Lion One Reports Additional High Grade Results from Ongoing Infill Drill Program Including 359.8 g/t Au Over 1.8m Including 1616.0 g/t Au Over 0.4m, And 294.5 g/t Au Over 0.3m From near Surface at Tuvatu, Fiji
Lion One Reports Additional High Grade
Results from Ongoing Infill Drill Program
Including 359.8 g/t Au Over 1.8m Including
1616.0 g/t Au Over 0.4m, And 294.5 g/t Au Over
0.3m From near Surface at Tuvatu, Fiji
North Vancouver, British Columbia--(Newsfile Corp. - January 25, 2022) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to announce
additional results from the infill drill program undertaken in the near-surface portion of the Tuvatu deposit.
This program was designed to further strengthen the database in the portion of the deposit earmarked
for earliest production, from the Company's 100% owned Tuvatu alkaline gold project in Fiji.
-
~6735m of drilling completed in 38 holes since the start of infill program (~85% of the
proposed program completed)
Highlights from near-surface infill drilling include:
TUDDH555
126.62
g/t Au over 0.70m from 133.00-133.70m, including
294.50
g/t Au over 0.30m from 133.40-133.70;
8.25 g/t Au over
2.90m
from 137.60-140.50m, including
28.67
g/t Au over 0.60m from 139.10-139.70m,
15.72
g/t Au over 0.30m from 139.40-139.70m,
9.31 g/t Au over
1.70m
from 145.00-146.70m, including
31.63
g/t Au over 0.40m from 145.90-146.30m
TUDDH557
17.60
g/t Au over
5.0m
from 113.80-118.80m, including
125.50
g/t Au over 0.60m from 115.3-115.9m
35.63
g/t Au over 0.30m from 150.40-150.70m
TUDDH559
14.21
g/t Au over 1.20m from 119.8-121.0m;
6.23
g/t Au over
3.7m
from 142.50-146.20, including
22.44
g/t Au over 0.60m from 143.1-143.7m, and
14.48
g/t Au over 0.30m from 145.6-145.9m
TUDDH562
111.40
g/t Au over 0.40 from 164.7-165.1m (Figure 3B, 3C in previous press release)
TUDDH563
20.41
g/t Au over 0.30 from 13.66-13.96m (Figure 3A in previous press release)
63.26
g/t Au over 0.30 from 52.49-52.79m
68.50
g/t Au over 0.30 from 164.55-164.85m
TUDDH565
35.64
g/t Au over 0.40m from 63.8-64.2m
359.76
g/t Au over
1.80m
from 70.8-72.6m, including
1616.0
g/t Au over 0.40m from 71.1-71.5m (Figures 3-4, this release)
13.34
g/t Au over
1.70m
from 92.9-94.6m, including
42.09
g/t Au over 0.40m from 93.3-93.7m
4.28 g/t Au over
5.10m
from 117.3-122.4m
10.03
g/t Au over 0.60m from 141.9-142.5m, including
17.75
g/t Au over 0.30m from 142.2-142.5m
18.61
g/t Au over 0.70m from 154.8-155.5m
TUG136
16.19
g/t Au over 0.60m from 75.7-76.3m, including
30.97
g/t Au over 0.30m from 76.0-76.3m
4.71 g/t Au over
4.20m
from 77.9-82.1m, including
10.76
g/t Au over 0.30m from 77.9-78.2, and
12.62
g/t Au over 0.6 from 78.5-79.1m
TUG137
16.44
g/t Au over
4.20m
from 106.4-110.6m, including
26.11
g/t Au over 0.60m from 107.6-108.2m, and
22.80
g/t Au over
2.10m
from 108.5-110.6m, which includes
45.35
g/t Au over 0.30m from 109.4-109.7m, and
37.40
g/t Au over 0.30m from 110.0-110.3m
Infill Drilling Program
Multiple bonanza-grade intercepts have been returned from the ongoing near-surface infill/definition drill
program which is aimed at a thorough re-appraisal of the database in portions of the resource
earmarked for earliest production. The current ~8000m infill drill program was initiated in June of 2021
with the aim of infilling areas of low data density within parts of the resource currently categorized as
Inferred. To date, a total of ~6735m of diamond drilling over 38 holes have been completed, with ~15%
of the proposed program remaining. Final results are here reported from a total of 10 holes, 7 of which
were drilled specifically as part of the infill program (TUDDH555-562, 565) and three of which were
drilled as part of the deep program testing the 500 Zone, but which intersected high grade mineralization
in the near-surface (TUDDH563, TUG136, 137).
Figures 1-3 illustrate schematically the location of drill
holes reported here, and mineralized intervals relative to modelled lodes.
The exceptional grades returned from hole TUDDH565 at a downhole depth of ~71.2m, of
1616.0 g/t Au
corresponds to a complex vein of centimetric width at low to moderate angle to core axis, consisting of
coarse, subhedral honey sphalerite, fine skeletal marcasite and coarse visible gold in a groundmass of
amorphous gray quartz.
The vein also contained coarse vugs lined by clear crustiform euhedral quartz
crystals and abundant delicate wire native gold. Figures 4 and 5 show some of the coarse visible gold
intersected at this interval as well as other mineralogical characteristics.
A complete set of results for all
near-surface drill intersections reported here is included as Table 1;
drill hole parameters are included
as Table 2.
Results from deeper drill intersections will be reported in a subsequent news release.
The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill
drilling from surface and underground, 2) deep exploration drilling from surface and underground
targeting lode extensions and additional feeders under the Tuvatu resource. Regional drill programs
requiring access to remote parts of the Navilawa caldera has been interrupted during the wet season,
but will resume in early 2022.
Sergio Cattalani, Lion One's Senior Vice President Exploration, commented, "
Exceptionally high grade
mineralization has been defined in the near-surface portion of the deposit.
High grade mineralization
is showing to be more consistent and appears to form wider zones with good continuity than what had
been previously modelled.
I am increasingly confident that once underground mining is underway, the
average head grade of the ore earmarked for early production will be higher than previously modelled.
The additional data generated by the infill drilling and resampling programs currently underway are
indicating that portions of the orebody return higher grades over multiples of minimum mining widths
that are not defined by the current resource model.
Our objective remains clear: to work toward a near-term modest production start, concomitant with an
aggressive exploration program aimed at the continued expansion of bonanza-grade resources both
near-surface and along defined feeder conduits at greater depths, for the eventual scaled-up
development of a larger and more valuable resource.
"
Figure 1:
Left)
schematic cross-section across the northern part of Tuvatu showing the location of some
infill drill holes, with selected results.
Right)
Plan view of Tuvatu orebody as a block model, showing the
trace of the Tuvatu decline and the location of the vertical section on the left. The different colors
represent ore blocks of different grade forming the various lodes. Note that many of the mineralized
intervals do not correspond with the previously modelled lodes, suggesting the possibility of previously
unrecognized mineralization.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%201.jpg
.
Figures 2, 3:
Left)
schematic cross-sections across the northern part of Tuvatu showing the location
and selected results from some of the drill holes reported here.
Right)
Plan view of Tuvatu orebody as a
block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left.
The different colors represent ore blocks of different grade forming the various lodes.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%202.jpg
.
Figures 2, 3:
Left)
schematic cross-sections across the northern part of Tuvatu showing the location
and selected results from some of the drill holes reported here.
Right)
Plan view of Tuvatu orebody as a
block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left.
The different colors represent ore blocks of different grade forming the various lodes.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%203.jpg
.
Table 1: Drilling Intervals Reported (intervals greater than 3.0 g/t Au cutoff and wider than 2.0m
are bolded)
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
TUDDH-225
(resampled)
52.7
53.7
1.0
9.62
including
52.7
53.4
0.7
14.1
TUDDH-408
(resampled)
83.7
85.7
2
6.12
including
83.7
84.3
0.6
14.2
TUDDH-555
24
24.9
0.9
0.67
118
118.9
0.9
1.41
133
133.7
0.7
126.62
including
133.4
133.7
0.3
294.5
137.6
140.5
2.9
8.25
including
137.6
138
0.4
12.93
and
139.1
139.7
0.6
28.67
which includes
139.1
139.4
0.3
41.61
and
139.4
139.7
0.3
15.72
141.8
143.1
1.3
8.56
including
141.8
142.2
0.4
12.34
and
142.5
143.1
0.6
8.81
145
146.7
1.7
9.31
including
145.9
146.3
0.4
31.63
150.8
151.3
0.5
0.63
TUDDH-556
124
125.2
1.2
3.23
127.3
127.9
0.6
0.9
147
147.4
0.4
0.59
173.4
174
0.6
1.54
176.7
177
0.3
2.46
TUDDH-557
102.7
104.2
1.5
1.02
105.7
112.6
6.9
3.89
including
108
108.6
0.6
26.56
113.8
118.8
5.0
17.6
including
115.3
115.9
0.6
125.5
including
118.2
118.8
0.6
9.69
133.6
134.9
1.3
0.57
144.4
144.8
0.4
2.6
150.4
150.7
0.3
35.63
TUDDH-559
22.6
22.9
0.3
4.39
101
101.9
0.9
1.09
115.7
116.6
0.9
1.18
119.8
121.0
1.2
14.21
131.3
131.6
0.3
5.78
135.9
138.3
1.2
4.09
including
137.7
138.3
0.6
7.42
142.5
146.2
3.7
6.23
including
143.1
143.7
0.6
22.44
and
144.7
145.00
0.3
9.34
and
145.6
145.9
0.3
14.48
155.4
155.7
0.3
2.99
181.1
181.7
0.6
5.38
TUDDH-560
24.4
24.8
0.4
0.62
144.3
144.7
0.4
1.44
TUDDH-562
42.1
42.5
0.4
5.58
129.9
130.3
0.4
3.88
132
132.3
0.3
2.89
158.4
158.8
0.4
3.7
164.7
165.1
0.4
111.4
166.7
167.1
0.4
1.17
218.3
218.6
0.3
1.37
TUDDH-563
13.66
13.96
0.3
20.41
14.86
15.1
0.24
0.83
18.8
19.1
0.3
0.57
21.8
22.4
0.6
5.13
25.2
26.4
1.2
1.58
52.49
52.79
0.3
63.26
58.1
58.5
0.4
6.48
125.25
125.55
0.3
0.58
164.55
164.85
0.3
68.5
300.15
300.65
0.6
1.04
TUDDH-565
45.5
46.1
0.6
0.86
52.8
54.3
1.5
0.52
56.4
57.6
1.2
2.84
59.1
61.5
2.4
1.73
63.8
64.2
0.4
35.64
66.6
67.8
1.2
0.59
70.8
72.6
1.8
359.76
including
71.1
71.5
0.4
1616.0
73.8
74.3
0.5
1.36
75.8
79.4
3.6
2.73
88.7
90.3
1.6
8.52
92.9
94.6
1.7
13.34
including
93.3
93.7
0.4
42.09
99.5
100.1
0.6
1.79
117.3
122.4
5.1
4.28
including
119.4
120.0
0.6
7.22
139.5
140.7
1.2
0.68
141.9
142.5
0.6
10.03
including
142.2
142.5
0.3
17.75
152.4
153.6
1.2
1.37
154.8
155.5
0.7
18.61
TUG-136
3.4
4.0
0.6
0.5
65.5
65.8
0.3
0.59
69.4
69.7
0.3
6.34
75.7
76.3
0.6
16.19
including
76
76.3
0.3
30.97
77.9
82.1
4.2
4.71
including
77.9
78.2
0.3
10.76
and
78.5
79.1
0.6
12.62
and
80.6
80.9
0.3
6.57
and
81.2
81.5
0.3
7.63
102
102.3
0.3
1.89
103.6
103.9
0.3
0.53
TUG-137
5.0
5.7
0.70
0.5
29.3
30.0
0.70
2.32
106.4
110.6
4.20
16.44
including
107.6
108.2
0.60
26.11
which includes
107.6
107.9
0.30
40.65
and including
108.5
110.6
2.10
22.8
which includes
109.4
109.7
0.30
45.35
and also includes
110
110.3
0.30
37.4
161.4
161.7
0.30
1.43
169.3
169.6
0.30
1.97
Table 2: Survey details of diamond drill holes referenced in this release not previously
reported
Hole No
Coordinates (Fiji map grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH555
3920724.8
1876385.7
237.0
239.50
-74
274
TUDDH556
3920725.3
1876384.4
237.0
182.30
-48
285
TUDDH557
3920725.2
1876385.0
237.1
241.00
-64
284
TUDDH559
3920724.8
1876385.7
237.0
188.70
-75
270
TUDDH560
3920723.1
1876385.2
237.0
220.90
-60
240
TUDDH562
3920723.3
1876385.5
237.0
244.20
-70
248
TUDDH563
3920796.3
1876351.1
209.7
875.00
-63
121
TUDDH565
3920779.0
1876396.0
219.8
200.50
-59
253
TUG136
3920759.6
1876459.2
139.1
617.40
-58
151
TUG137
3920759.0
1876459.0
139.1
686.70
-68
163
TUDDH225
3920737.3
1876336.3
222.8
300.25
-60
330
TUDDH408
3920767.2
1876336.5
225
140.6
-65
320
Figure 4:
A)
Photo of a portion of uncut drill core from TUDDH565, with a vuggy quartz vein of
centimetric width at 71.20m depth. This 0.40m sample returned
1616
g/t Au.
B)
Close-up of a portion of
the vein showing subhedral sphalerite, dendritic marcasite and coarse visible gold.
C)
Closer view of
dendritic marcasite clusters suggesting rapid growth and conditions of supersaturation, in a groundmass
of amorphous gray silica.
To view an enhanced version of Figure 4, please visit: