Tag: #LionOneMetals

Lion One Discovers Major New Gold Feeder Structure – 20.86 G/t Au over 75.9 Meters at Depth Beneath the Current Resource at Tuvatu, Fiji

Post author By admin
Post date June 6, 2022

North Vancouver, British Columbia–(Newsfile Corp. – June 6, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is delighted to announce the discovery of a major new feeder structure at its Tuvatu Alkaline Gold Project in Fiji. Hole TUG-141, targeting a complex network of high-grade structures called the 500 Zone, has encountered the longest high-grade intercept yet recorded at Tuvatu, 20.86 g/t Au over 75.9m, including 43.62 g/t Au over 30.0m which includes 90.35 g/t Au over 7.2m. The new discovery is located at depth beneath the current resource fully within the permit boundaries of the Tuvatu mining lease.

High-grade intercepts from TUG-141 include:

20.86 g/t Au over 75.9m from 443.4-519.3m
including 35.25 g/t Au over 37.5m from 471.3-508.8m
including 43.62 g/t Au over 30.0m from 477.6-507.6m
including 90.35 g/t Au over 7.2m from 494.4-501.6m
and notable individual high-grade assay intervals including:

– 138.15 g/t Au over 0.30m from 450.9-451.2m

– 396.16 g/t Au over 0.30m from 479.1-479.4m

– 103.54 g/t Au over 0.30m from 498.6-498.9m

– 340.07 g/t Au over 0.30m from 498.9-499.2m

– 600.42 g/t Au over 0.30m from 499.5-499.8m

– 244.37 g/t Au over 0.30m from 502.5- 503.1m

– 230.18 g/t Au over 0.30m from 507.3-507.6m

– 105.58 g/t Au over 0.30m from 518.7-519.0m

Lion One CEO, Walter Berukoff, stated: “Like the initial discovery of the high-grade 500 Zone drilled two years ago, I believe this new robust high-grade gold feeder mineralization encountered by hole TUG-141 represents a substantial discovery for Lion One. The notable high grades and continuity of mineralization of this intercept demonstrate Tuvatu’s potential to become a large-scale, high-grade underground gold mine. I have long encouraged our team to find that “gold room” at Tuvatu, and hole TUG-141 leads me to believe they have found it. We have only to look at other notable large alkaline Au deposits as direct analogues to better understand what this latest discovery tells us, and it is clear that the discovery of a major high-grade feeder such as this should be viewed as very promising. I am confident that Tuvatu will one day fall in the ranks of notable multi-million ounce Au deposits such as Porgera and Vatukoula. I commend our team on this truly outstanding discovery and I look forward to continued successful execution of both our exploration strategy to realize growth at Tuvatu and our development strategy targeting the commencement of gold production in the second half of 2023.”

Lion One Senior VP of Exploration, Sergio Cattalani, commented: “The mineralized intercepts reported by TUG-141 represent a highly significant development. The grades and continuity observed by the intercepts in hole TUG-141 are of a magnitude not previously documented at Tuvatu, and highlights the largely untapped potential of this deposit. The significance of having identified what may be a new principal feeder conduit for Tuvatu confirms the model that has driven this deep exploration program since the discovery of hole TUDDH-500 in July 2020. Our immediate priority is to follow up of this significant discovery with additional drilling in what remains a relatively poorly drilled portion of the Tuvatu system. Lion One, is now more than ever, convinced of the potential of Tuvatu to become a prominent, multi-million ounce Au deposit at the top of the Au grade distribution worldwide.”

Lion One Technical Advisor, Quinton Hennigh, commented: “Alkaline gold systems tend to be deep-rooted and very structurally complex. Exploring them can be analogous to drilling a tree from the top down. In the shallow part of the system, one finds the upper “branches,” or gold-bearing lodes, but as exploration persists to depth, bigger and bigger “branches,” or lodes, are encountered ultimately leading to the “trunk,” the feeder. The way this remarkable discovery at Tuvatu has unfolded is quite similar to the experience at Porgera, where after approximately ten years of diligent drilling, the high-grade Romane Fault Zone was discovered beneath a myriad of smaller lodes. What is most exciting about this discovery is that now that we have a clear idea where the deep fluid-tapping conduit of this system is located, we can effectively chase it to depth, and alkaline gold systems are known to persist to great depths, sometimes as deep as 2 km. Considering this intercept is only approximately 500m below surface, this discovery is wide open for growth at depth.”

TUG-141 was drilled in the area between modelled 500 Zone lodes 500A, 500C and 500F (Figure 1) where it intersected continuous high-grade Au mineralization grading 20.86 g/t Au over 75.9m that is predominantly hosted by intensely altered, fractured and brecciated andesite. The highest grade core of this zone is characterized by hydrothermal breccia displaying extreme silicification, potassic alteration and sulfidation with regular occurrences of visible gold (Figure 2). In addition, the presence of abundant roscoelite (a vanadium mica mineral) is very encouraging and is a mineral synonymous with the high-grade zones of world-class alkali gold systems such as Cripple Creek in Colorado and Porgera in Papua New Guinea. Some fragments within portions of this breccia are visibly milled, or rounded, indicating vigorous fluid flow. Observations of fracture patterns and textures ranging from incipient and in-situ to full-on brecciation (Figure 2) point to this zone being a dilational breccia that likely formed along a major structural intersection where stresses were being released at the time of mineralization. Rapid depressurisation accompanying seismic movement along such a dilational zone would allow rapid ascent of hydrothermal fluids resulting in silicification, K-metasomatism, sulfidation and rapid precipitation of Au. Textures of minerals observed in veins and open spaces is consistent with a rapid depositional regime.

Lion One is concurrently undertaking a two-pronged exploration drill campaign: 1) shallow infill drilling to enhance definition of its current resource in preparation for mine planning, and 2) deep drilling focussed on better understanding the geometry and extent of the underlying high-grade feeder network. As part of the latter program, hole TUG-141 targeted the upper portion of the 500 Zone at depths between approximately 450-550m where it is projected to connect with the base of lodes making up the Inferred resource. As discussed above, TUG-141 drilled into a very wide and exceptionally high-grade zone, 20.86 g/t Au over 75.9m, cored by hydrothermal breccia (Figure 2). Such a zone of extreme fracturing and brecciation has never before been observed at Tuvatu. It is significant to note that the bulk of this mineralized interval is hosted within andesite rather than by intrusive monzonite, the typical host rock for many lodes at Tuvatu. The significance of this observation has yet to be determined.

Furthermore, it is also notable that the nearest drill holes to TUG-141 are TUG-135 (70m below), TUG-136 (45m to the E), and TUG-138 (60m to the W), indicating that there is considerable space for a substantial increase in the ultimate size of the feeder conduit. All three of these holes have returned previously reported bonanza grade mineralization, similar in tenor and texture to that in TUG-141, including:

24.92 g/t Au over 3.70m from 415.7-419.4m in hole TUG-135 including 159.3 g/t Au over 0.30m;

87.83 g/t Au over 1.5m from 445.1-446.6m in hole TUG-136 including 108.41 g/t Au over 0.60m;

and 23.14 g/t Au over 3.0m from 571.5-574.5m in hole TUG-138 including 118.6 g/t Au over 0.30m.

The area remains open at depth. This target has now become of utmost importance for follow up drilling.

In addition to the impressive intercept of 20.86 g/t Au over 75.9m discussed above, hole TUG-141 encountered numerous other significant mineralized intercepts both above and below this interval including:

Above the high-grade intercept

3.93 g/t Au over 5.7m from 101.7-107.4m including 12.17 g/t Au over 0.30m
4.48 g/t Au over 10.2m from 109.8-120.0m including 38.27 g/t Au over 0.30m
10.98 g/t Au over 1.5m from 291.3-292.8m including 17.20 g/t Au over 0.60m
5.63 g/t Au over 19.2m from 311.7-330.9m including 20.50 g/t Au over 3.00m from 322.2-325.2m, which includes 71.01 g/t Au over 0.30m and 13.75 g/t Au over 0.60m
3.33 g/t Au over 4.50m from 366.3-370.8m including 7.40 g/t Au over 1.20m
11.38 g/t Au over 2.1m from 380.7-382.8m including 22.30 g/t Au over 0.90m
1.97 g/t Au over 13.5m from 391.8-405.3m including 15.25 g/t Au over 0.30m
2.82 g/t Au over 3.90m from 425.1-429.0m including 8.47 g/t Au over 0.30m

Below the high-grade intercept

3.08 g/t Au over 1.50m from 524.1-525.6m including 7.50 g/t Au over 0.30m

In aggregate, all mineralized intercepts reported from hole TUG-141 total 1,909 g/t Au-meters.

Complete results, received to date, from hole TUG-141 are summarized below in Table 1. This is the first drill hole in this part of the Tuvatu alkaline gold system, and as such, orientation and true thicknesses of mineralized intercepts discussed above are not known at this time. Further drilling is required to better understand this new discovery. At the time of writing, hole TUG-141 is still being drilled, and is currently >600m in depth with other mineralised structures yet to be assayed.

Figure 1. Plan view (upper) and vertical section looking E (lower) of the trace of TUG-141 and selected drill holes relative to the 500 Zone lodes modeled to date. TUG-141 was drilled from underground along the Tuvatu exploration decline. The traces of known lodes UR2 and UR4, and modelled lodes of the 500 Zone feeder are shown in red.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/126617_fig%201ed%20lm.jpg.

Figure 2. Compilation of photographs from TUG-141. (A) Abundant visible gold grains (0.2-2mm) in highly altered potassium metasomatized groundmass and roscoelite. (B) Visible gold (~2mm grains) associated with coarse pyrite in a silicified breccia. (C & D) Intensely silicified and pyritized andesite with microfractures of visible gold (~0.5mm grains).

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/126617_81354d06c4e0dad0_003full.jpg.

Figure 2 (continued). (E) Vuggy breccia with coarse pyrite and silicified-sulfidized ground mass. Breccia clasts are angular to sub-rounded. (F) Coarse pyrite breccia with silicified-sulfidized ground mass. (G) Network fracture stockwork ~1-5mm veins with two generations of pyrite. The clasts are highly altered silicified andesite, with the veins containing quartz-pyrite. (H) Network fracture stockwork veins at multiple angles, with intense silicification, quartz-carbonate infill and pyrite.

To view an enhanced version of Figure 2 continued, please visit:
https://orders.newsfilecorp.com/files/2178/126617_81354d06c4e0dad0_004full.jpg.

Mineralization is observed as two generations of pyrite; an earlier bright euhedral pyrite that forms coarse crystals in the core of the veins and breccia, and a darker brownish, spongy pyrite that typically forms extremely fine-grained encrustations or overgrowths on earlier pyrite and wallrock fragments, as well as lining the edges of most veins (Figure 2). Quartz occurs commonly as bluish grey, amorphous to locally colloform silica. Open space vuggy textures are common, as are visible gold grains. Highest grades (up to 600 g/t Au) appear to be associated with an interval of intense pervasive silicification and sulfidation by up to 30% or more extremely fine-grained pyrite developed throughout the host rock, giving the rock an overall massive chocolate brown appearance (Figure 2). The intensity of replacement suggests this is a zone of very high and sustained fluid flux.

Table 1: Table showing all drilling intervals returning >0.5 g/t Au for hole TUG-141. Intervals > 3.0 g/t Au, which is the cutoff grade used for the current resource, are shown in red, and intervals >9.0 g/t Au, which is the average grade of the resource, are bolded.

Sample ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUG08584	71.7	72	0.3	0.96
TUG08535	101.7	102	0.3	3.96
TUG08536	102	102.3	0.3	12.17
TUG08537	102.3	102.6	0.3	5.35
TUG08538	102.6	102.9	0.3	1.42
TUG08539	102.9	103.2	0.3	3.09
TUG08541	103.5	103.8	0.3	1.19
TUG08542	103.8	104.1	0.3	8.64
TUG08543	104.1	104.4	0.3	7.67
TUG08544	104.4	104.7	0.3	7.56
TUG08545	104.7	105	0.3	7.90
TUG08546	105	105.3	0.3	3.53
TUG08548	105.6	105.9	0.3	0.60
TUG08549	105.9	106.5	0.6	4.83
TUG08452	107.1	107.4	0.3	1.42
TUG08456	109.8	110.1	0.3	15.41
TUG08457	110.1	110.4	0.3	0.74
TUG08458	110.4	110.7	0.3	1.12
TUG08459	110.7	111	0.3	5.28
TUG08460	111	111.3	0.3	0.80
TUG08462	111.6	111.9	0.3	2.66
TUG08463	111.9	112.2	0.3	1.45
TUG08464	112.2	112.5	0.3	1.22
TUG08466	112.5	112.8	0.3	1.50
TUG08467	112.8	113.1	0.3	2.67
TUG08468	113.1	113.4	0.3	3.47
TUG08469	113.4	113.7	0.3	2.92
TUG08470	113.7	114	0.3	2.93
TUG08471	114	114.3	0.3	8.74
TUG08473	114.6	114.9	0.3	7.36
TUG08474	114.9	115.5	0.6	0.90
TUG08475	115.5	115.8	0.3	7.20
TUG08476	115.8	116.1	0.3	3.14
TUG08477	116.1	116.4	0.3	0.92
TUG08479	116.7	117	0.3	3.62
TUG08481	117	117.3	0.3	15.85
TUG08482	117.3	117.6	0.3	2.06
TUG08483	117.6	117.9	0.3	1.95
TUG08484	117.9	118.2	0.3	0.58
TUG08485	118.2	118.5	0.3	5.51
TUG08486	118.5	118.8	0.3	6.35
TUG08487	118.8	119.1	0.3	38.27
TUG08488	119.1	119.4	0.3	3.02
TUG08489	119.4	119.7	0.3	1.41
TUG08490	119.7	120	0.3	2.19
TUG08494	122.4	122.7	0.3	1.35
TUG08946	213.6	213.9	0.3	2.11
TUG08947	213.9	214.2	0.3	0.97
TUG08948	214.2	214.5	0.3	3.03
TUG09446	214.5	214.8	0.3	0.82
TUG08949	214.8	215.1	0.3	1.50
TUG09401	215.1	215.4	0.3	1.61
TUG09402	215.4	215.7	0.3	1.75
TUG09407	216.9	217.2	0.3	3.22
TUG09408	217.2	217.5	0.3	0.18
TUG09409	217.5	217.8	0.3	0.62
TUG09423	222.9	223.2	0.3	0.72
TUG09432	226.5	226.8	0.3	1.41
TUG09444	233.4	233.7	0.3	1.32
TUG09445	233.7	234	0.3	3.13
TUG09447	234	234.3	0.3	6.30
TUG09448	234.3	234.6	0.3	2.08
TUG09529	274.8	275.1	0.3	0.77
TUG09536	276.6	276.9	0.3	0.59
TUG09540	277.8	278.1	0.3	0.64
TUG09566	291.3	291.6	0.3	14.77
TUG09567	291.6	291.9	0.3	4.01
TUG09568	291.9	292.2	0.3	16.55
TUG09569	292.2	292.5	0.3	17.85
TUG09570	292.5	292.8	0.3	1.75
TUG09582	299.1	299.4	0.3	2.12
TUG09583	299.4	299.7	0.3	1.94
TUG09584	299.7	300	0.3	0.63
TUG09585	300	300.3	0.3	1.13
TUG09586	300.3	300.6	0.3	0.99
TUG09587	300.6	300.9	0.3	0.79
TUG09588	300.9	301.2	0.3	4.31
TUG09591	301.8	302.1	0.3	1.58
TUG09594	302.7	303	0.3	0.92
TUG09595	303	303.3	0.3	0.78
TUG09605	308.1	308.4	0.3	1.28
TUG09614	311.7	312	0.3	1.35
TUG09616	312	312.3	0.3	2.61
TUG09617	312.3	312.6	0.3	0.08
TUG09619	313.2	313.5	0.3	4.56
TUG09620	313.5	313.8	0.3	3.54
TUG09621	313.8	314.1	0.3	2.47
TUG09622	314.1	314.4	0.3	1.65
TUG09625	315.3	315.6	0.3	1.25
TUG09626	315.6	315.9	0.3	7.71
TUG09628	316.8	317.1	0.3	0.54
TUG09629	317.1	317.4	0.3	2.57
TUG09631	317.4	317.7	0.3	1.00
TUG09633	318	318.3	0.3	1.42
TUG09634	318.3	318.6	0.3	3.11
TUG09635	318.6	318.9	0.3	5.42
TUG09636	318.9	319.2	0.3	4.25
TUG09637	319.2	319.5	0.3	7.68
TUG09638	319.5	319.8	0.3	5.78
TUG09639	319.8	320.1	0.3	0.85
TUG09641	320.4	320.7	0.3	3.19
TUG09642	320.7	321	0.3	3.49
TUG09643	321	321.3	0.3	7.93
TUG09644	321.3	321.6	0.3	2.40
TUG09645	321.6	321.9	0.3	2.04
TUG09646	321.9	322.2	0.3	7.42
TUG09647	322.2	322.5	0.3	18.75
TUG09648	322.5	322.8	0.3	12.75
TUG09650	322.8	323.1	0.3	12.55
TUG09651	323.1	323.4	0.3	15.64
TUG09652	323.4	323.7	0.3	19.67
TUG09653	323.7	324	0.3	13.55
TUG09654	324	324.3	0.3	15.18
TUG09655	324.3	324.6	0.3	11.27
TUG09656	324.6	324.9	0.3	14.62
TUG09657	324.9	325.2	0.3	71.01
TUG09658	325.2	325.5	0.3	5.61
TUG09659	325.5	326.4	0.9	0.60
TUG09660	326.4	326.7	0.3	3.97
TUG09661	326.7	327	0.3	4.93
TUG09662	327	327.3	0.3	11.64
TUG09663	327.3	327.6	0.3	15.86
TUG09667	328.5	329.4	0.9	0.98
TUG09668	329.4	329.7	0.3	2.77
TUG09669	329.7	330	0.3	2.58
TUG09670	330	330.3	0.3	6.51
TUG09671	330.3	330.6	0.3	4.28
TUG09672	330.6	330.9	0.3	6.21
TUG09694	345.3	345.6	0.3	0.60
TUG09695	345.6	345.9	0.3	4.62
TUG09696	345.9	346.2	0.3	4.07
TUG09697	346.2	346.5	0.3	1.76
TUG09699	346.8	347.1	0.3	2.13
TUG09703	348.3	348.6	0.3	33.25
TUG09704	348.6	348.9	0.3	3.52
TUG09703	348.3	348.6	0.3	33.25
TUG09707	350.1	350.4	0.3	12.62
TUG09710	351.3	351.6	0.3	3.20
TUG09711	351.6	351.9	0.3	0.51
TUG09733	366.3	366.6	0.3	1.26
TUG09734	366.6	366.9	0.3	2.37
TUG09736	367.5	367.8	0.3	0.80
TUG09737	367.8	368.1	0.3	11.02
TUG09738	368.1	368.4	0.3	7.96
TUG09739	368.4	368.7	0.3	3.68
TUG09740	368.7	369	0.3	6.95
TUG09741	369	369.3	0.3	1.82
TUG09742	369.3	369.6	0.3	1.29
TUG09744	369.9	370.2	0.3	4.11
TUG09745	370.2	370.5	0.3	3.89
TUG09746	370.5	370.8	0.3	4.54
TUG09759	380.7	381	0.3	2.63
TUG09760	381	381.6	0.6	23.15
TUG09761	381.6	381.9	0.3	20.60
TUG09762	381.9	382.2	0.3	6.13
TUG09763	382.2	382.5	0.3	3.37
TUG09764	382.5	382.8	0.3	0.64
TUG09777	391.8	392.1	0.3	1.08
TUG09778	392.1	392.4	0.3	1.08
TUG09779	392.4	392.7	0.3	0.89
TUG09781	392.7	393	0.3	0.55
TUG09783	393.6	393.9	0.3	0.65
TUG09784	393.9	394.2	0.3	0.54
TUG09785	394.2	394.5	0.3	2.90
TUG09786	394.5	394.8	0.3	2.34
TUG09787	394.8	395.1	0.3	3.74
TUG09788	395.1	395.4	0.3	2.82
TUG09789	395.4	395.7	0.3	1.98
TUG09790	395.7	396	0.3	1.55
TUG09792	396.3	396.6	0.3	2.25
TUG09794	396.9	397.2	0.3	0.44
TUG09795	397.2	397.5	0.3	1.78
TUG09796	397.5	397.8	0.3	3.20
TUG09797	397.8	398.1	0.3	1.27
TUG09798	398.1	398.4	0.3	15.27
TUG09799	398.4	398.7	0.3	2.96
TUG09801	398.7	399	0.3	5.34
TUG09802	399	399.3	0.3	2.38
TUG09803	399.3	399.6	0.3	2.93
TUG09804	399.6	400.5	0.9	4.00
TUG09805	400.5	400.8	0.3	0.68
TUG09806	400.8	401.1	0.3	2.41
TUG09807	401.1	401.4	0.3	2.06
TUG09808	401.4	401.7	0.3	1.61
TUG09809	401.7	402	0.3	1.67
TUG09811	402.3	402.6	0.3	1.46
TUG09812	402.6	402.9	0.3	0.91
TUG09814	403.2	403.5	0.3	3.71
TUG09817	403.8	404.1	0.3	0.77
TUG09819	405	405.3	0.3	1.56
TUG09811	402.3	402.6	0.3	1.40
TUG09812	402.6	402.9	0.3	0.95
TUG09814	403.2	403.5	0.3	3.57
TUG09817	403.8	404.1	0.3	0.83
TUG09819	405	405.3	0.3	1.61
TUG09824	406.8	407.1	0.3	2.78
TUG09827	408	408.3	0.3	1.21
TUG09828	408.3	408.6	0.3	0.72
TUG09829	408.6	409.2	0.6	1.14
TUG09831	409.2	409.5	0.3	3.27
TUG09832	409.5	409.8	0.3	0.90
TUG09836	410.7	411	0.3	1.86
TUG09837	411	411.3	0.3	2.11
TUG09838	411.3	411.6	0.3	3.40
TUG09839	411.6	411.9	0.3	0.70
TUG09842	412.8	413.1	0.3	0.93
TUG09843	413.1	413.4	0.3	0.76
TUG09848	416.1	417	0.9	0.63
TUG10354	418.8	419.1	0.3	0.82
TUG10355	419.1	419.4	0.3	0.65
TUG10360	420.6	420.9	0.3	0.75
TUG10361	420.9	421.2	0.3	1.05
TUG10362	421.2	421.5	0.3	1.59
TUG10363	421.5	421.8	0.3	1.23
TUG10367	422.7	423	0.3	0.68
TUG10368	423	423.3	0.3	0.72
TUG10373	425.1	425.4	0.3	2.48
TUG10374	425.4	425.7	0.3	2.83
TUG10375	425.7	426	0.3	3.52
TUG10376	426	426.3	0.3	3.77
TUG10377	426.3	426.6	0.3	8.47
TUG10378	426.6	426.9	0.3	1.64
TUG10379	426.9	427.2	0.3	1.53
TUG10381	427.2	427.8	0.6	4.11
TUG10382	427.8	428.1	0.3	1.65
TUG10383	428.1	429	0.9	0.86
TUG10387	429.9	430.2	0.3	0.72
TUG10393	433.2	433.5	0.3	2.04
TUG10394	433.5	433.8	0.3	0.85
TUG10395	433.8	434.1	0.3	0.76
TUG10408	440.4	440.7	0.3	2.36
TUG10413	443.1	443.4	0.3	1.02
TUG10414	443.4	443.7	0.3	6.82
TUG10417	444.9	445.2	0.3	17.94
TUG10418	445.2	445.5	0.3	5.83
TUG10423	447	447.3	0.3	1.16
TUG10425	448.2	448.5	0.3	4.54
TUG10426	448.5	448.8	0.3	0.76
TUG10428	450	450.3	0.3	4.94
TUG10429	450.3	450.6	0.3	1.53
TUG10431	450.6	450.9	0.3	0.97
TUG10432	450.9	451.2	0.3	138.15
TUG10434	451.5	451.8	0.3	0.76
TUG10435	451.8	452.1	0.3	1.25
TUG10436	452.1	452.4	0.3	1.35
TUG10438	452.7	453	0.3	1.65
TUG10439	453	453.3	0.3	4.70
TUG10440	453.3	453.6	0.3	2.57
TUG10441	453.6	453.9	0.3	4.99
TUG10444	454.8	455.1	0.3	14.02
TUG10445	455.1	455.4	0.3	2.07
TUG10446	455.4	455.7	0.3	1.09
TUG10447	455.7	456	0.3	1.28
TUG10448	456	456.3	0.3	2.55
TUG10453	459	460.2	1.2	1.14
TUG10454	460.2	460.8	0.6	1.00
TUG10455	460.8	462	1.2	1.74
TUG10456	462	462.3	0.3	1.28
TUG10457	462.3	462.6	0.3	24.98
TUG10458	462.6	462.9	0.3	87.13
TUG10459	462.9	463.8	0.9	11.34
TUG10461	464.4	465	0.6	0.67
TUG10463	465.9	466.2	0.3	0.91
TUG10464	466.2	466.5	0.3	1.36
TUG10466	466.5	466.8	0.3	1.27
TUG10467	466.8	467.1	0.3	1.28
TUG10468	467.1	467.4	0.3	3.79
TUG10469	467.4	467.7	0.3	20.93
TUG10470	467.7	468	0.3	20.64
TUG10471	468	468.3	0.3	19.40
TUG10473	468.6	468.9	0.3	3.46
TUG10474	468.9	469.2	0.3	2.78
TUG10475	469.2	469.5	0.3	2.10
TUG10482	471.3	471.6	0.3	0.81
TUG10483	471.6	471.9	0.3	1.03
TUG10484	471.9	472.2	0.3	6.72
TUG10485	472.2	472.5	0.3	0.88
TUG10486	472.5	472.8	0.3	1.45
TUG10487	472.8	473.1	0.3	9.05
TUG10488	473.1	473.4	0.3	1.35
TUG10490	473.7	474	0.3	0.48
TUG10492	474.3	474.6	0.3	0.78
TUG10493	474.6	474.9	0.3	1.37
TUG10494	474.9	475.2	0.3	1.43
TUG10496	475.5	475.8	0.3	1.67
TUG10497	475.8	477	1.2	1.80
TUG10498	477	477.6	0.6	2.64
TUG10500	477.6	477.9	0.3	93.49
TUG10501	477.9	478.2	0.3	1.01
TUG10502	478.2	478.5	0.3	34.17
TUG10503	478.5	478.8	0.3	94.57
TUG10504	478.8	479.1	0.3	35.04
TUG10505	479.1	479.4	0.3	396.16
TUG10506	479.4	479.7	0.3	25.06
TUG10507	479.7	480	0.3	7.09
TUG10508	480	480.3	0.3	4.06
TUG10509	480.3	480.6	0.3	31.63
TUG10510	480.6	480.9	0.3	5.3
TUG10511	480.9	481.2	0.3	114.95
TUG10512	481.2	481.5	0.3	1.90
TUG10513	481.5	481.8	0.3	0.83
TUG10514	481.8	482.1	0.3	9.99
TUG10516	482.1	482.4	0.3	0.71
TUG10517	482.4	482.7	0.3	6.64
TUG10518	482.7	483	0.3	6.05
TUG10519	483	483.3	0.3	6.64
TUG10520	483.3	483.6	0.3	2.47
TUG10521	483.6	483.9	0.3	0.93
TUG10522	483.9	484.2	0.3	5.15
TUG10523	484.2	484.5	0.3	10.90
TUG10524	484.5	484.8	0.3	14.76
TUG10525	484.8	485.1	0.3	20.24
TUG10526	485.1	485.4	0.3	21.93
TUG10527	485.4	485.7	0.3	20.79
TUG10528	485.7	486	0.3	32.89
TUG10529	486	486.3	0.3	16.13
TUG10531	486.3	486.6	0.3	2.55
TUG10532	486.6	486.9	0.3	13.04
TUG10533	486.9	487.2	0.3	5.42
TUG10534	487.2	487.5	0.3	3.95
TUG10535	487.5	487.8	0.3	4.89
TUG10536	487.8	488.1	0.3	4.24
TUG10537	488.1	488.4	0.3	4.41
TUG10538	488.4	488.7	0.3	5.21
TUG10539	488.7	489	0.3	1.80
TUG10540	489	489.3	0.3	16.42
TUG10541	489.3	489.6	0.3	7.17
TUG10542	489.6	489.9	0.3	6.47
TUG10543	489.9	490.2	0.3	4.07
TUG10544	490.2	490.5	0.3	4.75
TUG10545	490.5	490.8	0.3	4.86
TUG10546	490.8	491.1	0.3	7.13
TUG10547	491.1	491.4	0.3	11.64
TUG10548	491.4	491.7	0.3	35.68
TUG10549	491.7	492	0.3	22.53
TUG10551	492	492.3	0.3	10.72
TUG10552	492.3	492.6	0.3	25.23
TUG10553	492.6	492.9	0.3	16.77
TUG10554	492.9	493.2	0.3	20.86
TUG10555	493.2	493.5	0.3	23.61
TUG10556	493.5	493.8	0.3	5.85
TUG10557	493.8	494.1	0.3	6.41
TUG10558	494.1	494.4	0.3	4.25
TUG10559	494.4	494.7	0.3	36.13
TUG10560	494.7	495	0.3	19.66
TUG10561	495	495.3	0.3	72.65
TUG10562	495.3	495.6	0.3	241.21
TUG10563	495.6	495.9	0.3	31.77
TUG10564	495.9	496.2	0.3	51.52
TUG10566	496.2	496.5	0.3	25.17
TUG10567	496.5	496.8	0.3	100.35
TUG10568	496.8	497.1	0.3	12.86
TUG10569	497.1	497.4	0.3	4.68
TUG10570	497.4	497.7	0.3	33.81
TUG10571	497.7	498	0.3	37.11
TUG10572	498	498.3	0.3	20.74
TUG10573	498.3	498.6	0.3	26.29
TUG10574	498.6	498.9	0.3	103.54
TUG10575	498.9	499.2	0.3	340.07
TUG10576	499.2	499.5	0.3	269.25
TUG10577	499.5	499.8	0.3	600.42
TUG10578	499.8	500.1	0.3	73.02
TUG10579	500.1	500.4	0.3	13.41
TUG10581	500.4	500.7	0.3	1.85
TUG10582	500.7	501.3	0.6	13.32
TUG10583	501.3	501.6	0.3	26.54
TUG10584	501.6	501.9	0.3	9.04
TUG10585	501.9	502.2	0.3	4.79
TUG10586	502.2	502.5	0.3	3.93
TUG10587	502.5	502.8	0.3	126.85
TUG10588	502.8	503.1	0.3	361.90
TUG10589	503.1	503.4	0.3	1.95
TUG10590	503.4	503.7	0.3	3.27
TUG10591	503.7	504	0.3	32.78
TUG10592	504	504.3	0.3	23.63
TUG10596	505.2	505.5	0.3	8.07
TUG10598	505.8	506.1	0.3	18.51
TUG10599	506.1	506.4	0.3	53.78
TUG10602	506.7	507	0.3	7.50
TUG10604	507.3	507.6	0.3	234.39
TUG10605	507.6	507.9	0.3	2.22
TUG10606	507.9	508.8	0.9	0.58
TUG10612	510.3	510.6	0.3	3.37
TUG10613	510.6	510.9	0.3	1.32
TUG10614	510.9	511.2	0.3	5.53
TUG10616	511.2	511.5	0.3	24.91
TUG10617	511.5	511.8	0.3	64.47
TUG10618	511.8	512.1	0.3	72.56
TUG10619	512.1	512.4	0.3	13.35
TUG10620	512.4	512.7	0.3	2.08
TUG10621	512.7	513	0.3	1.59
TUG10622	513	513.3	0.3	0.74
TUG10623	513.3	513.6	0.3	0.94
TUG10624	513.6	513.9	0.3	0.53
TUG10625	513.9	514.2	0.3	1.17
TUG10626	514.2	514.5	0.3	23.17
TUG10627	514.5	514.8	0.3	0.85
TUG10628	514.8	515.1	0.3	2.39
TUG10629	515.1	515.4	0.3	1.03
TUG10631	515.4	515.7	0.3	0.83
TUG10632	515.7	516	0.3	1.74
TUG10633	516	516.3	0.3	3.50
TUG10634	516.3	516.6	0.3	0.59
TUG10636	516.9	517.2	0.3	0.80
TUG10637	517.2	517.5	0.3	2.99
TUG10638	517.5	517.8	0.3	0.76
TUG10639	517.8	518.1	0.3	3.34
TUG10640	518.1	518.4	0.3	8.94
TUG10641	518.4	518.7	0.3	12.80
TUG10642	518.7	519	0.3	105.58
TUG10643	519	519.3	0.3	34.42
TUG10644	519.3	519.6	0.3	0.55
TUG10645	519.6	519.9	0.3	0.80
TUG10656	522.6	522.9	0.3	0.59
TUG10657	522.9	523.2	0.3	0.88
TUG10658	523.2	523.5	0.3	0.76
TUG10659	523.5	523.8	0.3	1.09
TUG10660	523.8	524.1	0.3	0.61
TUG10661	524.1	524.4	0.3	2.11
TUG10664	525	525.3	0.3	5.56
TUG10666	525.3	525.6	0.3	7.50
TUG10667	525.6	525.9	0.3	0.87
TUG10668	525.9	526.2	0.3	0.78
TUG10693	543.9	544.2	0.3	0.63
TUG10695	544.5	544.8	0.3	0.75
TUG10696	544.8	545.1	0.3	0.59
TUG10699	545.7	546	0.3	0.81
TUG10701	546	546.3	0.3	0.63
TUG10702	546.3	546.6	0.3	0.59
TUG10706	547.5	547.8	0.3	0.52
TUG10719	554.1	554.4	0.3	0.84

Table 2: Survey details of diamond drill holes referenced in this release

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUG-135	3920759	1876459	139.2	689.4	-64	149
TUG-136	3920759	1876459	139.2	617.4	-58	151
TUG-138	3920759	1876459	139.2	746.4	-64	163
TUG-141	3920759	1876459	139.2	633.0 *	-55°	162°

* Current depth, hole is still drilling

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for 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 labour 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.

Tags #CanadianMining, #CanadianMiningStocks, #GoldMiningCompanies, #LIO, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #WalterBerukoff

Junior Mining Lion One Metals Precious Metals

Lion One Reports Latest Results from Its Phase 2 Infill Drill Program from Tuvatu, Fiji, Demonstrating Significant New Mineralization, Including a Bonanza Intercept of 584.07 g/t Au Over 0.30m

Post author By admin
Post date May 31, 2022

North Vancouver, British Columbia–(Newsfile Corp. – May 31, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from ongoing infill drilling at its Tuvatu Alkaline Gold Project in Fiji.

Results for the first 11 holes of Lion One’s Phase 2 infill program on Zone 5 of their fully permitted Tuvatu alkaline gold deposit are here reported. The results to date indicate significant new intercepts of high- to bonanza-grade Au mineralization that was not known to occur as part of the existing resource model. The Phase 2 infill drill program was designed to confirm the location, size, and continuity of the known mineralized lodes, in a portion of the orebody slated for early production (Figure 1A).

Top Intercepts include:

18.47 g/t Au over 1.20m from 104.7-105.9m, and 584.07 g/t Au over 0.30m from 122.4-122.7m from TUDDH-586 (new)
24.72 g/t Au over 0.60m from 187.4-188.0m, incl. 43.34 g/t Au over 0.30m from 187.7-188.0m from TUDDH-580 (new)
25.23 g/t Au over 1.20m from 70.9-72.1m, incl. 78.02 g/t Au over 0.30m from TUG-139
18.77 g/t Au over 2.10m from 118.8-120.9m, incl. 26.07 g/t Au over 1.50m from TUDDH-577
11.95 g/t Au over 2.70m from 55.9-58.6m, incl. 35.91 g/t Au over 0.60m from TUDDH-578
11.18 g/t Au over 1.20m from 153.5-154.7m, incl. 40.05 g/t Au over 0.30m from TUDDH-580

The mineralization reported here is considered to be a highly significant development, representing a substantive addition of Au mineralization at grades well in excess of the average resource grade, intersected at relatively shallow levels in the orebody. As a result, the new high-grade mineralization defined by the ongoing infill drill program can be expected to substantially enhance the early part the production stream and hence the immediate economic viability of Tuvatu.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522wiki_topics%2522%253A%2522Lion%253BExploration_diamond_drilling%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%252290214f74-cd87-30c8-9d72-a6dbadcf0260%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Results of the ongoing infill drill program to date are summarized below in Table 1. Highlighted in blue on Table 1 are specific drill intercepts that are outside of the mineralized lodes that make up the existing resource model. Each of these additional intercepts has the potential to add width, grade, and continuity to the resource in this portion of the Tuvatu orebody.

Lion One CEO Walter Berukoff, stated “We are confident that the high-grade intercepts indicated by our infill programs and the increased drilling density will lead to a more robust resource model overall with higher localized grades earlier in the production schedule at Tuvatu. Furthermore, when considering the substantially higher grade near-surface infill results reported here, along with the continuing success of the deep drilling program, this underscores the significance of Tuvatu as a potentially multi-million ounce, world-class high-grade Au producer. As we expand our drilling fleet to eight rigs and our laboratory capacity to 12,000 samples per month, we are well positioned to continue securing impressive results from all three tiers of our exploration strategy: from ongoing near-surface infill drilling; from extensions of deep high-grade feeder targets at Tuvatu; and from our pipeline of regional targets in the surrounding Navilawa caldera”.

Since the start of Phase 2 infill drill program in February 2022, Lion One has to date completed approximately 3,700m out of a planned 8,000m of infill drilling. This news release reports the results from approximately 2,375m of drilling, equivalent to approximately 30% of the planned program.

Infill Drilling Program

Two phases of infill drilling have been planned at Tuvatu with the aim of infilling areas within the current resource and thus augmenting the data density, to further improve the resolution of the geological model in portions of the deposit scheduled for earliest production. Phase 1 infill drilling was completed over Zone 2 (Figure 1A) in mid-February 2022, adding over 8,400m of new drill data, including 7,475m of new drilling and 955m of sampling of previously unsampled historic drill core (see Feb. 23, 2022 News Release).

This release presents final assay data from the initial 11 drill holes completed as part of the Phase 2 infill program, which is planned for approximately 8000m of diamond drilling from surface and underground, and is aimed at upgrading the resource database in Zone 5 of the Tuvatu orebody (Figure 1). The program as planned includes 30 holes totalling 5,400m carried out from 4 separate drill stations at surface, and 34 holes totalling 2,600m carried out from 6 underground drill stations. Phase 2 infill drill program began February 17, 2022 with drill hole TUDDH-577, and is expected to require 5-6 months of drilling using three rigs (two from surface and one from underground) to complete.

The results from the initial approximately 2,375m of drilling in Zone 5 (Figure 2), representing approximately 30% of the planned program total, indicate consistent high-grade to locally bonanza-grade Au mineralization for known mineralized lodes in this portion of the current resource (Table 1). Additionally, the results from the initial 30% of the Phase 2 infill program indicates significant new high-grade mineralization not previously known to occur prior to this program, and therefore not included in the current resource statement.

Overall, results to date suggest higher-than-expected continuity and widths of mineralization, locally at grades above the calculated average grade of the deposit. Indeed, the Phase 2 infill program is confirming, and in certain instances, extending previously modelled lodes in this part of the resource. Intercepts of exceptionally high-grades (e.g. 584.07 g/t Au in TUDDH-586) are in line with bonanza results documented from several intercepts from the previously completed Phase 1 infill drill program, providing further support to the expectation of an overall increase in average grades of the lodes scheduled for earliest phases of mining.

Numerous mineralized intervals, including the 584.07 g/t Au bonanza-grade intercept in hole TUDDH-586 as well as 43.34 g/t Au over 0.30m from 187.7-188.0m in hole TUDDH-580, occur fully outside of existing modelled lodes (Table 1, highlighted), adding to our understanding of the lode geometry, as well as to the overall inventory of high-grade mineralization slated for early production at Tuvatu.

As per the Phase 1 infill program, numerous strategically located historic holes have also been identified for resampling, the results of which will be reported in future news releases.

Figure 1: A) Oblique view looking N060° and down 17° showing the current conceptual mine plan ore panels (gold) highlighting the location of Zone 2 and Zone 5, the exploration decline (yellow) and the planned Zone 5 infill drilling program (blue). The planned drilling consists of 4 surface and 6 underground drill stations. B) Oblique view looking N060° and down 40° showing the UR1 to UR5, URW1A, URW1C, and URW3 lodes (transparent gray), exploration decline (yellow) and the planned Zone 5 infill drilling program (blue).

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/125923_lionon2.jpg

Figure 2: Composite vertical section looking N through Zone 5 at Tuvatu, showing the UR1 to UR5, URW1A, URW2A, and URW3 lodes (blue labels) and the trace of the infill drilling reported in this release (yellow traces). Solid lines are in the section, dotted lines are projected to this section.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/125923_lionon4.jpg

Table 1: Drilling intervals returning >0.5 g/t Au (intervals > 3.0 g/t Au cutoff are shown in red, and intervals >9.0 g/t Au or longer than 1.2m are bolded). Intercepts that are outside of the current geological model are highlighted in light blue.

Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUDDH-577	7.2	8.1	0.9	1.25
	59.1	60.3	1.2	1.13
	100.8	101.4	0.6	0.86
	118.8	120.9	2.1	18.77
including	118.8	120.3	1.5	26.07
	127.5	127.8	0.3	16.30
	135.6	136.2	0.6	1.09
	138.6	138.9	0.3	24.66
	182.2	182.8	0.6	0.65

TUDDH-578	45.4	45.7	0.3	0.72
	55.9	58.6	2.7	11.95
including	55.9	56.5	0.6	35.91
and	58.0	58.3	0.3	22.39
	64.3	65.2	0.9	0.58
	82.3	82.9	0.6	0.77
	100.6	101.5	0.9	1.39

TUDDH-579	22.0	22.3	0.3	0.73
	126.1	126.4	0.3	2.43
	129.7	131.8	2.1	0.94
	135.1	135.4	0.3	13.56
	140.5	142.3	1.8	2.88
including	140.5	140.8	0.3	11.62
and	142.0	142.3	0.3	5.2
	161.2	163.6	2.4	1.78

TUDDH-580	8.0	9.2	1.2	4.53
	46.7	47.3	0.6	1.67
	81.8	82.4	0.6	0.78
	83.6	85.1	1.5	1.48
	153.5	154.7	1.2	11.18
including	153.5	153.8	0.3	40.05
	157.7	158.6	0.9	0.66
	159.5	159.8	0.3	0.66
	165.2	167.0	1.8	1.11
including	166.7	167.0	0.3	5.01
	173.6	173.9	0.3	0.76
	187.4	188.0	0.6	24.72
including	187.4	187.7	0.3	6.12
including	187.7	188.0	0.3	43.34
	192.8	196.4	3.6	1.88
including	193.1	193.4	0.3	11.17
including	194.6	194.9	0.3	4.11

TUDDH-581	20.9	21.2	0.3	4.12
	81.8	82.4	0.6	0.76
	100.4	101.0	0.6	1.56
	106.4	107.0	0.6	0.82
	168.5	170.0	1.5	4.41
including	168.5	168.8	0.3	8.27
and	168.8	170.0	1.2	3.25
	179.3	182.0	2.7	1.32
	186.8	187.1	0.3	0.54
	206.6	206.9	0.3	3.07
	208.4	209.9	1.5	1.91
	212.3	213.2	0.9	0.69
	226.1	227.9	1.8	2.39
including	227.0	227.3	0.3	7.48
	249.8	250.7	0.9	1.38
	251.9	252.2	0.3	2.38
	307.4	308.9	1.5	1.55

TUDDH-582	47.6	48.5	0.9	3.21
	91.8	93.6	1.8	3.81
including	92.4	93.6	1.2	5.22
	99.3	102.0	2.7	3.33
including	99.3	100.2	0.9	5.77

TUDDH-583	7.5	8.1	0.6	2.26
	46.5	47.1	0.6	1.02
	72.0	72.3	0.3	1.48
	87.3	88.5	1.2	0.69
	96.3	96.9	0.6	2.68
	114.0	114.3	0.3	1.62
	121.5	122.7	1.2	1.48
	126.9	128.7	1.8	1.93
including	128.4	128.7	0.3	4.39
	132.0	132.3	0.3	25.32
	137.4	137.7	0.3	0.66
	138.9	140.1	1.2	3.11
including	138.9	139.2	0.3	7.12
	241.2	241.5	0.3	1.48

TUDDH-586	9.3	11.1	1.8	4.28
including	10.2	11.1	0.9	7.91
	63.6	64.2	0.6	0.53
	67.8	68.4	0.6	1.8
	84.6	84.9	0.3	5.95
	98.1	98.4	0.3	2.95
	104.7	105.9	1.2	18.47
	116.7	117.3	0.6	0.55
	122.1	122.7	0.6	292.69
including	122.4	122.7	0.3	584.07
	127.5	127.8	0.3	1.68
	129.3	129.9	0.6	10.74
	133.2	133.8	0.6	3.41
	141.6	143.7	2.1	1.75
including	142.5	142.8	0.3	7.33
	238.5	241.2	2.7	0.95

TUDDH-587	17.2	17.5	0.3	0.69
	62.8	63.4	0.6	1.11
	76.6	76.9	0.3	1.57
	89.5	89.8	0.3	0.59
	103.6	103.9	0.3	2.34
	146.2	146.5	0.3	4.43
	159.1	160.9	1.8	1.66
	232.9	233.5	0.6	6.43
including	232.9	233.2	0.3	11.40
	234.7	235.9	1.2	4.27
including	235	235.6	0.6	5.42
	237.4	238.6	1.2	8.89

TUG-139	17.8	18.1	0.3	1.42
	22.0	22.3	0.3	0.82
	26.5	26.8	0.3	1.47
	28.9	29.2	0.3	1.42
	31.0	31.3	0.3	0.75
	48.7	49.6	0.9	1.49
	54.4	59.2	4.8	4.20
including	54.7	55.0	0.3	5.91
and	55.0	55.3	0.3	12.60
and	55.6	55.9	0.3	7.27
and	55.9	56.2	0.3	5.70
and	57.1	57.4	0.3	15.09
	70.9	72.1	1.2	25.23
including	70.9	71.2	0.3	8.96
and	71.2	71.5	0.3	8.32
and	71.5	71.8	0.3	5.00
and	71.8	72.1	0.3	78.02
	82.3	82.6	0.3	2.78
	91.6	91.9	0.3	1.66
	95.5	95.8	0.3	1.84

TUG-142	20.4	20.7	0.3	1.15
	29.4	29.7	0.3	1.49
	31.2	36.3	5.1	0.65
	41.4	42	0.6	1.88
	45.3	45.6	0.3	0.69
	61.3	63.7	2.4	3.55
including	62.5	63.1	0.6	8.14
additional results pending

Table 2: Survey details of diamond drill holes referenced in this release

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUDDH-577	3920435	1876442	314.0	197.9	-39	268
TUDDH-578	3920520	1876513	348.6	150.3	-59	267
TUDDH-579	3920435	1876513	348.6	239.0	-49	269
TUDDH-580	3920435	1876513	348.6	284.9	-60	265
TUDDH-581	3920435	1876513	348.6	311.6	-70	265
TUDDH-582	3920435	1876442	314.0	120.2	-49	267
TUDDH-583	3920435	1876513	348.6	303.2	-44	289
TUDDH-586	3920435	1876513	348.6	302.3	-55	289
TUDDH-587	3920435	1876513	348.6	256.8	-63	289
TUG-139	3920480	1876411	103.1	123.3	+13	091
TUG-142	3920480	1876411	103.1	85.8	-30	090

Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited

Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for 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 labour 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/125923

Tags #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, maurice jackson

Lion One Metals Precious Metals

Lion One Reports Additional High Grade Intercepts, Completes Phase 1 Infill Drill Program at Tuvatu, Fiji

Post author By admin
Post date February 23, 2022

North Vancouver, British Columbia–(Newsfile Corp. – February 23, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is very pleased to announce additional results from its recently completed Phase 1 infill drill program on the Zone 2 portion of the Tuvatu high-grade alkaline Au deposit located on the island of Viti Levu in Fiji. The infill program began in June, 2021 and was completed last week with the termination of hole TUDDH576, bringing the total drilled to 7475.2m and total drill core resampled to 955.4m, for a program total of 8430.6m.

– 7475m of drilling completed in 42 holes and 955m of resampling of 28 historic drillholes as part of Phase 1 infill program

Top Intercepts from Latest Infill Drilling Include

77.11 g/t Au over 3.90m from 30.8-34.7m, inc. 162.22 g/t Au over 1.8m from TUDDH 571
12.56 g/t Au over 7.80m from 87.1-94.9m, inc. 54.43 g/t Au over 1.2m from TUDDH 572
16.08 g/t Au over 7.80m from 30.1-37.9m, inc. 62.22 g/t Au over 1.8m from TUDDH 573
15.10 g/t Au over 3.60m from 121.1-124.7m, inc. 95.06 g/t Au over 0.3m from TUDDH 575

Infill Drilling Program

The consistent bonanza-grade results from many of the drill holes that are part of the Phase 1 infill drill program continue to suggest higher-than-expected continuity of high-grade mineralization as well as higher absolute grades between modelled lodes (Figure 1, Table 1). Analysis of historic drill core material to eliminate sample gaps in areas where the current resource model lacked adequate data density has also yielded positive results, and in several instances, gold grades well above the resource average (Table 2). These factors should result in additional ounces in the portion of the deposit earmarked for earliest production. The re-modelling of Zone 2 lodes will begin as soon as all new data has been received and compiled and all holes have been properly surveyed.

The next (Phase 2) infill program planned for ~5000m of diamond drilling from surface and ~2500m of grade control diamond drilling from underground is aimed at upgrading the resource database in Zone 5 which is scheduled for production within the initial 3 years of operation. This second infill drill program began February 17, 2022 with drill hole TUDDH577, and is expected to require 5-6 months of drilling using three rigs (two from surface and one from underground) to complete.

Highlights from Latest Phase 1 Infill Drilling Results

TUDDH570

16.13 g/t Au over 0.5m from 132.1-132.6m
39.36 g/t Au over 0.3m from 142.0-142.3m
8.99 g/t Au over 3.6m from 154.0-157.6m, including

11.79 g/t Au over 0.9m from 155.2-156.1m,

30.28 g/t Au over 0.6m from 157.0-157.6m,

TUDDH571

77.11 g/t Au over 3.90m from 30.8-34.7m, including

162.22 g/t Au over 1.8m from 30.8-32.6m, which includes

179.0 g/t Au over 0.3m from 30.8-31.1, and

61.86 g/t Au over 0.3m from 31.1-31.4m, and

210.3 g/t Au over 0.3m from 31.4-31.7m, and

190.0 g/t Au over 0.3m from 31.7-32.0m, and

261.0 g/t Au over 0.3m from 32.0-32.3m, and

71.13 g/t Au over 0.3m from 32.3-32.6m, and including

16.96 g/t Au over 0.3m from 34.4-34.7m

TUDDH572

12.56 g/t Au over 7.80m from 87.1-94.9m, including

54.43 g/t Au over 1.2m from 87.1-88.3m, which includes

19.67 g/t Au over 0.3m from 87.1-87.4m, and also includes

196.0 g/t Au over 0.3m from 88.0-88.3m, and also includes

16.04 g/t Au over 1.5m from 89.8-91.3m, which includes

34.92 g/t Au over 0.6m from 89.8-90.4m

26.19 g/t Au over 0.6m from 105.1-105.7m, including

21.39 g/t Au over 0.3m from 105.1-105.4m, and

30.97 g/t au over 0.3m from 105.4-105.7m

TUDDH573

9.98 g/t Au over 1.60m from 27.5-29.1m, including

16.54 g/t Au over 0.9m from 27.5-28.4m, which includes

31.58 g/t Au over 0.3m from 27.8-28.1m

16.08 g/t Au over 7.80m from 30.1-37.9m, including

62.22 g/t Au over 1.8m from 35.5-37.3m, which includes

89.02 g/t Au over 0.3m from 35.5-35.8m, and

52.18 g/t Au over 0.3m from 35.8-36.1m, and

201.0 g/t Au over 0.3m from 36.1-36.4m

10.70 g/t Au over 0.6m from 269.9-270.5m, including

15.41 g/t Au over 0.3m from 269.9-270.2m

TUDDH574

11.19 g/t Au over 0.3m from 81.2-81.5m
29.53 g/t Au over 0.9m from 106.1-107.0m, including

21.11 g/t Au over 0.3m from 106.1-106.4m, and

33.74 g/t Au over 0.6m from 106.4-107.0m

TUDDH575

12.07 g/t Au over 0.3m from 77.3-77.6m
16.11 g/t Au over 0.6m from 109.7-110.3m, including

26.24 g/t Au over 0.3m from 110.0-110.3m

5.99 g/t Au over 10.50m from 114.2-124.7m, including

18.53 g/t Au over 1.80m from 119.6-121.4m, and

15.10 g/t Au over 3.60m from 121.1-124.7m, which include

95.06 g/t Au over 0.3m from 121.1-121.4m, and

55.71 g/t Au over 0.3m from 124.4-124.7m

Figure1: Schematic vertical section showing selected infill drilling, Tuvatu. Some of the drillholes shown are off section (e.g. TUDDH571 is N of section, and TUDDH 568 is S of section) and are projected onto the section for clarity.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2178/114492_f9f1259c345cc90f_001full.jpg

Table 1: Drilling Intervals >0.5 g/t Au Reported (intervals > 3.0 g/t Au cutoff and wider than 2.0m are bolded)

Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUDDH-567	62.9	65.8	2.9	2.13
including	64.1	64.4	0.3	7.85
	67.0	67.6	0.6	0.5
	69.4	70.0	0.6	1.49
	72.1	72.8	0.7	2.25
	78.3	78.6	0.3	0.76
	79.9	84.8	4.9	1.59
including	83.5	83.8	0.3	5.03
	88.1	92.2	4.1	0.89
	93.4	97.3	3.9	0.62
	103.1	103.7	0.6	1.13
	106.1	107.3	1.2	2.32
	110.0	112.5	2.5	6.09
including	111.9	112.5	0.6	21.28
	115.3	116.2	0.9	5.43
	136.1	137.3	1.2	2.87
TUDDH-568	no significant results
TUDDH-569	58.3	59.2	0.9	6.12
including	58.8	59.2	0.4	8.9
	78.4	78.7	0.3	1.78
	82.0	82.6	0.6	0.93
	93.1	93.7	0.6	6.79
	101.8	103.0	1.2	0.96
	105.4	106.9	1.5	0.82
	132.4	134.4	2.0	3.64
including	133.6	134	0.4	15.78
	155.9	156.3	0.4	1.32
TUDDH-570	33.5	35.2	1.7	1.71
	39.7	40.4	0.7	12.78
	41.6	42.2	0.6	2.53
	46.0	49.9	3.9	1.41
	53.5	56.4	2.9	0.89
	60.3	60.9	0.6	0.95
	65.4	66.0	0.6	1
	72.7	73.3	0.6	3.51
	84.4	84.7	0.3	3.29
	88.1	90.5	2.4	0.72
	91.7	95.8	4.1	1.35
	99.3	99.6	0.3	0.68
	102.6	104.4	1.8	1.21
	107.0	114.7	7.7	4.09
including	110.1	110.8	0.7	15.96
including	111.1	111.7	0.6	6.87
also including	113.8	114.7	0.9	6.26
	115.9	117	1.1	3.41
	118.8	121.3	2.5	4.8
including	118.8	119.1	0.8	13.17
which also includes	119.1	119.6	0.5	15.87
	130.0	132.6	2.6	6.4
including	130.0	130.9	0.9	9.3
including	132.1	132.6	0.5	16.13
	135.6	136.5	0.9	0.86
	137.7	143.5	5.8	3.13
including	142.0	142.3	0.3	39.36
	147.5	149.3	1.8	0.77
	151.4	152.3	0.9	2.62
including	151.4	151.7	0.3	5.54
	154.0	157.6	3.6	8.99
including	154.0	154.3	0.3	7.3
and including	155.2	156.1	0.9	11.79
which also includes	157.0	157.6	0.6	30.28
	161.5	163.6	2.1	4.38
including	161.5	162.1	0.6	7.49
including	162.7	163.0	0.3	9.59
	165.1	166.3	1.2	1.44
TUDDH-571	30.8	34.7	3.9	77.11
including	30.8	32.6	1.8	162.22
including	30.8	31.1	0.3	179.0
including	31.1	31.4	0.3	61.86
including	31.4	31.7	0.3	210.3
including	31.7	32.0	0.3	190.0
including	32.0	32.3	0.3	261.0
including	32.3	32.6	0.3	71.13
including	34.4	34.7	0.3	16.96
	75.5	76.1	0.6	0.64
TUDDH-572	29.8	30.4	0.6	0.85
	35.5	36.1	0.6	5.1
	37.3	42.4	5.1	0.58
	44.2	47.2	3	4.94
including	44.2	45.4	1.2	8.04
which includes	44.2	44.5	0.3	20.4
	48.4	49.6	1.2	0.61
	63.4	63.7	0.3	2.75
	66.1	67.3	1.2	0.55
	73.6	75.4	1.8	1.13
	82.6	83.2	0.6	5.66
including	82.6	82.9	0.3	7.85
	85.0	85.3	0.3	6.78
	87.1	94.9	7.8	12.56
including	87.1	88.3	1.2	54.43
which includes	87.1	87.4	0.3	19.67
and	88.0	88.3	0.3	196.0
and also includes	89.8	91.3	1.5	16.04
which includes	89.8	90.4	0.6	34.92
	103.3	106.6	3.3	5.86
including	105.1	105.7	0.6	26.18
which includes	105.1	105.4	0.3	21.39
and includes	105.4	105.7	0.3	30.97
	121.9	122.2	0.3	0.51
	128.2	128.5	0.3	0.5
TUDDH-573	7.4	8.3	0.9	0.7
	10.2	10.5	0.3	2.44
	12.6	16.55	3.95	0.62
	23.0	23.3	0.3	0.52
	27.5	29.1	1.6	9.98
including	27.5	28.4	0.9	16.54
which also includes	27.8	28.1	0.3	31.58
	30.1	37.9	7.8	16.08
including	35.5	37.3	1.8	62.22
including	35.5	35.8	0.3	89.02
including	35.8	36.1	0.3	52.18
which also includes	36.1	36.4	0.3	201.0
	41.5	43.0	1.5	5.05
including	41.5	41.8	0.3	8.86
	51.7	52	0.3	2.14
	58.7	59.9	1.2	1.62
	185.3	185.6	0.3	6.68
	205.4	206.9	1.5	4.06
including	206.6	206.9	0.3	9.2
	216.5	217.4	0.9	0.8
	225.5	225.8	0.3	6.34
	249.0	249.3	0.3	2.06
	269.9	271.7	1.8	4.23
including	269.9	270.5	0.6	10.7
which includes	269.9	270.2	0.3	15.41
TUDDH-574	23.3	24.2	0.9	0.58
	41.0	43.7	2.7	1.66
	49.1	50.6	1.5	2.62
	59.3	59.6	0.3	1.33
	70.1	71.3	1.2	2.78
	81.2	81.5	0.3	11.19
	92.9	93.2	0.3	3.69
	106.1	107.0	0.9	29.53
including	106.1	106.4	0.3	21.11
and	106.4	107.0	0.6	33.74
TUDDH-575	32.3	32.6	0.3	0.66
	33.8	34.1	0.3	0.76
	41.9	44.3	2.4	1.29
including	41.9	42.2	0.3	4.74
and	42.5	43.1	0.6	0.56
and	43.4	43.7	0.3	0.62
and	44.0	44.3	0.3	0.75
	46.4	47.0	0.6	0.68
	48.2	48.5	0.3	0.55
	66.5	67.1	0.6	0.53
	77.0	79.1	2.1	2.18
including	77.0	77.3	0.3	0.57
and	77.3	77.6	0.3	12.07
	78.5	78.8	0.3	1.00
	78.8	79.1	0.3	0.83
	83.6	83.9	0.3	3.30
	85.1	86.3	1.2	1.63
	90.2	90.5	0.3	1.19
	99.2	99.8	0.6	0.79
	106.1	107.0	0.9	3.42
including	106.1	106.4	0.3	4.08
and	106.4	106.7	0.3	1.93
and	106.7	107.0	0.3	4.24
	109.1	110.3	1.2	8.39
including	109.1	109.4	0.3	0.54
and	109.4	109.7	0.3	0.79
and	109.7	110.0	0.3	5.97
and	110.0	110.3	0.3	26.24
	114.2	124.7	10.5	5.98
including	114.2	114.5	0.3	1.32
and	115.4	115.7	0.3	4.35
and	116.0	116.3	0.3	0.50
and	117.2	117.5	0.3	1.08
and	117.5	117.8	0.3	3.30
and	118.7	119.0	0.3	0.52
and	119.6	121.4	1.8	18.53
which includes	119.6	119.9	0.3	6.94
and includes	119.9	120.2	0.3	4.59
and includes	120.2	120.5	0.3	4.45
and includes	121.1	121.4	0.3	95.06
or	121.1	124.7	3.6	15.1
which includes	121.1	121.4	0.3	95.06
and includes	121.7	122.0	0.3	0.57
and includes	122.0	123.2	1.2	2.77
and includes	123.2	123.5	0.3	3.05
and includes	123.5	123.8	0.3	0.73
and includes	123.8	124.4	0.6	7.47
and includes	124.4	124.7	0.3	55.71
	129.5	131.3	1.8	1.21
including	129.5	130.1	0.6	2.81
and	131.0	131.3	0.3	0.67
	132.5	132.8	0.3	4.97
	135.5	135.8	0.3	0.93
	137.6	137.9	0.3	1.41
	143.3	144.5	1.2	1.59
including	143.3	143.6	0.3	1.05
and	143.6	144.2	0.6	1.97
and	144.2	144.5	0.3	1.35
	162.2	162.5	0.3	1.45
TUDDH-576	22.9	23.5	0.6	1.49
	25.0	25.6	0.6	0.63
	29.2	29.5	0.3	1.1
	36.7	38.5	1.8	8.25
including	36.7	37.0	0.3	2.60
and	37.0	37.6	0.6	0.56
and	37.6	38.5	0.9	15.26
	39.7	40.0	0.3	0.57
	43.0	44.2	1.2	0.77
including	43.0	43.6	0.6	0.55
and	43.6	44.2	0.6	0.98

Table 2: Summary of results from selected sample gap intervals from historic drill core

Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUDDH-212	448.1	448.4	0.30	1.25
TUDDH-225	52.70	53.35	0.35	14.10
	54.25	54.85	0.60	1.06
	89.0	89.6	0.60	0.71
	91.1	92.0	0.90	10.98
	94.3	94.6	0.30	3.22
	102.0	103.4	1.40	0.68
TUDDH-356	60.05	60.35	0.30	0.61
	72.2	72.5	0.30	4.21
	77.6	77.9	0.30	0.53
	81.5	82.26	0.76	1.81
TUDDH-362	84.81	85.11	0.30	0.56
	85.41	85.71	0.30	0.69
	85.71	86.01	0.30	1.47
	86.31	86.61	0.30	74.58
	86.91	87.4	0.49	0.53
TUDDH-408	43.23	43.74	0.51	0.54
	44.65	45.25	0.60	1.28
	79.27	79.87	0.60	2.21
	79.87	80.47	0.60	1.80
TUDDH-410	73.2	73.8	0.60	3.38
	118.2	118.8	0.60	1.81
TUDDH-525	466.6	466.9	0.30	0.95
TUDDH-539	131.1	131.7	0.60	6.88
TUDDH-540	62.93	63.23	0.30	4.22
	64.6	64.9	0.30	0.61
	64.9	65.2	0.30	3.87
	69.8	70.4	0.60	2.20
	77.3	77.6	0.30	0.97
	90.7	91.0	0.30	4.11

Table 3: Survey details of diamond drill holes referenced in this release

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUDDH567	3920779	1876395	219.9	183.8	-40	255
TUDDH568	3920686	1876364	255.1	112.9	-75	258
TUDDH569	3920779	1876396	219.9	191.7	-69	252
TUDDH570	3920780	1876396	220.0	233.3	-44	270
TUDDH571	3920932	1876510	236.1	847.6	-62	147
TUDDH572	3920779	1876396	219.9	203.5	-60	270
TUDDH573	3920796	1876351	209.7	779.2	-66	131
TUDDH574	3920779	1876396	219.9	182.6	-70	270
TUDDH575	3920779	1876396	219.9	164.3	-47	285
TUDDH576	3920779	1876396	219.9	200.5	-60	285
TUDDH577	3920435	1876513	348.0	in progress	-40	270

TUDDH-212	3920664	1876757	281.3	600.5	-58	245
TUDDH-225	3920737	1876336	222.8	300.3	-60	330
TUDDH-356	3920760	1876260	205.5	112.9	-61	010
TUDDH-362	3920775	1876303	219.6	132.0	-65	360
TUDDH-408	3920767	1876337	225.0	140.6	-70	330
TUDDH-410	3920731	1876309	228.9	143.6	-65	340
TUDDH-525	3920796	1876351	209.4	350.6	-57	123
TUDDH-539	3920733	1876297	225.1	186.2	-72	004
TUDDH-540	3920733	1876297	225.1	168.2	-60	001

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sergio Cattalani, P. Geo, who is a qualified person pursuant to National Instrument 43-101 – Standards of disclosure for Mineral Projects (“NI-43-101).

About Tuvatu

The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report “Tuvatu Gold Project PEA”, dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, and subsequently updated in January 2018 as disclosed in the technical report and PEA by Tetra Tech “Technical Report and Preliminary Economic Assessment Update for the Tuvatu Gold Project, The Republic of Fiji” dated September 2020, comprises 1,007,000 tonnes Indicated at 8.48 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

About Lion One Metals Limited

Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa caldera, an underexplored yet highly prospective 7km diameter volcanic edifice of alkaline affinity. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for 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 labour 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/114492

Tags #LIO, #LionOneMetals, #MauriceJackson, #Tuvatu, #WalterBerukoff, Proven and Proabble

Junior Mining Lion One Metals Precious Metals

Lion One Reports Additional High Grade Results from Ongoing Infill Drill Program Including 359.8 g/t Au Over 1.8m Including 1616.0 g/t Au Over 0.4m, And 294.5 g/t Au Over 0.3m From near Surface at Tuvatu, Fiji

Post author By admin
Post date January 25, 2022

North Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce additional results from the infill drill program undertaken in the near-surface portion of the Tuvatu deposit. This program was designed to further strengthen the database in the portion of the deposit earmarked for earliest production, from the Company’s 100% owned Tuvatu alkaline gold project in Fiji.

– ~6735m of drilling completed in 38 holes since the start of infill program (~85% of the proposed program completed)

Highlights from near-surface infill drilling include:

TUDDH555

126.62 g/t Au over 0.70m from 133.00-133.70m, including

294.50 g/t Au over 0.30m from 133.40-133.70;

8.25 g/t Au over 2.90m from 137.60-140.50m, including

28.67 g/t Au over 0.60m from 139.10-139.70m,
15.72 g/t Au over 0.30m from 139.40-139.70m,

9.31 g/t Au over 1.70m from 145.00-146.70m, including

31.63 g/t Au over 0.40m from 145.90-146.30m

TUDDH557

17.60 g/t Au over 5.0m from 113.80-118.80m, including

125.50 g/t Au over 0.60m from 115.3-115.9m

35.63 g/t Au over 0.30m from 150.40-150.70m

TUDDH559

14.21 g/t Au over 1.20m from 119.8-121.0m;
6.23 g/t Au over 3.7m from 142.50-146.20, including

22.44 g/t Au over 0.60m from 143.1-143.7m, and
14.48 g/t Au over 0.30m from 145.6-145.9m

TUDDH562

111.40 g/t Au over 0.40 from 164.7-165.1m (Figure 3B, 3C in previous press release)

TUDDH563

20.41 g/t Au over 0.30 from 13.66-13.96m (Figure 3A in previous press release)
63.26 g/t Au over 0.30 from 52.49-52.79m
68.50 g/t Au over 0.30 from 164.55-164.85m

TUDDH565

35.64 g/t Au over 0.40m from 63.8-64.2m
359.76 g/t Au over 1.80m from 70.8-72.6m, including

1616.0 g/t Au over 0.40m from 71.1-71.5m (Figures 3-4, this release)

13.34 g/t Au over 1.70m from 92.9-94.6m, including

42.09 g/t Au over 0.40m from 93.3-93.7m

4.28 g/t Au over 5.10m from 117.3-122.4m
10.03 g/t Au over 0.60m from 141.9-142.5m, including

17.75 g/t Au over 0.30m from 142.2-142.5m

18.61 g/t Au over 0.70m from 154.8-155.5m

TUG136

16.19 g/t Au over 0.60m from 75.7-76.3m, including

30.97 g/t Au over 0.30m from 76.0-76.3m

4.71 g/t Au over 4.20m from 77.9-82.1m, including

10.76 g/t Au over 0.30m from 77.9-78.2, and
12.62 g/t Au over 0.6 from 78.5-79.1m

TUG137

16.44 g/t Au over 4.20m from 106.4-110.6m, including

26.11 g/t Au over 0.60m from 107.6-108.2m, and

22.80 g/t Au over 2.10m from 108.5-110.6m, which includes

45.35 g/t Au over 0.30m from 109.4-109.7m, and
37.40 g/t Au over 0.30m from 110.0-110.3m

Infill Drilling Program
Multiple bonanza-grade intercepts have been returned from the ongoing near-surface infill/definition drill program which is aimed at a thorough re-appraisal of the database in portions of the resource earmarked for earliest production. The current ~8000m infill drill program was initiated in June of 2021 with the aim of infilling areas of low data density within parts of the resource currently categorized as Inferred. To date, a total of ~6735m of diamond drilling over 38 holes have been completed, with ~15% of the proposed program remaining. Final results are here reported from a total of 10 holes, 7 of which were drilled specifically as part of the infill program (TUDDH555-562, 565) and three of which were drilled as part of the deep program testing the 500 Zone, but which intersected high grade mineralization in the near-surface (TUDDH563, TUG136, 137). Figures 1-3 illustrate schematically the location of drill holes reported here, and mineralized intervals relative to modelled lodes.

The exceptional grades returned from hole TUDDH565 at a downhole depth of ~71.2m, of 1616.0 g/t Au corresponds to a complex vein of centimetric width at low to moderate angle to core axis, consisting of coarse, subhedral honey sphalerite, fine skeletal marcasite and coarse visible gold in a groundmass of amorphous gray quartz. The vein also contained coarse vugs lined by clear crustiform euhedral quartz crystals and abundant delicate wire native gold. Figures 4 and 5 show some of the coarse visible gold intersected at this interval as well as other mineralogical characteristics. A complete set of results for all near-surface drill intersections reported here is included as Table 1; drill hole parameters are included as Table 2. Results from deeper drill intersections will be reported in a subsequent news release.

The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill drilling from surface and underground, 2) deep exploration drilling from surface and underground targeting lode extensions and additional feeders under the Tuvatu resource. Regional drill programs requiring access to remote parts of the Navilawa caldera has been interrupted during the wet season, but will resume in early 2022.

Sergio Cattalani, Lion One’s Senior Vice President Exploration, commented, “Exceptionally high grade mineralization has been defined in the near-surface portion of the deposit. High grade mineralization is showing to be more consistent and appears to form wider zones with good continuity than what had been previously modelled. I am increasingly confident that once underground mining is underway, the average head grade of the ore earmarked for early production will be higher than previously modelled. The additional data generated by the infill drilling and resampling programs currently underway are indicating that portions of the orebody return higher grades over multiples of minimum mining widths that are not defined by the current resource model.

Our objective remains clear: to work toward a near-term modest production start, concomitant with an aggressive exploration program aimed at the continued expansion of bonanza-grade resources both near-surface and along defined feeder conduits at greater depths, for the eventual scaled-up development of a larger and more valuable resource.“

Figure 1:Left) schematic cross-section across the northern part of Tuvatu showing the location of some infill drill holes, with selected results. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes. Note that many of the mineralized intervals do not correspond with the previously modelled lodes, suggesting the possibility of previously unrecognized mineralization.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%201.jpg.

Figures 2, 3:Left) schematic cross-sections across the northern part of Tuvatu showing the location and selected results from some of the drill holes reported here. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%202.jpg.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%203.jpg.

Table 1: Drilling Intervals Reported (intervals greater than 3.0 g/t Au cutoff and wider than 2.0m are bolded)

Drill Hole	From (m)	To (m)	Interval (m)	Au (g/t)
TUDDH-225 (resampled)	52.7	53.7	1.0	9.62
including	52.7	53.4	0.7	14.1
TUDDH-408 (resampled)	83.7	85.7	2	6.12
including	83.7	84.3	0.6	14.2
TUDDH-555	24	24.9	0.9	0.67
	118	118.9	0.9	1.41
	133	133.7	0.7	126.62
including	133.4	133.7	0.3	294.5
	137.6	140.5	2.9	8.25
including	137.6	138	0.4	12.93
and	139.1	139.7	0.6	28.67
which includes	139.1	139.4	0.3	41.61
and	139.4	139.7	0.3	15.72
	141.8	143.1	1.3	8.56
including	141.8	142.2	0.4	12.34
and	142.5	143.1	0.6	8.81
	145	146.7	1.7	9.31
including	145.9	146.3	0.4	31.63
	150.8	151.3	0.5	0.63
TUDDH-556	124	125.2	1.2	3.23
	127.3	127.9	0.6	0.9
	147	147.4	0.4	0.59
	173.4	174	0.6	1.54
	176.7	177	0.3	2.46
TUDDH-557	102.7	104.2	1.5	1.02
	105.7	112.6	6.9	3.89
including	108	108.6	0.6	26.56
	113.8	118.8	5.0	17.6
including	115.3	115.9	0.6	125.5
including	118.2	118.8	0.6	9.69
	133.6	134.9	1.3	0.57
	144.4	144.8	0.4	2.6
	150.4	150.7	0.3	35.63
TUDDH-559	22.6	22.9	0.3	4.39
	101	101.9	0.9	1.09
	115.7	116.6	0.9	1.18
	119.8	121.0	1.2	14.21
	131.3	131.6	0.3	5.78
	135.9	138.3	1.2	4.09
including	137.7	138.3	0.6	7.42
	142.5	146.2	3.7	6.23
including	143.1	143.7	0.6	22.44
and	144.7	145.00	0.3	9.34
and	145.6	145.9	0.3	14.48
	155.4	155.7	0.3	2.99
	181.1	181.7	0.6	5.38
TUDDH-560	24.4	24.8	0.4	0.62
	144.3	144.7	0.4	1.44
TUDDH-562	42.1	42.5	0.4	5.58
	129.9	130.3	0.4	3.88
	132	132.3	0.3	2.89
	158.4	158.8	0.4	3.7
	164.7	165.1	0.4	111.4
	166.7	167.1	0.4	1.17
	218.3	218.6	0.3	1.37
TUDDH-563	13.66	13.96	0.3	20.41
	14.86	15.1	0.24	0.83
	18.8	19.1	0.3	0.57
	21.8	22.4	0.6	5.13
	25.2	26.4	1.2	1.58
	52.49	52.79	0.3	63.26
	58.1	58.5	0.4	6.48
	125.25	125.55	0.3	0.58
	164.55	164.85	0.3	68.5
	300.15	300.65	0.6	1.04
TUDDH-565	45.5	46.1	0.6	0.86
	52.8	54.3	1.5	0.52
	56.4	57.6	1.2	2.84
	59.1	61.5	2.4	1.73
	63.8	64.2	0.4	35.64
	66.6	67.8	1.2	0.59
	70.8	72.6	1.8	359.76
including	71.1	71.5	0.4	1616.0
	73.8	74.3	0.5	1.36
	75.8	79.4	3.6	2.73
	88.7	90.3	1.6	8.52
	92.9	94.6	1.7	13.34
including	93.3	93.7	0.4	42.09
	99.5	100.1	0.6	1.79
	117.3	122.4	5.1	4.28
including	119.4	120.0	0.6	7.22
	139.5	140.7	1.2	0.68
	141.9	142.5	0.6	10.03
including	142.2	142.5	0.3	17.75
	152.4	153.6	1.2	1.37
	154.8	155.5	0.7	18.61
TUG-136	3.4	4.0	0.6	0.5
	65.5	65.8	0.3	0.59
	69.4	69.7	0.3	6.34
	75.7	76.3	0.6	16.19
including	76	76.3	0.3	30.97
	77.9	82.1	4.2	4.71
including	77.9	78.2	0.3	10.76
and	78.5	79.1	0.6	12.62
and	80.6	80.9	0.3	6.57
and	81.2	81.5	0.3	7.63
	102	102.3	0.3	1.89
	103.6	103.9	0.3	0.53
TUG-137	5.0	5.7	0.70	0.5
	29.3	30.0	0.70	2.32
	106.4	110.6	4.20	16.44
including	107.6	108.2	0.60	26.11
which includes	107.6	107.9	0.30	40.65
and including	108.5	110.6	2.10	22.8
which includes	109.4	109.7	0.30	45.35
and also includes	110	110.3	0.30	37.4
	161.4	161.7	0.30	1.43
	169.3	169.6	0.30	1.97

Table 2: Survey details of diamond drill holes referenced in this release not previously reported

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUDDH555	3920724.8	1876385.7	237.0	239.50	-74	274
TUDDH556	3920725.3	1876384.4	237.0	182.30	-48	285
TUDDH557	3920725.2	1876385.0	237.1	241.00	-64	284
TUDDH559	3920724.8	1876385.7	237.0	188.70	-75	270
TUDDH560	3920723.1	1876385.2	237.0	220.90	-60	240
TUDDH562	3920723.3	1876385.5	237.0	244.20	-70	248
TUDDH563	3920796.3	1876351.1	209.7	875.00	-63	121
TUDDH565	3920779.0	1876396.0	219.8	200.50	-59	253
TUG136	3920759.6	1876459.2	139.1	617.40	-58	151
TUG137	3920759.0	1876459.0	139.1	686.70	-68	163
TUDDH225	3920737.3	1876336.3	222.8	300.25	-60	330
TUDDH408	3920767.2	1876336.5	225	140.6	-65	320

Figure 4:A) Photo of a portion of uncut drill core from TUDDH565, with a vuggy quartz vein of centimetric width at 71.20m depth. This 0.40m sample returned 1616 g/t Au. B) Close-up of a portion of the vein showing subhedral sphalerite, dendritic marcasite and coarse visible gold. C) Closer view of dendritic marcasite clusters suggesting rapid growth and conditions of supersaturation, in a groundmass of amorphous gray silica.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%204.jpg.

Figure 5: Close-up views of crustiform to druzy euhedral quartz and visible wire gold that line the vugs in the TUDDH565 sample from Figure 3, above.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/2178/111473_lion%20one%20fig%205.jpg.

Drilling and Assay Processes and Procedures
The Company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ sized drill core rods. Drill core is logged by Company geologists and then is sawn in half and sampled by Lion One staff.

Samples are analyzed at the Company’s own geochemical laboratory in Fiji, whilst pulp duplicates of all samples with results >0.5g/t Au are re-assayed, as well as sent to ALS Global Laboratories in Australia for check assay determinations. All samples for all high-grade intercepts reported here are will be sent to ALS Global Laboratories for check assays shortly. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10g/t Au are then re-analyzed by gravimetric method. For certain high-grade samples for which results for duplicate assay are within 10% of the initial results, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples sent to ALS Townsville, Queensland, Australia are analyzed by the same methods (Au-AA26, and also Au-GRA22 where applicable). ALS also analyze for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES. (method ME-ICP61).

Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sergio Cattalani, P. Geo, who is a qualified person pursuant to National Instrument 43-101 – Standards of disclosure for Mineral Projects (“NI-43-101).

About Tuvatu
The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report “Tuvatu Gold Project PEA”, dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, and subsequently updated in January 2018 as disclosed in the technical report and PEA by Tetra Tech “Technical Report and Preliminary Economic Assessment Update for the Tuvatu Gold Project, The Republic of Fiji” dated September 2020, comprises 1,007,000 tonnes Indicated at 8.48 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa caldera, an underexplored yet highly prospective 7km diameter volcanic edifice of alkaline affinity. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for the adequacy or accuracy of this release.

Tags #LIO, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #Tuvatu, #WalterBerukoff

Junior Mining Lion One Metals

Lion One Announces AGM Results

Post author By admin
Post date December 24, 2021

North Vancouver, British Columbia–(Newsfile Corp. – December 23, 2021) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce the results of its Annual General Meeting (“AGM“), held on December 16, 2021. According to the meeting Scrutineers report, 128 shareholders were represented at the meeting, in person or by proxy, representing 39,544,470 common shares or 25.29% of the 156,371,893 common shares outstanding on the October 27, 2021 record date for the Meeting.

All resolutions presented to the shareholders were approved with over 95% of votes cast being in favor of each resolution (see the SEDAR filing of the Company’s Information Circular, dated November 2, 2021). As a result,

Davidson & Company LLP was re-appointed as the auditor of the Company
The number of Directors was set at four with the following nominees elected as directors: Walter Berukoff, Richard Meli, Kevin Puil, and David Tretbar
The Company’s Stock Option Plan was re-approved

Following the AGM, management gave a brief overview of the Company’s plans for the development of the Tuvatu gold processing plant in Fiji, including the award of the design and procurement work. The Company plans to provide additional information about its development plans in early 2022 along with further drilling results from its ongoing exploration programs.

The Circular is available on the Company website at www.liononemetals.com and under Lion One’s profile on SEDAR at www.sedar.com.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108450

Tags #LIO, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #WalterBerukoff

Junior Mining

Lion One Encounters Deep and Shallow High-Grade Gold Mineralization at Tuvatu

Post author By admin
Post date January 18, 2021

Press Release

Corporate Presentation

“The high-grade intercept of 3.47m grading 20.71 g/t Au encountered in hole TUDDH514 is fully 100m vertically below and 7m along strike from our high-grade intercept in hole TUDDH500 and its wedge holes,” commented Dr. Quinton Hennigh, technical advisor to Lion One. “This is a big step-out and gives us high confidence we have discovered a significant root structure below the Tuvatu lode system. In addition, this hole encountered a somewhat shallower high-grade intercept of 2.24m grading 13.31 g/t Au on a second deep-rooted lode. For a system that hosts approximately 2,500-3,000 oz of resource per vertical meter, seeing these deep holes deliver such high-grade intercepts well-below the existing resource is encouraging. We are quite keen to see what wedge hole, TUDDH514w1, and our other deep hole, TUDDH517, deliver as they further test these deep high-grade lodes. Soon, we will see arrival of our underground drill rigs, further allowing us to ramp up the pace of exploration. This is shaping up to be a very busy year at Tuvatu.”

For further information
Contact Investor Relations
Hamish Greig 604-973-3008
Joe Gray 604-973-3004
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Web: www.liononemetals.com

Tags #LionOneMetals

Junior Mining Precious Metals

Lion One Announces Listing of Warrants

Post author By admin
Post date December 29, 2020

Press Release

Corporate Presentation

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
For further information Leo Karabelas
Contact Investor Relations Focus Communications Inc.
Toll Free (North America) Tel: 1-855-805-1250 or 416-543-3120
Email: info@liononemetals.com or info@fcir.ca
Website: www.liononemetals.com or www.focusir.ca

Tags #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #WalterBerukoff

Junior Mining

Lion One Expands Navilawa Alkaline Gold System

Post author By admin
Post date November 7, 2019

Lion One Metals

(TSX.V: LIO | OTCQX: LOMLF)

“A few weeks ago, we told the mining investment community our plans for Navilawa including BLEG sampling over the newly acquire Navilawa tenement and deep drilling under the Tuvatu resource,” commented Dr. Quinton Hennigh, technical advisor to Lion One. “We are already seeing huge returns from this work. BLEG samples clearly show the alkaline gold system is much larger than previously thought and that we have a vast new area in which to develop drill targets. Our first deep diamond drill hole has encountered multiple lodes including a new style of potentially important high-grade mineralization at Tuvatu. We are off to a very good start, but we have lots more work to do unlock the considerable potential evident at Navilawa.”

LION ONE METALS

T: 604.998.1250
E: info@liononemetals.com

Press Release

Tags #JuniorMining, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

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FOUNDATIONAL READING

Tag: #LionOneMetals

Lion One Discovers Major New Gold Feeder Structure – 20.86 G/t Au over 75.9 Meters at Depth Beneath the Current Resource at Tuvatu, Fiji

Lion One Reports Latest Results from Its Phase 2 Infill Drill Program from Tuvatu, Fiji, Demonstrating Significant New Mineralization, Including a Bonanza Intercept of 584.07 g/t Au Over 0.30m

Lion One Reports Additional High Grade Intercepts, Completes Phase 1 Infill Drill Program at Tuvatu, Fiji

Lion One Reports Additional High Grade Results from Ongoing Infill Drill Program Including 359.8 g/t Au Over 1.8m Including 1616.0 g/t Au Over 0.4m, And 294.5 g/t Au Over 0.3m From near Surface at Tuvatu, Fiji

Lion One Announces AGM Results

Lion One Encounters Deep and Shallow High-Grade Gold Mineralization at Tuvatu

Lion One Announces Listing of Warrants

Lion One Expands Navilawa Alkaline Gold System

Lion One Metals

LION ONE METALS