- Lion One (TSXV:LIO) purchased a new Boart Longyear LM90 underground drill to support resource growth and future production expansion at its Tuvatu gold mine in Fiji
- The drill will enable deeper and inclined underground drilling, including the first underground drilling of the Zone 500 and West Zone targets
- Delivery is expected in October 2026 and will increase Lion One’s active drill fleet to four underground drills and two surface drills
- Lion One Metals stock (TSXV:LIO) opened trading at $0.15
Lion One Metals (TSXV:LIO) announced the purchase of a new Boart Longyear LM90 underground core drill for its wholly owned Tuvatu alkaline gold mine in Fiji, a move the company says will support its strategy to expand mineral resources and increase future production.
The LM90 drill, which is expected to be delivered in mid-October 2026, is designed specifically for underground mining operations and will significantly enhance Lion One’s drilling capabilities. The company plans to use the drill to target high-grade mineralization at depth within the Zone 500 and West Zone areas of the Tuvatu project, with the objective of expanding and upgrading resources that could support increased mining activity.
According to Lion One, the acquisition forms part of a broader initiative to grow production at Tuvatu by improving access to deeper mineralized zones and increasing the efficiency of underground exploration.
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New capabilities for underground exploration
The Boart Longyear LM90 is capable of drilling to depths of up to 990 metres and can operate at all dip angles, from vertically upward (+90 degrees) to vertically downward (-90 degrees). The drill can also accommodate a range of drill rod sizes from AQ to NQ, providing flexibility for various exploration programs.
A key benefit of the new rig is its ability to drill inclined holes and deep underground holes from locations within the mine. Lion One stated that this will allow it to test important targets from underground stations rather than relying primarily on surface-based drilling.
The company noted that the LM90 will make it possible to drill laterally into both Zone 500 and the West Zone from depth underground for the first time. Previous exploration targeting these areas was conducted from surface locations or near-surface drill stations.
“The LM90 is an important purchase for Lion One Metals as it significantly increases the versatility and capability of our underground drill fleet,” Lion One’s president and CEO, Ian Berzins said in a news release. “We will be able to drill Zone 500 and the West Zone effectively from a dedicated drill station underground for the first time. We’re excited to get the drill on site and start targeting those areas as soon as possible.”
By moving drilling operations underground, Lion One expects to achieve shorter drill distances, reduced drilling costs, improved turnaround times, and more favourable interception angles into the steeply dipping high-grade vein systems that characterize the Tuvatu deposit.
Dedicated underground drill station under development
To maximize the effectiveness of the new equipment, Lion One is developing a dedicated underground drill station off Level 1051 of the mine. The station will be located at the end of an approximately 80-metre development drive south of Zone 2.
From this location, the LM90 is expected to target mineralization in Zone 500, the West Zone, and Zone 5, while also testing strike extensions of those zones.
Management believes the new drill position will provide more efficient access to areas of known high-grade mineralization and could accelerate resource expansion efforts in parts of the deposit that remain open at depth.
The company also highlighted the compact design of the LM90. Compared with some existing rigs in Lion One’s fleet, the drill can be transported through smaller underground development drifts, potentially reducing both capital requirements and development timelines associated with establishing drilling platforms.
Growing drill fleet
With the addition of the LM90, Lion One’s active drill fleet will expand to six operating drills.
The fleet currently consists of three Zinex U5 electric underground drills, one Zinex U5 diesel surface drill, one EDR450 track-mounted surface drill, and the new LM90 underground drill. The EDR450 is leased, while the remaining active drills are owned and operated by the company.
Lion One also owns two Hanjin D&B 30D surface drills that are currently not in service.
The expanded fleet is expected to provide the company with greater flexibility to conduct simultaneous underground and surface exploration programs as it advances development of the Tuvatu gold mine.
Focus on resource growth and production expansion
The purchase of the LM90 reflects Lion One’s continued focus on increasing the scale of its operations at Tuvatu. By enabling deeper and more targeted exploration from underground positions, the company aims to better define high-grade mineral resources and support long-term mine growth.
As development of the dedicated drill station progresses and the new rig arrives later this year, Lion One plans to use the enhanced drilling capacity to advance exploration in several priority zones and evaluate opportunities to expand production from the Fiji-based gold operation.
About Lion One Metals
Lion One Metals Ltd. engages in mine development and exploration of mineral properties in Fiji. Its primary asset is the 100 per cent-owned Tuvatu Gold project, which comprises four exploration licenses on the island of Viti Levu in Fiji.
Lion One Metals stock (TSXV:LIO) opened trading at $0.15 but has lost 47.37 per cent since the year began.
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