Lion One Pounces In Fiji

Lion One Metals Limited(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) has obtained positive results from the infill drill and re-sampling programme undertaken in the near-surface portion of the Tuvatu deposit.

This programme was designed to further strengthen the database in the portion of the deposit earmarked for earliest production, from the company’s 100% owned Tuvatu gold project in Fiji.

• 5,615m of infill drilling completed in 30 holes (~70% of the proposed programme)
• 600 additional data points generated from infill resampling of 12 historic holes

Highlights from near-surface infill drilling and re-sampling include:

20.61 g/t Au over 7.50m inc. 89.03 g/t Au over 1.50m, and 227.3 g/t Au over 0.30m from TUDDH545
21.34 g/t Au over 2.50m inc. 38.25 g/t Au over 1.30m, and 52.27 g/t Au over 0.30m from TUDDH548
33.52 g/t Au over 2.40m inc. 185.60 g/t Au over 0.40m from TUDDH553
9.13 g/t Au over 2.59m inc. 74.58 g/t Au over 0.30m from resampling of historic hole TUDDH362

TUDDH541

• 4.61 g/t Au over 4.23m from 112.6-116.83m, including
  • 14.35 g/t Au over 1.20m from 115.63-116.83, which includes
  • 33.85 g/t Au over 0.30m from 116.23-116.53m
• 7.09 g/t Au over 0.60m from 124.63-125.23m, including
  • 12.82 g/t Au over 0.30m from 124.93-125.23m

TUDDH544

• 8.27 g/t Au over 0.30m from 24.65-24.95m
• 5.46 g/t Au over 2.90m from 34.6-37.5m, including
  • 16.75 g/t Au over 0.50m from 34.9-35.4m, and
  • 7.83 g/t Au over 0.60m from 36.6-37.2m
• 9.21 g/t Au over 0.30m from 50.85-51.15m
• 18.62 g/t Au over 0.30m from 65.93-66.23m
• 9.44 g/t Au over 0.60m from 68.32-68.92m, including
  • 13.45 g/t Au over 0.30m from 68.32-68.62
• 11.21 g/t Au over 0.30m from 147.23-147.53

TUDDH545

• 20.61 g/t Au over 7.50m from 123.6-131.1m, including
  • 7.97 g/t Au over 1.00m from 123.6-124.6m, and
  • 8.97 g/t Au over 0.90m from 125.6-126.5m, and
  • 89.03 g/t Au over 1.50m from 128.3-129.8m, which includes
  • 227.30 g/t Au over 0.30m from 128.3-128.6m, and
  • 10.48 g/t Au over 0.30m from 128.6-128.9, and
  • 39.01 g/t Au over 0.30m from 128.9-129.2m, and
  • 99.42 g/t Au over 0.30m from 129.2-129.5m, and
  • 68.95 g/t Au over 0.30m from 129.5-129.8m
• 9.88 g/t Au over 0.30m from 130.8-131.1m
• 9.38 g/t Au over 1.00m from 137.6-138.6m

TUDDH546

• 10.16 g/t Au over 1.20 from 104.2-105.4m, including
  • 39.33 g/t Au over 0.30m from 104.2-104.5m

TUDDH547

• 13.47 g/t Au over 0.30 from 104.5-104.8m

TUDDH548

• 9.82 g/t Au over 0.30 from 82.6-82.9m
• 18.74 g/t Au over 0.30m from 101.6-101.9m
• 6.41 g/t Au over 1.50m from 106.2-107.7m, including
  • 26.34 g/t Au over 0.30m from 106.2-106.5m
• 15.37 g/t Au over 0.30m from 110.4-110.7m
• 21.34 g/t Au over 2.50m from 120.85-123.35m, including
  • 38.25 g/t Au over 1.30m from 121.75-123.05m, which includes
  • 52.27 g/t Au over 0.30m from 121.75-122.05m, and
  • 21.13 g/t Au over 0.30m from 122.05-122.35m, and
  • 53.82 g/t Au over 0.30m from 122.35-122.75m, and
  • 20.58 g/t Au over 0.30m from 122.75-123.05m

TUDDH553

• 7.84 g/t Au over 0.90m from 26.0-26.9m
• 33.52 g/t Au over 2.40m from 173.4-175.8m, including
  • 185.60 g/t Au over 0.40m from 174.5-174.9m

Highlights from infill resampling of historic drilling include:

• 6.78 g/t Au over 3.50m from 91.1-94.6m, including
  • 8.43 g/t Au over 2.70m from 91.1-93.8m, including
  • 10.98 g/t Au over 0.90m from 91.1-92.0m in TUDDH225
• 9.13 g/t Au over 2.59m from 84.81-87.4m, including
  • 74.58 g/t Au over 0.30m from 86.31-86.61m in TUDDH362
• 1.81 g/t Au over 0.60m from 118.2-118.8m in TUDDH410
• 6.88 g/t Au over 0.60m from 131.1-131.7m in TUDDH539

Infill Drilling and Resampling Programme

In addition to the recently reported expansion of the high-grade 500 Zone underlying the Tuvatu resource, several bonanza-grade intercepts have also been returned from the ongoing near-surface infill/definition drill programme.

The ~8000m infill drill programme was initiated in June of 2021 with the aim of infilling areas of low data density within parts of the resource currently categorised as Inferred. To date, a total of 5,615m of diamond drilling over 30 holes have been completed, with ~30% of the proposed program remaining.

Concurrently, a programme of resampling of unsampled intervals from historic drill holes in has been initiated with the resampling of 12 holes completed to date (23 holes planned), representing ~50% of the planned resampling programme, and thus far generating ~600 additional samples in areas where data was considered sparse. The additional data generated was generated in Lion One’s own assay laboratory in Nadi and will add significant new high-grade intercepts to the resource earmarked for early production.

Final results received to date from holes drilled as part of the infill program are for 7 holes only (TUDDH541-553). All results for holes TUDDH554-562 remain pending. Figure 3 shows some of the coarse visible gold intersected as part of the infill drilling program. Photographs shown are from drill holes for which analytical results are still pending. A complete set of results for all previously unreported drill holes which form part of the infill drill program is included as Table 1.

The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill drilling from surface and underground, 2) deep exploration drilling from surface and underground targeting lode extensions and additional feeders under the Tuvatu resource. With the wet season starting in Fiji, the regional drill program requiring access to remote parts of the Navilawa caldera has seen a planned interruption, and is scheduled to resume in early 2022.

Deep Feeder Zone 500 – additional update

An update of results obtained from the ongoing deep drilling of the high-grade 500 Zone feeder zone is also provided at this time. Additional results, as yet unreported, from ongoing drilling of the 500 Zone include: 17.43 g/t Au over 1.5mfrom downhole depth of 643.1-644.6m from hole TUDDH544-W1.

There are currently 3 drill holes targeting the 500 Zone. Results of these will be reported as they become available.

“High grade mineralisation continues to be defined both in the near-surface portion of the deposit, as well as in the expanding deep feeder Zone 500,” Senior Vice President Exploration, Sergio Cattalani, said.

“The additional data generated by the infill drilling and resampling programs will greatly enhance our understanding of the geometry of the veins, and raise the level of confidence needed, ahead of Lion One’s near-term underground development at Tuvatu.

“Our objective remains to work toward a near-term modest production start, concomitant with an aggressive exploration programme aimed at the continued expansion of deep bonanza-grade resources for the eventual scaled-up development of a larger and richer resource base.”

For further information please visit: https://liononemetals.com/