Lion One Metals drills 236.00 g/t gold over 0.4 metres at Tuvatu Gold Mine, Fiji

Lion One Metals Limited [TSXV: LIO); OTCQX: LOMLF] reported significant new high-grade gold results from 4,123.8 metres of underground infill and grade control drilling at its 100%-owned Tuvatu Alkaline Gold Project, Fiji. Drilling is focused on the Zone 5 area of the deposit, which is currently being mined.

Drilling was conducted from two near-surface underground drill stations. The company intersected high-grade mineralized structures in 29 drill holes targeting the UR2 lode down-dip of current underground developments. Most of the drill holes did not exceed 150 metres in length and most of the high-grade drill intercepts are located within 50 metres of current underground workings.

Drill results include multiple bonanza grade gold intercepts over narrow widths, such as 236.00 g/t over 0.4 metres, 101.58 g/t over 0.5 m, 102.35 g/t over 0.3 m, 94.23 g/t over 0.3 m, and 89.63 g/t over 0.4 m. Due to the proximity of drill results to existing workings there is a strong probability that these intercepts can be incorporated into the mine plan in the next six to twelve months.

Tuvatu is a high-grade narrow vein alkaline gold deposit and bonanza grade drill results are not uncommon on the project. In January the company released the highest-grade assay ever returned from Zone 5 drilling; 2,749.86 g/t gold over 0.3 metres. Previous high-grade drill results from Zone 5 include 1,517.79 g/t gold over 0.3 metres, 1,568.55 g/t over 0.3 metres and 1,986.23 g/t gold over 0.6 metres.

Highlights of new drill results: 236.00 g/t gold over 0.4 metres (TGC-0345, from 109.42 m depth); 25.89 g/t Au over 3.0 m (including 101.58 g/t Au over 0.5 m g/t) (TGC-0359, from 110.7 m depth); 16.85 g/t Au over 3.0 m (including 38.27 g/t Au over 0.9 m) (TGC-0339, from 104.7 m depth); 18.26 g/t Au over 2.5 m (including 89.63 g/t Au over 0.4 m) (TGC-0332, from 67.14 m depth); 15.36 g/t Au over 2.7 m (including 47.25 g/t Au over 0.3 m) (TGC-0343, from 75.3 m depth); 27.08 g/t Au over 1.5 m (including 94.23 g/t over 0.3 m) (TGC-0343, from 61.7 m depth); 16.34 g/t Au over 2.3 m (including 23.57 g/t over 0.6 m) (TGC-0335, from 102.1 m depth); 29.44 g/t Au over 1.3 m (including 102.35 g/t Au over 0.3 m) (TGC-0347, from 108.96 m depth); 25.96 g/t Au over 1.4 m (including 43.58 g/t Au over 0.6 m) (TGC-0343, from 68.9 m depth) and 14.23 g/t Au over 2.4 m (including 23.37 g/t Au over 0.4 m) (TGC-0327, from 101.9 m depth).

Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known.

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south and northeast-southwest oriented lodes at Tuvatu, as well as several western lodes. 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 portion of the UR2 lode down-dip of current underground developments. The UR2 lode is one of the main north-south oriented lodes at Tuvatu. It has a strike length of approximately 600 metres and dips steeply to the east. Mine development is currently taking place along the UR2 lode at the 1100 and 1102 levels of the mine, which are the deepest levels in Zone 5, as well as

The drill holes reported in this news release are oriented approximately perpendicular to mineralization. The reported intercepts therefore approximate the true width of mineralization. Tuvatu consists of high-grade narrow vein mineralization. The headline intercept of 236.00 g/t gold over 0.4 metres has an approximate true width of 0.4 metres, as reported. The minimum mining width at Tuvatu is approximately 1.5 metres. In reporting drillhole intercepts Lion One uses a grade composite cut-off of 3 g/t gold with <1 m internal dilution at <3 g/t. Drill hole intervals that are <3 g/t are below cutoff.

Lion One Metals has operations established in late 2023 at its Tuvatu Alkaline Gold Project. 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.