Lion One Metals (ASX:LLO) has received ‘significant, high-grade’ gold results from ongoing grade control drilling at its Tuvatu Alkaline Gold Project in Fiji.
The $226.95 million market capitalisation company says the drill results will be used to help optimise mine development and mineral extraction in the Zone 2 areas.
‘Significant’ drill results include drillhole TGC-0071 with 6m @ 19.78g/t Au, including 3m @ 31.52g/t Au from 114m; and drillhole TGC-0078 with 2.4m @ 25.25g/t Au, including 0.3m @ 149.63g/t Au from 95.2m.
Commenting on the drill results, Lion One Metals Chief Executive Officer (CEO) and Chairman Walter Berukoff says: “The results from our grade control drilling continue to exceed expectations. The program is continuously returning very high-grade material with excellent mining widths.
“As we increase our drill density at Tuvatu, we continue to identify very high-grade zones upon which to focus and prioritise our mining plan”
As we increase our drill density at Tuvatu, we continue to identify very high-grade zones upon which to focus and prioritise our mining plan and which will help us to add additional tonnage to our growing stockpile of high-grade material as we ramp up to our first gold production in Q4 2023.”
Drilling focused on the Zone 2 area of Tuvatu, primarily on the URW1, URA1, and Murau lode systems.
Zone 2 is located in the northwest part of the system along the western decline. It encompasses a number of distinct lode systems, including the URW1, URA1, and Murau lode systems.
A total of 83 grade control drillholes have been completed to date in the Zone 2 and Zone 5 areas at Tuvatu.
Lion One Metals is an ASX-listed gold explorer and producer focused on its flagship Tuvatu Alkaline Gold Project on the Viti Levu island in Fiji.
Write to Aaliyah Rogan at Mining.com.au
Images: Lion One Metals
