Lion One Metals posts record gold production at Tuvatu, Fiji
Lion One Metals Ltd. [TSXV-LIO; OTCQX-LOMLF; ASX-LLO] reported record preliminary gold production at Tuvatu for the month of June and significantly expands the surface gold-in-soil anomaly to the south of Tuvatu, Fiji. The company also announces an increase in the planned mill expansion to 600-700 TPD, and files an updated NI43-101 compliant Technical Report with an effective date of June 24, 2024.
Gold production at Tuvatu has steadily increased since the completion of mill commissioning in December 2023/January 2024. A step change in production occurred in June following the commencement of mechanized production. The total gold recovered for the month of June up to and including June 24th is approximately 1,370 oz gold, with projected gold recovered of approximately 1,700 oz for the month.
Soil sampling to the south of Tuvatu has revealed a 650- metre extension of anomalous gold at surface. High-grade gold in soil results were recovered along a north-south corridor directly south of and along strike from the known deposit at Tuvatu. The gold anomaly is coincident with wider arsenic, lead, and zinc anomalies, which are known pathfinders for gold, thereby widening the potential footprint of the gold mineralization. The Tuvatu deposit has a north-south strike length of approximately 950 metres. The southern soil extension therefore represents a potential 70% increase in the overall strike length of Tuvatu. These soil results are a significant discovery at Tuvatu and represent a prime target for near-mine exploration and resource expansion. They highlight the potential for more discovery both near-mine at Tuvatu and regionally throughout the Navilawa Caldera.
The planned mill expansion has been increased to 600-700 TPD. The current pilot plant operation has a name plate capacity of 300 TPD, and the originally planned expansion was to 500 TPD. The expansion has now been increased to 600-700 TPD, which represents a doubling of the name plate capacity at Tuvatu. The expansion is expected to be complete in mid-2025.
Gold production at Tuvatu has steadily increased since the first gold pour in October 2023 and the completion of mill commissioning in December 2023/January 2024.
During the period from October 2023 to May 2024, the majority of the material mined at Tuvatu was development material, with limited production material resulting from handheld mining methods. Mechanized production mining commenced in mid-May with the first long hole stope blast occurring on May 18. The proportion of production material being processed at Tuvatu has therefore increased in May and June, with further increases expected as the mine continues to develop.
Long hole stoping is ongoing both in Zone 2 and in Zone 5. In Zone 2, where the deposit is characterized by a large stockwork zone of mineralization, the mining widths are 10 m to 12 m wide. In Zone 5, where the deposit is characterized by high grade narrow vein mineralization, the mining widths are 0.9 m to 1.2 m wide.
The Tuvatu processing plant is a modular processing plant originally planned for a staged expansion up to 500 TPD. As a result of the successful mining operations and the increased throughput achieved at the 300 TPD capacity, the company is now planning to expand plant operations from 300 TPD directly to 600-700 TPD. This is expected to double mill throughput and production at Tuvatu. The plant expansion is anticipated to be complete in mid-2025.
As part of Lion One’s regional exploration program, a near-mine soil sampling program has been completed.
Assay results from the West Grid indicate a clear 650 m long north-south gold anomaly immediately to the south of and along strike from the known mineralization at Tuvatu.
The Tuvatu deposit has a known strike length of 950 metres and therefore these results indicate a potential 70% increase in the strike length of Tuvatu.
An independent mineral resource estimate (MRE) has been carried out for gold contained in the portion of the Tuvatu Property that is currently being developed and mined. Refer to original press release for the various resource tonnage and grade summaries.
Lion One Metals established new operations in late 2023 at its 100%-owned Tuvatu Alkaline Gold Project in Fiji. 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.