These results complement the excellent results obtained by the infill drill program completed earlier this year and reported on Feb. 23, 2022. The additional results provided by the metallurgical drill program reported here will be applied to the ongoing remodelling of the Tuvatu orebody that will inform the resource update scheduled for Q1 2023. Results of the metallurgical study that will be based on the material provided by this drilling program will be reported as they are received.
TUDDM-001 intersecting the URW1 mineralized vein returned 14.96 g/t gold over 24.0 metres from 81.8-105.8 metres, including 105.19 g/t Au over 0.3m from 86.9-87.2m; 18.67 g/t Au over 0.6m from and 1.4-92.0m; 19.43 g/t Au over 0.6m from 93.2-93.8m; 26.59 g/t Au over 0.9m from 95.6-96.5m; 14.80 g/t Au over 0.6m from 96.5-97.1m; 23.43 g/t Au over 0.6m from 97.1-97.7m; 13.63 g/t Au over 0.6m from 97.7-98.3m; 33.76 g/t Au over 0.6m from 98.3-98.9m; 22.36 g/t Au over 0.6m from 98.9-99.5m; 6.04 g/t Au over 0.9m from 99.5-100.4m; 78.64 g/t Au over 2.4m from 103.4-105.8m which includes 9.44 g/t Au over 0.6m from 104.6-105.2m and 297.70 g/t Au over 0.6m from 105.2-105.8m.
TUDDM-003 intersecting the URW1 mineralized vein returned 65.13 g/t Au over 3.2m from 78.8-82.0m, including 98.88 g/t Au over 2.1m from 78.8-80.9m which includes 58.18 g/t Au over 0.3m from 78.8-79.1m; 624.81 g/t Au over 0.3m from 79.1-79.4m; 23.27 g/t Au over 3.3m from 118.9-122.2m, including 50.67 g/t Au over 1.5m from 118.9-120.4m which includes 19.49 g/t Au over 0.9m from 118.9-119.8m and 7.45 g/t Au over 0.6m from 119.8-120.4m.
TUDDM-004 intersecting the SKL and URW1 mineralized veinsg returned 260.44 g/t Au over 0.3m from 55.7-56.0m; 213.52 g/t Au over 0.9m from 56.6-57.5m; 40.08 g/t Au over 0.9m from 78.2-79.1m; 10.03 g/t Au over 3.0m from 130.6-133.6m, including 59.82 g/t Au over 0.3m from 130.6-130.9m; 11.39 g/t Au over 0.3m from 130.9-131.2m and 13.64 g/t Au over 0.3m from 131.2-131.5m.
TUDDM-005 intersecting the Murau (M) mineralized vein returned 9.30 g/t Au over 5.4m from 127.7-133.1m, including 31.56 g/t Au over 0.6m from 128.9-129.5m; 14.99 g/t Au over 1.2m from 129.5-130.7m; 6.08 g/t Au over 0.9m from 132.2-133.1m; 22.80g/t Au over 1.5m from 140.3-141.8m, including 9.55 g/t Au over 0.3m from 140.6-140.9m; 10.54 g/t Au over 0.3m from 140.9-141.2m; 58.59 g/t Au over 0.3m from 141.2-141.5m; and 32.03 g/t Au over 0.3m from 141.5-141.8m.
TUDDM-006 intersecting the Murau (M) Lodes returned 9.87g/t Au over 3.9m from 141.8-145.7m, including 10.01g/t Au over 1.2m from 141.8-143.0m; 13.74g/t Au over 0.6m from 143.3-143.9m;and 13.49g/t Au over 1.2m from 144.5-145.7m.
All six metallurgical drill holes were drilled from surface using wide diameter PQ core (85mm) between June 6 and August 10, 2022. The purpose of the program was to collect samples from areas scheduled for mining in the first 3 years of development. These assays presented are a result of one-eighth split core, with the remaining seven-eighths being sent to Bureau Veritas metallurgical laboratory in Vancouver, Canada for test work to assist in the design of optimized recoveries. The URW1 lode is interpreted to strike north-south and dip steeply east and has a true width of approximately 1 to 7 metres. The Murau lodes are interpreted to strike east-west with a moderate southerly dip with multiple lodes of true-width between 0.3 and 4 metres. The SKL lodes are dip subhorizontally, with true-widths of between 0.3 and 1 metre.
Lion One CEO Walter Berukoff commented, “These latest results underscore the continuous, high-grade nature of the mineralization at Tuvatu. Each batch of drill results adds enormous value to the project in both addition of ounces to the total metal budget as well as clarification of important upside potential.”
Lion One’s flagship asset is the 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.