Lion One drills 3.9 metres of 33.4 g/t gold at Tuvatu, Fiji

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Lion One Metals Ltd. [LIO-TSXV; LOMLF-OTCQX; LY1-FSE] reported further high-grade intercepts from two recently completed drill holes as part of continuing deep extensional stepout drilling from the company’s 100%-owned Tuvatu gold project in Fiji.

Deep feeder zone 500 now extends over 300 metres vertically and 150 metres laterally. The weighted average grade of 23 g/t gold from zone 500 mineralized intercepts is 2.6 times higher than average grade of resource. Zone 500 connects with base of existing resource at approximately 470 metres in depth. The drilled extent of Tuvatu system increased by 53% to an approximate depth of 720 metres.

Drill highlights include 33.40 g/t gold over 3.90 metres from downhole depth of 629.30 metres in hole TUDDH544-W2, including 105.0 g/t gold over 0.30 metres from 629.6 metres; 65.0 g/t gold over 0.30 metres from 630.2 metres; 112.0 g/t gold over 0.30 metres from 631.1 metres; 48.74 g/t gold over 0.6 metres from downhole depth of 651.50 metres; and 33.06 g/t gold over 0.6 metres from downhole depth of 658.2 metres in hole TUDDH544-W1.

Sergio Cattalani, Lion One’s senior vice-president, exploration, commented: “High-grade mineralization in deep feeder zone 500 has now been demonstrated to extend over an area approximately 150 metres along strike and 300 metres vertically with an overall calculated weighted average grade of greater than 23 g/t gold; zone 500 mineralization will add significantly to the overall gold inventory of the Tuvatu orebody. Furthermore, an improved understanding of the orientation of the 500 zone now allows us to connect this high-grade feeder to the base of the existing resource. We continue to plan additional drilling to test the lateral and vertical extents of this zone, which remains open in all directions.”

Deep feeder zone 500

These most recent intercepts reported above are believed to be the continuation of the interpreted deep feeder structure that encountered 55.43 g/t gold over 12.70 metres in hole TUDDH500, 55.44 g/t gold over 2.30 metres in hole TUDDH533 and 24.92 g/t gold over 3.70 metres in TUG-135 among many others.

This important gold-bearing structure has now been intersected by multiple holes, including TUDDH500, 500W1, 500W2, TUDDH533, 533W1, TUDDH528, TUDDH517, 517W1, TUDDH514, 514W1, TUDDH544W1, TUDDH544W2, TUG135 and TUG136 (results pending). At 33.40 g/t gold over 3.90 metres, the intercept reported here from TUDDH544W2 represents one of the best overall downhole intercepts to date, for holes drilled at a high angle to the 500 zone structure.

The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu comprises 1.12 million tonnes Indicated at 8.17 g/t gold (294,000 oz) and 1.3 million tonnes Inferred at 10.60 g/t gold (445,000 oz) at a cut-off grade of 3 g/t gold.

Stephen Mann resigned from the board of directors.


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