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Overview of Lion One Metals
Lion One Metals (symbol: LOMLF) is an emerging Canadian gold producer focusing on the exploration and production of high-grade alkaline gold. Headquartered in North Vancouver, BC, the company operates its 100% owned Tuvatu Alkaline Gold Project in Fiji, a strategically significant asset within the Navilawa Caldera. Utilizing a combination of innovative mining techniques, a modular pilot processing plant, and an advanced in-house assay laboratory, Lion One Metals has established a vertically integrated operation that spans from resource exploration to gold recovery.
Core Operations and Production Excellence
The Tuvatu project encompasses an underground gold mine, a modular processing plant, and an on-site assay laboratory. The company has systematically ramped up production through the incorporation of mechanized mining methods, which have optimized drill efficiency and gold recovery. Engineering upgrades at the processing plant, combined with strategic mill expansion plans to potentially double processing capacity, position Lion One Metals to enhance production output significantly while maintaining cost effective operations.
Exploration and Resource Expansion
Lion One Metals places a strong emphasis on exploration across its extensive license covering the entire Navilawa Caldera. Detailed soil sampling programs and strategic drilling campaigns have expanded the known footprint of high-grade gold mineralization. Advanced geochemical analyses and NI43-101 compliant technical reports support the evolving geological model and resource potential of the Tuvatu project, with recent discoveries hinting at a possible increase in the deposit's strike length and resource base.
In-House Assay Laboratory and Quality Assurance
A cornerstone of the company’s operations is its own accredited assay laboratory, which ensures rapid turnaround times for drill and mill assays. This state-of-the-art facility, which complies with international quality standards, not only enhances operational efficiency but also reinforces the company’s commitment to precision and quality in its resource evaluation and production activities.
Competitive Landscape and Industry Position
Operating in a competitive segment of the global mining industry, Lion One Metals differentiates itself through a combination of technical expertise and robust operational infrastructure. The company’s vertically integrated approach—from in-house assay capabilities and mechanized mining techniques to planned mill expansion—demonstrates its comprehensive understanding of the complexities of modern gold mining. This positions Lion One Metals as a significant player among junior mining companies, recognized for its diligence in exploration and resource optimization.
Strategic Initiatives
Key strategic initiatives include the progressive expansion of mill throughput, ongoing exploration to extend the known mineralized zones, and the enhancement of mine infrastructure to support increased production capacity. Integrating the latest technological advancements in mine planning and processing, the company continues to focus on sustainable operational growth, ensuring long-term resource development and operational stability. These initiatives are supported by rigorous QAQC protocols and detailed technical reporting, which are essential for maintaining the credibility and trustworthiness required in the mining sector.
Conclusion
In summary, Lion One Metals represents a well-rounded and technically adept enterprise within the gold mining industry. Its comprehensive approach combines proven mining practices with continuous exploration and technological innovation, making it a company of interest for stakeholders seeking in-depth knowledge of gold production, resource exploration, and operational efficiency in a complex industry environment.
Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) held its annual and special general meeting on December 12, 2024. Shareholders approved key resolutions including: the re-election of three directors - Walter Berukoff, Richard Meli, and Kevin Puil; the Company's Omnibus Equity Incentive Compensation Plan as outlined in the October 29, 2024 management information circular; and the re-appointment of Davidson & Company LLP as the company's auditor for the upcoming fiscal year.
Lion One Metals reports Q1 FY2025 financial results with record revenue of CAD$10.47M and mine operating income of CAD$1.53M. The company sold 3,129 oz of gold at an average price of CAD$3,332 per oz. Mining operations achieved 32,977 tonnes of mineralized material at 4.83 Au g/t, while the pilot plant processed 31,391 tonnes with a record 3,639 oz of gold recovered. The company has drawn down USD$4M in Tranche 3 from Nebari financing facility to support mine enhancement plans.
Lion One Metals reports intensified roscoelite-targeting efforts at its Tuvatu Gold Mine in Fiji, following the discovery of a new high-grade gold structure. The structure, exposed in near-surface underground workings, has returned 11.6 g/t gold from 861 tonnes of material and extends over 100m. The company announces the return of Sergio Cattalani to lead technical efforts, along with the addition of two ex-Newmont geologists: Ivan Maldonado as Mine Geology Manager and Alexander Valencia as Senior Mine Geologist. The newly discovered structure features abundant roscoelite, characteristic of large alkaline gold deposits, and represents a significant opportunity for expanding the mine's long-term plan.
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.
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