Lion One Reports 19.60m at 21.16 G/t Au Including 16.20m at 25.28 G/t Au in Drillhole TUDDH-608, Expanding the TUG-141 High- Grade Zone at Tuvatu, Fiji
Lion One Reports 19.60m at 21.16 G/t Au
Including 16.20m at 25.28 G/t Au in Drillhole
TUDDH-608, Expanding the TUG-141 High-
Grade Zone at Tuvatu, Fiji
North Vancouver, British Columbia--(Newsfile Corp. - September 15, 2022) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to announce
the results from drillhole TUDDH-608 a direct follow-up to the TUG-141/TUDDH-601 high-grade zone
discovery at its fully permitted Tuvatu Alkaline Gold Project in Fiji.
TUDDH-608 intersected:
19.60m at 21.16 g/t Au from 594.5-614.1m
, which includes a zone of
16.20m at 25.28 g/t Au
from 596.7-612.9m.
The dip of this hole at this depth was approximately 60° equating to a
true horizontal width of 11.85m.
TUDDH-608 was drilled from surface at an azimuth of approximately N090°E, aimed at intersecting the
TUG-141/TUDDH-601 high-grade zone at a high angle to determine the true width of the high-grade
zone at this location.
Figure 1 show the trace of TUDDH-608 and its location relative to the current interpretation of the TUG-
141/TUDDH-601 high-grade dilation zone, and indicates that TUDDH-608 intersected high-grade Au
mineralization approximately 20m north of subvertical hole TUDDH-601, and 15m below the discovery
hole TUG-141.
The trace of the currently drilling TUG-147 drillhole, designed to intersect the high-grade
mineralized zone an additional 90 to the north of TUDDH-608 is also shown on Figure 1.
TUG-147 is
expected to cross the target rocks in the next 7-10 days.
Figure 2 includes some photos of the mineralization intersected by hole TUDDH-608. All results >0.5 g/t
Au are summarized below in Table 1.
Lion One Sr. Vice-President of Exploration Sergio Cattalani, stated "This is yet another exceptional set
of results from the ongoing drilling of the high-grade zone defined by the previous drill holes TUG-141
and TUDDH-601.
Our current interpretation of this portion of the 500 Zone feeder is that of a wide zone
of dilation associated with the interplay of major structural corridors (UR1 and UR4) and the main
lithological contact between monzonite and andesite that has the potential to extend for tens to hundreds
of meters both vertically and along the NS direction.
True widths exceeding 10m at the narrower apex of
this dilational zone suggest a significant increase in gold ounces once this zone has been adequately
drilled off, and this, independent of the rest of the extensive vertical 500 zone feeder that is known to
exceed 1100m in vertical extent.
We will continue to expand this critical zone of high-grade
mineralization with ongoing drilling both from surface as well as from the underground decline."
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Figure 1:
Oblique views looking N320° and down 45° (
A
) and looking N060° and down 20° (
B
) of a
100m thick horizontal slice of the UR1-UR4 high-grade mineralized zone.
Yellow trace is the projected
trace of TUG-147 (in progress).
A
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B
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C
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D
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E
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F
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Figures 2:
Photos from TUDDH-608 drill core, as follows:
A
) 571.5m, 17.03 g/t Au;
B
) 601.9m, 23.21
g/t Au;
C
) 599.5m, 108.31 g/t Au;
D
) 606.5m, 54.54 g/t Au;
E
) 611.8m, 45.02 g/t Au;
F
) close-up of cut
core from photo E showing VG.
Table 1:
Drilling intervals for diamond drill hole TUDDH-608 returning >0.5 g/t Au (intervals > 3.0 g/t Au
cutoff are shown in red, and intervals >9.0 g/t Au or longer than 1.2m are bolded).
Hole ID
From (m)
To (m)
Interval (m)
Grade (g/t Au)
TUDDH-608
38.0
38.6
0.6
1.03
263.8
264.4
0.6
0.71
285.1
285.7
0.6
0.69
493.6
493.9
0.3
3.07
503.2
510.0
6.8
2.45
Incl.
506.7
507.3
0.6
10.49
511.2
515.7
4.5
1.45
517.8
518.1
0.3
1.08
519.3
523.2
3.9
1.49
557.1
557.7
0.6
9.08
Incl.
557.1
557.4
0.3
11.64
Incl.
557.4
557.7
0.3
6.51
559.2
559.8
0.6
3.02
571.4
572.6
1.2
9.41
Incl.
571.4
572.6
0.6
17.02
576.5
577.4
0.9
0.51
594.5
618.2
19.6
21.16
Incl.
596.7
597.9
1.2
85.09
Incl.
597.9
598.6
0.7
9.42
Incl.
598.6
598.9
0.3
8.38
Incl.
598.9
599.2
0.3
11.44
Incl.
599.2
599.5
0.3
6.98
Incl.
599.5
599.8
0.3
36.39
Incl.
599.8
600.4
0.6
108.31
Incl.
600.4
600.7
0.3
21.69
Incl.
600.7
601.7
1.0
13.54
Incl.
601.7
602.2
0.5
23.39
Incl.
602.2
602.5
0.3
0.72
Incl.
602.5
603.1
0.6
80.01
Incl.
603.1
603.7
0.6
7.05
Incl.
603.7
604.0
0.3
11.97
Incl.
604.0
604.6
0.6
3.09
Incl.
604.6
605.2
0.6
2.93
Incl.
605.2
606.0
0.8
1.41
Incl.
606.0
606.6
0.6
54.53
Incl.
606.6
607.2
0.6
11.99
Incl.
607.2
607.8
0.6
8.30
Incl.
607.8
608.4
0.6
29.56
Incl.
608.4
609.3
0.9
1.34
Incl.
609.3
609.6
0.3
24.31
609.6
610.2
0.6
2.61
Incl.
610.2
610.8
0.6
10.85
Incl.
610.8
611.1
0.3
7.54
611.1
611.4
0.3
2.90
Incl.
611.4
612.1
0.7
45.02
Incl.
612.1
612.9
0.8
13.31
612.9
613.8
0.9
0.54
613.8
614.1
0.3
1.87
616.1
618.2
2.1
4.25
Incl.
616.1
616.7
0.6
11.72
670.2
670.5
0.3
0.97
Table 2: Survey details of diamond drill holes referenced in this release.
Previously released
drill holes are not included here.
Hole No
Coordinates (Fiji map
grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH-608
1876280
3920472
286.51
678.1
-64
089
TUG-147
1876435
3920584
116
in progress
-75
099
Qualified Person
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-
101"), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the
Company and has reviewed and is responsible for the technical and scientific content of this news
release.
QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in
conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond
drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel
on site. Samples are delivered to and analysed at the Company's geochemical and metallurgical
laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion
One's lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations.
All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to
80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish.
Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric
method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and
repeated until a result is obtained that is within 10% of the original fire assay run.
For samples with
multiple fire assay runs, the average of duplicate runs is presented. Lion One's laboratory can also assay
for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry
(ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous
samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and
Au-GRA22 where applicable). ALS also analyses for 33
pathfinder elements by HF-HNO3-HClO4 acid
digestion, HCl leach and ICP-AES (method ME-ICP61).
About Lion One Metals Limited
Lion One's flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project,
located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold
mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the
entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system.
Lion One's CEO Walter Berukoff leads an experienced team of explorers and mine builders and has
owned or operated over 20 mines in 7 countries.
As the founder and former CEO of Miramar Mines,
Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for
shareholders.
On behalf of the Board of Directors of
Lion One Metals Limited
"
Walter Berukoff
"
Chairman and CEO
For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email:
Website:
www.liononemetals.com
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Although Lion One Metals Limited has attempted to identify important factors that could cause actual
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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.
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