Announcement Date: 2022-08-15
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. 54.9m @ 12.22g/t Au from 576.1m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: North Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from ongoing follow-up drilling to the previously reported high-grade intercept of 75.90m of 20.86 g/t Au in TUG-141 (June 6, 2022 NR), at its Tuvatu Alkaline Gold Project in Fiji. Results for the first two diamond drill holes carried out as follow-up drilling from the significant new feeder zone mineralization in TUG-141 and reported on June 6, 2022 have been received and compiled. TUDDH-601 was drilled from surface at -85° and was designed to further test the high-grade zone encountered in TUG-141, and TUG-145 was drilled from the same underground collar location as TUG141, collared at 3° steeper, and designed to test directly below the TUG-141 drill trace (Figure 1). TUG145 drifted to the west and lifted more than expected. TUG-145 represented an inclined hole 3° steeper than TUG-141, drilled from the same underground collar location (Table 2 below). The hole drifted west and lifted such that the effective distance between TUG-141 and TUG-145 was approximately 21m at the 600m depth mark, with TUG-145 west of TUG141. While TUG-141 drilled out of the less favourable monzonite and into the favourable andesite at approximately 390m depth, TUG-145
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