Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)has returned multiple high-grade intercepts in ongoing drilling, significantly extended the drill-confirmed vertical extent of Deep Feeder Zone 500, and further confirmed the alkaline deposit model and depth potential of the Tuvatu Alkaline Gold Project in Fiji.
Extending Deep Feeder Zone 500
The latest drilling at Tuvatu extends Deep Feeder Zone 500 approximately 300 m below the base of the current resource, with two further holes intersecting high grade mineralisation an additional 350m deeper, demonstrating vertical continuity of the Tuvatu gold system of at least 1,150m. The recent drilling comprised 11 drill holes for 9113.4 m of drilling.
Top Intercepts include:
- 23.14 g/t Au over 3.00m inc. 118.60 g/t Au over 0.30m from 571.50m (TUG 138)
- 25.83 g/t Au over 2.70m inc. 43.64 g/t Au over 0.30m from 582.50m (TUDDH 573W1)
- 87.83 g/t Au over 1.50m inc. 108.41 g/t Au over 0.60m from 445.10m (TUG 136)
Senior Vice President Exploration, Sergio Cattalani, said this deep extensional drilling not only demonstrates exceptional grades at depth but further confirms the potential for a deep-rooted gold bearing alkaline gold system like the example at the nearby Vatukoula gold system in Fiji where historical gold production exceeds seven million ounces and exploration (and gold production) is ongoing.
“With the completion of the re-entry hole TUDDH-494, high-grade mineralisation in the deep feeder Zone 500 has now been demonstrated to extend for over 650 m vertically below the base of the current resource,” Mr Cattalani said.
“Within this interval, bonanza grades over realistic mining widths have been confirmed and modelled as multiple sub-parallel to locally interconnected lodes with highest grades forming a steeply (approximately -80°) NE-plunging shoot of about 200m wide, by about 90m thick, and approximately 300m vertically below the overlying resource.
“While this upper 300m portion of the feeder zone alone should add significantly to the overall resource at Tuvatu, the lower 350m remains essentially undrilled.”
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