Lion One Metals drills 2,749.86 g/t gold over 0.3 m at Tuvatu Gold Mine, Fiji

Lion One Metals Limited [TSXV: LIO; OTCQX: LOMLF] reported significant new high-grade gold results from 3,866.8 metres of infill and grade control drilling at its 100%-owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 5 and includes the Zone’s best assay result to-date of 2,749.86 g/t of gold over 0.3 metres (88.42 oz/ton of gold over 1.0 feet).

All drilling was completed from existing near surface underground workings. The company intersected high-grade mineralized structures in 24 holes drilled up-dip, down-dip, and south along strike of the UR2 and URW3 lodes where current mining activities are in progress. Seventeen holes intersected multiple high-grade mineralized structures, all of which are near existing underground workings. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade assays such as 2,749.86 g/t, 269.5 g/t and 235.2 g/t over narrow widths of 0.3 metres. Due to proximity of drill results to existing workings there is a strong probability that some of these structures can be incorporated into the mine plan in the next six to twelve months.

Bonanza grades in Zone 5 at the Tuvatu Alkaline Gold Project are not unexpected. Previously, the company announced high-grade drill results from Zone 5 including 1,986.23 g/t gold over 0.6 metres, 1,568.55 g/t over 0.3 metres and 1,517.79 g/t over 0.3 metres.

Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 5 infill and grade control drill program. These significant underground drill results continue to confirm the high-grade nature of the Tuvatu Alkaline gold system and provide strong support for our ongoing mining efforts in Zone 5. We’re excited to expand our near-term mine plan in Zone 5 and look forward to mining these areas in 2025. I was particularly interested to see that three of the highest-grade intersections were all identified in hole TGC-265 as separate and distinct structures.”

Highlights of new drill results: 2,749.86 g/t Au over 0.3 metres (TGC 265, from 96.2 m depth) Best assay to-date in Zone 5; 162.97 g/t Au over 0.6 m (including 269.5 g/t Au over 0.3 m) (TGC-281, from 75.89 m depth); 53.11 g/t Au over 1.5 m (including 235.2 g/t over 0.3 m) (TGC-282, from 92.6 m depth); 96.5 g/t Au over 0.6 m (TGC-288, from 28.8 m depth); 46.94 g/t Au over 1.2 m (including 86.44 g/t Au over 0.3 m) (TGC-265, from 45.7 m depth); 47.22 g/t Au over 0.9 m (including 62.25 g/t over 0.3 m (TGC-265, from 81.1 m depth) and 69.38 g/t Au over 0.6 m (including 126.5 g/t over 0.3 m (TGC-267, from 125 m depth).

Zone 5 Drilling: The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that converge at approximately 500 metres depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be a major feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1,000 metres depth.

The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3 lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly above and below current underground developments. The drilling targeted a 200 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 metres. Both lodes remain open along strike and at depth.

The Zone 5 grade control drilling reported in this release was conducted from two underground locations: the 1135 drill station and the 1090 drill station. The majority of the high-grade intervals reported in this release are located within 30 metres of underground developments and are anticipated to be included in the mine plan in 2025.

Lion One Metals has new operations established in late 2023 at its 100%-owned Tuvatu Alkaline Gold Project, Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.