Lion One Metals (TSX-V:LIO) has reported its quarterly preliminary operating results from the Tuvatu Gold Mine in Fiji, highlighting gold recovery of 3,796 ounces at an average head grade of 4.3 grams per tonne gold.
Gold recovery increased by 15% from the previous quarter, while production rose by 39% compared with Q1 2026. Lion One also produced 882 ounces of gold from inventory drawdown and the shipment and refining of gold-laden carbon from the leach circuit, bringing total production to 4,678 ounces in Q3 2026.
Underground mine development totalled 1,539m for the quarter, down slightly from 1,660m in Q2 2026 but above the long-term average of 1,445m between January 2025 and September 2026.
Lion One reports that its mill performance remained strong with a total of 32,588 tonnes of mineralised material processed at an average of 354 tonnes per day. Quarterly mill utilisation was at 95.1%, which includes several months where the utilisation was at 97.4% and 98.3%.
Gold recovery was 83.8%, down from a record 84.9% in Q2 2026. Lion One says the 1.1 percentage-point decline was offset by a 16.5% increase in mill throughput. Average head grade remained steady at 4.3g/t gold.
The processing team deliberately increased gold production through inventory drawdown and carbon shipments, while focusing on improving gravity recovery and carbon stripping.
Around 8.8 tonnes of carbon was removed from the leach circuit as part of the circuit optimisation activities, with the residual gold shipped off for processing and recovery.
New underground drill in operation
Lion One says its new Boart Longyear LM90 underground drill has arrived at Tuvatu ahead of schedule and is now operational following operator training.
The drill is targeting Zone 500 and the West Zone from underground to support resource expansion and upgrades in these key areas.
Lion One says the drill core allows it to drill more effectively from deep underground for the first time, enabling shorter, faster, and lower-cost holes with improved intersection angles.
The company also confirmed that its agreement with Global One Media, announced on 24 September 2026, covers a six-month term at a total cost of US$39,000 ($55,578).
Lion One Metals is an emerging Canadian gold producer with a focus on the wholly owned Tuvatu Alkaline Gold Project in Fiji.
Write to Amy Rotman at Mining.com.au
Main image: Lion One Metals
