Tag: #QuintonHennigh

Lion One Discovers New Near-Surface Lode at Tuvatu and Intersects Ore-Grade Mineralization Associated with Near-Mine CSAMT Anomaly

Post author By admin
Post date December 8, 2022

North Vancouver, British Columbia–(Newsfile Corp. – December 8, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) provides results from near-mine exploration, identifying two new zones of significant mineralization within the footprint of the deposit. A new lode, named URA1 has been discovered during construction of the development decline; its location corresponds to Tuvatu’s near-surface and earliest scheduled production area: Zone 2. The lode has been further defined through underground channel sampling and subsequent diamond drilling. The URA1 lode will be included in the updated Mineral Resource Estimate (MRE) that the Company aims to release in early 2023. Additionally, several hundred meters to the east of Tuvatu, drillhole TUDDH-612 has intersected mineralization corresponding to a distinct CSAMT gradient anomaly. This release presents significant new results from two separate areas within the general Tuvatu deposit footprint (Figure 1).

Highlights URA1

Discovery of near-surface, high-grade URA1 lode from intersection with the development decline, defined through channel sampling (up to 29 g/t Au over 1m in MD-CH-002) and diamond drilling of holes TUDDH-617, 619, and 621 (up to 167.42g/t Au over 0.3m in TUDDH-617, and 27.99 g/t Au over 1.2m in TUDDH-621).
Provides increase in volume of mineralized material within the portion of the deposit scheduled for earliest production.
A general N-S orientation of the lode corresponds to other major lodes (e.g., URW1) and may indicate the presence of an additional series of undiscovered lodes further to the West of Tuvatu.
Underscores the substantial near-mine exploration upside.

Highlights TUDDH-612

New ore-grade mineralization of 18.53 g/t Au over 0.6m from 492m corresponding to a sharp CSAMT geophysical gradient anomaly.
May represent the possible strike extension of the UR4 lode at Tuvatu, that may also include the deep high-grade intercept in TUDDH-494 at >1100m depth.
Tuvatu itself is coincident with a CSAMT gradient of similar magnitude; the recurring correspondence of mineralization with such gradients provides strong validation for the viability of this method for discovery of additional mineralized centers in the caldera. Once completed, this data will provide robust drill targets and substantial projected upside for new discovery.

URA1 lode, Zone 2
During advancement of the 2022 development decline, approximately 75m from the portal entrance, a sharp, clearly defined quartz-sulfide lode was intersected striking NNE-SSW and dipping 84°SE (Figure 2a). This newly identified structure is defined through underground mapping and has control points in space from chip-channel sampling, (results: Table 1) and a three-hole DDH program (TUDDH-617, 619 and 621; Figure 2b) to test the extent of this new lode (results: Table 2). The lode is named URA1, and represents a completely new, previously unmapped structure occurring within the northwestern, near-surface portion of the Tuvatu deposit (Zone 2). The new occurrence discovered near-surface, in a portion of the Tuvatu orebody that is within the current resource estimation extents, illustrates the extraordinary upside potential of the Tuvatu orebody in general. Table 2 lists the interpreted lode for each of the mineralized intercepts in boreholes TUDDH-617, 619, and 621. It is notable that the high-grade intercepts near the bottom of hole TUDDH-617 between 140.1 and 144.6m remain undefined, potentially representing yet another new lode. Moreover, this illustrates the discovery potential of additional mineralization, especially toward the West Zone where relatively sparse drilling has been completed. Notably, this area is defined by historic drilling carried out at a N-S orientation, which would have limited the exposure of the drilling to mineralized lodes trending in the same orientation.

As the discovery and definition of new features continues to add upside, intersection with known lodes, like the Murau 8 lode, intersected with TUDDH-621 at 105.3m returning 4.8m at 30.75 g/t gold continues to provide confidence in the grade continuity of known lodes.

TUDDH-612 and CSAMT profile 6
As part of the Company’s ongoing near-mine exploration program, drillhole TUDDH-612 was completed to test the sharply defined CSAMT¹ gradient anomaly on profile 6 (Figure 3). Drill hole TUDDH-612 intersected 18.53 g/t Au over 0.6m at 491.8m depth along the borehole.

As shown in Figure 1, this area is located several hundred meters from the current Tuvatu mineral resource outline. As such, the mineralization intersected at this location represents a new target zone of potential high-grade mineralization that warrants follow-up. Furthermore, the mineralized intercept in hole TUDDH-612 corresponds closely to the strike projection of the UR4 lode, along with the previously reported, deep intercept in TUDDH-494 of 12.2 g/t Au at a depth along the hole of 1106.3m (see April 8, 2022 news release). As such, these intercepts may indicate the extension of the UR4 lode toward the northeast and at depth, increasing LIO’s confidence that the mineralized structure has continuity over space for several hundred meters both to the east and at depth. This structure remains open along strike and up and down dip.

The mineralization observed (Figure 3) corresponds directly with a sharply defined CSAMT gradient anomaly, thus lending significant credence to the application of CSAMT for targeting new zones of potential mineralization. The infill CSAMT survey lines completed in 2022 to complement the previous 2019 survey, are currently in final phase of interpretation. The interpreted survey results will be the subject of a future release. It is expected that once finalized, the combined CSAMT geophysical data from previous and recent surveys will play a significant role in outlining new zones of mineralization near Tuvatu, as well as regionally throughout the Navilawa caldera. A third program of CSAMT geophysics will commence in 2023 and is expected to contribute to coverage of the Navilawa caldera within LIO’s most prospective areas of interest.

Table 1. Chip-channel results from sampling of the URA1 lode, development decline.

Channel ID	From m	To m	Width m	Composited Grade g/t Au	*Cumulative gm**
MD-CH-001	0.0	2.5	2.5	9.94	24.86
MD-CH-002	0.0	1.0	1.0	29.02	29.02
MD-CH-003	1.0	3.0	2.0	8.91	17.83
MD-CH-004	1.5	3.0	1.5	11.93	17.89
MD-CH-005	1.0	2.5	1.5	15.17	22.75
MD-CH-006	0.0	3.0	3.0	5.62	16.87
MD-CH-011	0.0	2.5	2.5	10.46	26.15

Figure 1. Plan view of the Tuvatu deposit lodes (gray) showing the locations of the exploration and development declines (red), the new URA1 lode (blue) to the west, and TUDDH-612 borehole to the east. The dotted arrow indicates the possible strike extension of the UR4 lode.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_002full.jpg

Figure 2a. Photo of URA1 lode located along the northeast wall of the new development decline. The vein at this location is approximately 20 cm wide.

To view an enhanced version of Figure 2a, please visit:
https://images.newsfilecorp.com/files/2178/147248_lionfigure2.jpg

Figure 2b. Oblique view (looking NE) of the URA1 lode (blue) showing the locations of the exploration and development declines (red), and the follow-up boreholes TUDDH-617, 619, and 621.

To view an enhanced version of Figure 2b, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_004full.jpg

Figure 3. Oblique view showing the locations of borehole TUDDH-612 relative to the CSAMT profile 6, and the exploration and development declines. The location of the high-grade intercept in TUDDH-612 at 18.53 g/t Au is indicated by the red dot. Green dots represent values between 0.5 and 3.0 g/t Au.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_005full.jpg

Table 2. Results from URA1 drilling. The interpreted lode for each intercept is indicated.

Hole ID	From (m)	To (m)	Interval (m)	Au g/t	Lode
TUDDH-617	51.9	53.1	1.2	0.99	Murau 4
	56.1	58.2	2.1	1.76	URA 1
including	57.9	58.2	0.3	6.30	URA 1
	59.7	63.3	3.6	2.93	URA 1
including	59.7	60.0	0.3	17.01	URA 1
	81.9	82.8	0.9	1.20	undefined
	140.1	141.0	0.9	56.22	undefined
including	140.7	141.0	0.3	167.42	undefined
	143.4	144.6	1.2	19.27	undefined

TUDDH-619	29.3	32.6	3.3	1.82	Murau 4
	41.3	42.5	1.2	0.52	undefined
	47.6	48.8	1.2	2.79	Murau 5
	50.6	51.2	0.6	5.03	Murau 5
including	50.9	51.2	0.3	8.26	Murau 5
	52.4	52.7	0.3	0.66	Murau 5
	65.0	65.3	0.3	3.48	URA 1
	72.2	73.7	1.5	2.78	Murau 7
including	73.4	73.7	0.3	9.66	Murau 7
	148.1	148.7	0.6	0.59	Murau 12

TUDDH-621	77.7	80.1	2.4	6.03	Murau 6
including	78.3	78.6	0.3	43.13	Murau 6
	81.3	83.4	2.1	2.68	Murau 7
including	82.8	83.4	0.6	5.26	Murau 7
	84.6	87.6	3.0	2.24	Murau 7
including	86.7	87.3	0.6	7.37	Murau 7
	105.3	110.1	4.8	30.75	Murau 8
including	105.3	105.9	0.6	54.31	Murau 8
and	105.9	106.5	0.6	8.10	Murau 8
and	106.5	107.4	0.9	56.17	Murau 8
and	107.4	108.3	0.9	46.55	Murau 8
and	108.3	108.6	0.3	11.39	Murau 8
and	108.6	108.9	0.3	13.49	Murau 8
and	108.9	110.1	1.2	8.56	Murau 8
	123.6	124.2	0.6	2.62	Murau 10
	156.0	157.2	1.2	0.81	Murau 11
	159.3	160.5	1.2	27.99	URA 1
	168.0	170.4	2.4	17.06	Murau 12
including	168.0	169.2	1.2	8.62	Murau 12
and	169.2	170.4	1.2	25.51	Murau 12

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	m	Deg.	(TN)
TUDDH-612	3920929.1	1876512.6	236.3	905.8	-60	097
TUDDH-617	3920800.6	1876257.3	203.1	149.9	-60	266
TUDDH-619	3920801.2	1876257.7	203.2	161.1	-60	297
TUDDH-621	3920799.9	1876257.7	203.0	200.7	-69	225

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 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.

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 analyzed 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-analyzed 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. 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 analyzed by 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).

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

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.

¹ CSAMT = Controlled Source Audio Magneto-Tellurics – a ground based geophysical technique that maps 3D electrical resistivity contrasts, inferred to be structural, lithological or hydrothermal-alteration related.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147248

Tags #InvestingInBatteryMetals, #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, best canadian gold stocks, maurice jackson, proven and probable, Quinton Hennigh

Energy Junior Mining Lion One Metals Precious Metals

Lion One Closes C$13.36 Million “Bought Deal” Public Offering of Units

Post author By admin
Post date September 28, 2022

North Vancouver, British Columbia–(Newsfile Corp. – September 28, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has closed its previously announced bought deal offering of 17,348,000 units (the “Units“) (including 1,108,0000 Units issued pursuant to Eight Capital and Canaccord Genuity Corp.’s (together, the “Underwriters“) partial exercise of the over-allotment option granted to the Underwriters) at a price of $0.77 per Unit for gross proceeds of $13,357,960 (the “Offering“).

Each Unit consists of a common share of the Company (each, a “Common Share“) and one-half (1/2) of one common share purchase warrant (each whole common share warrant, a “Warrant“) to purchase a Common Share at a price of $1.05 for a period of 36 months following the closing date of the Offering. In the event that the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSX-V“), or such other principal exchange on which the Common Shares are then trading, is greater than $1.75 for a period of twenty consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving written notice to the holder thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

Pursuant to the Offering the Company issued 1,040,880 compensation warrants (the “Compensation Warrants“) to the Underwriters. Each Compensation Warrant is exercisable to purchase a Common Share at a price of $0.77 for a period of 36 months following the closing date of the Offering.

The net proceeds from the Offering will be used for exploration and development of the Company’s Tuvatu Gold Project.

The Offering was made by way of prospectus supplement dated September 22, 2022 (the “Prospectus Supplement“) to the Company’s base shelf prospectus dated May 13, 2022. Distribution of the Units issued pursuant to the Offering was insufficient to meet the TSX-V’s requirements for the listing of the Warrants so the Company has accordingly not applied to list the Warrants on the TSX-V.

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 use of proceeds from the Offering, 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138668

Tags #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, maurice jackson, proven and probable

Junior Mining Lion One Metals Precious Metals Uncategorized

Lion One & the Curse of Rich Projects

Post author By admin
Post date August 19, 2022

Bob Moriarty
Archives
Aug 19, 2022

Lion One (LIO-V) came out with a press release in early June that shot the shares from $1.04 to $1.67 in less than a week. Obviously the results were excellent. Most of the people who read it appreciated it for what it was. One of the clowns who posts on CEO.CA maintained that the company was only finding high-grade but narrow intercepts and didn’t believe it could be put into production.

So I posted a piece on June 7th and showed Mr. Doom and Gloom a map of Fiji showing the seven million ounces of production from the Vatukoula gold mine only forty km to the North East. The deposits might as well be identical. Same age, same grades and thickness, same type deposit.

The uptick didn’t last long. The shares came off their high and dropped to a low of $1.17 in early July before climbing a little. Gold shares seem to have lost their luster. Right now it really looks like everyone hates gold and gold shares.

That is wonderful news for investors.

But first I want to talk about something that I have been tempted to discuss in one or more of the interviews I have been doing lately. It doesn’t have anything to do with investing but it’s a lifestyle change I learned almost fifty years ago when I worked at Electronic Data Systems. That’s the company that made Ross Perot a billionaire.

EDS made Perot a billionaire within two weeks of the company going public in 1968. He was the first of the billionaires created by taking a company public. When Perot took EDS public only three people made over $1 million. Perot, his secretary and his number 2 man. The company that created the largest number of millionaires was Microsoft. Anyone working there for over five years had picked up enough options by 2000 to be a millionaire. So Perot made the least number of rich employees and Bill Gates made the most.

Perot was a squid; he attended the Naval Academy and served as a line officer in the Navy before leaving the service and going to work with IBM in 1957 selling mainframe computers. In 1962 he formed EDS that made his fortune for him. Perot actually never operated a computer and never wrote a line of code. But he did understand the potential of the machine.

EDS hired me in 1971. We all went through training in Dallas before launching off to whatever contracts EDS had providing computer services. Perot came up with a lot of interesting approaches to life.

The most valuable to me was the concept of how to get a lot of things done. A lot of people who actually believe they are organized will make a list of things they want to do and figure out when it will be convenient to do them.

Don’t ever do things when they are convenient. You will never accomplish very much.

Do things when they are inconvenient.

And the more inconvenient the better. That sounds counter intuitive much like investing in stocks when people hate them but it actually works in real life in both cases.

You see, no matter what you want to do, a lot of the time, in fact most of the time; it’s just inconvenient to do something. There are a lot more inconvenient times to do things than convenient times. So you will accomplish a lot more by doing them when they are a pain in the ass to do. They might never become convenient.

Lion One announced another set of great assays at their Tuvatu Gold mine in Fiji on the 12th of August. Since then the shares have dropped 16%. That’s simply nuts or the assays did nothing more than create a liquidity event. Tuvatu is 100% owned with no NSR.

Lion One came out with a 43-101 back in June of 2014 showing slightly over 910,000 ounces of gold at a 1.0-gram cutoff. They have done a lot of drilling and intercepts since. Remember their neighbor 40 km away has already produced seven million ounces of gold and has another four million identified.

But rich projects require a lot of money and a lot of time to advance. Lion One is drilling for expansion of their resource at the same time they are doing mine planning for their mill scheduled to be into production in Q4 of 2023.

Lion One is my biggest single position. I have an average cost of $1.18 and as of today it trades at $1.16. But I only know half a dozen stocks that have the market cap potential of Lion One and it is by far the cheapest in relative terms. The company has excellent management and technical team. They have their own lab on site supporting the six drill rigs turning.

Lion One is an advertiser. I am a shareholder and just as biased as I can be so do your own due diligence.

Lion One Metals
LIO-V $1.16 (Aug 18, 2022)
LOMLF OTCQX 156.4 million shares
Lion One website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags #321Gold, #BobMoriarty, #JuniorMining, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #WalterBerukoff, LIO

Energy Junior Mining Lion One Metals Precious Metals

Lion One Confirms High-Grade Gold Feeder Zone at Tuvatu, Fiji with TUDDH-601 Returning 54.9m of 12.22 g/t Au Including 20.10m of 23.03 g/t Au

Post author By admin
Post date August 15, 2022

North Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from ongoing follow-up drilling to the previously reported high-grade intercept of 75.90m of 20.86 g/t Au in TUG-141 (June 6, 2022 NR), at its Tuvatu Alkaline Gold Project in Fiji.

Results for the first two diamond drill holes carried out as follow-up drilling from the significant new feeder zone mineralization in TUG-141 and reported on June 6, 2022 have been received and compiled. TUDDH-601 was drilled from surface at -85° and was designed to further test the high-grade zone encountered in TUG-141, and TUG-145 was drilled from the same underground collar location as TUG-141, collared at 3° steeper, and designed to test directly below the TUG-141 drill trace (Figure 1). TUG-145 drifted to the west and lifted more than expected.

Highlight intercepts from holes TUDDH-601 and TUG-145 include:

TUDDH-601

26.20 g/t Au over 1.20m from 165.7-166.9m;
115.42 g/t Au over 1.80m from 252.4-254.2m;
12.22 g/t Au over 54.90m from 576.1-631.0m, including
– 23.02 g/t Au over 20.10m from 576.1-596.2m, which includes 29.24 g/t Au over 15.6m;
– 8.09 g/t Au over 20.70m from 602.5-623.2m, which includes 9.25 g/t Au over 7.80m and 15.03 g/t Au over 5.40m

TUG-145

6.72 g/t Au over 15.30m from 110.4-125.7m, including
– 41.16 g/t Au over 1.20m from 117.3-118.5m;
20.38 g/t Au over 0.90m from 278.7-279.6m;
28.68 g/t Au over 1.80m from 305.4-307.2m;
4.69 g/t Au over 10.20m from 357.9-368.1m, including
– 9.58 g/t Au over 1.20m from 358.8-360.0m,
– 6.99 g/t Au over 1.20m 362.1-363.3m, and
– 8.41 g/t Au over 1.50m from 363.9-365.4m
17.80 g/t Au over 0.30m from 405.9-406.2m;
8.73 g/t Au over 6.00m from 424.2-430.2, including
– 31.94 g/t Au over 1.20m from 426.3-427.5m
18.15 g/t Au over 0.60m from 598.5-599.1m

TUDDH-601 drilled from surface, was a near-vertical drill test of the high-grade gold zone encountered by TUG-141. TUDDH-601 is estimated to have drilled to within <2m of TUG-141. This test indicates that high-grade mineralization corresponding to that in TUG-141 is indeed hosted primarily by altered andesite rather than adjacent monzonite. High-grade mineralization, 54.9m of 12.22 g/t Au, was first intersected at a downhole depth of 576.1m continuing virtually uninterrupted to a downhole depth of 631.0m (Figure 2). Only one low-grade interval, hosted by monzonite and measuring 6.3m long was intersected. Above this low-grade interval, 23.02 g/t Au over 20.1m was encountered including 29.24 g/t Au over 15.60m, and below, 8.09 g/t Au over 20.7m, including 15.03 g/t Au over 5.40m and 9.25 g/t Au over 7.80m, respectively (Figure 3).

TUG-145 represented an inclined hole 3° steeper than TUG-141, drilled from the same underground collar location (Table 2 below). The hole drifted west and lifted such that the effective distance between TUG-141 and TUG-145 was approximately 21m at the 600m depth mark, with TUG-145 west of TUG-141. While TUG-141 drilled out of the less favourable monzonite and into the favourable andesite at approximately 390m depth, TUG-145 remained in monzonite until a depth of approximately 600m, indicating a southward shift of this lithological contact at this location, as illustrated schematically in Figure 4. It is thought that the monzonite to andesite contact recorded by TUG-141, is shifted south along a N-S structure, likely UR1, and that the high-grade continuous mineralization recorded by TUG-141 is largely focussed on the andesite side (east side) of this contact. Therefore, Lion One believes that the lithological contact between monzonite and andesite forms a primary control on high-grade mineralization at this location, and that the projection of this contact to depth as well as along strike, represents a first-order target for further follow-up drilling.

The next two planned follow up holes to TUG-141 are shown on Figure 5 below. One hole from surface, already underway as TUDDH-608, was collared at a planned azimuth of N089° and dip of -65°, targeting the high-grade intercept in TUG-141, and a second hole will collar from underground, approximately 180m further south along the decline from the TUG-141 and 145 collars, and target the same high-grade intercept at a planned azimuth of N139° and dip of -66°. The combination of these two holes should provide good information on the potential width and possible down plunge extent of the TUG-141/TUDDH-601 high-grade zone, which should allow for a realistic estimate of the volume, and hence contained Au ounces, in this zone. Additional follow-up holes are being planned as well.

Lion One technical advisor Quinton Hennigh stated, “As we drill more, the geologic setting of this important feeder zone is coming into clarity. It occurs at a major structural intersection where the north-south-trending UR1 & 2 lodes meet the northeast-trending UR4 & 5 lodes. Importantly, high-grade mineralization appears to be focussed within andesite host rocks just outboard from the contact with less favourable monzonite. With this understanding, we believe that further high-grade can be pursued along this contact at depth. The team is currently lining up more holes to test this extension.”

Lion One CEO Walter Berukoff further stated, “The spectacular discovery previously announced as the result of drilling hole TUG-141 has been confirmed by follow-up drilling in hole TUDDH-601. The positive confirmation of the longest high-grade intercept yet recorded at Tuvatu gives us further confidence that we are just now beginning to unlock the true potential of the 500 Zone high-grade feeder. The persistent success of our systematic drilling programs at Tuvatu underscores the significance of Tuvatu as a potentially multi-million ounce, world-class high-grade Au deposit.”

Figure 1. Image from Leapfrog software showing the modeled lodes representing the Tuvatu resource in semi-transparent gray with the traces of drill holes TUG-141, TUG-145 drilled from the same location along the exploration decline, and TUDDH-601 drilled at a dip of -85° from surface. Lower image overlays the mineralized intervals as colored discs that reflect grade (see Figure 3 caption for grade scale).

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig1.png

Figure 2. A) TUDDH-601 at 579.7m showing pervasively altered andesite grading 142.33 g/t Au; B) close-up of photo A; C) TUDDH-601 at 580.0m grading 108.99 g/t Au; D) close-up of photo C.

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Figure 2 contd. E) TUDDH-601 at 580.2m qtz-py hydrothermal bx vein grading 140.99 g/t Au; F) close-up of photo A; G) TUDDH-601 at 583.5m showing hydrofractured qtz-py vein grading 4.73 g/t Au; H) TUDDH-601 at 593.9m showing coarse visible gold in qtz-py veining grading 230.37 g/t Au.

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig2cont.png

Figure 2 contd. I) TUDDH-601 at 592.2m showing very fine py-VG veins in pervasively altered andesite grading 33.77 g/t Au; J) close-up of photo I; K) TUDDH-601 at 609.0m qtz-py-roscoelite vein grading 10.49 g/t Au; L) TUDDH-601 at 610.8m qtz-py vein grading 20.31 g/t Au.

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig2cont2.png

Figure 2 contd. M) TUDDH-601 monzonite-andesite contact at 617.0m grading 5.48 g/t Au; N) TUDDH-601 at 617.8m qtz-py vein in bleached andesite grading 11.67 g/t Au; O) TUDDH-601 at 621.5m qtz-py vein in bleached andesite grading 2.54 g/t Au; P) TUDDH-601 at 628.3m qtz-py vein in sercitized andesite grading 20.14 g/t Au.

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Figure 3. Vertical section looking West of the mineralized intervals in TUG-141 and TUDDH-601 that were drilled in essentially the same plane. Grades in ppm Au shown as colored discs are as follows: 0.1-0.2, blue; 0.2-0.3, light blue; 0.3-0.5, green; 0.5-1.0, yellow; 1-3, orange; 3-10, red; >10, fuschia.

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Figure 4. Schematic diagram of a horizontal plan at approximately RL= -260m illustrating the interpreted interplay between mineralized lodes and lithologic contact between monzonite (pink) and andesite (green), in the area of the TUG-141 high-grade discovery. The NE-trending monzonite-andesite contact is shifted to the south along UR1 at the location of the mineralization intersected by drill holes TUG-141 and TUDDH-601. Lodes UR1-UR2 pair appears to merge together at depth, with the NS-oriented lodes intersected by the NE-SW UR4 lode.

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https://images.newsfilecorp.com/files/2178/133850_1ce6c2b80467589e_064full.jpg

Figure 5. Figure looking North and down 45° showing the next two planned drill holes (yellow) testing the high-grade zone discovery of TUG-141. Planned hole 1 from surface which has started drilling as TUDDH-608 will test the width of the zone; planned hole 2 from the underground decline is scheduled to begin drilling soon and will test for possible down plunge extent.

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https://images.newsfilecorp.com/files/2178/133850_1ce6c2b80467589e_065full.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).

Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUDDH-601	165.7	166.9	1.2	26.20
Incl.	165.7	166.3	0.6	13.38
Incl.	166.3	166.9	0.6	39.01
	168.1	171.7	3.6	1.00
	190.3	190.6	0.3	4.21
	252.4	254.2	1.8	115.42
Incl.	252.4	252.7	0.3	26.29
Incl.	252.7	253.3	0.6	159.98
	284.8	286.3	1.5	2.37
	362.8	363.4	0.6	1.61
	474.1	474.4	0.6	7.29
Incl.	474.1	474.4	0.3	5.88
Incl.	474.4	474.7	0.3	8.69
	569.8	570.4	0.6	1.49
	576.1	596.2	20.1	23.02
Incl.	579.4	579.7	0.3	142.60
Incl.	579.7	580.0	0.3	109.00
Incl.	580.0	580.3	0.3	140.90
Incl.	580.3	580.6	0.3	263.40
Incl.	580.6	580.9	0.3	74.33
Incl.	580.9	581.2	0.3	25.89
Incl.	581.8	582.4	0.6	18.52
Incl.	583.9	584.2	0.3	5.03
Incl.	585.7	586.3	0.6	9.59
Incl.	586.3	586.6	0.3	9.43
Incl.	586.6	586.9	0.3	15.49
Incl.	586.9	587.2	0.3	18.06
Incl.	587.2	587.8	0.6	5.35
Incl.	588.1	588.7	0.6	39.23
Incl.	588.7	589.0	0.3	7.13
Incl.	589.0	589.6	0.6	26.15
Incl.	591.4	592.0	0.6	10.80
Incl.	592.0	592.6	0.6	33.77
Incl.	592.6	593.2	0.6	10.94
Incl.	593.2	593.5	0.3	28.67
Incl.	593.5	593.8	0.3	32.64
Incl.	593.8	594.1	0.3	230.40
Incl.	594.4	594.7	0.3	18.26
Incl.	594.7	595.0	0.3	50.32
	598.0	600.7	2.7	0.50
	602.5	623.2	20.7	8.09
Incl.	603.1	603.7	0.6	21.52
Incl.	603.7	604.3	0.6	9.40
Incl.	606.1	606.7	0.6	20.45
Incl.	606.7	607.3	0.6	10.48
Incl.	607.3	607.9	0.6	19.67
Incl.	608.5	608.8	0.3	20.64
Incl.	608.8	609.4	0.6	10.49
Incl.	609.4	609.7	0.3	5.74
Incl.	610.6	610.9	0.3	20.31
Incl.	612.7	613.0	0.3	19.61
Incl.	613.0	613.3	0.3	120.91
Incl.	613.6	613.9	0.3	7.67
Incl.	613.9	614.2	0.3	12.69
Incl.	614.2	614.8	0.6	12.29
Incl.	615.1	615.7	0.6	11.67
Incl.	615.7	616.3	0.6	9.65
Incl.	616.9	617.5	0.6	5.48
Incl.	617.5	618.1	0.6	11.67
Incl.	620.8	621.1	0.3	5.14
	625.9	631.0	5.1	8.37
Incl.	626.8	627.1	0.3	10.01
Incl.	627.7	628.3	0.6	20.14
Incl.	629.5	629.8	0.3	18.01
Incl.	630.1	630.7	0.6	24.08
	632.2	632.5	0.3	0.62
	639.1	640.6	1.5	0.58
	842	842.3	0.3	0.50

TUG-145	110.4	125.7	15.3	6.72
Incl.	110.4	110.7	0.3	18.77
Incl.	110.7	111.0	0.3	6.76
Incl.	111.9	112.2	0.3	6.30
Incl.	112.2	112.5	0.3	11.30
Incl.	115.5	115.8	0.3	6.91
Incl.	115.8	116.1	0.3	6.36
Incl.	117.3	117.6	0.3	40.73
Incl.	117.6	117.9	0.3	89.51
Incl.	117.9	118.2	0.3	9.80
Incl.	118.2	118.5	0.3	28.45
Incl.	120.3	120.6	0.3	7.77
Incl.	120.6	120.9	0.3	5.01
Incl.	120.9	121.2	0.3	8.62
Incl.	121.2	121.5	0.3	5.17
Incl.	121.5	121.8	0.3	13.73
Incl.	125.1	125.4	0.3	10.43
	237.6	239.1	1.5	1.36
	262.8	263.4	0.6	3.31
Incl.	262.8	263.4	0.3	5.01
	278.7	279.6	0.9	20.38
Incl.	278.7	279.0	0.3	24.16
Incl.	279.0	279.3	0.3	35.33
	305.4	307.2	1.8	28.68
Incl.	305.4	305.7	0.3	150.76
Incl.	305.7	306.0	0.3	11.51
	357.9	368.1	10.2	4.69
Incl.	358.8	359.1	0.3	6.25
Incl.	359.1	359.4	0.3	19.46
Incl.	359.4	359.7	0.3	9.21
Incl.	360.6	360.9	0.3	5.42
Incl.	361.8	362.1	0.3	5.75
Incl.	362.1	362.4	0.3	9.15
Incl.	362.4	362.7	0.3	9.83
Incl.	363.0	363.3	0.3	7.28
Incl.	363.9	364.2	0.3	14.47
Incl.	365.1	365.4	0.3	22.39
Incl.	366.6	366.9	0.3	6.03
Incl.	367.2	367.5	0.3	11.42
	373.5	374.1	0.6	0.57
	375.3	376.8	1.5	0.83
	378.6	378.9	0.3	2.05
	380.4	381.3	0.9	1.53
	387.9	388.5	0.6	1.30
	405.9	406.2	0.3	17.8
	424.2	430.2	6.0	8.73
Incl.	424.5	424.8	0.3	5.83
Incl.	425.7	426.0	0.3	8.23
Incl.	426.0	426.3	0.3	5.26
Incl.	426.3	426.6	0.3	10.37
Incl.	426.6	426.9	0.3	34.48
Incl.	426.9	427.2	0.3	76.12
Incl.	427.2	427.5	0.3	6.81
Incl.	429.9	430.2	0.3	11.61
	452.7	453.0	0.3	1.08
	598.5	599.1	0.6	18.15
Incl.	598.5	598.8	0.3	33.68
	600.6	600.9	0.3	0.91

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-601	3920444	1876508	347.9	878.9	-85	061
TUG-141	3920759	1876459	139.2	675.0	-55	162
TUG-145	3920759	1876459	139.1	692.1	-58	161
TUDDH-608	3920472	1876281	286.4	800 planned	-65	089
planned hole 2	3920582	1876435	118.0	500 planned	-66	139

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

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/133850

Tags #JuniorMining, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, LIO

Junior Mining Lion One Metals Precious Metals

Lion One Announces Extension of Tuvatu Mine Lease to 2035

Post author By admin
Post date August 8, 2022

This image has an empty alt attribute; its file name is 2d26afd49c61f845bada429872591f65

North Vancouver, British Columbia–(Newsfile Corp. – August 8, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) announces that the Government of Fiji has granted an extension of the Tuvatu Mining Lease (SML 62) for an additional 10 year term renewable on Feb. 28, 2035.

SML 62 is the Company’s cornerstone permit enabling Lion One to build mining and milling operations at Tuvatu, forming part of its 100% owned, high-grade Tuvatu Alkaline Gold Project, located 24km from Fiji’s International Airport in Nadi.

In an official ceremony attended by over 300 dignitaries at Tuvatu yesterday, Lion One CEO Walter Berukoff thanked Fiji’s Attorney General Aiyaz Sayed-Khaiyum, the Mineral Resource Department, and Lion One’s Chief Operating Patrick Hickey, commenting, “I am proud to say that it is with great elation that the Government of Fiji has renewed our special mining lease for the Tuvatu Alkaline Gold Project for another ten years. This lease extension sends a clear message to the world that Fiji continues to be open to public markets which can access critical capital to enable responsible mining projects to be built. Responsible mining will enhance the local socio-economic conditions for all Fijians. To date, we have invested over $140 million into the local economy.”

The development of Tuvatu is guided by Lion One Chief Operating Officer Patrick Hickey, an accomplished engineer with extensive executive-level experience in mine building roles for companies such as Newmont Mining Corporation and Kinross Gold Corp. across Africa, Asia, and North America. Mr. Hickey leads a management team of nine and staff that includes some of the most skilled and experienced exploration and underground mining experts in the South Pacific. Under Mr. Hickey’s leadership, the Company has ramped up its mining development activities at Tuvatu. There are six active drill rigs, an Exploration decline measuring over one kilometre in length, and a fully operational on-site analytical sampling laboratory at production levels threefold from earlier this year.

Mr. Hickey commented, “We very pleased to have been granted this extension after the rigorous assessment process that factored not only the geological and economic potential of Tuvatu, but our environmental risk management strategy, and local landowners and community relationships. This milestone demonstrates the tremendous support the Fiji Government has for both Lion One and its mining industry as we continue our commitment to the communities that we operate in to provide direct employment opportunities and peripheral economic stimulus.”

About Lion One Metals Limited

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133123_ff09dd2ab45fc990_001full.jpg

Figure 1: Tuvatu Project area

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Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Patrick Hickey, P. Eng., Lion One’s Chief Operating Officer, is the Qualified Person for the Company and has reviewed and is responsible for the content of this news release.

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/133123

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

Exclusive Interviews Junior Mining Labrador Gold Precious Metals

(VIDEO) Labrador Gold – Announces 284.1 G/T Gold from Big Vein

Post author By admin
Post date July 11, 2022

Joining us for a conversation is Dr. Roger Moss the CEO as Labrador Gold has just announced its highest-grade mineralization coming from the Big Vein along with updates on the Golden Glove and Midway Targets on the 100% owned Kingsway Project.

Labrador Gold is a Canadian-based mineral exploration (junior mining) company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company is advancing the Kingsway Gold Project, located in the Gander Gold District of Newfoundland. The project is strategically located contiguous to New Found Gold’s Queensway Project and lies along strike to the northeast of their recent discovery of 92.86g/t Au over 19.0 meters.

Key Shareholders: Eric Sprott, Quinton Hennigh, Crescat Capital, Palisaides Goldcorp, & New Found Gold.

Labrador Gold: https://labradorgold.com/
Ticker: TSX.V: LAB | OTCQX: NKOSF
Corporate Presentation: https://labradorgold.com/investors/presentations/
Telephone: (416) 704-8291
Email: info@labradorgold.com

Labrador Gold is partner/sponsor and we are shareholders.

Tags #BigVein, #JuniorMining, #KingswayGoldProject, #KingswayProject, #LAB, #LabradorGold, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #RogerMoss

Junior Mining Labrador Gold Precious Metals

Labrador Gold Raises $3.88 Million From Exercise of Share Purchase Warrants

Post author By admin
Post date June 29, 2022

TORONTO, June 29, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has raised $3,885,285.90 from the recent exercise of share purchase warrants (the “warrants”) with a strike price of $0.175 and $0.30. The warrant exercise increases the Company’s cash position to $26.5 million. Management and directors of Labrador Gold were among those exercising warrants.

“The funds brought in by the exercise of the warrants adds to an already robust treasury and allows us to continue our ongoing exploration of the 12km strike length of the Appleton Fault Zone at our 100% owned Kingsway Project,” said Roger Moss, President and CEO. “The hard work of the LabGold team over the past two years has resulted in the generation and successful drilling of four out of four gold targets. This demonstrates both the ability of our people on the ground as well as the prospectivity of the Kingsway project, and the Appleton Fault Zone in particular. We look forward to another exciting summer of discovery as we prove up more targets in the pipeline and get them ready for drilling.”

Exploration Update

Drilling continues at Kingsway with four drill rigs. Two rigs are working at Big Vein, one testing the down plunge extension of the high-grade HTC Zone below 250m, and the other testing the southwest extension of the Big Vein Zone. A third rig continues to test the Golden Glove target while the fourth rig tests the CSAMT target approximately eight kilometres northeast of Big Vein. The CSAMT target was generated from geophysical (controlled source audio magnetotellurics, magnetics and VLF-EM) and geochemical (gold in soil, rock and till) anomalies and is in an area of structural complexity. Both the Golden Glove and CSAMT targets occur on the east side of the Appleton Fault Zone. Approximately 44% of the 100,000 metre planned program has been completed to date.

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $26.5 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25^th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 168,889,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter @LabGoldCorp

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Tags #JuniorMining, #LAB, #LabradorGold, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #RogerMoss, canadian gold company stocks, canadian gold stocks list, Canadian Mining Stocks, Labrador Gold

Junior Mining Labrador Gold Precious Metals

Labrador Gold | OTCQX Best 50 Virtual Investor Conference: Company Executives Present June 16th

Post author By admin
Post date June 16, 2022

NEW YORK, June 10, 2022 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming OTCQX Best 50 Companies Virtual Investor Conference to be held on June 16 ^th. Individual investors, institutional investors, advisors, and analysts are invited to attend. The program begins at 9:30 AM ET on Thursday, June 16th.

REGISTER NOW AT: https://bit.ly/3ztPQjz

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1×1 meetings.

“We are delighted to welcome ten of our OTCQX Best 50 companies participating in our upcoming Virtual Investor Conference,” said Jason Paltrowitz, OTC Markets Group EVP of Corporate Services. “We are proud to highlight the impressive efforts of these companies which span a range of industries including Technology, Metals & Mining, Industrial Goods, Financials and more.”

June 16 ^thAgenda:

Eastern Time (ET)	Presentation	Ticker(s)
9:30 AM	Global Atomic Corp.	OTCQX: GLATF \| TSX: GLO
10:00 AM	IsoEnergy Ltd.	OTCQX: ISENF \| TSXV: ISO
10:30 AM	InPlay Oil Corp.	OTCQX: IPOOF \| TSX: IPO
11:00 AM	TAAL Distributed Information Technologies Inc.	OTCQX: TAALF \| CSE: TAAL
11:30 AM	Labrador Gold Corp.	OTCQX: NKOSF \| TSXV: LAB
12:00 PM	Deep Yellow Ltd.	OTCQX: DYLLF \| ASX: DYL
1:00 PM	Nanalysis Scientific Corp.	OTCQX: NSCIF \| TSXV: NSCI
1:30 PM	Grayscale Investments LLC	OTCQX: GBTC
TBD	Novonix Ltd.	OTCQX: NVNXF \| ASX: NVX
TBD	Thunderbird Entertainment Group Inc.	OTCQX: THBRF \| TSXV: TBRD

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .

About Virtual Investor Conferences ^®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

Tags #BigVein, #BobMoriarty, #EricSprott, #GoldMiningCompanies, #JuniorMining, #KingswayGoldProject, #LAB, #LabradorGold, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #RogerMoss

Breaking Exclusive Interviews Junior Mining Lion One Metals

Lion One Hits Bigly

Post author By admin
Post date June 7, 2022

I have been waiting for a couple of years to write this story. For years Lion One has been my biggest holding because the story is so simple to understand. I’ve written half a dozen pieces on the company and the last one I wrote was seven months ago. I called it, Buying Lion One is like Stealing. And few listened. The shares were $.97 at the time. Between then and now the stock has barely edged higher in spite of excellent results such as their May 31 press release showing 584 grams of gold per tonne over 0.30 meters.

I love the chat boards. You get to see just how stupid some people can be in their failed attempts to look smart. Here is what someone said on the CEO.CA Lion One board in response on May 31st.

@NabtaPlayaEgypt Tuvatu continues to be restricted to returning very narrow (1/3 meter average) high grade shoots which unless such systems are spaced relatively close en-echelon, may not be economic to mine. At the rate that drilling returns are coming in, that it could take another 2-3 years minimum to create a significant resource update.

Someone wrote me privately and asked what I thought about the comment. Here is how he posted my response.

@WisGuy1 BM response: “Absolute rubbish. There is a similar mine a stone’s throw away that has produced millions of ounces of gold of similar grade and thickness.”
(Click on images to enlarge)

Investing in Lion One at a profit is about as difficult as learning how to fall off a bike. If you can handle that, you can make money on Lion One, because there is an identical age and grade alkaline deposit located about 40 km to the Northeast called the Vatukoula Gold mine. In production from 1932 the Vatukoula mine has produced over seven million ounces of gold and shows a resource of an additional four million ounces.

The deposits are identical in age, grade and type of deposit. So anyone saying you can’t mine a 584-gram intercept of gold over 0.30 meters is blowing smoke.

Alkaline deposits tend to be big. Lion One’s Tuvatu project can easily be as big as Vatukoula. But to satisfy the doubting Thomas of the world Lion One released a world class intercept on June 6, 2022 showing 75.9 meters of 20.86 g/t gold. That’s a 1583 gram/meter hole similar to the home run first hole of Newfound Gold in 2020 with 19.0 meters of 92.86 g/t gold giving a 1764 gram/meter hole.

Lion One is fully permitted to go into production. They built their own assay lab and it is run to industry standards so assays that might take 2-3 months in Canada take 2-3 days in Fiji. Lion One plans on production to begin in Q3/Q4 of 2023.

Lion One has a current 43-101 showing just over 910,000 ounces of gold at an average of 5.61 g/t to 5.8 g/t. I had a short conversation with Wally Berukoff about the production plans. He is shooting for annual numbers of around 100,000 ounces of gold. That is pretty much the magic number. The market will not take any company seriously below that number.

Because of silly Covid restrictions put in by the government of Australia and Fiji, Lion One has been pretty much delayed for two years. The stock hit a high of $2.67 in July of 2020 based on excellent results before drifting lower to a low a month ago of $.88. I’ll stand by every word I said in my piece from November of last year. Buying Lion One is like stealing. They have the goods.

Wally realized the project could not be run remotely from Perth so last year he put in a brilliant on site team in Fiji. If you watch this video, I think you will agree with me in saying that this is one of the most professional teams I have ever seen in twenty years.

Currently the company has about $34 million in cash in the treasury. They have six drills turning with two more on order. The incredible latest hole shows they have tapped into a feeder pipe. They will continue to drill to upgrade and increase the near surface gold resource for near term production but I expect them to pincushion the feeder to determine all its limits.

The worst thing that can happen to any stock is for shareholders to become bored. Once they do, they bail out at the first opportunity to break even. While the stock going up 17.5% on the news with over two million shares trading on the news, I suspect that was a lot of weak hands selling. Look for a couple of quiet days without a lot of price movement and then for the shares to go higher, perhaps much higher. The incredible results of the past two years tell me the high of $2.67 will be revisited soon. Lion One is still cheap.

Until the news of the incredible latest intercept hit the market my personal shares have been underwater for most of the last two years. My average price was $1.18 and it took this news to bring me into profit. But I have believed this story since I first heard it and continued to add to my position as the price dropped. I have never sold a single share and right now I am really glad.

Lion One is an advertiser. I love the company; I love the management and the team that Wally has put together. It will be a mine. It will be profitable and it will be a hell of a lot bigger than anyone imagines today. I expect majors will be sniffing around soon wanting to pick up a piece of it while it’s still cheap. That isn’t going to last long. As with the case of Newfound Gold, intercepts similar to this do not occur in a vacuum. There will be more record-breaking hits in the future.

I own shares and have participated in PPs in the past and will in the future. I am biased so do your own due diligence.

Lion One Metals
LIO-V $1.34 (Jun 06, 2022)
LOMLF OTCQX 156 million shares
Lion One website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags #BobMoriarty, #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, 321gold

Junior Mining Lion One Metals Precious Metals Uncategorized

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).

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

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