Lion One Metals Limited (TSXV: LIO) has obtained significant new high-grade results from grade control drilling at the company’s wholly-owned Tuvatu Alkaline Gold Project in Fiji.
Following on the initial mining and extraction of the URA1 lode, is now reporting new high-grade results from grade control drilling on the URW1 lode system, approximately 120m further east. Mining of URW1 is expected to begin over the next two to four weeks. Strike drive development on URW1 has commenced.
Highlights of new high-grade gold mineralization intersected by grade control drilling:
Multiple bonanza grade zones have been intersected including:
- 88.07g/t Au over 5.7m (including 1,396g/t Au over 0.3m) (TGC-0034)
- 27.52g/t Au over 5.55m (TUG-056)
- 20.93g/t Au over 7.2m (TGC-0003)
- 16.12g/t Au over 9.3m (TGC-0014)
- 16.48g/t Au over 9.6m (TGC-0002)
- 14.6g/t Au over 6.6m (TGC-0032)
- 14.97g/t Au over 5.4m (TGC-0018)
- 10.85g/t Au over 6.9m (TGC-0013)
Visible was gold observed in several drill holes.
Close spaced grade control drilling has resulted in much higher resolution of the lode arrays as compared to previous infill drilling, including the identification of bonanza grade (>50g/t Au) zones.
The tightened drill pattern will facilitate optimised development and extraction of high-grade gold mineralization from the URW1 lodes while minimising dilution.
High-grade gold mineralization extracted from the URW1 lode system will contribute significantly to the growing high-grade stockpile constituting the initial feed for the company’s plant and processing facility, on schedule for start-up in Q4 2023.
Mineralization
Mineralization consists of abundant free gold, typically in association with light to dark gray chalcedonic quartz and roscoelite, locally accompanied by minor amounts of pyrite, sphalerite, galena and lesser chalcopyrite
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