Lion One Metals drills 12.45 metres of 21.31 g/t gold at Tuvatu, Fiji
Lion One Metals Ltd. [LIO-TSXV; LOMLF-OTCQ; LLO-ASX] reported recent, shallow and deep high-grade gold drill results from two diamond drill holes, both still in progress, at its 100%-owned, fully permitted Tuvatu alkaline gold project, Fiji.
Hole TUDDH520 encountered high-grade gold mineralization including 12.45 metres grading 21.31 g/t gold, including 0.35 metres grading 544.00 g/t gold in a shallow intercept through the URW1 lode at a downhole depth beginning at 90.10 metres, or a depth below surface of approximately 75 metres. Historic drilling in this area only returned 2 metres of 6.4 g/t gold (TUDDH076 from 101 metres; however, these new results show a wider width, multiple structures and visible gold indicating a stronger mineralized system in the near surface.
An older drill hole, TUDDH160, encountered 0.50 metres grading 1,614 g/t gold in the URW1 lode about 320 metres below this new intercept. Lion One now takes the view that the URW1 lode is likely a deep-rooted high-grade lode structure worthy of further extensional deep testing.
An intercept of 2.35 metres grading 4.00 g/t gold, including 0.45 metres grading 13.58 g/t gold was encountered deeper in hole TUDDH520 at a downhole depth of 125.85 metres. This intercept corresponds to the URW2 lode.
Hole TUDDH520 is still in progress. Hole TUDDH517W, a north-oriented diamond drill hole, encountered 0.3 metres grading 114.10 g/t gold beginning at a downhole depth of 594.60 metres. This intercept is believed to be in a splay structure coming off of a nearby deep high-grade lode being targeted by Lion One. This hole is still in progress.
“We are starting to see a clearer picture develop around which lode structures are deep tapping and likely prospective for high-grade gold mineralization,” commented Dr. Quinton Hennigh, technical adviser to Lion One. “Our recent shallow drilling shows that the URW1 lode is one of these. We are seeing very high gold grades in this lode, a likely product of deep-sourced gold-rich fluids having utilized this structure as a main conduit at the time of gold deposition.”
The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. An independent mineral resource for Tuvatu comprises 1,007,000 tonnes indicated at 8.50 g/t gold (274,600 oz) and 1,325,000 tonnes inferred at 9.0 g/t gold (384,000 oz) at a cut-off grade of 3 g/t gold.