Results from four diamond drill holes at Lion One Metals’ Tuvatu Gold Project in Fiji have confirmed high grades, widths and continuity of mineralization west of the main Tuvatu resource zone. The latest holes are the western-most exploratory holes drilled at Tuvatu, where mineralization remains open along strike and down dip.
Highlights from the program are 9.95 metres from 185.69 metres @ 14.28 grams/tonne gold, 1.09 metres from 203.68 metres @ 38.38 grams/tonne, 4.39 metres from 99.55 metres @ 8.46 grams/tonne and 0.75 metres from 105.46 metres @ 28.27 grams/tonne. Lion One officials say that assays are pending for four more holes being drilled.
Current drilling at Tuvatu West is focused on east-west trending structures cross-cutting the main Tuvatu mineralized zone. It has extended the zone for a further 500 metres along strike. The company plans continuing area evaluation, and will undertake a new resource estimate following the current program. Current results are consistent with historic results reported by Emperor Gold Mines on the same area in the late 1990s.
The company has also filed its environmental impact assessment and mining lease for Tuvatu with Fiji’s Mineral Resources Department; the process continues with ongoing community consultations.
The Tuvatu Gold Project is on the margins of the Navilawa Caldera, along the Viti Levu Lineament; a mineral belt hosting Fiji’s known gold deposits. The Navilawa Caldera is a volcanic intrusive complex with a geological setting bearing similarities with the adjacent Tavua Caldera, hosting Fiji’s largest gold deposit and oldest operating gold mine at Vatukoula.
The Tuvatu project contains an indicated mineral resource of 760,000 tonnes @ 7.05 grams/tonne gold for 172,000 ounces and an inferred mineral resource of 2,618,000 tonnes @ 5.71 grams/tonne for 480,000 ounces.
The Fijian Islands are situated along the Pacific Islands Arc, hosting major deposits including the Lihir, Porgera, Ok Tedi and Wafi-Golpu gold deposits in Papua New Guinea.