Lion One Metals Ltd. [LIO-TSXV; LOMLF-OTCQX; LLO-ASX] reported results from drill hole TUDDH-608, a direct follow-up to the TUG-141/TUDDH-601 high-grade zone discovery, at its fully permitted Tuvatu alkaline gold project in Fiji.
TUDDH-608 intersected 19.60 metres at 21.16 g/t gold from 594.5-614.1 metres, which includes a zone of 16.20 metres at 25.28 g/t gold from 596.7-612.9 metres.
The dip of this hole at this depth was approximately 60 degrees, equating to a true horizontal width of 11.85 metres.
TUDDH-608 was drilled from surface at an azimuth of approximately N090degreeE, aimed at intersecting the TUG-141/TUDDH-601 high-grade zone at a high angle to determine the true width of the high-grade zone at this location.
TUDDH-608 intersected high-grade gold mineralization approximately 20 metres north of subvertical hole TUDDH-601, and 15 metres below the discovery hole TUG-141. The trace of the currently drilling TUG-147 drillhole, designed to intersect the high-grade mineralized zone an additional 90 metres to the north of TUDDH-608. TUG-147 is expected to cross the target rocks in the next 7-10 days.
Sergio Cattalani, Sr. Vice-President of Exploration, stated: “This is yet another exceptional set of results from the ongoing drilling of the high-grade zone defined by the previous drill holes TUG-141 and TUDDH-601. Our current interpretation of this portion of the 500 Zone feeder is that of a wide zone of dilation associated with the interplay of major structural corridors (UR1 and UR4) and the main lithological contact between monzonite and andesite that has the potential to extend for tens to hundreds of meters both vertically and along the NS direction. True widths exceeding 10m at the narrower apex of this dilational zone suggest a significant increase in gold ounces once this zone has been adequately drilled off, and this, independent of the rest of the extensive vertical 500 zone feeder that is known to exceed 1100m in vertical extent. We will continue to expand this critical zone of high-grade mineralization with ongoing drilling both from surface as well as from the underground decline.”
Lion One’s flagship asset is 100%-owned, fully permitted high-grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7-km diameter alkaline gold system.