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Lion One Metals Ltd.
Summary
| Project: | Tuvatu | |
|---|---|---|
| Deposit: | Tuvatu | |
| Location: | Fiji | |
| Commodities: | Gold | |
| Date: | 12/21/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2016: Lion One Metals Ltd. announces an Exploration/Drilling Update report for its Tuvatu deposit at the Tuvatu project. Drilling results incl. 2.42m @ 24.07g/t Au from 86.96m. North Vancouver, B.C., December 21, 2016. Lion One Metals Limited (TSX-V | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Mann (Internal) | |
| ABSTRACT: | North Vancouver, B.C., December 21, 2016. Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) (the “Company”) is pleased to announce a drilling and dewatering update from its 100% owned and fully permitted Tuvatu Gold Project located near Nadi on the island of Viti Levu in the Republic of Fiji. The Company has now received results for seven diamond drill holes focused on infill targets at Tuvatu. Results received to date include 71.41 g/t Au over 8.41m from TUDDH 406. These results further confirm the continuity of mineralized lodes planned to be mined in the first three years of the proposed operation at Tuvatu. Drill holes have targeted areas previously in zones of high grade inferred mineralization or otherwise extensions to existing lodes. The Company has continued to dewater the existing decline which was used to take bulk samples in the previously completed (historic) feasibility study. In all 1,431 meters of decline were excavated at that time. Dewatering is now complete to approximately a third of the underground development. Dewatering will continue over the Christmas period. Ventilation fans have also been installed in preparation for further work underground in the New Year, which will include underground diamond drilling from the decline, detailed sampling and mapping, and exploitation of the mineralized ore zones. Slippage in the Core Shed Fault area which lies about 140m from the portal was less than anticipated and has also been cleared. The Company has just completed its diamond drilling program for 2016, but will resume in January 2017 with one surface rig and one underground rig. | |
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