Continues To High-Grade Intersections At Tuvatu Gold Project
Lion One Metals Limited (TSXV: LIO) has mobilised two new drilling rigs as it continues to receive high grade gold results from surface drilling and underground channel sampling programmes from the company’s 100% owned fully permitted Tuvatu Gold Project in Fiji.
The two new Canadian built Zinex drill rigs and related equipment were purchased in late 2020 and arrived at the Port of Lautoka in Fiji in the second week of February prior to clearing customs and being delivered to the project site.
CEO, Walter Berukoff, said the two new rigs have 1,000m depth capacity, can be utilised from surface or underground and are scheduled to be fully operational by late March.
“With the deployment of these rigs the company will have six rigs operating as it transitions into Fiji’s dry season, with four rigs focused on continued near surface and deep drilling at Tuvatu, and two rigs focused on drilling CSAMT anomalies exceeding depths of 1.2km in the surrounding Navilawa Caldera,” Mr Berukoff said.
The company’s other two deep capacity rigs are currently drilling holes (TUDDH-522 and 523) targeting extensions of TUDDH-500 which previously intersected 1,400 g/t Au over 0.30m. The two current holes are expected to hit target depths of over 800m in coming weeks.
Additional near surface high-grade gold results have been received from Hole TUDDH-521, which has intersected four shallow high-grade intercepts infilling near-surface gaps in or adjacent to the current lode resource model.
These results from TUDDH-521 combine with the recently completed TUDDH-520 which intersected 21.31 g/t Au over 12.45m including 544 g/t Au over 0.35mat a vertical depth of 75m to demonstrate a significant increase in the grade of the lodes in this area.
The company also reports that its Fiji personnel have modified the existing Tuvatu underground workings in preparation for underground drilling and undertaken systematic sampling of the principal lode structures identified in this area.
Several select high grade channel samples exceeding 50 g/t gold were recently taken with the highest values of 560 g/t Au over 0.10m, 91.77 g/t Au over 0.13m, 60.46 g/t Au over 0.12m, and 56.94 g/t Au over 0.11m (SKL lode), with 43.67 g/t Au over 0.15m (Snake lode), and 45.63 g/t Au over 0.13m (UR2 lode).
