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Lion One Metals Ltd.
Summary
| Project: | Tuvatu | |
|---|---|---|
| Deposit: | Tuvatu | |
| Location: | Fiji | |
| Commodities: | Gold | |
| Date: | 8/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-8-2017: Lion One Metals Ltd. announces an Exploration/Drilling Update report for its Tuvatu deposit at the Tuvatu project. Drilling Results incl. 2.77m @ 85.42g/t Au from 49.20m. North Vancouver, British Columbia--(Newsfile Corp. - August 22, 2017) - L | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Mann (Internal) | |
| ABSTRACT: | North Vancouver, British Columbia--(Newsfile Corp. - August 22, 2017) - Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSE: LY1) (the "Company") is pleased to announce drill results from a new zone of shallow mineralization identified at its 100% owned and fully permitted high grade underground TuvatuGold Project located near Nadi on the island of Viti Levu in the Republic of Fiji. This new mineralized zone is adjacent, but separate, to mineralization previously outlined in the Tuvatu resource (see Figure 1). The grades intersected are significantly higher than other drill results in this immediate area and are located in the near-surface providing the possibility for early development. The current drill program is focused to the north of the east-west striking Core Shed Fault, a structure which bisects the northern end of the Tuvatu resource. Previous drilling to the north of the Core Shed Fault identified limited and generally lower grade mineralization. The recent drilling has tied together these previous results and extended the known mineralization further north and with higher-grade than that indicated by the previous work. This zone of mineralization is open to the northwest, southeast and at depth. Drilling will continue in an effort to determine the extent of mineralization in both directions along strike, and down-dip. All intersections to date are very shallow, but depth extensions will be targeted as the program continues. The new drilling is characterized by fine quartz veins, pyrite rich, vuggy, bleached monzonite, with zones of intense, very coarse grained biotite and potassium feldspar alteration. The zone is characterized by intense fractures, breccia and minor faults. To date, this new zone of mineralization is confined to the area north of the Core Shed Fault, and has already shown the potential to extend much farther north from the area previously drilled at Tuvatu. | |
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