- Lion One (LIO) is retesting some promising high-grade gold results from its recent exploration work at the Tuvatu gold project in Fiji
- Thus far, Lion One has completed a diamond drill hole to a depth of 863.4 metres and is now drilling a wedge hole at 400 metres depth to retest a recent high-grade intersection
- Lion one has also received gravimetric assays from some of the previous high-grade results
- The gravimetric assays retuned improved results including twos metres at 46.7 grams per tonne, and 12.7 metres at 55.43 grams per tonne
- Lion One (LIO) is up 6.8 per cent and is trading at C$2.19 per share
Lion One (LIO) is retesting some promising high-grade gold results from its recent exploration work at the Tuvatu gold project in Fiji.
Thus far, Lion One has completed a diamond drill hole to a depth of 863.4 metres and is now drilling a wedge hole at 400 metres to retest a recent high-grade intersection.
The original assays from that section came in at 35.28 grams per tonne gold across two metres, including 0.5 metres that graded at 1.5 grams per tonne gold. The previous results have been retreated using gravimetric fire assaying techniques, which gives a more accurate data result for high-grade gold.
The new results show two metres at 46.7 grams per tonne gold, and a 0.5 metre result that graded at 144 grams per tonne gold.
Another of the results to be retested was a 12.7 metre strike that originally graded at 46.14 grams per tonne gold. This included a 0.9 metre strike that graded at the very high 506.4 grams per tonne gold, and in turn included a result that graded at the massive 1310 grams per tonne gold over 0.3 metres.
The new gravimetric results show a 12.7 metre result that graded at 55.43 grams per tonne gold, and included a 0.9 metre result of 582.33 grams per tonne, alongside a 0.3 metre strike that graded at 1400 grams per tonne gold.
Tuavuto is located on the island of Viti Levu in Fiji and has a mineral resource estimated of 1.12 million tonnes at 8.17 grams per tonne gold, for 294,000 gold ounces.
Quinton Hennigh, the Technical advisor to Lion One, said that it was not uncommon to see the gravimetric fire assay results return higher values.
“Exploration in new parts of big gold systems such as this can lead to paradigm shifts resulting in fundamental shifts in thinking,” he said.
Lion One (LIO) is up 6.8 per cent and is trading at $2.19 per share at 1:15 pm EDT.
