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Lion One Metals Ltd.
Summary
| Project: | Tuvatu | |
|---|---|---|
| Deposit: | Tuvatu | |
| Location: | Fiji | |
| Commodities: | Gold | |
| Date: | 1/22/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-1-2020: Lion One Metals Ltd. announces an Exploration/Drilling Update report for its Tuvatu deposit at the Tuvatu project. Drilling results incl. 3.60m @ 1.312g/t Au from 188.80m. North Vancouver, British Columbia--(Newsfile Corp. - January 22, 2020) - | |
| Resources: | (Resource): 1.12Mt @ 8.17g/t Au (Ind.) and 1.30Mt @ 10.60g/t Au (Inf.) at Tuvatu | |
| CP/QP: | [Overall Report]: Stephen Mann (Internal) | |
| ABSTRACT: | North Vancouver, British Columbia--(Newsfile Corp. - January 22, 2020) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to announce the results of the first part of the second diamond drill hole completed into the "Tuvatu Deeps" area at the Company's 100% owned and fully permitted Tuvatu Alkaline Gold Project in Fiji. The Company previously announced (December 18 th , 2019) the results of the first "Tuvatu Deeps" drill hole, TUDDH493. The second diamond drill hole (TUDDH494) of the planned program of deep holes into the "Tuvatu Deeps" is currently at a depth of 700m and is continuing to approximately 1000m. Drilling has been slowed by the Christmas and New Year holiday period, and the commencement of the wet season. Results have been received from the first 400m of drilling with one significant intersection having been returned. The first diamond drill hole (TUDDH493) of the program was completed to a downhole depth of 536.90 meters late in 2019. Both TUDDH494 and the previously drilled TUDDH493 targeted the east-west striking Murau 2 lode in addition to the downdip extensions on the two main mineralised north-south structures at Tuvatu, namely the URW1 and the UR2 lodes. TUDDH494 was collared with a dip of 67 o degrees and an azimuth of 097 o TN. As can be seen in Figure 1 below, Tuvatu itself sits in the only area of systematic drilling in the entire 7km strike of the most highly prospective host rock within this significantly mineralised volcanic centre. Drilling to date indicates the mineralisation is open at depth, and mapping, geochemical sampling, and geophysics highlight the fact that this prospective zone is strongly mineralised along its entire 7km strike length. Figure 2 below shows a cross section including the previous drill hole, TUDDH493, and the current hole, TUDDH494. TUDDH494 is still in progress and results have been received for the first 400m of drilling. | |
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