Lion One Metals Reveals Bonanza-Grade Hits At Tuvatu Gold Project

Lion One Metals Ltd (ASX:LLO, TSX-V: LIO) has revealed bonanza-grade gold results from ongoing drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Highlight assays from infill and grade control drilling in the Zone 2 area of Tuvatu include:

  • 226.55 g/t gold over 0.6 metres from 84.6 metres depth (including 448.98 g/t over 0.3 metres)
  • 18.35 g/t gold over 4.8 metres from 128.9 metres depth (including 40.99 g/t over 0.6 metres)

These drill intersections are all located in the near surface portion of Tuvatu and are scheduled for mining in the short term.

Ongoing mining operations

The Tuvatu Alkaline Gold Project is currently in the pilot plant stage of operations.

It comprises the high-grade Tuvatu alkaline gold deposit, the underground gold mine, a pilot plant and an assay lab.

Mining operations are currently advancing in Zone 2 and Zone 5.

Production tonnes expected in mid-May

A total of 2,630 metres of sludge hole drilling has been completed in advance of longhole mining in Zone 2.

In Zone 5, airleg stoping on the UR2 lode is ongoing, with two leadings stopes underway and sublevels being driven for a gallery stope.

Longhole production drilling is expected to start in both Zone 2 and Zone 5 in late April, generating production tonnes in mid-May.

Infrastructure upgrade

Lion has acquired two remote-capable loaders required to facilitate the extraction of material from longhole stopes.

These loaders will enable increased production from the mine.

Additionally, the first of two blowers ordered to upgrade the CIL  (carbon-in-leach) circuit has arrived on site and will be installed this month.

Installation of the new blowers is anticipated to further improve aeration and recoveries in the CIL circuit.

Lion had cash of C$13.45 million at the end of December 2023.

 

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