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Lion One Drills 1517.79 g/t Gold over 0.3 M at Tuvatu Gold Mine in Fiji

Post author By admin
Post date December 17, 2024

North Vancouver, British Columbia–(Newsfile Corp. – December 17, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from Zone 5 infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for infill and grade control drilling in the Zone 5 area of Tuvatu. Drill results include multiple bonanza grade gold assays such as 1517.79 g/t, 513.50 g/t, 113.76 g/t, 137.50 g/t, and 115.25 g/t (see Table 1 below). These results are all located proximal to underground development in the near-surface portion of the mine. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes. Previous drill results from the Zone 5 area are available in the June 12, 2024, June 5, 2024, and December 13, 2023 news releases.

Top New Drill Results:

1517.79 g/t Au over 0.3 m (TGC-0237, from 42.6 m depth)
513.50 g/t Au over 0.3 m (TGC-0263, from 60.47 m depth)
67.45 g/t Au over 0.75 m (TGC-0254, from 90.75 m depth)
17.89 g/t Au over 2.7 m (including 113.76 g/t Au over 0.3 m) (TGC-0225, from 94.6 m depth)
25.73 g/t Au over 1.8 m (including 96.78 g/t Au over 0.4 m) (TGC-0251, from 46.9 m depth)
18.42 g/t Au over 2.5 m (including 62.83 g/t Au over 0.4 m) (TGC-0240, from 44.0 m depth)
30.99 g/t Au over 1.4 m (including 137.50 g/t Au over 0.3 m) (TGC-0239, from 97.8 m depth)
64.25 g/t Au over 0.6 m (TGC-0256, from 98.11 m depth)
72.55 g/t Au over 0.5 m (TGC-0245, from 91.0 m depth)
115.25 g/t Au over 0.3 m (TGC-0250, from 52.7 m depth)

*All drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 for additional data.

Figure 1. Location of the Zone 5 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Yellow dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5 drilling looking approximately east-northeast. Zone 5 drilling is targeting the up-dip and down-dip extensions of the mineralized lodes above and below current underground developments, shown in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_001full.jpg

Table 1. Highlights of composited grade control and infill drill results in the Zone 5 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 3 in the appendix.

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0237		42.6	42.9	0.3	1517.79
TGC-0263		60.5	60.8	0.3	513.50
TGC-0254		90.8	91.5	0.8	67.45
TGC-0225		94.6	97.3	2.7	17.89
	including	95.8	97.0	1.2	37.40
	which includes	96.1	96.4	0.3	113.76
TGC-0251		46.9	48.7	1.8	25.73
	including	46.9	47.6	0.7	59.42
	which includes	47.2	47.6	0.4	96.78
TGC-0240		44.0	46.5	2.5	18.42
	including	46.1	46.5	0.4	62.83
TGC-0239		97.8	99.2	1.4	30.99
	including	97.8	98.1	0.3	137.50
TGC-0256		98.1	98.7	0.6	64.25
TGC-0245		91.0	91.5	0.5	72.55
TGC-0250		52.7	53.0	0.3	115.25
TGC-0247		61.1	62.6	1.5	19.11
TGC-0212		69.5	69.8	0.3	90.50
TGC-0224		25.8	28.5	2.7	9.85
	including	25.8	26.4	0.6	27.65
TGC-0259		57.4	57.7	0.3	86.50
TGC-0231		92.8	96.0	3.2	7.59
	including	95.0	95.6	0.6	26.34
TGC-0210		61.2	62.7	1.5	15.70
	including	62.1	62.4	0.3	57.08
TGC-0228		90.8	91.1	0.3	77.50
TGC-0247		89.1	89.4	0.3	75.86
TGC-0261		97.1	100.2	3.2	7.00
	including	97.8	98.1	0.3	26.35
	and	98.1	98.4	0.4	15.55
TGC-0263		63.2	65.6	2.4	8.98
	including	63.5	64.1	0.6	26.30
TGC-0212		90.3	90.9	0.6	33.92
	including	90.3	90.6	0.3	58.64
TGC-0226		28.5	28.8	0.3	63.72

*All drill intersects are downhole lengths

Zone 5 Drilling

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be the feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.

The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3 lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly above and below current underground developments. The drilling targeted a 320 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth.

Zone 5 grade control drilling is being conducted from three underground locations: the 1130 drill cuddy, the 1135 drill cuddy, and the 1090 drill cuddy. These drillholes are designed to intersect the mineralized lodes in a perpendicular to sub-perpendicular orientation such that the mineralized intervals approximate the true width of the lodes. Grade control drilling is being conducted on 10 m centers to provide a detailed understanding of the geometry and mineralization of the Zone 5 lodes. The purpose of the current Zone 5 grade control drill program is to enhance the mine model and inform stope design in advance of mining in the target areas. Highlights of the Zone 5 drilling reported here are shown in Figure 2.

Figure 2. Zone infill and grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. View is looking down with north to the left. The primary areas targeted by the Zone 5 drilling are the up-dip and down-dip areas of the UR2 and URW3 lodes above and below current underground developments. These areas are scheduled for near-term mining. Drill holes are oriented perpendicular to sub-perpendicular to the mineralized lodes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_002full.jpg

Competent Persons Statement

The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established 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.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 2. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0210	1876384	3920430	96	114.6	20.9	85.8
TGC-0211	1876384	3920429	96	140.5	21.6	85.6
TGC-0212	1876381	3920532	131	80.5	14.3	115.3
TGC-0213	1876383	3920628	129	65.0	12.5	125.0
TGC-0214	1876384	3920432	96	106.7	22.1	70.8
TGC-0215	1876380	3920529	130	134.2	6.3	150.0
TGC-0216	1876384	3920431	95	127.7	14.5	81.2
TGC-0217	1876383	3920628	129	60.7	16.4	135.0
TGC-0218	1876384	3920431	95	117.2	14.7	81.0
TGC-0219	1876380	3920529	130	129.2	8.6	140.3
TGC-0220	1876383	3920627	130	80.5	21.8	11.2
TGC-0221	1876384	3920430	96	105.9	22.2	68.1
TGC-0222	1876384	3920429	96	115.8	20.5	11.0
TGC-0223	1876384	3920424	96	154.8	22.9	180.0
TGC-0224	1876380	3920530	130	124.9	4.8	140.0
TGC-0225	1876382	3920627	129	76.4	22.4	115.0
TGC-0226	1876380	3920529	130	125.6	11.1	140.2
TGC-0227	1876384	3920425	94	155.6	-1.8	181.1
TGC-0228	1876380	3920530	130	120.8	8.5	140.0
TGC-0229	1876383	3920627	129	75.9	15.3	11.2
TGC-0230	1876383	3920424	96	170.7	22.4	268.4
TGC-0231	1876383	3920627	129	77.3	15.4	115.1
TGC-0232	1876383	3920627	127	76.2	-49.2	11.2
TGC-0233	1876384	3920627	127	78.0	-48.5	166.4
TGC-0234	1876381	3920531	129	98.3	-19.1	99.8
TGC-0235	1876384	3920627	127	80.0	-36.5	11.1
TGC-0236	1876383	3920627	128	79.8	-36.1	146.0
TGC-0237	1876384	3920428	95	108.1	13.7	82.5
TGC-0238	1876381	3920531	129	90.7	-13.7	10.7
TGC-0239	1876381	3920531	129	90.7	-19.4	130.8
TGC-0240	1876384	3920428	95	99.9	13.0	122.2
TGC-0241	1876383	3920627	129	82.8	19.2	110.0
TGC-0242	1876384	3920428	95	92.0	13.2	95.4
TGC-0243	1876384	3920626	127	95.7	-37.1	140.1
TGC-0244	1876384	3920429	95	84.8	13.7	100.7
TGC-0245	1876381	3920532	129	88.0	-13.6	130.8
TGC-0246	1876384	3920625	127	114.9	-28.7	140.0
TGC-0247	1876384	3920430	94	83.7	-4.0	110.3
TGC-0248	1876378	3920532	129	82.4	-15.3	130.9
TGC-0249	1876384	3920626	127	103.4	-31.1	140.1
TGC-0250	1876384	3920429	94	97.3	-3.8	110.0
TGC-0251	1876384	3920429	94	105.1	-4.4	86.0
TGC-0252	1876381	3920532	129	76.0	-18.3	24.6
TGC-0254	1876380	3920532	129	75.9	-15.1	130.0
TGC-0255	1876384	3920428	94	114.5	-4.1	80.0
TGC-0256	1876381	3920531	128	92.7	-22.1	136.9
TGC-0257	1876384	3920428	94	123.3	-4.4	80.2
TGC-0259	1876384	3920427	94	131.0	-4.7	83.1
TGC-0261	1876380	3920530	129	115.1	-11.2	140.0
TGC-0263	1876384	3920429	94	82.2	-7.8	120.8

Table 3. Composite results from drillholes reported in this news release (composite grade >3.0 g/t Au)

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0210		40.5	40.8	0.3	6.12
TGC-0210		45.0	46.2	1.2	6.36
TGC-0210		47.4	47.7	0.3	5.45
TGC-0210		61.2	62.7	1.5	15.70
	including	61.2	62.1	0.9	4.08
	and	62.1	62.4	0.3	57.08
	and	62.4	62.7	0.3	9.20
TGC-0210		65.4	65.7	0.3	26.66
TGC-0210		78.6	79.8	1.2	7.59
	including	78.6	78.9	0.3	4.46
	and	78.9	79.2	0.3	0.82
	and	79.2	79.8	0.6	12.54
TGC-0211		63.6	63.9	0.3	9.60
TGC-0211		66.3	66.9	0.6	21.85
	including	66.3	66.6	0.3	39.97
	and	66.6	66.9	0.3	3.72
TGC-0212		37.1	39.8	2.7	4.56
	including	37.1	37.4	0.3	15.20
	and	37.4	37.7	0.3	2.58
	and	37.7	38.0	0.3	1.89
	and	38.0	38.3	0.3	5.06
	and	38.3	38.9	0.6	0.13
	and	38.9	39.2	0.3	0.24
	and	39.2	39.5	0.3	5.90
	and	39.5	39.8	0.3	9.87
TGC-0212		41.0	41.6	0.6	3.63
TGC-0212		43.1	44.6	1.5	9.17
	including	43.1	44.0	0.9	13.38
	and	44.0	44.3	0.3	<0.01
	and	44.3	44.6	0.3	5.71
TGC-0212		69.5	69.8	0.3	90.50
TGC-0212		74.7	75.6	0.9	4.69
	including	74.7	75.0	0.3	3.65
	and	75.0	75.3	0.3	6.36
	and	75.3	75.6	0.3	4.06
TGC-0212		86.1	86.7	0.6	11.45
	including	86.1	86.4	0.3	7.81
	and	86.4	86.7	0.3	15.09
TGC-0212		90.3	90.9	0.6	33.92
	including	90.3	90.6	0.3	58.64
	and	90.6	90.9	0.3	9.19
TGC-0213		98.0	98.3	0.3	38.50
TGC-0214		45.3	48.0	2.7	4.22
	including	45.3	45.6	0.3	3.75
	and	45.6	45.9	0.3	5.00
	and	45.9	46.2	0.3	0.96
	and	46.2	46.5	0.3	1.95
	and	46.5	46.8	0.3	15.32
	and	46.8	47.1	0.3	2.40
	and	47.1	47.4	0.3	1.66
	and	47.4	47.7	0.3	3.33
	and	47.7	48.0	0.3	3.62
TGC-0215		15.6	15.9	0.3	10.00
TGC-0215		37.8	38.4	0.6	6.20
TGC-0215		97.5	97.8	0.3	10.02
TGC-0215		103.8	104.1	0.3	3.62
TGC-0215		106.5	107.4	0.9	5.97
	including	106.5	106.8	0.3	5.02
	and	106.8	107.1	0.3	1.55
	and	107.1	107.4	0.3	11.35
TGC-0215		109.8	111.0	1.2	13.19
	including	109.8	110.1	0.3	15.89
	and	110.1	110.4	0.3	22.48
	and	110.4	110.7	0.3	6.27
	and	110.7	111.0	0.3	8.11
TGC-0215		126.9	127.5	0.6	19.12
	including	126.9	127.2	0.3	14.40
	and	127.2	127.5	0.3	23.83
TGC-0217		112.7	114.5	1.8	6.14
	including	112.7	113.0	0.3	3.02
	and	113.0	113.3	0.3	10.87
	and	113.3	113.9	0.6	7.23
	and	113.9	114.5	0.6	4.24
TGC-0218		43.8	44.4	0.6	9.60
TGC-0218		61.5	62.7	1.2	9.29
	including	61.5	61.8	0.3	4.44
	and	61.8	62.1	0.3	0.19
	and	62.1	62.4	0.3	26.78
	and	62.4	62.7	0.3	5.76
TGC-0218		66.3	66.9	0.6	3.50
TGC-0219		31.5	31.8	0.3	4.30
TGC-0219		47.4	47.7	0.3	5.45
TGC-0219		54.3	55.5	1.2	3.55
TGC-0219		58.5	58.8	0.3	5.22
TGC-0219		97.8	98.1	0.3	9.99
TGC-0219		111.9	112.2	0.3	6.35
TGC-0219		126.0	126.3	0.3	11.82
TGC-0221		44.7	47.4	2.7	4.03
	including	44.7	45.0	0.3	10.99
	and	45.0	45.3	0.3	2.47
	and	45.3	45.6	0.3	3.47
	and	45.6	45.9	0.3	0.24
	and	45.9	46.2	0.3	<0.01
	and	46.2	46.5	0.3	5.82
	and	46.5	46.8	0.3	6.03
	and	46.8	47.1	0.3	0.50
	and	47.1	47.4	0.3	6.71
TGC-0223		75.6	76.2	0.6	7.46
TGC-0223		78.6	79.2	0.6	4.90
TGC-0223		91.4	92.0	0.6	7.78
TGC-0224		25.8	28.5	2.7	9.85
	including	25.8	26.4	0.6	27.65
	and	26.4	27.3	0.9	5.49
	and	27.3	27.6	0.3	2.18
	and	27.6	27.9	0.3	3.23
	and	27.9	28.5	0.6	5.75
TGC-0224		57.2	57.5	0.3	48.09
TGC-0224		91.7	92.9	1.2	8.81
	including	91.7	92.3	0.6	7.73
	and	92.3	92.9	0.6	9.89
TGC-0224		116.0	116.6	0.6	5.83
TGC-0224		136.1	137.0	0.9	3.33
TGC-0225		93.7	94.0	0.3	4.56
TGC-0225		94.6	97.3	2.7	17.89
	including	94.6	94.9	0.3	4.50
	and	94.9	95.1	0.2	3.66
	and	95.1	95.5	0.4	<0.01
	and	95.5	95.8	0.3	1.31
	and	95.8	96.1	0.3	19.08
	and	96.1	96.4	0.3	113.76
	and	96.4	96.7	0.3	9.14
	and	96.7	97.0	0.3	7.62
	and	97.0	97.3	0.3	3.16
TGC-0226		19.8	20.4	0.6	10.58
	including	19.8	20.1	0.3	17.32
	and	20.1	20.4	0.3	3.84
TGC-0226		28.5	28.8	0.3	63.72
TGC-0226		41.0	41.3	0.3	9.70
TGC-0226		55.4	56.0	0.6	3.10
TGC-0226		56.3	56.6	0.3	4.68
TGC-0226		58.1	58.4	0.3	18.52
TGC-0226		88.4	88.7	0.3	3.97
TGC-0226		91.7	92.9	1.2	5.75
	including	91.7	92.0	0.3	19.58
	and	92.0	92.3	0.3	0.07
	and	92.3	92.6	0.3	0.12
	and	92.6	92.9	0.3	3.22
TGC-0226		104.3	104.6	0.3	5.89
TGC-0226		110.6	110.9	0.3	7.13
TGC-0226		111.8	112.1	0.3	4.46
TGC-0227		100.7	101.0	0.3	36.04
TGC-0227		169.6	169.9	0.3	3.12
TGC-0228		14.9	15.6	0.8	3.39
TGC-0228		21.5	23.0	1.5	6.25
	including	21.5	21.8	0.3	4.60
	and	21.8	22.2	0.4	6.43
	and	22.2	22.6	0.4	8.77
	and	22.6	23.0	0.4	4.65
TGC-0228		32.8	33.4	0.6	29.89
TGC-0228		54.7	55.3	0.6	16.78
TGC-0228		57.8	58.5	0.7	12.64
TGC-0228		87.3	89.3	2.0	9.20
	including	87.3	87.6	0.3	21.49
	and	87.6	88.4	0.8	<0.01
	and	88.4	89.3	0.9	12.98
TGC-0228		90.8	91.1	0.3	77.50
TGC-0228		101.4	101.7	0.3	4.80
TGC-0228		108.5	108.8	0.3	41.99
TGC-0231		92.8	96.0	3.2	7.59
	including	92.8	93.3	0.5	7.66
	and	93.3	93.8	0.5	1.06
	and	93.8	94.3	0.5	4.04
	and	94.3	94.6	0.3	0.18
	and	94.6	95.0	0.5	3.60
	and	95.0	95.6	0.6	26.34
	and	95.6	96.0	0.5	4.31
TGC-0234		24.5	24.8	0.3	18.69
TGC-0234		44.8	47.1	2.3	6.03
	including	44.8	45.1	0.3	3.15
	and	45.1	45.4	0.3	0.30
	and	45.4	45.9	0.5	<0.01
	and	45.9	46.5	0.6	16.87
	and	46.5	46.8	0.3	4.07
	and	46.8	47.1	0.3	4.96
TGC-0234		50.7	51.0	0.3	5.70
TGC-0234		52.2	52.8	0.6	7.07
TGC-0234		54.9	55.8	0.9	3.90
TGC-0234		88.3	88.9	0.6	7.39
TGC-0234		90.6	92.0	1.4	3.62
	including	90.6	90.9	0.3	6.06
	and	90.9	91.7	0.8	0.35
	and	91.7	92.0	0.3	9.92
TGC-0236		116.5	117.1	0.6	4.41
TGC-0237		42.6	42.9	0.3	1517.79
TGC-0237		45.0	46.5	1.5	11.79
	including	45.0	45.3	0.3	41.53
	and	45.3	45.9	0.6	4.84
	and	45.9	46.5	0.6	3.86
TGC-0237		62.3	62.6	0.3	4.70
TGC-0239		97.8	99.2	1.4	30.99
	including	97.8	98.1	0.3	137.50
	and	98.1	98.9	0.8	0.51
	and	98.9	99.2	0.3	5.75
TGC-0240		44.0	46.5	2.5	18.42
	including	44.0	44.3	0.3	5.90
	and	44.3	44.6	0.3	<0.01
	and	44.6	44.9	0.3	8.88
	and	44.9	45.8	0.9	16.99
	and	45.8	46.1	0.3	3.98
	and	46.1	46.5	0.4	62.83
TGC-0240		66.7	67.0	0.3	6.15
TGC-0240		102.6	102.9	0.3	4.33
TGC-0240		117.8	118.4	0.6	14.67
TGC-0241		92.2	94.2	2.0	4.91
	including	92.2	93.1	0.9	6.40
	and	93.1	93.7	0.6	1.15
	and	93.7	94.2	0.5	6.71
TGC-0242		61.6	61.9	0.3	11.58
TGC-0242		71.6	71.9	0.3	3.70
TGC-0242		72.8	73.8	1.0	4.48
	including	72.8	73.5	0.7	3.34
	and	73.5	73.8	0.3	6.95
TGC-0244		55.4	56.3	0.9	4.97
	including	55.4	55.7	0.3	5.24
	and	55.7	56.3	0.6	4.83
TGC-0244		76.2	78.5	2.3	8.37
	including	76.2	76.8	0.6	13.71
	and	76.8	77.4	0.6	9.23
	and	77.4	78.2	0.8	0.56
	and	78.2	78.5	0.3	15.73
TGC-0244		84.1	85.0	0.9	4.37
TGC-0245		82.6	82.9	0.3	3.76
TGC-0245		91.0	91.5	0.5	72.55
TGC-0245		103.9	104.2	0.3	8.42
TGC-0246		131.7	132.0	0.3	4.01
TGC-0246		134.0	134.9	0.9	15.07
	including	134.0	134.3	0.3	31.99
	and	134.3	134.6	0.3	9.12
	and	134.6	134.9	0.3	4.10
TGC-0246		136.4	137.3	0.9	5.62
	including	136.4	137.0	0.6	5.08
	and	137.0	137.3	0.3	6.69
TGC-0247		43.5	43.8	0.3	20.55
TGC-0247		51.0	51.6	0.6	7.11
TGC-0247		61.1	62.6	1.5	19.11
	including	61.1	61.4	0.3	9.08
	and	61.4	61.8	0.4	9.67
	and	61.8	62.6	0.8	27.59
TGC-0247		81.9	82.2	0.3	16.11
TGC-0247		84.9	85.2	0.3	12.24
TGC-0247		86.4	87.3	0.9	10.89
	including	86.4	87.0	0.6	9.59
	and	87.0	87.3	0.3	13.50
TGC-0247		89.1	89.4	0.3	75.86
TGC-0248		53.3	53.6	0.3	4.22
TGC-0248		55.1	55.6	0.4	4.48
TGC-0248		59.1	59.5	0.4	3.54
TGC-0248		61.2	61.6	0.4	3.96
TGC-0248		67.5	67.8	0.3	4.96
TGC-0248		88.0	88.5	0.5	24.99
TGC-0248		92.0	92.6	0.6	11.13
	including	92.0	92.3	0.3	9.59
	and	92.3	92.6	0.3	12.67
TGC-0248		99.3	99.6	0.3	6.21
TGC-0248		103.2	103.5	0.3	4.44
TGC-0250		45.6	46.3	0.7	6.21
	including	45.6	45.9	0.3	9.10
	and	45.9	46.3	0.4	4.05
TGC-0250		52.7	53.0	0.3	115.25
TGC-0250		57.3	58.9	1.6	7.13
	including	57.3	57.6	0.3	6.64
	and	57.6	57.9	0.3	3.52
	and	57.9	58.2	0.3	1.71
	and	58.2	58.5	0.3	1.42
	and	58.5	58.9	0.4	18.55
TGC-0250		68.1	68.5	0.4	5.28
TGC-0250		69.5	69.9	0.4	3.13
TGC-0251		46.9	48.7	1.8	25.73
	including	46.9	47.2	0.3	9.60
	and	47.2	47.6	0.4	96.78
	and	47.6	48.4	0.8	0.10
	and	48.4	48.7	0.3	15.50
TGC-0251		63.8	64.5	0.8	5.56
	including	63.8	64.2	0.5	5.93
	and	64.2	64.5	0.3	4.99
TGC-0254		54.2	54.5	0.3	9.48
TGC-0254		58.3	58.9	0.6	12.55
TGC-0254		90.8	91.5	0.8	67.45
TGC-0254		101.9	102.2	0.3	17.89
TGC-0254		106.1	106.4	0.3	4.02
TGC-0255		49.9	50.2	0.3	9.89
TGC-0255		61.5	61.8	0.3	6.67
TGC-0256		92.8	93.7	0.9	14.66
	including	92.8	93.1	0.3	6.31
	and	93.1	93.4	0.3	0.07
	and	93.4	93.7	0.3	37.59
TGC-0256		98.1	98.7	0.6	64.25
TGC-0256		108.3	108.9	0.6	3.46
TGC-0257		51.2	54.5	3.3	5.26
	including	51.2	51.5	0.3	3.66
	and	51.5	52.1	0.6	0.09
	and	52.1	52.5	0.4	15.98
	and	52.5	53.0	0.6	0.95
	and	53.0	53.3	0.3	9.58
	and	53.3	53.6	0.3	<0.01
	and	53.6	53.9	0.3	4.80
	and	53.9	54.2	0.3	0.12
	and	54.2	54.5	0.3	16.79
TGC-0257		56.9	57.5	0.7	10.19
	including	56.9	57.2	0.4	14.58
	and	57.2	57.5	0.3	4.92
TGC-0259		57.4	57.7	0.3	86.50
TGC-0259		60.0	61.9	1.9	6.98
	including	60.0	60.3	0.3	4.31
	and	60.3	60.6	0.3	0.78
	and	60.6	60.9	0.3	<0.01
	and	60.9	61.9	1.0	11.99
TGC-0261		20.1	20.5	0.4	3.19
TGC-0261		25.3	26.7	1.3	3.54
	including	25.3	25.6	0.3	9.99
	and	25.6	25.9	0.3	<0.01
	and	25.9	26.4	0.4	0.06
	and	26.4	26.7	0.3	5.74
TGC-0261		33.3	34.4	1.1	5.62
	including	33.3	33.6	0.3	3.60
	and	33.6	33.9	0.3	7.12
	and	33.9	34.4	0.5	5.89
TGC-0261		61.6	61.9	0.4	5.34
TGC-0261		63.5	64.3	0.8	4.93
TGC-0261		95.9	96.2	0.3	6.58
TGC-0261		97.1	100.2	3.2	7.00
	including	97.1	97.4	0.3	3.76
	and	97.4	97.8	0.4	0.18
	and	97.8	98.1	0.3	26.35
	and	98.1	98.4	0.4	15.55
	and	98.4	98.7	0.3	4.96
	and	98.7	99.1	0.3	9.95
	and	99.1	99.4	0.4	0.27
	and	99.4	99.9	0.5	0.04
	and	99.9	100.2	0.3	8.31
TGC-0261		115.1	115.5	0.4	3.85
TGC-0261		121.9	123.2	1.3	11.74
	including	121.9	122.2	0.3	34.63
	and	122.2	122.6	0.4	0.08
	and	122.6	122.9	0.3	3.62
	and	122.9	123.2	0.3	11.33
TGC-0261		130.6	130.9	0.3	6.02
TGC-0263		60.5	60.8	0.3	513.50
TGC-0263		63.2	65.6	2.4	8.98
	including	63.2	63.5	0.3	5.61
	and	63.5	64.1	0.6	26.30
	and	64.1	64.4	0.3	5.39
	and	64.4	64.7	0.3	0.33
	and	64.7	65.0	0.3	0.96
	and	65.0	65.6	0.6	3.48
TGC-0263		78.6	79.5	0.9	5.99
	including	78.6	78.9	0.3	3.82
	and	78.9	79.5	0.6	7.08
TGC-0263		83.6	84.2	0.6	5.08
TGC-0263		85.4	85.7	0.3	3.66
TGC-0263		91.8	92.1	0.3	22.76
TGC-0263		97.8	98.1	0.3	9.45

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234067

Energy Junior Mining Lion One Metals Precious Metals

Lion One Announces Results of Annual and Special General Meeting

Post author By admin
Post date December 12, 2024

North Vancouver, British Columbia–(Newsfile Corp. – December 12, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to announce the results of the Company’s annual and special general meeting of shareholders (the “Meeting”) held on December 12, 2024.

At the Meeting, the number of directors of the Company was set at three (3) with the following directors re-elected at the Meeting: Walter Berukoff, Richard Meli, and Kevin Puil. In addition, shareholders of the Company approved the Company’s Omnibus Equity Incentive Compensation Plan as described in the management information circular dated October 29, 2024 (the “Circular”) as well as the re-appointment of Davidson & Company LLP, Chartered Professional Accountants as the auditor of the Company for the ensuing fiscal year.

About Lion One Metals Limited

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233639

Base Metals Blog Junior Mining Precious Metals Project Generators

NEW REPORT | Copper in the US: Opportunities and Challenges

Post author By admin
Post date December 12, 2024

Base Metals Blog Energy Junior Mining Precious Metals

US budget deficit climbs to $367 billion in November on calendar payment shifts

Post author By admin
Post date December 11, 2024

The U.S Treasury building in Washington. · Reuters

By David Lawder

WASHINGTON (Reuters) -The U.S. government posted a $367 billion budget deficit for November, up 17% from a year earlier, as calendar adjustments for benefit payments boosted outlays by some $80 billion compared to the same month in 2023, the Treasury Department said on Wednesday.

The Treasury Department said that without the acceleration of December payments for the Medicare and Social Security programs into November, the deficit last month would have been about $29 billion, or 9% lower than last year.

The health care and pension programs for seniors are two of the government’s largest expenditure items.

But as reported, the November deficit was a record high for that month. Receipts and outlays also were record highs for the month of November, with receipts up 10% to $302 billion, and outlays up 14% to $669 billion.

The deficit for the first two months of the 2025 fiscal year also was a record high for that period – higher than the deficits of the COVID-19 era – reaching $624 billion, up $244 billion, or 64%, from the same period a year earlier. The government’s fiscal year starts on Oct. 1.

Those deficits were also inflated by calendar-related benefit shifts as well as higher receipts in October and November of 2023 due to the expiration of tax payment deferrals tied to California wildfires and other weather-related disasters that year.

Year-to-date receipts as reported were down 7% from a year earlier to $629 billion, while year-to-date outlays were up 18% to $1.253 trillion.

The outlays for the first two months of the fiscal year included a $4 billion, or 30%, increase in Department of Homeland Security spending to $19 billion, largely reflecting Federal Emergency Management Agency spending related to recent hurricanes.

But the Treasury’s interest cost on public debt for the fiscal year’s first two months was flat at $169 billion, despite a $7 billion increase for November.

(Reporting by David Lawder; Editing by Paul Simao)

Original Source: https://finance.yahoo.com/news/buy-dogecoin-while-under-1-092700666.html

Base Metals Energy Granite Creek Copper Junior Mining Metallic Group

Granite Creek Copper Confirms New Mineralized Zone in 2024 Drilling at Carmacks Copper-Gold-Silver Project in Yukon, Canada

Post author By admin
Post date December 10, 2024

VANCOUVER, BC / ACCESSWIRE / December 10, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company”) is pleased to announce drill results from the 2024 drill campaign on at its wholly owned Carmacks copper-gold-silver project located in central Yukon, Canada. As previously mentioned, the Company identified a new zone within the Carmacks project called the Gap Zone (see news release dated October 3, 2024), located between existing high-grade, pit-constrained resources. The exploratory drill program intercepted copper mineralization in all four drill holes, laying the foundation for a follow-up resource definition and expansion drilling campaign. See below for selected drill results.

Table 1 – Selected Assay Results

Drillhole	From(m)	To(m)	Length*(m)	Cu(%)	Au(g/t)	Ag(g/t)
CRM24-026	172.21	180.15	7.94	0.13	0.017	0.7
CRM24-027	250.00	253.70	3.70	0.94	0.124	5.8
and	258.50	279.75	21.25	0.53	0.072	3.3
Including	261.30	270.30	9.00	0.70	0.090	4.4
CRM24-028	255.04	269.99	14.95	0.40	0.037	2.7
CRM24-029	247.00	261.85	14.85	0.51	0.059	3.4
Including	254.60	259.00	4.40	0.77	0.093	6.5

Figure 1 – Gap Zone plan view showing drill locations and traces

The Gap Zone lies between the proposed 147 and 2000S pits and was first identified by a 2022 geophysical IP survey (see news release dated November 21, 2022). Likely representing a fault offset from the main 147 Zone, the Gap Zone has the potential to add significant tonnage and extend the mine life envisioned by the 2023 Preliminary Economic Assessment (see news release dated January 19, 2023)

Granite Creek President and CEO, Timothy Johnson, stated, “The success of this drill program highlights the continued prospectivity of the Carmacks project. There remain multiple untested drill targets on the project, both proximal to the proposed pits as outlined int the 2023 PEA, as well as distal areas and across the northern sector which has seen only modest exploration. The project hosts significant copper-gold-silver resources and has the potential for major expansion across the 177 square kilometre land package in this top mining jurisdiction.”

Carmacks Deposit

The 177 sq km, Carmacks project contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent (“CuEq”) metal within a National Instrument 43-101-compliant, high-grade resource of 36.2 million tonnes grading 1.07 % CuEq (0.81% Cu, 0.31 g/t Au, 3.41 Ag)¹. The road accessible project is located along the Freegold Road, a Resource Gateway Road currently being upgraded by the Yukon government and is within 20 km of the Yukon electrical grid. The project is also situated within the Minto Copper Belt, a roughly 80 km long belt of rocks known for high grade occurrences of copper-gold-silver mineralisation.

The 2023 Carmacks Preliminary Economic Assessment (“PEA”), completed by SGS Canada, identified increased resources along with improved recovery as prime means of increasing the Net Present Value (“NPV”) of the project. Work completed this year by Kemetco Research (see news release dated January 17, 2024) demonstrated that recoveries exceeding the target outlined in the PEA can be achieved. The just completed drill program was designed to show that significant resource expansion is possible and specifically targeted areas that could lead to an expanded mine life as envisioned by the PEA.

About Granite Creek Copper

Granite Creek Copper is a focused on the exploration and development of critical minerals projects in North America and more recently on geologic hydrogen. The Company’s projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. Recent acquisitions include the Union Bay geologic hydrogen project as well as entering into a letter of intent to acquire the Duke Island ultramafic project for it’s geologic hydrogen potential, both projects located in the state of Alaska. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com

Qualified Person

Debbie James P.Geo, has reviewed and approved the technical information contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101 and supervised the 2024 drilling program. She is not independent of the Company because she has received employment income from the Company and holds stock in the Company.

¹Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: Metal prices of $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo and pit slope angles that vary from 35° for overburden to 55°for granodiorite host, metal prices are in US$. Metallurgical recoveries reflective of prior test work that averages: 85% Cu, 85% Au, 65% Ag in the oxide domain and 90% Cu, 76% Au, 65% Ag in the sulphide domain. Mo recovery is assumed to be 70% in both oxide and sulphide domain. Totals and Metal content may not sum due to rounding and significant digits used in calculations. Cu Eq calculation is based on 100% recovery of all metals using the same metal prices used in the resource calculation: $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements” or “forward-looking information”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Granite Creek Copper Ltd.

View the original press release on accesswire.com

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Announces Warrant Extension

Post author By admin
Post date December 2, 2024

VANCOUVER, BC / ACCESSWIRE / November 28, 2024 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain share purchase warrants (the “Warrants”).

Per the application, 4,800,000 Warrants that were originally issued as part of a private placement transaction on June 8, 2022 (see June 9, 2022 news release) exercisable at $0.50 per warrant and expiring December 8, 2024 will now be extended to an expiry date of June 8, 2025.

In addition, the Company proposes to extend the expiry date for 735,500 warrants issued pursuant to a private placement transaction on June 30, 2022 (see June 17, 2022 news release) exercisable at $0.50 per warrant and expiring on December 30, 2024 will now be extended to June 30, 2025.

All other terms and conditions of the Warrants remain unchanged.

About Metallic Minerals
Metallic Minerals Corp. is a resource-stage mineral exploration company, focused on copper, silver, gold, and platinum group elements in top North American jurisdictions. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company’s La Plata project in southwestern Colorado, the expanded NI 43-101 mineral resource estimate highlights a significant porphyry copper-silver resource containing 1.2 Blbs copper and 17.6 Moz of silver¹, with numerous additional targets showing potential for a district-scale porphyry system. The Company announced a 9.5% strategic investment focused on La Plata by Newmont Corporation in May 2023 with two subsequent top up investments in 2024. The U.S. Geological Survey has identified the La Plata mining district as a critical minerals resource area under the Earth Mapping Resources Initiative program and has completed significant geologic and geophysical studies to enhance understanding of the critical mineral potential in the district. The La Plata project is located between the communities of Mancos and Durango, Colorado, north of Highway 160.

In Canada’s Yukon Territory, Metallic Minerals has the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla’s operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. The inaugural Resource Estimate at the Company’s Keno Silver project added 18.2 Moz silver equivalent² to the Company’s total resources in 2024. Hecla is the largest primary silver producer in the USA and soon to be Canada’s largest with full production at its Keno Hill operations in 2024.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators.

Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in North America, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team is committed to responsible and sustainable resource development and has worked closely with Canadian First Nation groups, US Tribal/Native Corporations, and local communities to support successful project development.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.mmgsilver.com, Phone: 604-629-7800
Email: cackerman@mmgsilver.com, Toll Free: 1-888-570-4420

Footnotes

1.) As documented by www.juniormininghub.com; 2.) see news release dated July 23, 2023; 3.) see news release dated February 26, 2024

Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

SOURCE: Metallic Minerals Corp.

Energy Junior Mining Lion One Metals Precious Metals

Lion One Releases Financial Results for Quarter Ended September 30, Announces USD $4 Million Tranche 3 Draw down on Nebari Financing Facility

Post author By admin
Post date December 2, 2024

North Vancouver, British Columbia–(Newsfile Corp. – December 2, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to release the Company’s financial results for Q1 FY 2025, and announces that the Company has entered into an agreement to amend certain terms and draw down a further USD $4,000,000 (“Tranche 3”) of its Senior Secured Financing Facility (the “Financing Facility”) provided by Nebari.

Financial Highlights Q1-FY25

During the three-month period ended September 30, 2024, the Company achieved the following:

Mine operating income of CAD$1,529,978
Record revenue of CAD$10,468,452
3,129 ounces (oz) of gold sold, and 1,093 oz of silver sold
Average realized gold selling price of CAD$3,332 per oz
Cost of sales per gold oz of CAD$2,843 (net of silver revenue)

Mine Operations Highlights Q1-FY25

During the three-month period ended September 30, 2024, the Company achieved the following mining physicals:

Total 54,829 tonnes mined
21,852 tonnes of waste mined
32,977 tonnes of mineralized material mined at average grade of approximately 4.83 Au g/t
Total capital development of 283 meters
Total operating development of 666 meters
Decline advancement of 163 meters and vertical development of 155 meters

Mine production during the quarter was impacted by mine equipment availability in July and August as two underground loaders and a single boom jumbo were out of service for repairs. A new underground loader arrived on site in September resulting in improved equipment availability. Despite the mine equipment utilization issues, the mine was still able to deliver 32,977 tonnes of mineralized materials at 4.83 g/t Au, including 28,922 tonnes of mineralized materials at 5.16 Au g/t and 4,055 tonnes of lower grade mineralized materials at 2.46 Au g/t. The Company will stockpile the lower grade materials (mineralized materials below 3 Au g/t) with the intention of feeding the lower grade mineralized materials once the mill expansion has been completed and excess milling capacity is available.

In the near term, the Company will continue to add mining equipment to improve equipment availability and invest in critical mine infrastructure projects such as the raise bore and mine ventilation project which started in October 2024 and scheduled for completion in January 2025.

Pilot Plant Operations Highlights Q1-FY25

During the three-month period ended September 30, 2024, the Company achieved the following mill physicals:

31,391 tonnes of mineralized material processed at an average head grade of 4.6 Au g/t
Record 3,639 oz of gold recovered
2,889 oz gold doré poured
3,129 oz gold refined and sold
Overall 78.2% recovery achieved for the quarter
Record 81.3% recovery achieved in September
81 days of mill operations in the quarter
11 days of mill downtime, including 9 days for scheduled mill maintenance
Approximately 1,889 oz of mineralized material (primarily gold) was retained within the mill circuit as in process store of metal as of September 30, 2024, with an additional 112 oz of gold doré stored in inventory.

Mill production during the quarter was impacted by a scheduled nine-day mill maintenance shutdown in July 2024, which was conducted to maintain and upgrade the Tuvatu processing plant facilities. These upgrades will have a significant impact on processing efficiency and cost savings moving forward. Major upgrades completed during the shutdown include re-lining the primary ball mill with rubber liners, replacing the bowl/mantle for the cone crusher, replacing the #1 conveyor belt, replacing the grinding and gravity circuit piping with flexible slurry hoses, and installing new detox feed pumps and feed splitter box for the detox circuit. Despite the down time from July, the Company nevertheless achieved a record quarterly gold production of 3,639 oz recovered for the three-month period ending September 30, 2024. This marks three consecutive quarters of record production during the pilot plant phase of operations at Tuvatu.

The Company advises that it has not based its current mine development plan on a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there may be an increased uncertainty of achieving any particular level either of the recovery of minerals or of the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.

Drilling Highlights Q1-FY25

Lion One has a total of five drills currently operating at Tuvatu. Three drills are located underground and are engaged in grade control and infill drilling, while two drills are located on surface, engaged in near mine exploration, extension, and infill drilling.

During the three-month period ended September 30, 2024, the Company completed 9,809.9 meters of diamond drilling in 65 completed holes, with a further 5 drill holes still in progress.

September 2024 Quarter Exploration Summary
Activity	Number
# of drill holes completed	65
# of drill holes in progress at end of Quarter	5
# of meters drilled	9,809.9
# of drill core samples submitted for analysis	13,984
# of channels excavated and sampled	164
# of samples from channel sampling	1,701
# of surface rock chip samples collected	96
# of samples analyzed in Lion One Laboratory	20,748

On October 1, 2024, the Company reported significant new high-grade gold results from near-mine exploration and infill drilling at the West Zone target, located 300 m to the west of to the Tuvatu Gold Mine in Fiji.

Highlights of West Zone exploration and infill drilling:

105.20 g/t Au over 2.1 m (including 248.35 g/t Au over 0.3 m) (TUDDH-636, from 67.8 m depth)
70.07 g/t Au over 2.1 m (including 73.43 g/t Au over 1.2 m) (TUDDH-647, from 144.5 m depth)
102.38 g/t Au over 1.2 m (TUDDH-645, from 97.7 m depth)
19.82 g/t Au over 5.1 m (including 68.88 g/t Au over 0.9 m) (TUDDH-636, from 34.5 m depth)
146.61 g/t Au over 0.6 m (including 289.85 g/t Au over 0.3 m) (TUDDH-645, from 164.3 m depth)
24.16 g/t Au over 3.3 m (including 96.78 g/t Au over 0.3 m) (TUDDH-652, from 173.5 m depth)
49.72 g/t Au over 0.8 m (including 78.61 g/t Au over 0.4 m) (TUDDH-755, from 52.94 m depth)
42.44 g/t Au over 1.8 m (including 61.66 g/t Au over 0.6 m) (TUDDH-636, from 60.6 m depth)
7.68 g/t Au over 4.2 m (including 28.63 g/t Au over 0.3 m) (TUDDH-645, from 142.4 m depth)
14.86 g/t Au over 2.0 m (TUDDH-636, from 228.8 m depth)

*All drill intersects are downhole lengths, 3.0 g/t cutoff.

Subsequent to the quarter end, on November 12, 2024, the Company reported that development of a new near-surface roscoelite-bearing high-grade gold zone had commenced at Tuvatu. Roscoelite is a rare green to black vanadium bearing mica mineral, the presence of which is a defining characteristic of alkaline gold systems such as Tuvatu. It is directly associated with higher-grade gold occurrences and as such it is an important indicator mineral in these systems.

An initial bulk sample of the near-surface roscoelite zone at Tuvatu returned 11.6 g/t gold from 861 tonnes of mineralized materials mined at full mining widths. The Company is enhancing its mine plan with this gold-rich roscoelite material, which is already being processed through the pilot plant.

Roscoelite veining is directly related to high-grade gold mineralization at the nearby Vatukoula gold mine in Fiji where over 7 million ounces of gold have been produced over the last 95 years. Roscoelite is also observed in association with gold mineralization at the Porgera gold mine in PNG, which has been a top ten ranked gold mine globally and which has produced over 25 million ounces of gold. Vatukoula and Porgera are both alkaline gold systems similar to Tuvatu. At Porgera, the most economically significant veins are the Stage II quartz-roscoelite-pyrite veins with native gold, found in the Roamane fault zone. Similar Stage II quartz-roscoelite-pyrite veins are also observed in the new near-surface roscoelite zone at Tuvatu.

Nebari Tranche 3 Draw Down

In addition to releasing the quarterly financial results, the Company also announces that it has entered into an agreement to amend certain terms and drawn down a further USD $4,000,000 (“Tranche 3“) of its Senior Secured Financing Facility (the “Financing Facility“) provided by Nebari Gold Fund 1, LP, Nebari Natural Resources Credit Fund I, LP, and Nebari Natural Resources Credit Fund II, LP (collectively, “Nebari“), previously announced on January 13, 2023 and January 2, 2024. Including the gross up for the original issue discount, Tranche 3 represents a further US$4,347,826 of principal under the Financing Facility. Proceeds from the Financing Facility have to date facilitated construction and commissioning of the Company’s 100% owned Tuvatu Gold Mine in Fiji, and Tranche 3 will facilitate investments as part of a Mine Enhancement Plan to stabilise and increase current production and prepare the mine to support future expansion of the process plant.

The Company has now fully drawn down the Financing Facility. In addition to amending the terms of the Financing Facility to facilitate drawing down Tranche 3, the Company amended certain reporting covenants.

Interest on the first USD $23 million drawn in Tranche 1 of the Facility remains at 8% (plus three-month SOFR), and amortization is on the Maturity Date 42 months from the original closing date, and no closing fees were payable. The USD $8 million drawn under Tranche 2 was subject to an 8% original issue discount and interest remains at 10% plus SOFR, with progressive amortization over 42 months from the Tranche 2 funding date, and closing fees equal to 2% of the amount funded. The USD $4 million drawn under Tranche 3 is subject to an 8% original issue discount and interest is 10% plus SOFR, with progressive amortization over 6 months from 30 June 2025, with closing fees equal to 2% of the amounts funded.

In connection with the drawdown of Tranche 3, the Company has agreed to issue Nebari an aggregate of 4,142,759 common shares in the capital of the Company as a loan bonus in accordance with the policies of the TSX Venture Exchange. The Company has also agreed to amend the exercise price of the 15,333,087 share purchase warrants issued to Nebari as part of the Financing Facility to an exercise price of $0.38 per warrant. All other terms of the warrants remain the same, including the acceleration provision that requires Nebari to exercise the warrants that can be triggered upon the volume weighted average price of the Company’s common shares on the TSX Venture Exchange being in excess of 200% of the exercise price of the warrants on each of 20 consecutive trading days. The issuance of the share loan bonus and amendment of share purchase warrants is subject to the approval of the TSX Venture Exchange.

Competent Persons Statement
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC code). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Mr. Patrick Hickey, P. Eng., MBA, who is an officer of the Company, is a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the development and engineering content of this report.

Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged and split by Lion One personnel on site and delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established 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.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232125

Gold Shore Resources Junior Mining Precious Metals

Goldshore Awards Contracts for Resource Expansion & Discovery Focused Winter Exploration Programs

Post author By admin
Post date November 25, 2024

Diamond drilling program focused on expanding the mineral resource estimate within the conceptual open pit. Program will focus on the top 200 meters from surface by increasing drill density with the goal of extending known mineralization toward the surface to reduce the overall strip ratio and add to the ounce profile of the Moss Gold Project.
Discovery focused geophysical and geochemical program aims to define drill targets along 23 kms of prospective structural corridors that have not been systematically explored.

Vancouver, British Columbia–(Newsfile Corp. – November 25, 2024) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce it has awarded its resource expansion diamond drill program and its top of bedrock sonic drilling program to Laframboise Drilling Inc. and Forages Technic-Eau Inc., respectively. In parallel, the Company announces it has awarded the geophysical program to Abitibi Geophysics.

Michael Henrichsen, CEO of Goldshore commented, “We are very pleased to have awarded the contracts for our winter resource expansion and discovery-based exploration programs. The resource expansion targets we have identified have the potential to deliver ounces within the top 200 meters from surface, within the conceptual open pit, and could improve the economic performance of the deposit, building on the forthcoming Preliminary Economic Assessment (“PEA”) scheduled for release in Q1 2025. In addition, the first systematic discovery-based geophysical and top of bedrock sonic drill programs will give the Company the opportunity to develop robust drill targets that we feel will ultimately lead to a discovery and the uncovering of additional ounces at the project.”

Resource Expansion Drilling

The in-pit diamond drill program consists of approximately 15,000 meters of drilling focused on the top 200 meters from surface (Figure 1) with the goal of expanding the current mineral resource estimate (“MRE”) and reducing the strip ratio of the deposit through the following three avenues.

Strategic infill to increase drill density in locations where mineralized drill intercepts are currently too widely spaced to be included in the inferred mineral resource category;
Extending known mineralized shear zones laterally along strike; and
Extending mineralized shear zones intersected at depth at the Moss Gold Project towards surface where no shallow drilling has occurred.

Figure 1: Illustrates the upcoming 15,000 meter drill program within the conceptual open pit associated with the current MRE. This drill program is targeting resource expansion within the top 200 m from surface.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_002full.jpg

Discovery Focused Exploration Program

The discovery focused exploration program is designed to define robust drill targets along 23 kilometers of prospective structural corridors in the area of the Moss Gold Project. This focus area has not seen systematic exploration due to extensive till and muskeg that cover the prospect structural corridors.

The sonic drill program will sample the top of bedrock over the prospective structural corridors on 50 to 100 meter centers along 400 and 800 meter spaced lines to define areas of gold mineralization (Figure 2). The program will consist of up to 200 drill holes along the Moss Gold Project extensions and 12 kilometer long Kawa trend.

The geophysical program will consist of a 40 line-kilometer pole-dipole survey over the Moss Gold Project and a 235 line-kilometer gradient array survey with select IP pole-dipole lines planned across the 23 kilometers of prospective structural corridors (Figure 3). These surveys will allow the Company to obtain the resistivity and chargeability signature of the Moss Gold Project which has never been the subject to modern ground based geophysical surveys, and to look for similar geophysical responses in the 23 kilometers of prospective structural corridors.

Figure 2: Focus area for top of bedrock sonic drill program along the prospective mineralized structural corridors. Drill holes will be spaced 50 to 100 meters apart on 400 or 800 meters spaced lines.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_003full.jpg

Figure 3: Focus area for ground based induced polarization geophysics surveys across the Moss Gold Project and prospective mineralized structural corridors.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_004full.jpg

Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“), has approved the scientific and technical information contained in this news release.

About Goldshore

Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 MRE, dated March 20, 2024 and prepared by Apex Geoscience Ltd., has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for fast track through this development cycle.

For more information, please visit the Company’s SEDAR+ profile at (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).

For More Information – Please Contact:

Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, potential mineral resource expansion drill targets, timing and completion of a mineral resource expansion drill program, the impact of an expansion drill program on reducing the strip ratio, the targeted increase in the ounce profile of the Moss Gold Project, and the release of an updated PEA and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the foregoing exploration and development goals of the Company may not occur on the timetable anticipated or at all; the PEA may not be completed on the timetable expected or at all; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; risks related to compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance. The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release, including that the Company’s business and financial position and general economic conditions will not be adversely affected; that the expansion drill program will be completed and on the timetable expected; and that the PEA will be completed on the timetable anticipated.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231252

Energy Junior Mining Lion One Metals Precious Metals

Lion One Intensifies Roscoelite Focus and Enhances Fiji Gold Team with Addition of Two Ex-newmont Geologists

Post author By admin
Post date November 19, 2024

North Vancouver, British Columbia–(Newsfile Corp. – November 19, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report an intensification of roscoelite-targeting efforts at Tuvatu and announces the return of Sergio Cattalani to Fiji to lead the technical team in these efforts. The company is also pleased to announce the additions of Ivan Maldonado and Alexander Valencia as the new Mine Geology Manager and Senior Mine Geologist respectively at the Company’s Tuvatu Gold Mine in Fiji.

Roscoelite Targeting

A new significantly mineralized structure has been exposed in the near-surface underground workings at Tuvatu. This structure has consistently returned very high-grade gold since it was first identified in September from underground face sampling. The structure is associated with abundant roscoelite, a feature which is characteristic of several large alkaline gold deposits such as Porgera¹, Cripple Creek², and Vatukoula³ (see Figure 1 below). An initial underground bulk sample from this structure has returned 11.6 g/t gold from 861 tonnes of material fully diluted (November 12, 2024 News Release).

Figure 1. Visible gold and roscoelite vein underground at Tuvatu. Top: Abundant visible gold and roscoelite from exposed vuggy quartz-roscoelite vein seen in-situ underground at Tuvatu. The gold displays a “wire gold” textural habit indicating the rapid deposition of gold from hydrothermal fluids. Bottom: Close-up image of visible gold in quartz-roscoelite vein. Tungsten-carbide scratcher used for scale.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/230539_ecf2afc914a22932_001full.jpg

The new structure has been continuously mapped and mined for over 100 m in the E-W direction and appears to extend further to the east of the current underground workings. While roscoelite-bearing mineralized structures have been identified in drill core at Tuvatu, this is the first time that a significant roscoelite-bearing lode array with high-grade gold has been identified and exposed continuously over a significant distance underground.

Notably, this structure is striking E-W and dipping at approximately -20° to the north. This is an orientation that has not previously been defined or predicted in the Tuvatu geological model, though it has been identified in recent structural analysis.

Roscoelite-bearing structures represent an important target-type at Tuvatu as they are directly associated with high-grade gold. Lion One management has therefore determined that a dedicated effort be allocated to better characterize these lode types, with the goal being to define specific criteria that can be used to identify additional structures with similar attributes at Tuvatu. The current underground exposure of a high-grade roscoelite-bearing structure provides the Company with an invaluable opportunity to carry out detailed sampling and analysis to better understand the mineralogy, geochemistry, and orientation of these structures in situ. Sergio Cattalani has returned to Fiji to lead these efforts on site. Mr Cattalani has over 40 years of experience and as the former Senior Vice President of Exploration for Lion One Metals from mid-2021 to the end of 2023, he is intimately familiar with the deposit and is ideally suited to lead these efforts.

One of the Company’s primary objectives is to develop a detailed understanding of the spatial mineralogical and grade characteristics of the exposed roscoelite structure, and to document if/how the structure and associated gold mineralization varies with proximity to cross-cutting structures of different orientations. The conceptual model, strengthened by direct observations underground, suggests that high-grade “blow-out” zones (or “shatter zones” as described at Vatukoula) are produced at the intersection of multiple structures with different orientations, as has previously been observed in deposits with similar alteration and grade characteristics to Tuvatu, such as the Porgera gold mine.¹ Mr. Cattalani has been charged with investigating precisely how the gold grades, widths, and alteration type and intensity vary along the exposed roscoelite-bearing structure with proximity to the cross-cutting, predominantly steeply dipping, structures that are widely prevalent at Tuvatu. An increased understanding of both the primary characteristics of these roscoelite-bearing structures, as well as their structural interactions, will enable the company to efficiently interrogate and augment the extensive database at Tuvatu to effectively target additional similar features throughout the deposit, and to thereby enhance and expand the long-term mine plan at Tuvatu.

Strengthened Fiji Technical Team

Lion One Metals is pleased to welcome Mr Ivan Maldonado and Mr Alexander Valencia to the Lion One technical team in Fiji. Both Mr Maldonado and Mr Valencia bring extensive technical experience to Lion One, and both will be working with the production geology team at Tuvatu.

Ivan Maldonado, P.Geo. – Mine Geology Manager
Mr. Ivan Maldonado is a professional geoscientist with over 17 years’ experience in mine production, resource modeling, and brownfields exploration in Mexico and Canada. Mr Maldonado gained significant experience with Red Lake Gold Mines at the Campbell mine & Cochenour mine where he spent six years in positions such as Underground Production Geologist, Exploration Geologist and Resource estimation Geologist, followed by six years at Newmont’s Borden gold mine where he rose to the rank of Senior Underground Production Geologist.

Mr. Maldonado’s past experiences as a production geologist includes positions at Pan American Silver’s Dolores open pit mine, and Goldcorp’s San Dimas underground gold-silver mine, both in Mexico.

Alexander Valencia MSc. G.I.T. CAPM – Senior Mine Geologist
Mr. Alexander Valencia is a professional geoscientist with over 12 years’ experience in the mining industry, specializing in resource modeling and with expertise in the exploration of Porphyry Cu-Au, Epithermal Au-Ag, VMS, Orogenic and Skarn deposits. Mr Valencia also has experience in open-pit and underground mining production, ground control, and slope stability and gained significant experience over the last four years as Underground Production Geologist at Newmont’s Borden, Porcupine, and Hoyle Pond gold mines in Ontario.

Mr. Valencia’s prior experience includes one year as a Geological Technician at Glencore’s Kidd Creek Mine, and five years as a Geologist Engineer for ESCARTEC and Constructora Villacreces Andrade in Quito, Ecuador.

The Company also announces that Mr. Alex Nichol has resigned from his role as Vice President, Exploration and Geology, to pursue other opportunities. The Company thanks Mr. Nichol for his hard work and significant contributions to Tuvatu and extends their best wishes to him on his future endeavors.

Lion One Chairman and CEO Walter Berukoff commented: “We are delighted to welcome Ivan and Alexander to Fiji where their expertise will be invaluable to our team at the Tuvatu Gold Mine. I also wish to thank Alex Nichol for his valuable contributions to the Company and wish him the best of luck in all his future endeavours.”

References:

Ronacher, E. (2002). The Porgera gold deposit: Fluid characteristics, ore deposition processes, and duration of the ore forming event. [Doctoral Thesis, University of Alberta].
Kadel-Harder, I. K., Spry, P. G., McCombs, A. L., Zhang, H. (2020). Identifying pathfinder elements for gold in bulk-rock geochemical data from the Cripple Creek Au-Te deposit: a statistical approach. Geochemistry: Exploration, Environment, Analysis, v. 21.
Scherbath, N. L., & Spry, P. G. (2006). Mineralogical, Petrological, Stable Isotope, and Fluid Inclusion Characteristics of the Tuvatu Gold-Silver Telluride Deposit, Fiji: Comparisons with the Emperor Deposit. Economic Geology, v 101.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230539

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Trump Chooses Oil Fracking Boss Wright as Energy Secretary

Post author By admin
Post date November 18, 2024

(Bloomberg) — President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to lead the Energy Department.

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Category: Blog

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