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About Lion One Metals Limited
Lion One Metals Limited (OTCQX: LOMLF) is a Canadian-based gold mining and exploration company headquartered in North Vancouver, British Columbia. The company operates within the mining sector, specializing in the discovery, development, and production of high-grade gold deposits. Its flagship asset, the Tuvatu Alkaline Gold Project, is located in Fiji and is 100% owned by Lion One Metals. This project represents one of the most promising high-grade alkaline gold systems globally, a rare and economically significant type of mineral deposit.
The Tuvatu Alkaline Gold Project
The Tuvatu Alkaline Gold Project is situated within the Navilawa Caldera on Fiji’s main island of Viti Levu. This region is geologically favorable for the formation of alkaline gold systems, which are characterized by their high-grade mineralization and association with rare minerals such as roscoelite. The Tuvatu deposit includes multiple lodes, such as the UR2, URW3, and Murau systems, and extends to significant depths, with exploration revealing bonanza-grade gold at various intervals. Lion One’s operations at Tuvatu include an underground gold mine, a pilot processing plant, and an in-house assay lab, demonstrating a vertically integrated approach to gold production.
Operational Strategy and Vertical Integration
Lion One Metals employs a vertically integrated business model to maximize operational efficiency and cost-effectiveness. The company’s operations include its own fleet of diamond drill rigs, a geochemical assay laboratory, and a modular processing plant designed for scalability. Initially operating at 300 tonnes per day (TPD), the plant is undergoing expansion to reach a capacity of 600-700 TPD. This expansion reflects Lion One’s commitment to scaling production while maintaining high recovery rates and operational sustainability.
Exploration and Resource Expansion
Exploration is a cornerstone of Lion One’s strategy. The company has an extensive exploration license covering the Navilawa Caldera, which hosts multiple mineralized zones and targets for resource expansion. Recent drilling programs have focused on high-grade zones such as Zone 5 and the West Zone, yielding significant results, including bonanza-grade gold assays exceeding 1,500 g/t. These efforts aim to enhance the company’s mine model, inform stope design, and integrate new resources into the long-term mine plan.
Significance in the Mining Industry
Lion One Metals is uniquely positioned within the global gold mining industry due to its focus on alkaline gold systems. These systems are not only geologically rare but also offer substantial economic potential due to their high-grade nature. The company’s operations in Fiji benefit from the region’s supportive mining regulations and proximity to established gold markets. By leveraging its expertise in alkaline gold systems, Lion One Metals contributes to the understanding and development of this specialized segment of the mining industry.
Competitive Landscape
In the competitive landscape, Lion One Metals differentiates itself through its focus on high-grade alkaline gold deposits and its integrated operational model. Competitors include other gold mining companies operating in similar geological environments, such as Papua New Guinea and other parts of the Pacific Rim. However, Lion One’s emphasis on in-house capabilities, including its assay lab and exploration fleet, provides a competitive edge in terms of cost control and operational efficiency.
Commitment to Quality and Sustainability
Lion One adheres to rigorous quality assurance and quality control (QAQC) protocols in its drilling, sampling, and analysis processes. The company’s in-house assay lab ensures accurate and reliable results, which are further validated through independent third-party laboratories. This commitment to quality underscores Lion One’s dedication to maintaining industry-leading standards in gold production and exploration.
Conclusion
With its focus on high-grade alkaline gold systems, vertically integrated operations, and strategic exploration initiatives, Lion One Metals Limited is a significant player in the gold mining industry. The company’s Tuvatu Alkaline Gold Project in Fiji serves as a cornerstone of its operations, offering substantial potential for resource expansion and economic growth. By leveraging its expertise and commitment to excellence, Lion One Metals continues to advance its position as a leader in the specialized field of alkaline gold mining.
Lion One Metals has commenced development of a new high-grade near-surface roscoelite zone at its Tuvatu gold mine in Fiji. An initial bulk sample returned 11.6 g/t gold from 861 tonnes of mined material. The roscoelite zone, located 65m below surface, features intersecting flat and sub-vertical banded veins composed of chalcedonic quartz, roscoelite, pyrite, and native gold. This mineral assemblage is similar to that found at the nearby Vatukoula gold mine, which has produced over 7 million ounces of gold, and the Porgera gold mine in PNG, which has produced over 25 million ounces.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) reports significant high-grade gold results from near-mine exploration and infill drilling at the West Zone target near the Tuvatu Gold Mine in Fiji. Highlights include:
- 105.20 g/t Au over 2.1 m (TUDDH-636)
- 70.07 g/t Au over 2.1 m (TUDDH-647)
- 102.38 g/t Au over 1.2 m (TUDDH-645)
The company also reports record preliminary Q1 FY2025 gold production at Tuvatu:
- 3,680 oz of gold recovered from July-September 2024
- 31,390 tonnes milled
Production was impacted by a scheduled 9-day mill maintenance shutdown in July and mining equipment breakdowns in August. The West Zone drilling program, consisting of deep exploratory and shallow infill drilling, shows strong potential for high-grade mineralization at depth and near-surface, warranting further exploration and potential inclusion in the Tuvatu mine plan.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) announces its removal from the Australian Securities Exchange (ASX) official list, effective August 5, 2024. The delisting follows a voluntary application submitted on June 24, 2024, due to low trading frequency and volumes of CDIs on ASX compared to TSX-V. Only 5.89% of the company's total issued share capital is held on the Australian CDI register as of July 31, 2024.
Post-delisting, Lion One's shares will continue trading on TSX-V (LIO) and OTCQX (LOMLF). CDIs will be automatically converted to TSX-V listed shares on a 1:1 basis, registered in book-entry form (DRS) on the Canadian share register. Shareholders will need to make arrangements with a Canadian broker to trade shares on TSX-V.
Lion One Metals (TSXV: LIO) (ASX: LLO) (OTCQB: LOMLF) has announced a non-brokered private placement of up to 5,405,405 units at $0.37 per unit, aiming to raise up to $2 million. Each unit includes one common share and one warrant, exercisable at $0.50 per share within 36 months. This Sidecar Private Placement complements the previously announced $10 million LIFE Offering, bringing the total expected gross proceeds to $11,999,999.80. The funds will be used for working capital and general corporate purposes. The placement may involve company directors and management, constituting a related party transaction but exempt from certain requirements due to its size relative to the company's market capitalization.
Lion One Metals has reported significant improvements in its Q2 2024 gold production at the Tuvatu Gold Mine in Fiji, achieving a production of 3,551 oz, up from 1,394 oz in Q1 2024.
This boost is driven by mechanized production and increased mill throughput, processing 32,100 tonnes of material in Q2 2024 compared to 20,751 tonnes in Q1 2024.
The company aims to double plant capacity from 300 TPD to 600-700 TPD, advancing towards the ultra-high-grade Zone 500. CEO Walter Berukoff highlighted the milestone in full capacity operations and the positive outlook ahead.
Additionally, David Tretbar has resigned from the Board of Directors due to increased responsibilities at San Cristobal Mining. His tenure included key developments like the discovery of Zone 500 and the commissioning of the Tuvatu processing plant.
Lion One Metals reported record gold production at its Tuvatu project in June, achieving approximately 1,370 oz of gold with a projected total of 1,700 oz for the month. The company also expanded the gold-in-soil anomaly 650 meters to the south of Tuvatu, potentially increasing the strike length of the deposit by 70%.
Furthermore, Lion One has increased its planned mill expansion to 600-700 TPD from the originally planned 500 TPD, aiming to double the nameplate capacity by mid-2025. An updated NI43-101 compliant Technical Report has been filed with an effective date of June 24, 2024, detailing increased gold production and exploration successes.
Mechanized production commenced in mid-May, significantly boosting production efficiency and output. Soil sampling revealed high-grade gold results, coinciding with arsenic, lead, and zinc anomalies, suggesting substantial exploration potential.
The updated Technical Report includes a Mineral Resource Estimate with detailed classifications and projected gold recovery metrics.
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.
Lion One Metals (TSXV: LIO, OTCQX: LOMLF, ASX: LLO) announced the start of mechanized production at its Tuvatu Gold Project in Fiji. Notable milestones include the first remote bogging on May 16 and first long hole stope blast on May 18, marking the project's transition to production mining. The company reported increased mill operations capacity from 300 TPD to over 400 TPD, due to operational improvements.
Significant new drill results were highlighted, with assays such as 393.01 g/t gold over 1.2 meters and 215.86 g/t gold over 0.6 meters. These results are important for enhancing the mine model and inform stope design, focusing on UR2 and URW3 lodes. The company completed 4930.7 meters of new drilling across 36 holes.
The Tuvatu project’s operational upgrades and high-grade drilling results indicate promising potential for increased gold production, positioning Lion One strategically in the gold mining sector.
Lion One Metals reports high-grade gold results from near-mine expansion drilling at Tuvatu Alkaline Gold Project in Fiji. Significant gold intercepts include 30.48 g/t over 4.8m and 64.46 g/t over 8.1m. The Murau and SKL areas show promising mineralization potential. The Murau system is expanding, with 34 drillholes targeting down-dip extensions. SKL drilling confirms high-grade mineralization, aiming for inclusion in the mine plan by 2025.
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