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Lion One Metals Ltd.
Summary
| Project: | Tuvatu | |
|---|---|---|
| Deposit: | Tuvatu | |
| Location: | Fiji | |
| Commodities: | Gold | |
| Date: | 5/9/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-5-2017: Lion One Metals Ltd. announces an Exploration/Drilling Update report for its Tuvatu deposit at the Tuvatu project. Drilling results incl. 8.41m @ 71.41g/t Au from 96.10m. Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ian Chang, Stephen Mann (Internal) | |
| ABSTRACT: | Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) (the “Company”) is pleased to announce the following drilling and development update for its 100% owned and fully permitted high grade underground Tuvatu Gold Project located near Nadi on the island of Viti Levu in the Republic of Fiji. The Company commenced drilling at Tuvatu in October 2016 with one surface rig, followed by the addition of an underground rig in March 2017. A total of 6,493 meters of diamond drilling has been completed to date consisting of 5,744m from 28 surface drill holes, and 739m from 7 underground drill holes. An additional 520m of drilling has been completed for geotechnical purposes in the area of the proposed processing plant, and to confirm stability of the monzonite host rock underground. The underground diamond drill rig has targeted the area north of the Core Shed Fault, where very little previous drilling has been undertaken. Surface mapping and sampling has highlighted continuation of those mineralized lodes to the north, in addition to a number of other zones of mineralization previously untested. The main known lodes being tested include the UR2, Tuvatu and H lodes. The current drilling program has identified a number of very high grade intercepts from outside the proposed ore stopes planned in the 2015 Preliminary Economic Assessment. In particular, the intercepts in TUDDH 408, 419 and 425 fall well outside existing stopes, whilst TUDDH407, 409, 410 and others, returned intersection on the margins of existing planned stopes. Other diamond drill holes have confirmed the existing mineralization in many of the other proposed stopes. | |
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