Lion One Reports Latest Results from Its Phase 2 Infill Drill Program from Tuvatu, Fiji, Demonstrating Significant New Mineralization, Including a Bonanza Intercept of 584.07 g/t Au Over 0.30m
Lion One Reports Latest Results from Its
Phase 2 Infill Drill Program from Tuvatu, Fiji,
Demonstrating Significant New Mineralization,
Including a Bonanza Intercept of 584.07 g/t Au
Over 0.30m
North Vancouver, British Columbia--(Newsfile Corp. - May 31, 2022) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to announce
results from ongoing infill drilling at its Tuvatu Alkaline Gold Project in Fiji.
Results for the first 11 holes of Lion One's Phase 2 infill program on Zone 5 of their fully permitted Tuvatu
alkaline gold deposit are here reported.
The results to date indicate significant new intercepts of high- to
bonanza-grade Au mineralization that was not known to occur as part of the existing resource model.
The Phase 2 infill drill program was designed to confirm the location, size, and continuity of the known
mineralized lodes, in a portion of the orebody slated for early production (Figure 1A).
Top Intercepts include:
18.47 g/t Au over 1.20m from 104.7-105.9m, and 584.07 g/t Au over 0.30m from 122.4-
122.7m from TUDDH-586 (new)
24.72 g/t Au over 0.60m from 187.4-188.0m, incl. 43.34 g/t Au over 0.30m from 187.7-188.0m
from TUDDH-580 (new)
25.23 g/t Au over 1.20m from 70.9-72.1m, incl. 78.02 g/t Au over 0.30m from TUG-139
18.77 g/t Au over 2.10m from 118.8-120.9m, incl. 26.07 g/t Au over 1.50m from TUDDH-577
11.95 g/t Au over 2.70m from 55.9-58.6m, incl. 35.91 g/t Au over 0.60m from TUDDH-578
11.18 g/t Au over 1.20m from 153.5-154.7m, incl. 40.05 g/t Au over 0.30m from TUDDH-580
The mineralization reported here is considered to be a highly significant development, representing a
substantive addition of Au mineralization at grades well in excess of the average resource grade,
intersected at relatively shallow levels in the orebody.
As a result, the new high-grade mineralization
defined by the ongoing infill drill program can be expected to substantially enhance the early part the
production stream and hence the immediate economic viability of Tuvatu.
Results of the ongoing infill drill program to date are summarized below in Table 1.
Highlighted in blue on
Table 1 are specific drill intercepts that are outside of the mineralized lodes that make up the existing
resource model.
Each of these additional intercepts has the potential to add width, grade, and continuity
to the resource in this portion of the Tuvatu orebody.
Lion One CEO Walter Berukoff, stated "We are confident that the high-grade intercepts indicated by our
infill programs and the increased drilling density will lead to a more robust resource model overall with
higher localized grades earlier in the production schedule at Tuvatu. Furthermore, when considering the
substantially higher grade near-surface infill results reported here, along with the continuing success of
the deep drilling program, this underscores the significance of Tuvatu as a potentially multi-million ounce,
world-class high-grade Au producer. As we expand our drilling fleet to eight rigs and our laboratory
capacity to 12,000 samples per month, we are well positioned to continue securing impressive results
from all three tiers of our exploration strategy: from ongoing near-surface infill drilling; from extensions of
deep high-grade feeder targets at Tuvatu; and from our pipeline of regional targets in the surrounding
Navilawa caldera".
Since the start of Phase 2 infill drill program in February 2022, Lion One has to date completed
approximately 3,700m out of a planned 8,000m of infill drilling.
This news release reports the results from
approximately 2,375m of drilling, equivalent to approximately 30% of the planned program.
Infill Drilling Program
Two phases of infill drilling have been planned at Tuvatu with the aim of infilling areas within the current
resource and thus augmenting the data density, to further improve the resolution of the geological model
in portions of the deposit scheduled for earliest production. Phase 1 infill drilling was completed over
Zone 2 (Figure 1A) in mid-February 2022, adding over 8,400m of new drill data, including 7,475m of
new drilling and 955m of sampling of previously unsampled historic drill core (see Feb. 23, 2022 News
Release).
This release presents final assay data from the initial 11 drill holes completed as part of the Phase 2 infill
program, which is planned for approximately 8000m of diamond drilling from surface and underground,
and is aimed at upgrading the resource database in Zone 5 of the Tuvatu orebody (Figure 1).
The
program as planned includes 30 holes totalling 5,400m carried out from 4 separate drill stations at
surface, and 34 holes totalling 2,600m carried out from 6 underground drill stations. Phase 2 infill drill
program began February 17, 2022 with drill hole TUDDH-577, and is expected to require 5-6 months of
drilling using three rigs (two from surface and one from underground) to complete.
The results from the initial approximately 2,375m of drilling in Zone 5 (Figure 2), representing
approximately 30% of the planned program total, indicate consistent high-grade to locally bonanza-
grade Au mineralization for known mineralized lodes in this portion of the current resource (Table 1).
Additionally, the results from the initial 30% of the Phase 2 infill program indicates significant new high-
grade mineralization not previously known to occur prior to this program, and therefore not included in
the current resource statement.
Overall, results to date suggest higher-than-expected continuity and widths of mineralization, locally at
grades above the calculated average grade of the deposit. Indeed, the Phase 2 infill program is
confirming, and in certain instances, extending previously modelled lodes in this part of the resource.
Intercepts of exceptionally high-grades (e.g. 584.07 g/t Au in TUDDH-586) are in line with bonanza
results documented from several intercepts from the previously completed Phase 1 infill drill program,
providing further support to the expectation of an overall increase in average grades of the lodes
scheduled for earliest phases of mining.
Numerous mineralized intervals, including the 584.07 g/t Au bonanza-grade intercept in hole TUDDH-
586 as well as 43.34 g/t Au over 0.30m from 187.7-188.0m in hole TUDDH-580, occur fully outside of
existing modelled lodes (Table 1, highlighted), adding to our understanding of the lode geometry, as well
as to the overall inventory of high-grade mineralization slated for early production at Tuvatu.
As per the Phase 1 infill program, numerous strategically located historic holes have also been identified
for resampling, the results of which will be reported in future news releases.
Figure 1: A)
Oblique view looking N060° and down 17° showing the current conceptual mine plan ore
panels (gold) highlighting the location of Zone 2 and Zone 5, the exploration decline (yellow) and the
planned Zone 5 infill drilling program (blue).
The planned drilling consists of 4 surface and 6 underground
drill stations.
B)
Oblique view looking N060° and down 40° showing the UR1 to UR5, URW1A, URW1C,
and URW3 lodes (transparent gray), exploration decline (yellow) and the planned Zone 5 infill drilling
program (blue).
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/125923_lionon2.jpg
Figure 2:
Composite vertical section looking N through Zone 5 at Tuvatu, showing the UR1 to UR5,
URW1A, URW2A, and URW3 lodes (blue labels) and the trace of the infill drilling reported in this release
(yellow traces).
Solid lines are in the section, dotted lines are projected to this section.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/125923_lionon4.jpg
Table 1:
Drilling intervals 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).
Intercepts that are outside of the current geological
model are highlighted in light blue.
Hole ID
From (m)
To (m)
Interval (m)
Grade (g/t Au)
TUDDH-577
7.2
8.1
0.9
1.25
59.1
60.3
1.2
1.13
100.8
101.4
0.6
0.86
118.8
120.9
2.1
18.77
including
118.8
120.3
1.5
26.07
127.5
127.8
0.3
16.30
135.6
136.2
0.6
1.09
138.6
138.9
0.3
24.66
182.2
182.8
0.6
0.65
TUDDH-578
45.4
45.7
0.3
0.72
55.9
58.6
2.7
11.95
including
55.9
56.5
0.6
35.91
and
58.0
58.3
0.3
22.39
64.3
65.2
0.9
0.58
82.3
82.9
0.6
0.77
100.6
101.5
0.9
1.39
TUDDH-579
22.0
22.3
0.3
0.73
126.1
126.4
0.3
2.43
129.7
131.8
2.1
0.94
135.1
135.4
0.3
13.56
140.5
142.3
1.8
2.88
including
140.5
140.8
0.3
11.62
and
142.0
142.3
0.3
5.2
161.2
163.6
2.4
1.78
TUDDH-580
8.0
9.2
1.2
4.53
46.7
47.3
0.6
1.67
81.8
82.4
0.6
0.78
83.6
85.1
1.5
1.48
153.5
154.7
1.2
11.18
including
153.5
153.8
0.3
40.05
157.7
158.6
0.9
0.66
159.5
159.8
0.3
0.66
165.2
167.0
1.8
1.11
including
166.7
167.0
0.3
5.01
173.6
173.9
0.3
0.76
187.4
188.0
0.6
24.72
including
187.4
187.7
0.3
6.12
including
187.7
188.0
0.3
43.34
192.8
196.4
3.6
1.88
including
193.1
193.4
0.3
11.17
including
194.6
194.9
0.3
4.11
TUDDH-581
20.9
21.2
0.3
4.12
81.8
82.4
0.6
0.76
100.4
101.0
0.6
1.56
106.4
107.0
0.6
0.82
168.5
170.0
1.5
4.41
including
168.5
168.8
0.3
8.27
and
168.8
170.0
1.2
3.25
179.3
182.0
2.7
1.32
186.8
187.1
0.3
0.54
206.6
206.9
0.3
3.07
208.4
209.9
1.5
1.91
212.3
213.2
0.9
0.69
226.1
227.9
1.8
2.39
including
227.0
227.3
0.3
7.48
249.8
250.7
0.9
1.38
251.9
252.2
0.3
2.38
307.4
308.9
1.5
1.55
TUDDH-582
47.6
48.5
0.9
3.21
91.8
93.6
1.8
3.81
including
92.4
93.6
1.2
5.22
99.3
102.0
2.7
3.33
including
99.3
100.2
0.9
5.77
TUDDH-583
7.5
8.1
0.6
2.26
46.5
47.1
0.6
1.02
72.0
72.3
0.3
1.48
87.3
88.5
1.2
0.69
96.3
96.9
0.6
2.68
114.0
114.3
0.3
1.62
121.5
122.7
1.2
1.48
126.9
128.7
1.8
1.93
including
128.4
128.7
0.3
4.39
132.0
132.3
0.3
25.32
137.4
137.7
0.3
0.66
138.9
140.1
1.2
3.11
including
138.9
139.2
0.3
7.12
241.2
241.5
0.3
1.48
TUDDH-586
9.3
11.1
1.8
4.28
including
10.2
11.1
0.9
7.91
63.6
64.2
0.6
0.53
67.8
68.4
0.6
1.8
84.6
84.9
0.3
5.95
98.1
98.4
0.3
2.95
104.7
105.9
1.2
18.47
116.7
117.3
0.6
0.55
122.1
122.7
0.6
292.69
including
122.4
122.7
0.3
584.07
127.5
127.8
0.3
1.68
129.3
129.9
0.6
10.74
133.2
133.8
0.6
3.41
141.6
143.7
2.1
1.75
including
142.5
142.8
0.3
7.33
238.5
241.2
2.7
0.95
TUDDH-587
17.2
17.5
0.3
0.69
62.8
63.4
0.6
1.11
76.6
76.9
0.3
1.57
89.5
89.8
0.3
0.59
103.6
103.9
0.3
2.34
146.2
146.5
0.3
4.43
159.1
160.9
1.8
1.66
232.9
233.5
0.6
6.43
including
232.9
233.2
0.3
11.40
234.7
235.9
1.2
4.27
including
235
235.6
0.6
5.42
237.4
238.6
1.2
8.89
TUG-139
17.8
18.1
0.3
1.42
22.0
22.3
0.3
0.82
26.5
26.8
0.3
1.47
28.9
29.2
0.3
1.42
31.0
31.3
0.3
0.75
48.7
49.6
0.9
1.49
54.4
59.2
4.8
4.20
including
54.7
55.0
0.3
5.91
and
55.0
55.3
0.3
12.60
and
55.6
55.9
0.3
7.27
and
55.9
56.2
0.3
5.70
and
57.1
57.4
0.3
15.09
70.9
72.1
1.2
25.23
including
70.9
71.2
0.3
8.96
and
71.2
71.5
0.3
8.32
and
71.5
71.8
0.3
5.00
and
71.8
72.1
0.3
78.02
82.3
82.6
0.3
2.78
91.6
91.9
0.3
1.66
95.5
95.8
0.3
1.84
TUG-142
20.4
20.7
0.3
1.15
29.4
29.7
0.3
1.49
31.2
36.3
5.1
0.65
41.4
42
0.6
1.88
45.3
45.6
0.3
0.69
61.3
63.7
2.4
3.55
including
62.5
63.1
0.6
8.14
additional results pending
Table 2: Survey details of diamond drill holes referenced in this release
Hole No
Coordinates (Fiji map
grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH-577
3920435
1876442
314.0
197.9
-39
268
TUDDH-578
3920520
1876513
348.6
150.3
-59
267
TUDDH-579
3920435
1876513
348.6
239.0
-49
269
TUDDH-580
3920435
1876513
348.6
284.9
-60
265
TUDDH-581
3920435
1876513
348.6
311.6
-70
265
TUDDH-582
3920435
1876442
314.0
120.2
-49
267
TUDDH-583
3920435
1876513
348.6
303.2
-44
289
TUDDH-586
3920435
1876513
348.6
302.3
-55
289
TUDDH-587
3920435
1876513
348.6
256.8
-63
289
TUG-139
3920480
1876411
103.1
123.3
+13
091
TUG-142
3920480
1876411
103.1
85.8
-30
090
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