- Lion One Metals Limited (LIO) has located a major new gold feeder structure at its Tuvatu Alkaline Gold Project in Fiji
- The Vancouver mineral explorer has now recorded the longest high-grade intercept ever at the project, 20.86 grams per tonne of gold over 75.9 metres
- The new discovery is located at depth beneath the current resource fully within the permit boundaries
- The company’s immediate priority is to follow up with additional drilling in what remains a poorly-drilled portion of the Tuvatu system
- Lion One Metals is unchanged, trading at $1.14 at 10:23 am ET
Lion One Metals Limited (LIO) has located a major new gold feeder structure at its Tuvatu Alkaline Gold Project in Fiji.
The Vancouver-based mineral explorer has now recorded the longest high-grade intercept ever at the project, 20.86 grams per tonne of gold over 75.9 metres.
The new discovery is located at depth beneath the current resource fully within the permit boundaries of the Tuvatu mining lease.
“The mineralized intercepts reported by TUG-141 represent a highly significant development. The grades and continuity observed by the intercepts in hole TUG-141 are of a magnitude not previously documented at Tuvatu, and highlights the largely untapped potential of this deposit. The significance of having identified what may be a new principal feeder conduit for Tuvatu confirms the model that has driven this deep exploration program since the discovery of hole TUDDH-500 in July 2020. Our immediate priority is to follow up of this significant discovery with additional drilling in what remains a relatively poorly drilled portion of the Tuvatu system. Lion One, is now more than ever, convinced of the potential of Tuvatu to become a prominent, multi-million ounce Au deposit at the top of the Au grade distribution worldwide,” said Lion One Senior Vice President of Exploration Sergio Cattalani.
Further drilling is required to better understand the new discovery. The area remains open at depth and the target has now become a top priority for follow up drilling.
The Tuvatu Project is Lion One’s flagship asset and the company has a 100-percent stake.
Lion One Metals is unchanged, trading at $1.14 at 10:23 am ET.