- Lion One Metals (LIO) has produced more bonanza-grade intercepts and expanded the Deep Feeder Zone at its Tuvatu Alkaline Gold Project
- Multiple high-grade intercepts were struck, including from TUG-149, including 12.89 g/t Au over 12.9 metres from 254.4 metres, 84.61 g/t Au over 3.9 metres from 318.6 metres, and 48.65 g/t Au over 5.4 metres from 423.3 metres
- The results from these holes confirm a significant increase in the vertical extension and continuity of the URW3 mineralized zone, which occurs on the western margin and as part of the high-grade feeder zone
- Lion One Metals Ltd. (LIO) was down 1.20 per cent, trading at $0.82 as of 12:55 pm ET
Lion One Metals (LIO) has produced more bonanza-grade intercepts and expanded the Deep Feeder Zone at its Tuvatu Alkaline Gold Project.
This has led to an increase of at least 180 metres in the vertical extent of the URW3 lode as defined by bonanza grade intercepts.
Multiple high-grade intercepts were struck, including from TUG-149, including 12.89 g/t Au over 12.9 metres from 254.4 metres, 84.61 g/t Au over 3.9 metres from 318.6 metres, and 48.65 g/t Au over 5.4 metres from 423.3 metres.
Definition of a new portion of deep, high-grade feeder material that is separate from, and parallel to, the high-grade zone.
The results from these holes confirm a significant increase in the vertical extension and continuity of the URW3 mineralized zone, which occurs on the western margin and as part of the high-grade feeder zone.
The new drill intercepts, with results from the previously drilled TUG-138 drill hole, correspond to a significant increase in grade with depth. The high-grade feeder zone remains open at depth.
Lion One’s technical advisor Quinton Hennigh stated that this drilling is leading the team closer to the main conduits of this remarkable high-grade gold system.
“Without question, URW3 is turning into a big branch of the ‘tree.’ The junction between it and the rest of the 500 Zone looks like it forms a pipe, perhaps the one that has allowed mineralizing fluids to flow upwards. If we chase this down with further drilling, I think it could lead us to parts of the system in which considerable gold was deposited.”
Lion One Metals is a mineral exploration and development company whose flagship asset is 100 per cent owned, fully permitted high-grade Tuvatu Alkaline Gold Project, located in Fiji.
Lion One Metals Ltd. (LIO) was down 1.20 per cent, trading at $0.82 as of 12:55 pm ET.