Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: LIO; LOMLF

Explorer Drills Deepest Mineralized Intercept to Date at Fiji Project
News Update

Share on Stocktwits

Source:

Lion One Metals also confirms shallow high-grade mineralization at its Tuvatu project.

Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release that two recently drilled holes returned high-grade gold mineralization at its Tuvatu project on Fiji.

One the holes, TUDDH514, encountered two high-grade lodes. One lode was 24 meters (24m) of 13.31 grams per ton gold (13.31 g/t Au) starting at 495.6m, including 0.35m of 64.4 g/t Au.

The other lode returned 3.47m of 20.71 g/t Au beginning at 706.94m and included a significantly high-grade interval, 0.23m of 294.5 g/t Au.

TUDDH514 hit the deepest mineralized intercept encountered to date at Tuvatu: 0.35m of 10.52 g/t Au at 983.15m downhole. The hole was drilled down to 1,014.8m.

The company noted that TUDDH514 confirmed the orientation indicated by prior holes of the deep, high-grade lode hit by TUDDH500, that it is northeast and near vertical. It remains open along strike, updip and at depth.

"The high-grade intercept of 3.47m grading 20.71 g/t Au encountered in hole TUDDH514 is fully 100m vertically below and 7m along strike from our high-grade intercept in hole TUDDH500 and its wedge holes," commented Dr. Quinton Hennigh, technical advisor to Lion One. "This is a big step-out and gives us high confidence we have discovered a significant root structure below the Tuvatu lode system."

"In addition, this hole encountered a somewhat shallower high-grade intercept of 2.24m grading 13.31 g/t Au on a second deep-rooted lode. For a system that hosts approximately 2,500-3,000 oz of resource per vertical meter, seeing these deep holes deliver such high-grade intercepts well-below the existing resource is encouraging. We are quite keen to see what wedge hole, TUDDH514w1, and our other deep hole, TUDDH517, deliver as they further test these deep high-grade lodes," Dr. Hennigh added.

As for the second new hole reported, TUDDH518, it returned 0.6m of 2.08 g/t gold between 163.6m and 164.2m downhole, including 0.25m of 255.5 g/t gold between 190.7m and 190.95m downhole, through what the company thinks is the UR2 lode. The hole was drilled to a depth of 197.8m.

"Soon, we will see arrival of our underground drill rigs, further allowing us to ramp up the pace of exploration. This is shaping up to be a very busy year at Tuvatu," Dr. Hennigh stated.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Lion One Metals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Lion One Metals, a company mentioned in this article.





Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe