For thousands of other reports visit RSC's Mineral Intellingence Map
Lion One Metals Ltd.
Summary
| Project: | Tuvatu | |
|---|---|---|
| Deposit: | Tuvatu | |
| Location: | Fiji | |
| Commodities: | Gold | |
| Date: | 6/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-6-2019: Lion One Metals Ltd. announces an Exploration/Drilling Update report for its Tuvatu deposit at the Tuvatu project. Drilling results incl. 19.15m @ 8.07g/t Au from 58.55m. North Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) - Lio | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Mann (Internal) | |
| ABSTRACT: | North Vancouver, British Columbia--(Newsfile Corp. - June 25, 2019) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to announce results from the first six diamond drill holes from its 2019 exploration program at its 100% owned and fully permitted high grade TuvatuGold Project in Fiji. Drilling has focused on areas in the northern parts of the Tuvatu resource area targeting extensions of the H and T lodes. These lodes occur along a northwest-trending corridor of intense potassium alteration in which spongey textured feldspar and coarse biotite have replaced the host monzonite. The porous nature of this alteration allowed later gold-rich fluids to permeate this corridor producing what has only recently been recognized as a new, potentially important style of mineralization at Tuvatu. The long interval of continuous gold mineralization seen in hole TUDDH484, 19.15 m of 8.07 g/t Au, is one of the longest intervals of gold mineralization encountered to date at Tuvatu. These promising results indicate more exploration is needed to further test for extensions of this style of mineralization beyond the resource area. Additional lodes, including notable low-angle SKL lodes, were also encountered in drilling. An intercept across lode SKL3 in hole TUDDH480 encountered 3.21 m of 12.98 g/t Au including 0.38 m of 91.00 g/t Au. SKL lodes appear to serve as linking structures that provided conduits for gold-rich fluids to access high angle structures during the time of gold deposition. Their importance is increasingly being recognized in the Tuvatu lode system. Further results from the bottom half of TUDDH484 are awaited. Diamond drilling is continuing. LionOne recently purchased the drilling assets of Fijian-based companyGeodrill which has provided the Company with two diamond drills, one for surface drilling and one for underground. Operating these drills "in-house" has enabled LionOne to significantly reduce drilling cost, a huge benefit to the Company's ability to implement cost-effective exploration. LionOne plans to continue drilling through 2019, starting initially with near-resource drilling then testing new targets generated by the Company's current greenfield exploration campaign later in 2019 and 2020. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report