- Lion One (LIO) has completed 38 infill drill holes in near-surface drilling of the Tuvatu deposit
- The company has intersected multiple bonanza-grade intercepts in its 6,735 metres of drilling to date
- This program was designed to further strengthen the company’s data for the production portion of the Tuvatu deposit
- Lion One Metals Ltd. is a mineral exploration and development company
- Shares in Lion One (LIO) are up 5.94 per cent, trading at $1.07 per share
Lion One (LIO) has completed 38 infill drill holes in near-surface drilling of the Tuvatu deposit.
This program was designed to further strengthen the company’s data for the portion of the Tuvatu deposit where the company hopes to commence its earliest production.
The company has intersected multiple bonanza-grade intercepts in its 6,735 metres of drilling to date, including 359.8 g/t gold over 1.8 metres, 1,616 g/t gold over 0.4 metre, and 294.5 g/t gold over 0.3 metres.
“I am increasingly confident that once underground mining is underway, the average head grade of the ore earmarked for early production will be higher than previously modelled,” said Lion One’s Senior VP of Exploration Sergio Cattalani.
Lion One is currently undertaking two tiers of drilling: shallow resource drilling from surface and underground, and deep exploration drilling targeting lode extensions and additional feeders under the Tuvalu resource.
Regional drill programs requiring access to remote parts of the Navilawa caldera has been interrupted during the wet season, but will resume in early 2022.
“Our objective remains clear: to work toward a near-term modest production start, concomitant with an aggressive exploration program aimed at the continued expansion of bonanza-grade resources both near-surface and along defined feeder conduits at greater depths, for the eventual scaled-up development of a larger and more valuable resource,” concluded Mr. Cattalani.
Lion One Metals Ltd. is a mineral exploration and development company. Its flagship Tuvatu gold deposit is located on the island of Viti Levu in Fiji.
Shares in Lion One (LIO) are up 5.94 per cent, trading at $1.07 per share as of 3:27 pm EST.