months. Very high-grade
gold results are not unexpected at Tuvatu. Previous results from Zone 5 include
99.13 g/t over 3.3 m
,
728.56 g/t over 0.7 m
, and
2,749.86 g/t over 0.3 m
.
Lion One President and CEO Ian Berzins stated: "We're very pleased with the new results from our Zone
5 drilling. We are actively drilling both Zone 5 and Zone 2 at Tuvatu, and we continue to intersect
exceptional grades on both sides of the mine. Included in this news release are 8 intersects over 100 g/t
gold, which follows up the record intersect of
715.15 g/t gold over 4.2 m
, which we drilled in Zone 2 and
released last month. These drill results are testament to the potential of the mine as we advance mining
up-dip and down-dip in the near-surface portion of Tuvatu."
Figure 1. Location of the Zone 5 drilling reported in this news release.
Left image: Plan view of the Zone 5 drilling in relation to the
mineralized lodes shown in grey with Tuvatu underground development shown in red. Right image: Section view of the Zone 5 drilling looking
Northeast. The primary target for drilling from the 1160 drill station is mineralization up-dip of level 1150, while the primary target for drilling from the
1082 drill station is mineralization down-dip of level 1066.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/315836_9f50090e341d5a3d_001full.jpg
Zone 5 Drilling
The Zone 5 area of Tuvatu is located along the main decline at Tuvatu and includes the principal north-
south oriented lodes (UR1 to UR3 and URW1 to URW3) and the secondary northeast-southwest
oriented lodes (UR4 to UR8). 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 a
major 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 UR1 and UR2 lodes in
the southern part of the deposit, directly up-dip and down dip of current mine levels. Drilling was
conducted from two underground drill stations and targeted a drill spacing of 12.5 m x 12.5 m. Drilling
from the 1160 drill station targeted a 100 m strike length of the UR lodes up-dip of level 1150, while
drilling form the 1082 drill station targeted a 100 m strike length of the UR lodes down-dip of level 1066.
The current total strike length of the UR2 lode is approximately 620 m, and it remains open along strike
and at depth. 30 out of 34 completed drillholes intersected high grade mineralization, with most of the
drill results located within 25 m of underground development. These areas represent part of the near-
term mine plan and are targeted for production within the next six months. Some intersects are currently
being developed with accesses and drives in preparation for stoping in levels 1048, 1066, 1150 and
1170.
Figure 2. Zone 5 Up-dip drilling with high-grade intercepts highlighted, 3.0 g/t gold cutoff.
Plan view looking down with select high-grade
drill intercepts highlighted. The drill holes shown here primarily targeted mineralization up-dip of the 1150 level. Underground development above level
1120 shown in grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/315836_9f50090e341d5a3d_002full.jpg
Figure 3. Zone 5 Down-dip drilling with high-grade intercepts highlighted, 3.0 g/t gold cutoff.
Section view looking West select high-
grade drill intercepts highlighted. The drill holes shown here primarily targeted mineralization down-dip of the 1066 level. Underground developments
are shown in grey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/315836_9f50090e341d5a3d_003full.jpg
Note on Composite Grades
The drill results reported in this news release are expressed in downhole intervals. Due to local variability
in structural orientation true widths are unknown. Drill holes are oriented perpendicular to mineralization
as much as possible. The minimum mining width at Tuvatu is approximately 1.5 m. In reporting drillhole
intercepts Lion One uses a high-grade composite cut-off of 3 g/t gold with <1 m internal dilution at <3 g/t
gold. Drill hole intervals that are <3 g/t gold are below cutoff and are not included in Figure 2 and 3, nor in
Table 2. Holes TGC-0504 and TGC-0526 reported in Table 1 and Table 2 were drilled in the vicinity of
the 1120 shrink stope which has since been mined and processed. Production results from the 1120
shrink stope will be reported separately.
Competent Person's Statement
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-
101"), Melvyn Levrel, MAIG, Chief 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. Mr.
Levrel is an employee of Lion One Metals and is not independent of the Company.
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. One blank, one field duplicate and one CRM are
inserted every 50 samples. 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 for gold assays. IANZ ISO/IEC 17025:2017 Standard is
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. Minimum sampling width is
0.30 m, and maximum sampling width is 1.20 m for both grade control and exploration diamond core
samples. 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 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 29 important pathfinder elements with an aqua regia digest and ICP-OES finish.
Corporate Note
Further to the announcement on July 14, 2026 in relation to the appointment of Ronan Geoghegan as VP
Corporate Development and Investor Relations, we are providing additional information regarding the
securities held by Mr. Geoghegan. Mr. Geoghegan currently holds 100,000 Common Shares, 334,615
Common Share Purchase Warrants, and 11 convertible debenture units, as well as 300,000 previously
granted Stock Options. In consideration for his services, Mr. Geoghegan will receive the option to
purchase 1,000,000 common shares of the Company ("Stock Options"). The Stock Options have an
exercise price of $0.16 per common share ("Common Share"), an expiry date of July 10, 2031, and the
following vesting schedule: up to one-six, or 166,666 Common Shares on October 10, 2026; up to an
additional one-six, or 166,667 Common Shares on January 10, 2027; up to an additional one-six, or
166,666 Common Shares on April 10, 2027; up to an additional one-six , or 166,667 on July 10, 2027;
up to an additional one-six, or 166,667 Common Shares on April 10, 2028; the remaining one-six, or
166,667 Common Shares on July 10, 2028.
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,
Ian Berzins, Chief Executive Officer, President, and Board Member
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-0492
1876376
3920436
161
168.2
12.7
120.0
TGC-0494
1876377
3920437
159
152.6
-9.3
110.0
TGC-0497
1876376
3920437
160
168.6
-4.6
135.0
TGC-0499
1876377
3920436
161
151.7
17.5
28.8
TGC-0500
1876377
3920436
160
152.5
4.9
100.5
TGC-0504
1876377
3920437
159
143.5
-14.6
110.0
TGC-0507
1876433
3920513
86
96.6
-48.4
106.0
TGC-0508
1876432
3920513
88
81.9
-47.0
112.8
TGC-0511
1876377
3920437
161
142.8
12.3
129.1
TGC-0512
1876431
3920507
87
142.9
-58.0
201.6
TGC-0513
1876377
3920438
160
119.9
5.9
120.1
TGC-0515
1876431
3920507
87
156.7
-49.4
131.7
TGC-0516
1876378
3920438
161
119.7
21.2
90.0
TGC-0517
1876431
3920508
87
129.8
-45.2
89.8
TGC-0518
1876378
3920439
161
100.4
13.7
140.3
TGC-0519
1876432
3920507
88
131.2
-13.6
323.2
TGC-0521
1876377
3920438
160
131.5
6.4
109.6
TGC-0522
1876376
3920436
160
163.5
4.6
125.1
TGC-0524
1876377
3920438
159
132.9
-10.1
11.0
TGC-0525
1876432
3920507
87
132.9
-34.2
101.3
TGC-0526
1876377
3920438
159
132.9
-10.1
96.5
TGC-0528
1876431
3920506
87
155.3
-23.4
122.7
TGC-0529
1876378
3920439
160
109.5
10.6
146.1
TGC-0531
1876375
3920436
160
174.6
8.5
163.3
TGC-0532
1876431
3920506
87
286.4
-56.1
201.0
TGC-0534
1876376
3920436
161
160.2
18.0
115.4
TGC-0535
1876430
3920506
88
170.6
-12.5
113.2
TGC-0536
1876375
3920439
160
142.0
20.0
3.9
TGC-0537
1876377
3920437
161
142.1
20.4
112.0
TGC-0538
1876430
3920506
87
170.8
-26.3
107.6
TGC-0539
1876378
3920440
161
82.3
20.0
130.5
TGC-0542
1876378
3920440
161
81.9
11.2
141.0
TGC-0544
1876378
3920440
161
89.8
20.4
90.7
TGC-0545
1876378
3920439
161
107.7
19.9
84.5
TGC-0547
1876378
3920440
160
92.6
3.9
89.0
TGC-0549
1876378
3920441
161
73.7
20.9
136.9
TGC-0553
1876377
3920437
161
133.6
16.9
120.0
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). Intervals are colour coded based on grade.
10 - 30 g/t gold
>30 g/t gold
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0492
24.4
24.7
0.3
15.21
TGC-0494
No results > 3 g/t Au
TGC-0497
No results > 3 g/t Au
TGC-0499
Hole abandoned
TGC-0500
No results > 3 g/t Au
TGC-0504
70.6
71.4
0.8
19.55
including
70.6
71.0
0.4
30.05
and
71.0
71.4
0.4
9.31
73.3
73.6
0.3
47.87
95.8
96.2
0.4
25.53
TGC-0507
2.5
4.0
1.5
3.09
including
2.5
2.8
0.3
5.47
and
2.8
3.4
0.6
1.36
and
3.4
4.0
0.6
3.64
42.5
43.1
0.6
18.57
45.1
45.6
0.5
14.35
57.3
57.8
0.5
5.91
79.1
79.6
0.5
3.44
81.9
82.5
0.6
21.57
86.2
86.5
0.3
4.80
91.8
92.6
0.8
19.82
including
91.8
92.2
0.4
5.29
and
92.2
92.6
0.4
34.35
TGC-0508
14.5
15.0
0.6
23.76
52.6
55.4
2.8
16.39
including
52.6
53.0
0.4
3.07
and
53.0
53.6
0.6
9.57
and
53.6
54.3
0.6
12.08
and
54.3
54.9
0.6
8.44
and
54.9
55.4
0.5
46.58
60.6
61.0
0.4
5.09
69.7
70.2
0.5
54.57
79.4
80.3
0.9
6.80
TGC-0511
27.7
28.3
0.6
3.82
67.6
67.9
0.3
12.05
81.2
81.6
0.4
13.83
TGC-0512
24.3
26.2
1.9
5.79
including
24.3
24.8
0.5
4.96
and
24.8
25.3
0.5
2.71
and
25.3
25.8
0.5
4.28
and
25.8
26.2
0.4
12.57
28.9
29.3
0.4
3.53
33.0
33.6
0.6
32.84
44.1
44.7
0.6
6.31
51.1
51.7
0.6
4.77
72.1
72.4
0.3
4.10
122.9
123.2
0.3
3.80
127.5
130.3
2.8
18.13
including
127.5
128.1
0.6
12.45
and
128.1
128.6
0.5
23.74
and
128.6
129.2
0.6
16.48
and
129.2
129.6
0.4
12.72
and
129.6
130.0
0.4
6.01
and
130.0
130.3
0.3
46.83
131.5
132.1
0.6
12.76
136.3
138.0
1.7
8.62
including
136.3
136.6
0.3
5.38
and
136.6
137.1
0.5
3.17
and
137.1
137.6
0.5
2.31
and
137.6
138.0
0.4
25.74
158.3
158.9
0.6
9.87
160.2
162.2
2.0
3.46
including
160.2
160.8
0.6
5.81
and
160.8
161.5
0.7
1.45
and
161.5
162.2
0.7
3.45
TGC-0513
38.6
39.1
0.5
46.05
41.7
42.7
1.0
12.02
including
41.7
42.0
0.3
5.63
and
42.0
42.4
0.4
0.22
and
42.4
42.7
0.3
33.74
83.3
83.7
0.4
24.83
93.7
95.1
1.4
28.67
including
93.7
94.0
0.3
5.68
and
94.0
94.3
0.3
1.67
and
94.3
94.7
0.4
87.04
and
94.7
95.1
0.4
16.05
TGC-0515
16.8
21.7
4.9
10.64
including
16.8
17.3
0.5
4.20
and
17.3
18.3
1.0
2.58
and
18.3
18.9
0.6
36.45
and
18.9
19.8
0.9
2.32
and
19.8
20.3
0.5
3.76
and
20.3
21.0
0.7
24.57
and
21.0
21.4
0.4
6.62
and
21.4
21.7
0.3
5.91
34.5
36.1
1.6
5.68
including
34.5
34.8
0.3
12.85
and
34.8
35.4
0.6
2.91
and
35.4
36.1
0.7
4.98
66.1
66.5
0.4
8.50
102.5
103.0
0.5
7.25
107.5
108.0
0.5
21.54
124.4
124.8
0.4
4.26
126.8
127.8
1.0
7.59
including
126.8
127.3
0.5
10.03
and
127.3
127.8
0.5
5.14
TGC-0516
34.8
35.7
0.9
6.85
38.2
39.4
1.2
5.41
41.7
42.2
0.5
3.05
75.7
76.2
0.5
18.47
TGC-0517
36.8
38.3
1.5
4.11
including
36.8
37.3
0.4
4.88
and
37.3
38.3
1.1
3.80
48.0
49.0
1.0
5.16
including
48.0
48.6
0.6
5.46