Lion One Drills 3.3 m of 97.46 g/t Gold at Tuvatu Gold Mine in Fiji
Lion One Metals reported significant high-grade gold results from Zone 5 infill and grade control drilling at its Tuvatu Alkaline Gold Project in Fiji. Key results include 97.46 g/t gold over 3.3 m, with sub-intervals of 750.05 g/t over 0.3 m and 315.46 g/t over 0.3 m. Drilling focused on up-dip, down-dip, and southern areas of the UR2 and URW3 lodes, which are set for mining within the next 12 months. The Zone 5 area targeted in this drilling includes various lodes forming high-grade parts of the deposit, with the system remaining open at depth.
Highlighted intercepts include 54.70 g/t over 1.8 m and 42.11 g/t over 1.5 m. The company aims to enhance the mine model and inform stope design before commencing mining in these target areas.
- 97.46 g/t gold over 3.3 m in Zone 5.
- Multiple high-grade assays: 750.05 g/t, 315.46 g/t.
- Targeted areas set for mining within 12 months.
- Drilling focused on high-grade parts of the deposit.
- System remains open at depth.
- Results are preliminary and may not represent consistent findings.
- No confirmed production increase or revenue forecast.
- Drilling results based on downhole lengths, not true widths.
- Potential challenges in accessing deeper high-grade zones.
North Vancouver, British Columbia--(Newsfile Corp. - June 12, 2024) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to report significant new high-grade gold results from Zone 5 infill and grade control drilling at its
Assay results are 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 750.05 g/t, 315.46 g/t, 167.55 g/t, 134.10 g/t, 132.29 g/t, 126.84 g/t, and 120.8 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 the up-dip, down-dip, and southern areas of the UR2 and URW3 lodes. These areas are targeted for mining within the next 12 months. The headline intercept of 97.46 g/t gold over 3.3 m is currently under development for extraction. Previous drill results from the Zone 5 area are available in the June 5, 2024, December 13, 2023, November 2, 2023, and August 10, 2023 news releases.
Top New Drill Results:
- 97.46 g/t Au over 3.3 m (including 750.05 g/t Au over 0.3 m) (TGC-0208, from 82.8 m depth)
- 54.70 g/t Au over 1.8 m (including 134.10 g/t Au over 0.3 m) (TGC-0187, from 100.5 m depth)
- 79.64 g/t Au over 1.2 m (including 315.46 g/t Au over 0.3 m) (TGC-0191, from 75 m depth)
- 42.11 g/t Au over 1.5 m (including 95.33 g/t Au over 0.3 m) (TGC-0204, from 117.2 m depth)
- 167.55 g/t Au over 0.3 m (TGC-0188, from 60.3 m depth)
*All drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 for additional data
Figure 1. Location of the 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. Yellow dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5 drilling looking approximately northeast.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/212644_e2a447fca4a20b5e_001full.jpg
Table 1. Highlights of composited 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-0208 | 82.8 | 86.1 | 3.3 | 97.46 | |
| including | 84.0 | 84.9 | 0.9 | 336.39 | |
| which includes | 84.0 | 84.3 | 0.3 | 126.84 | |
| and | 84.3 | 84.6 | 0.3 | 750.05 | |
| and | 84.6 | 84.9 | 0.3 | 132.29 | |
| TGC-0187 | 100.5 | 102.3 | 1.8 | 54.70 | |
| including | 100.5 | 100.8 | 0.9 | 106.92 | |
| which includes | 100.8 | 101.1 | 0.3 | 65.87 | |
| and | 101.1 | 101.4 | 0.3 | 134.10 | |
| and | 101.4 | 101.7 | 0.3 | 120.80 | |
| TGC-0191 | 75.0 | 76.2 | 1.2 | 79.64 | |
| including | 75.9 | 76.2 | 0.3 | 315.46 | |
| TGC-0204 | 117.2 | 118.7 | 1.5 | 42.11 | |
| including | 118.1 | 118.4 | 0.3 | 95.33 | |
| TGC-0188 | 60.3 | 60.6 | 0.3 | 167.55 | |
| TGC-0207 | 44.1 | 47.1 | 3.0 | 16.69 | |
| including | 44.1 | 44.7 | 0.6 | 34.54 | |
| and | 44.7 | 45.6 | 0.9 | 26.98 | |
| TGC-0183 | 122.6 | 123.2 | 0.6 | 66.95 | |
| TGC-0183 | 109.1 | 112.4 | 3.3 | 11.78 | |
| including | 112.1 | 112.4 | 0.3 | 42.50 | |
| TGC-0188 | 123.7 | 127.6 | 3.9 | 9.10 | |
| including | 123.7 | 124.0 | 0.3 | 19.57 | |
| and | 125.2 | 125.5 | 0.3 | 23.22 | |
| and | 126.1 | 126.4 | 0.3 | 36.52 | |
| and | 127.0 | 127.3 | 0.3 | 20.05 | |
| TGC-0183 | 53.3 | 53.9 | 0.6 | 54.67 | |
| TGC-0203 | 40.5 | 41.7 | 1.2 | 21.38 | |
| including | 40.5 | 41.1 | 0.6 | 38.99 | |
| TGC-0189 | 130.2 | 131.1 | 0.9 | 26.79 | |
| including | 130.2 | 130.5 | 0.3 | 71.60 |
*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 Zone 500, 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 targeted the near-surface portions of the UR2 and URW3 lodes. These areas are scheduled to be mined throughout the next 12 months. Drilling was focused on the up-dip, down-dip, and southern areas of the UR2 and URW3 lodes, and targeted a 280 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth. The southern drillholes reported here are the southernmost underground infill drillholes completed by Lion One and represent a new area of infill and grade control drilling at Tuvatu (Figure 3).
The headline drill intercept for this news release, 3.3 m at 97.46 g/t, has been intersected by an airleg rise. A sub-level is being established in this area to facilitate extraction over the coming months. This intercept includes a very high-grade sub-interval of 0.9 m at 336.39 g/t. The purpose of the current Zone 5 infill and grade control drill program is to enhance the mine model and inform stope design in advance of mining in the target areas. Highlights of the Zone 5 drilling reported here are shown in Figure 2 and Figure 3.
Figure 2. Zone 5 up-dip and down-dip drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. View is to the northeast. The primary target areas shown here are the up-dip and down-dip areas of the UR2 and URW3 lodes. The headline intercept of 97.46 g/t gold over 3.3 m is intersected by a mine rise and development is ongoing to establish a sub-level to facilitate extraction in this area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/212644_e2a447fca4a20b5e_002full.jpg
Figure 3. Zone 5 southern drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. View is to the east. The primary target area shown here is the southern part of the UR2 and URW3 lodes. These are the southernmost underground infill drillholes drilled by Lion One to date at Tuvatu and represent a new area of infill drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/212644_e2a447fca4a20b5e_003full.jpg
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
Duplicates of
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
On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO
Contact Information
Email: info@liononemetals.com
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-0183 | 1876386 | 3920529 | 111 | 137.4 | 8.1 | 167.5 |
| TGC-0184 | 1876384 | 3920626 | 128 | 110.0 | -13.7 | 37.2 |
| TGC-0185 | 1876384 | 3920626 | 128 | 102.6 | -13.6 | 11.3 |
| TGC-0186 | 1876380 | 3920532 | 130 | 71.9 | 8.0 | 121.1 |
| TGC-0187 | 1876384 | 3920627 | 128 | 82.0 | -14.7 | 115.0 |
| TGC-0188 | 1876386 | 3920529 | 111 | 142.1 | 7.6 | 170.0 |
| TGC-0189 | 1876386 | 3920529 | 111 | 141.9 | 19.2 | 170.8 |
| TGC-0190 | 1876384 | 3920626 | 128 | 110.3 | -15.0 | 120.0 |
| TGC-0191 | 1876382 | 3920532 | 130 | 79.1 | 6.4 | 111.0 |
| TGC-0192 | 1876384 | 3920626 | 128 | 103.7 | -13.8 | 5.2 |
| TGC-0193 | 1876386 | 3920530 | 111 | 135.0 | 20.1 | 170.6 |
| TGC-0194 | 1876383 | 3920627 | 128 | 69.3 | -15.7 | 120.0 |
| TGC-0195 | 1876381 | 3920532 | 130 | 86.0 | 6.9 | 110.2 |
| TGC-0196 | 1876384 | 3920626 | 128 | 103.2 | -14.6 | 120.0 |
| TGC-0197 | 1876384 | 3920432 | 95 | 98.4 | 22.4 | 92.1 |
| TGC-0198 | 1876384 | 3920626 | 128 | 70.0 | 17.0 | 5.6 |
| TGC-0199 | 1876381 | 3920531 | 130 | 92.9 | 6.8 | 111.6 |
| TGC-0200 | 1876383 | 3920627 | 130 | 70.6 | 22.4 | 115.3 |
| TGC-0201 | 1876384 | 3920432 | 95 | 106.1 | 21.8 | 70.6 |
| TGC-0202 | 1876384 | 3920431 | 96 | 122.5 | 21.0 | 85.8 |
| TGC-0203 | 1876380 | 3920531 | 130 | 101.3 | 7.1 | 115.0 |
| TGC-0204 | 1876384 | 3920627 | 127 | 68.7 | -34.4 | 150.0 |
| TGC-0205 | 1876381 | 3920533 | 131 | 68.5 | 14.0 | 115.0 |
| TGC-0206 | 1876384 | 3920431 | 96 | 131.2 | 21.9 | 80.0 |
| TGC-0207 | 1876384 | 3920431 | 95 | 106.4 | 21.7 | 67.7 |
| TGC-0208 | 1876381 |
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FAQ
What are the latest drilling results for LOMLF?
Lion One Metals reported 97.46 g/t gold over 3.3 m from Zone 5 at the Tuvatu Gold Project.
What is the significance of the Zone 5 drilling results for LOMLF?
The Zone 5 results include high-grade gold intercepts, indicating potential for substantial gold yield as the area is set for mining within 12 months.
When will Lion One Metals begin mining in Zone 5?
Lion One Metals plans to start mining in the targeted areas of Zone 5 within the next 12 months.
How high was the highest grade of gold found in the recent LOMLF drilling?
The highest grade reported was 750.05 g/t gold over a 0.3 m interval.
What is the depth of the headline intercept for LOMLF's Zone 5 drilling?
The headline intercept of 97.46 g/t gold over 3.3 m was found at a depth of 82.8 m.
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