Lion One Starts Mechanized Production at Tuvatu, Drills 1.2 M of 393.01 g/t Gold
Lion One Starts Mechanized Production at
Tuvatu, Drills 1.2 M of 393.01 g/t Gold
North Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) -
Lion One Metals Limited
(TSXV:
LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to report the start of
mechanized production at Tuvatu and reports significant new high-grade gold results from Zone 5 infill
and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.
Mechanized production mining has commenced at Tuvatu. The first remote bogging at Tuvatu occurred
on May 16
th
, and the first long hole stope blast occurred on May 18
th
. Both are also firsts for the country
of Fiji. This is a major milestone for the company as it represents the transition from predominantly
development mining to predominantly production mining. The processing plant can now also sustainably
process over 400 TPD, which is above the plant's name plate capacity of 300 TPD. The increased
throughput is possible due to the successful implementation of operational improvements and
debottlenecking initiatives completed by the mill team.
Assay results are also presented here for infill and grade control drilling in the Zone 5 area of Tuvatu. Drill
results include multiple bonanza grade gold assays such as 1568.55 g/t, 215.86 g/t, 143.95 g/t, and
134.68 g/t (see Table 1 below). These results are all located proximal to underground development in the
near-surface portion of the mine. Drilling was focused on two locations; to the north and south of the
Cabex fault, which is a carbonate healed, deposit scale structure. The primary targets for these drillholes
were the downdip and southern extensions of the UR2 and URW3 lodes. Previous drill results from the
Zone 5 area are available in the
December 13, 2023
,
November 2, 2023
, and
August 10, 2023
news
releases.
Highlights:
First mechanized production mining at Tuvatu
First ever remote bogging at Tuvatu on May 16
th
First ever long hole firing at Tuvatu on May 18
th
Mill operations increased from 300 TPD to 400 TPD
Top new drill intersects:
393.01 g/t Au over 1.2 m
(including 1568.55 g/t Au over 0.3 m)
215.86 g/t Au over 0.6 m
49.85 g/t Au over 1.2 m
(including 63.35 g/t Au over 0.3 m)
14.98 g/t Au over 3.9 m
(including 143.95 g/t Au over 0.3 m)
26.59 g/t Au over 1.8 m
(including 90.85 g/t Au over 0.3 m)
36 new drill holes reported (30 underground, 6 surface)
4930.7 m of new drilling reported
*All drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 for additional data
Figure 1. Location of Zone 5 drilling reported in this news release.
Left image: Plan view of Tuvatu
showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. The approximate
location of the Cabex fault at the 1120 level is shown in light blue. Zone 5 drilling is divided into North of
Cabex and South of Cabex programs. Yellow dashed square represents the area shown in the right
image. Right image: Oblique view of Zone 5 drilling looking northeast. The Cabex Fault is modelled in
pale blue, striking ESE and dipping SSW.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/211748_19a03de954442a42_001full.jpg
Table 1. Highlights of grade control and infill drill results in the Zone 5 area.
Composites are
calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full
results see Table 3 in the appendix.
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0163
24.9
26.1
1.2
393.01
including
25.8
26.1
0.3
1568.55
TUDDH-709
252.2
252.8
0.6
215.86
TGC-0173
98.7
99.9
1.2
49.85
TGC-0171
103.2
107.1
3.9
14.98
including
105.3
106.5
1.2
42.42
which includes
106.2
106.5
0.3
143.95
TGC-0179
101.1
102.9
1.8
26.59
including
102.6
102.9
0.3
90.85
TUDDH-718
249.9
254.4
4.5
9.79
including
251.4
252.6
1.2
20.63
TGC-0181
60.0
60.9
0.9
47.11
including
60.6
60.9
0.3
134.68
TGC-0149
19.2
22.2
3.0
11.06
including
21.3
22.2
0.9
29.92
which includes
21.9
22.2
0.3
73.22
TGC-0164
100.5
102.9
2.4
11.95
including
101.7
102.6
0.9
20.42
TUDDH-718
267.9
270.0
2.1
12.73
including
267.9
268.5
0.6
31.96
TGC-0161
94.2
96.0
1.8
14.53
TGC-0166
103.7
106.4
2.7
9.64
including
104.0
104.6
0.6
33.10
TUDDH-714
241.7
243.8
2.1
12.02
including
243.2
243.8
0.6
24.02
*All drill intersects are downhole lengths
Zone 5 Drilling
The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south
oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and
several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that
converge at approximately 500 m depth to form the 500 Zone, which is the highest-grade part of the
deposit and is interpreted to be the feeder zone at Tuvatu. The system remains open at depth with the
deepest high-grade intersects occurring below 1000 m depth.
The drilling reported in this news release was focused on the near-surface portions of the UR2 and
URW3 lodes. These areas are scheduled to be mined throughout the next 12 months. Drilling was
separated into two focus areas; to the north of the Cabex Fault, and to the south of the Cabex Fault. The
Cabex Fault is a post-mineralization fault that strikes approximately ESE and dips approximately 65° to
the SSW. It is interpreted to be a late caldera collapse structure that is healed with carbonate.
The purpose of the Zone 5 infill and grade control drill program is to enhance the mine model and inform
stope design in advance of mining. Drilling to the north of the Cabex primarily targeted the down dip
extension of the UR2 lode below the 1120 level. Drilling to the south of the Cabex targeted both the down
dip extensions of the UR2 and URW3 lodes below the 1100 level, as well as the southern extension of
the lodes above and below the 1120 level. Highlights of the Zone 5 drill program are shown in Figure 2
and Figure 3.
Figure 2. Zone 5 north of Cabex drilling with high-grade intersects highlighted, 3.0 g/t gold
cutoff.
View is to the NNW. The primary target area is the down-dip extension of the UR2 lode below the
1120 level.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/211748_19a03de954442a42_002full.jpg
Figure 3. Zone 5 south of Cabex drilling with high-grade intersects highlighted, 3.0 g/t gold
cutoff.
View is to the NNE. The primary target areas are the southern extension of the UR2 and URW3
lodes above and below the 1120 level, and the down-dip extension of the UR2 and URW3 lodes below
the 1100 level.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/211748_19a03de954442a42_003full.jpg
Operations Update
Mechanized production mining is underway at Tuvatu. The two remote-capable loaders on site are now
fully commissioned and in operation. The first ever remote bogging activity at Tuvatu occurred on May
16
th
at the 1120 level south, on the UR2 lode in Zone 5. Remote loaders are necessary to extract
material from open stopes after blasting. The two long hole drills on site are also fully commissioned and
in operation. The first ever long hole production blast at Tuvatu occurred on May 18
th
, blasting level to
level via long holes from the 1120 level north to the 1130 level north, also on the UR2 lode in Zone 5. Both
the first remote bogging activity and the first long hole production blast at Tuvatu are major milestones for
the company as they represent the start of mechanized production mining. They are also both firsts for
the country of Fiji as this style of mining has not taken place in Fiji until now.
Figure 4. Location of the first long hole production blasting and remote bogging activities at
Tuvatu.
Left image: Plan view of Tuvatu showing the location of long hole blasting and remote bogging
activities in relation to the underground development (red) and the mineralized lodes (grey) at Tuvatu.
Yellow dashed square represents the area shown in the right image. Right image: Oblique view looking
northeast.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/211748_19a03de954442a42_004full.jpg
Mill operations are also advancing successfully. Operational improvements and debottlenecking projects
completed by the mill operations team have successfully increased throughput at the mill. These
bottlenecking projects include upgrading the process water recycle system, upgrading the thickener
pumps and piping, and reducing the tailings filter press cycle times. As a result of these upgrades the
processing plant can now achieve a sustained throughput of over 400 TPD, with peak daily throughput of
over 450 TPD. The name plate capacity of the processing plant during the ongoing pilot plant stage of
operations is 300 TPD. These upgrades therefore represent a substantial improvement in the
processing capacity available at Tuvatu.
Competent Persons Statement
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on
information compiled by the Lion One team and reviewed by Alex Nichol, who is the company's Vice
President of Geology and Exploration. Mr Nichol is a Member of the Australian Institute of Geoscientists
and has sufficient experience that is relevant to the style of mineralisation and type of deposit under
consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the
2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves' (JORC code). Mr Nichol consents to the inclusion in this report of the matters based on the
information in the form and context in which it appears.
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. The Company operates its own geochemical
assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged and split by Lion One personnel on site and 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 very 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 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.
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.
Contact Information
Investor inquiries:
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 2.
Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0137
1876384
3920626
129
100.4
8.2
116.4
TGC-0139
1876384
3920627
129
84.2
1.1
92.6
TGC-0141
1876384
3920627
129
89.0
0.5
105.0
TGC-0143
1876386
3920530
111
109.9
15.4
135.0
TGC-0145
1876383
3920628
128
60.5
-8.2
131.2
TGC-0147
1876383
3920628
128
52.2
-7.2
140.0
TGC-0149
1876386
3920530
111
117.7
9.5
135.0
TGC-0151
1876383
3920628
128
65.5
-6.1
48.0
TGC-0153
1876383
3920628
129
65.8
6.6
125.5
TGC-0154
1876386
3920530
111
123.1
11.9
11.1
TGC-0155
1876386
3920530
110
123.3
8.1
135.0
TGC-0157
1876383
3920627
129
70.7
6.8
116.0
TGC-0159
1876387
3920531
110
100.8
-13.3
135.0
TGC-0160
1876383
3920627
129
78.6
5.6
26.7
TGC-0161
1876383
3920627
129
78.4
7.1
105.0
TGC-0163
1876387
3920531
110
107.1
-13.2
135.0
TGC-0164
1876384
3920626
128
91.7
-13.5
115.6
TGC-0166
1876384
3920627
128
84.6
-18.4
120.0
TGC-0167
1876387
3920531
110
107.9
-18.9
140.4
TGC-0169
1876384
3920626
128
104.5
-18.2
120.0
TGC-0171
1876387
3920531
110
100.1
-18.5
140.3
TGC-0173
1876384
3920627
128
83.4
-11.4
113.6
TGC-0175
1876386
3920528
109
158.2
-22.2
100.2
TGC-0177
1876383
3920627
128
78.2
-9.9
92.5
TGC-0178
1876386
3920530
111
127.3
8.7
140.0
TGC-0179
1876383
3920627
128
71.6
-9.3
111.0
TGC-0180
1876383
3920628
128
65.5
-8.7
125.5
TGC-0181
1876386
3920530
110
131.6
7.9
140.1
TGC-0182
1876384
3920627
128
77.5
-10.6
105.0
TUDDH-699
1876557
3920390
352
310.1
-58.6
9.9
TUDDH-702
1876557
3920390
352
310.3
-57.6
263.5
TUDDH-705
1876557
3920390
352
308.5
-66.0
270.0
TUDDH-707
1876458
3920271
403
328.2
-60.9
320.6
TUDDH-709
1876559
3920388
353
311.1
-64.0
270.0
TUDDH-714
1876559
3920388
353
303.6
-66.7
270.0
TUDDH-718
1876559
3920388
353
297.6
-65.3
270.0
Table 3
. Composite results from drillholes reported in this news release (composite grade >3.0 g/t Au)
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0137
79.8
80.4
0.6
5.88
TGC-0141
93.7
95.2
1.5
11.16
including
93.7
94.0
0.3
10.05
and
94.0
94.3
0.3
20.02
and
94.3
94.6
0.3
6.13
and
94.6
94.9
0.3
3.99
and
94.9
95.2
0.3
15.60
TGC-0141
96.7
97.0
0.3
9.92
TGC-0143
95.2
95.8
0.6
19.32
including
95.2
95.5
0.3
7.50
and
95.5
95.8
0.3
31.13
TGC-0143
106.3
107.2
0.9
16.37
including
106.3
106.6
0.3
10.89
and
106.6
106.9
0.3
30.74
and
106.9
107.2
0.3
7.48
TGC-0143
120.7
121.0
0.3
7.61
TGC-0145
110.2
111.4
1.2
3.63
including
110.2
110.5
0.3
3.69
and
110.5
110.8
0.3
4.30
and
110.8
111.1
0.3
3.52
and
111.1
111.4
0.3
3.01
TGC-0149
19.2
22.2
3.0
11.06
including
19.2
19.5
0.3
3.27
and
19.5
20.1
0.6
3.79
and
20.1
20.7
0.6
<0.01
and
20.7
21.3
0.6
5.00
and
21.3
21.6
0.3
6.10
and
21.6
21.9
0.3
10.45
and
21.9
22.2
0.3
73.22
TGC-0149
30.0
30.9
0.9
7.98
TGC-0149
30.0
30.3
0.3
17.17
TGC-0149
30.3
30.9
0.6
3.38
TGC-0149
55.8
56.1
0.3
4.92
TGC-0149
87.6
87.9
0.3
5.22
TGC-0149
89.4
90.0
0.6
11.29
including
89.4
89.7
0.3
15.06
and
89.7
90.0
0.3
7.51
TGC-0149
103.5
104.7
1.2
14.46
including
103.5
103.8
0.3
9.85
and
103.8
104.1
0.3
10.89
and
104.1
104.4
0.3
6.09
and
104.4
104.7
0.3
30.99
TGC-0149
117.0
117.3
0.3
4.72
TGC-0153
103.0
103.9
0.9
3.11
including
103.0
103.3
0.3
3.83
and
103.3
103.6
0.3
0.59
and
103.6
103.9
0.3
4.90
TGC-0155
24.3
24.9
0.6
3.94
including
24.3
24.6
0.3
4.85
and
24.6
24.9
0.3
3.02
TGC-0155
50.4
50.7
0.3
6.91
TGC-0155
53.4
53.7
0.3
4.52
TGC-0155
57.3
58.2
0.9
5.99
including
57.3
57.6
0.3
9.41
and
57.6
57.9
0.3
3.84
and
57.9
58.2
0.3
4.72
TGC-0155
92.7
93.3
0.6
28.27
including
92.7
93.0
0.3
28.99
and
93.0
93.3
0.3
27.54
TGC-0155
105.0
105.3
0.3
7.91
TGC-0159
84.2
84.5
0.3
5.56
TGC-0159
86.0
87.2
1.2
8.51
including
86.0
86.3
0.3
12.67
and
86.3
86.6
0.3
4.64
and
86.6
86.9
0.3
10.25
and
86.9
87.2
0.3
6.47
TGC-0159
90.2
90.8
0.6
11.92
including
90.2
90.5
0.3
15.05
and
90.5
90.8
0.3
8.79
TGC-0159
92.6
93.5
0.9
3.21
including
92.6
92.9
0.3
4.10
and
92.9
93.2
0.3
<0.01
and
93.2
93.5
0.3
5.54
TGC-0159
101.0
101.3
0.3
32.52
TGC-0161
94.2
96.0
1.8
14.53
including
94.2
94.5
0.3
4.89
and
94.5
94.8
0.3
18.66
and
94.8
95.1
0.3
23.78
and
95.1
95.4
0.3
9.53
and
95.4
95.7
0.3
15.36
and
95.7
96.0
0.3
14.98
TGC-0163
24.9
26.1
1.2
393.01
including
24.9
25.2
0.3
3.40
and
25.2
25.5
0.3
0.07
and
25.5
25.8
0.3
<0.01
and
25.8
26.1
0.3
1568.55
TGC-0163
36.9
37.2
0.3
3.15
TGC-0163
45.0
45.3
0.3
3.91
TGC-0163
90.9
91.2
0.3
4.20
TGC-0163
93.3
93.6
0.3
6.02
TGC-0163
100.5
100.8
0.3
6.30
TGC-0163
104.1
104.4
0.3
4.74
TGC-0163
106.8
107.1
0.3
21.23
TGC-0164
100.5
102.9
2.4
11.95
including
100.5
100.8
0.3
4.59
and
100.8
101.1
0.3
10.68
and
101.1
101.4
0.3
5.15
and
101.4
101.7
0.3
6.60
and
101.7
102.0
0.3
25.77
and
102.0
102.3
0.3
5.19
and
102.3
102.6
0.3
30.31
and
102.6
102.9
0.3
7.30
TGC-0166
103.7
106.4
2.7
9.64
including
103.7
104.0
0.3
5.16
and
104.0
104.3
0.3
30.56
and
104.3
104.6
0.3
35.63
and
104.6
104.9
0.3
3.25
and
104.9
105.2
0.3
2.26
and
105.2
105.8
0.6
1.53
and
105.8
106.4
0.6
3.40
TGC-0167
49.5
53.2
3.7
6.43
including
49.5
49.8
0.3
4.23
and
49.8
50.1
0.3
19.96
and
50.1
50.4
0.3
5.91
and
50.4
50.7
0.3
18.69
and
50.7
51.0
0.3
3.30
and
51.0
51.3
0.3
<0.01
and
51.3
51.6
0.3
0.04
and
51.6
51.9
0.3
21.50
and
51.9
52.2
0.3
0.30
and
52.2
52.5
0.3
0.05
and
52.5
52.8
0.3
1.13
and
52.8
53.2
0.4
3.12
TGC-0167
94.1
94.7
0.6
15.94
including
94.1
94.4
0.3
6.24
and
94.4
94.7
0.3
25.63
TGC-0167
96.6
96.9
0.3
3.87
TGC-0167
98.8
99.1
0.3
41.89
TGC-0167
109.3
110.2
0.9
9.56
including
109.3
109.6
0.3
4.53
and
109.6
109.9
0.3
13.39
and
109.9
110.2
0.3
10.76
TGC-0167
and
118.3
118.6
0.3
10.05
TGC-0169
106.8
108.6
1.8
5.41
including
106.8
107.4
0.6
6.35
and
107.4
108.0
0.6
<0.01
and
108.0
108.6
0.6
9.87
TGC-0169
109.8
112.8
3.0
3.27
including
109.8
110.4
0.6
3.50
and
110.4
110.7
0.3
3.99
and
110.7
111.3
0.6
0.65
and
111.3
111.6
0.3
9.14
and
111.6
111.9
0.3
0.16
and
111.9
112.5
0.6
3.79
and
112.5
112.8
0.3
3.53
TGC-0171
87.3
87.6
0.3
20.20
TGC-0171
90.0
90.6
0.6
7.01
including
90.0
90.3
0.3
8.67
and
90.3
90.6
0.3
5.35
TGC-0171
91.8
92.1
0.3
11.75
TGC-0171
99.0
99.3
0.3
3.12
TGC-0171
103.2
107.1
3.9
14.98
including
103.2
103.5
0.3
5.07
and
103.5
103.8
0.3
0.25
and
103.8
104.1
0.3
9.90
and
104.1
104.4
0.3
4.80
and
104.4
104.7
0.3
0.27
and
104.7
105.0
0.3
0.37
and
105.0
105.3
0.3
0.31
and
105.3
105.6
0.3
5.97
and
105.6
105.9
0.3
18.36
and
105.9
106.2
0.3
1.38