Announcement Date: 2022-05-31
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Lion One Metals Ltd.
Project name: Tuvatu
Location: Fiji
Commodities: Gold
Highlight: Drilling results incl. 0.6m @ 292.69g/t Au from 122.1m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: North Vancouver, B.C., May 31, 2022 – Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from ongoing infill drilling at its Tuvatu Alkaline Gold Project in Fiji. Results for the first 11 holes of Lion One’s Phase 2 infill program on Zone 5 of their fully permitted Tuvatu alkaline gold deposit are here reported. The results to date indicate significant new intercepts of high- to bonanza-grade Au mineralization that was not known to occur as part of the existing resource model. The Phase 2 infill drill program was designed to confirm the location, size, and continuity of the known mineralized lodes, in a portion of the orebody slated for early production (Figure 1A). The mineralization reported here is considered to be a highly significant development, representing a substantive addition of Au mineralization at grades well in excess of the average resource grade, intersected at relatively shallow levels in the orebody. As a result, the new high-grade mineralization defined by the ongoing infill drill program can be expected to substantially enhance the early part the production stream and hence the immediate economic viability of Tuvatu.
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