Lion One Reports High-Grade Gold Results at Tuvatu Grade Control Drilling in URW1 and Zone 5 Areas Returns Grades over 100 g/t Au
Lion One Reports High-Grade Gold Results at
Tuvatu
Grade Control Drilling in URW1 and Zone 5 Areas Returns
Grades over 100 g/t Au
North Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to report
significant high-grade gold results from ongoing grade control drilling at its 100% owned Tuvatu Alkaline
Gold Project in Fiji.
Assay results are presented here for grade control drilling completed on both the URW1 lode system as
well as the Zone 5 area of the deposit, which encompasses the upper portion of lodes UR1, UR2, UR3,
UR4, URW2, URW3, URW1A, and UR2A (Figure 1). As reported on
May 18, 2023
, initial mining of the
URW1 lode system has already commenced and grade control drilling is being completed in advance of
mining. The Zone 5 area of the deposit is scheduled for mining in early 2024 and thus the grade control
drilling in this area is being conducted in anticipation of future mining, as well as to increase the
knowledge of the deposit in that area. Additional high-grade intersections peripheral to both the URW1
and the Zone 5 areas are also included in this release as part of the grade control program.
Highlights of new grade control drilling:
7.14 g/t Au over 21.6 m
(including 18.61 g/t Au over 5.1 m) (TGC-0042, from 73.6 m depth)
52.05 g/t Au over 2.1 m
(including 345.3 g/t Au over 0.3m) (TGC-0042, from 118.0 m depth)
23.11 g/t Au over 3.6 m
(including 125.31 g/t Au over 0.3 m) (TGC-0040, from 65.4 m depth)
19.43 g/t Au over 3.3 m
(including 80.87 g/t Au over 0.6 m) (TGC-0051, from 49.5 m depth)
21.15 g/t Au over 2.7 m
(including 67.59 g/t Au over 0.6 m) (TGC-0047, from 123.3 m depth)
9.39 g/t Au over 4.2 m
(including 67.30 g/t Au over 0.3 m) (TGC-0050, from 26.7 m depth)
10.13 g/t Au over 3.9 m
(including 38.58 g/t Au over 0.6 m) (TGC-0043, from 66.3 m depth)
33.99 g/t Au over 0.9 m
(including 100.89 g/t Au over 0.3 m) (TGC-0045, from 62.1 m depth)
78.03 g/t Au over 0.3 m
(TGC-0052, from 40.2 m depth)
Grade control drilling is being conducted on 5-10 m centers and is designed to provide a much higher
resolution of the lode arrays than compared to infill drilling, which is being conducted on approximately
20 m centers. This increased resolution provides a much better understanding of the geometry and
mineralization of the lodes and helps to optimize mine development and extraction. The grade control
drilling program is currently on schedule and the results to date confirm the local understanding of the
URW1 and Zone 5 geological models.
Figure 1. Plan View of the Main Tuvatu Deposit with Reported Grade Control Drilling.
Plan view
image illustrating the location of the most recent grade control drillholes in relation to the Tuvatu lode
system. Grade control holes are shown in black, currently modelled mineralized lodes are shown in light
grey, the main decline is shown in red, and the historical exploration decline in blue. Previous grade
control, infill and exploration drillholes are not shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_3d3cc54d143c3b7b_001full.jpg
URW1 Grade Control Drilling
The URW1 lode system consists of narrow, high-grade to locally bonanza-grade vein arrays and vein
swarms that strike approximately N-S and dip sub-vertically to steeply east. Current modelling suggests
that there are multiple separate lodes within the URW1 lode system. The first two of these lodes, URW1a
and URW1b, are currently being mined. The URW1 lode system has a current strike length of
approximately 300 m in the N-S direction, and a vertical extent of approximately 300 m.
A total of 52 grade control holes have been completed to date in the grade control drill program. Results
from the first 36 drillholes (TGC-0001 to TGC-0036) were reported on
April 25, 2023
, and the next 16
drillholes (TGC-0037 to TGC-0052) are reported here. Ten of the most recent grade control drillholes
targeted the URW1 area. Figure 2 shows the location of the most recent drillholes in relation to the
URW1a and URW1b lodes, as well as to the main Tuvatu decline. Grade control drilling on the URW1
lode system has been conducted from underground from both the main decline and the historical
exploration decline, and has been designed to target an 80 m strike section within the overall 300 m
strike length of the URW1 system.
Figure 2. Plan View of URW1 Lode System.
Plan view image illustrating the location of the most
recent grade control holes in relation to the URW1 lode system. The URW1 lode system consists of
multiple separate lodes, two of which are highlighted here; URW1a in purple and URW1b in green. The
remaining URW1 lodes are shown in brown. The main decline is shown in red, the historical exploration
decline in blue, and the grade control drillholes in black.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_3d3cc54d143c3b7b_002full.jpg
Figure 3. Long Section View of URW1 Lode System.
Long section view showing recent high-grade
drill intercepts of URW1 with URW1a highlighted in pink and URW1b highlighted in green. All other
URW1 lodes are shown in brown. Composite intervals with grades between 3 and 10 g/t Au are shown
in yellow, intervals with grades over 10 g/t Au are shown in red. Image is looking north.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_3d3cc54d143c3b7b_003full.jpg
Figure 4. Example URW1 Drill Core.
LEFT: TGC-0040 at 67.3 m depth. Monzonite-hosted stockwork-
style veining with a narrow high-grade silica vein containing coarse grained visible gold. RIGHT: TGC-
0042 at 91.60 m depth. Vuggy silica vein with narrow bleached alteration halo in monzonite. Width of
core is 4.76 cm in each photo.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_liononefigure4.jpg
Zone 5 Grade Control Drilling
The Zone 5 area of the Tuvatu deposit consists of the upper portion of a series of closely spaced lode
systems. The lode systems targeted by the most recent grade control drilling in Zone 5 are the UR1,
UR2, and URW3 lodes. These three lodes are located just east of the historical exploration decline,
strike approximately N-S, and dip sub-vertically to steeply east, similar to the URW1 lodes. As currently
modelled, the UR1, UR2, and URW3 lodes have vertical extents ranging from approximately 700 m to
approximately 900 m, and strike lengths ranging from 300 m to 600 m. All three of the lodes are open
both along strike and at depth.
A total of six Zone 5 grade control drillholes are included in this report. These are the first six grade
control drillholes to target the Zone 5 area and they follow upon the initial results from an ongoing infill drill
program in the area. Figure 5 shows the location of these drillholes in relation to the UR1, UR2, and
URW3 lodes, as well as to the historical exploration decline. Grade control drilling in the Zone 5 area has
been conducted from the historical exploration decline and has been designed to target a 60 m strike
section within the overall 300 m to 600 m strike length of these lodes.
Figure 5. Zone 5 Grade Control Drilling in Relation to Targeted Zone 5 Lodes.
Image shows the
Zone 5 grade control holes in relation to the targeted UR1, UR2, and URW3 lodes. These lodes are
slightly concave with URW3 on the inside (left side on image), closest to the exploration decline, and
UR1 on the outside. UR1 is shown in pink, UR2 in green, and URW3 in blue. The historical exploration
decline is shown in bright blue, and the grade control drillholes are partially visible in black within the
circle.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_3d3cc54d143c3b7b_007full.jpg
Figure 6. Zone 5 Grade Control Intercepts.
Section view facing north, showing a 60 m slice of lodes
UR1, UR2, and URW3 within Zone 5. Composite intervals with grades between 3 and 10 g/t Au are
shown in yellow, while intervals with grades over 10 g/t Au are shown in red and purple.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_3d3cc54d143c3b7b_008full.jpg
Figure 7. Examples of Zone 5 Drill Core.
LEFT: UR2 lode in TGC-0049 at 35.15 m depth. Coarse
grained honey sphalerite and pyrite in variable light to dark grey quartz vein with narrow potassic
alteration halo. RIGHT: URW3 lode in TGC-0050 at 29.6 m depth. Abundant coarse honey sphalerite
rimmed by fine grained sooty pyrite +/- galena and narrow potassic alteration halo, within a larger zone
of stockwork style mineralization. Width of core is 4.76 cm in each photo.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/169899_liononefigure7.jpg
Table 1. Highlights of composited drill results in the URW1 area.
Only new grade control drilling
results are included here. For previous results see news release from
April 25, 2023
. For full results see
Table 3 in the appendix.
Hole ID
From
To
Interval (m)
Au (g/t)
TGC-0039
77.4
78.3
0.9
8.37
TGC-0039
101.7
102.9
1.2
7.18
including
102.3
102.6
0.3
15.64
TGC-0040
30.3
31.5
1.2
4.7
TGC-0040
51.3
53.1
1.8
12.63
including
51.9
52.5
0.6
27.05
TGC-0040
65.4
69
3.6
23.1
including
66
66.3
0.3
85.87
and
67.2
67.5
0.3
125.31
and
68.4
68.7
0.3
13.93
and
68.7
69
0.3
46.89
TGC-0040
82.5
82.8
0.3
64.65
TGC-0041
16.8
19.8
3
1.52
TGC-0042
47.4
51
3.6
3.96
including
50.7
51
0.3
31.99
TGC-0042
52.8
54.6
1.8
11.82
including
53.7
54
0.3
64.24
TGC-0042
60
63
3
5.52
including
61.8
63
1.2
11.1