| Announcement Date: | 2023-08-24 |
|---|---|
| Announcement Type: | Exploration Update |
| Announcement Code: | NI43-101 |
| Company name: | Lion One Metals Ltd. |
| Project name: | Tuvatu |
| Location: | Fiji |
| Commodities: | Gold |
| Highlight: | Channel sampling assay results 66.83g/t Au over 0.7m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | North Vancouver, B.C., August 24, 2023 – Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce the discovery of a new mineralized structure carrying bonanza grade gold 1 km to the north of the company’s 100% owned Tuvatu Alkaline Gold Project in Fiji. The new mineralized structure was discovered on surface by Lion One’s regional exploration team and has been named the Lumuni occurrence. The structure is located 1 km north of Tuvatu, approximately along strike from lodes UR1, UR2, and UR3. The Lumuni structure exhibits a width at surface of approximately 0.5 m to over 1 m and is manifested as two mapped zones of what may be a single continuous feature. This includes a north-south striking zone that dips steeply to the west, and a northwest-southeast striking interval that dips steeply to the southwest. High-grade gold results were returned from close-spaced channels and outcropping zones separated by up to 30 m strike length. The overall feature was traced on surface for a length of over 150 m and remains open to the south-east where it is obscured under vegetation. The high-grade mineralized structure also appears to be coincident with a large steeply-dipping CSAMT resistivity low, which may be indicative of a deeply-rooted structure. |
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