Encounters Deep and Shallow High Grade Gold Mineralisation In Fiji
Lion One Metals Limited (TSXV: LIO) (ASX: LLO) has receivedhigh-grade gold results from two recently completed drill holes, one deep and one shallow, at its 100% controlled Tuvatu alkaline gold project, Fiji.
Highlights:
Hole TUDDH514, a north-oriented diamond drill hole completed to a depth of 1,014.8m, tested an area approximately 100m vertically underneath and approximately 7m along strike from a deep high-grade lode (12.7m grading 55.43 g/t Au in hole TUDDH500) encountered by Lion One late in 2020 (please see a Company news release dated November 4, 2020 for more details).
Two high-grade lodes were intersected in TUDDH514, 2.24m grading 13.31 g/t Au beginning at 495.60m including 0.35m grading 64.40 g/t Au and 3.47m grading 20.71 g/t Au beginning at 706.94m including an exceptionally high-grade subinterval of 0.23m grading 294.50 g/t Au. Interestingly, this hole also encountered a narrow intercept of 0.35m grading 10.52 g/t Au at a depth of 983.15m, the deepest mineralised intercept ever encountered at Tuvatu.
The orientation of the deep high-grade lode encountered by hole TUDDH500 and its wedge holes, and now hole TUDDH514, is confirmed to be northeast and near vertical. This confirmation allows Lion One to now plan further aggressive deep drilling to test this exciting target. The high-grade lode is open along strike, up dip, and at depth. Alkaline gold systems are known to continue to great depths.
Technical Advisor Dr Quinton Hennigh said that utilising the company’s shallow capacity drill, hole TUDDH518, an easterly-oriented diamond drill hole completed to a depth of 197.8m, tested a shallow area within the upper reaches of the Tuvatu ode system that lacked drilling. This hole encountered a narrow, but exceptionally high- grade interval of 0.25m grading 255.50 g/t Au beginning at 190.7m through what is thought to be the UR2 lode.
“The high-grade intercept of 3.47m grading 20.71 g/t Au encountered in hole TUDDH514 is fully 100m vertically below and 7m along strike from our high-grade intercept in hole TUDDH500 and its wedge holes,” Dr Hennigh said.
“This is a big step-out and gives us high confidence we have discovered a significant root structure below the Tuvatu lode system. In addition, this hole encountered a somewhat shallower high-grade intercept of 2.24m grading 13.31 g/t Au on a second deep-rooted lode.
“For a system that hosts approximately 2,500-3,000 oz of resource per vertical meter, seeing these deep holes deliver such high-grade intercepts well-below the existing resource is encouraging.
“We are quite keen to see what wedge hole, TUDDH514w1, and our other deep hole, TUDDH517, deliver as they further test these deep high-grade lodes. Soon, we will see arrival of our underground drill rigs, further allowing us to ramp up the pace of exploration.
“This is shaping up to be a very busy year at Tuvatu.”
