- Lion One Metals Limited (LIO) extends deep feeder zone 500 to 1,150 m at Tuvatu Alkaline Gold Project in Fiji
- They have further confirmed the alkaline deposit model and depth potential of the Tuvatu Alkaline Gold Project in Fiji
- The latest drilling at Tuvatu extends Deep Feeder Zone 500 approximately 300 meters below the base of the current resource
- This further confirms the potential for a deep-rooted gold-bearing alkaline gold system like the example at the nearby Vatukoula gold system in Fiji
- The company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ sized drill core rods
- Lion One Metals Limited (LIO) is up 1.75 per cent, trading at C$1.16 at 12:27 pm ET
Lion One Metals Limited (LIO) has returned multiple high-grade intercepts and extended the drill-confirmed vertical extent of Deep Feeder Zone 500.
They have further confirmed the alkaline deposit model and depth potential of the Tuvatu Alkaline Gold Project in Fiji.
The latest drilling at Tuvatu extends Deep Feeder Zone 500 approximately 300 meters below the current resource base.
With two further holes intersecting high-grade mineralization an additional 350 m deeper, this has demonstrated vertical continuity of the Tuvatu gold system of at least 1,150 m.
This deep extensional drilling demonstrates exceptional grades at depth.
Further, it confirms the potential for a deep-rooted gold-bearing alkaline gold system like the example at the nearby Vatukoula gold system in Fiji, where historical gold production exceeds seven million ounces and exploration is ongoing.
Sergio Cattalani, Lion One’s Senior Vice President of Exploration, commented, “With the re-entry hole TUDDH-494, high-grade mineralization in the deep feeder Zone 500 has now been demonstrated to extend for over 650 meters vertically below the base of the current resource.”
“While this upper 300m portion of the feeder zone alone should add significantly to the overall resource at Tuvatu, the lower 350m remains essentially undrilled,” added Cattalani.
Results to date have indicated that the mineralized high-grade feeder zone consists of at least four principal vein arrays striking between N020° and N030°, corresponding in orientation to UR2 And UR4 lodes in the orebody above.
Two isolated drill intercepts down-plunge directly from the highly mineralized shoot have returned 10.5 g/t Au and 12.2 g/t Au from holes TUDDH514 and TUDDH494.
This suggests that the mineralized structure may extend for at least an additional 350 m for a total mineralized zone extending up to 650 m below the base of the current inferred resource.
In accordance with one of the well-documented and defining characteristics of large alkaline Au systems, this corresponds to at least 1150 m of near-continuous vertical high-grade Au mineralization.
Additionally, the strike extent is not closed to the NE as drill hole TUDDH571 intersected 12.5 g/t Au at 482.1 m downhole, which is directly on strike to one of the modelled 500 Zone lodes.
The company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ-sized drill core rods.
The drill core is logged by company geologists and then is sawn in half and sampled by Lion One staff.
Samples are analyzed at its own geochemical laboratory in Fiji.
In contrast, pulp duplicates of all samples with results >0.5g/t Au are re-assayed and sent to ALS Global Laboratories in Australia for check assay determinations.
All samples for all high-grade intercepts reported here will be sent to ALS Global Laboratories for check assays shortly.
All samples are pulverized to 80 per cent passing through 75 microns. Gold analysis is carried out using a fire assay with an AA finish.
The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji.
Lion One’s flagship asset is 100 per cent-owned, fully permitted high-grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji.
Lion One envisions a low-cost, high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system.
Lion One Metals Limited (LIO) is up 1.75 per cent, trading at C$1.16 at 12:27 pm ET.