Results from Lion One Metals’ latest diamond drill program at Tuvatu Gold Project in Fiji have confirmed the grade, widths and continuity of mineralized extensions west of the resource area.
Best results include 1.56 metres @ 5.74 grams/tonne gold from 19 metres, 2.74 metres @ 6.99 grams/tonne from 85.56 metres, 1.3 metres @ 8.84 grams/tonne from 87.4 metres and 6.43 metres @ 12.74 grams/tonne from 202.93 metres including 4.39 metres @ 18.34 grams/tonne.
The company says the gold mineralization in this new zone (Tuvatu West) is hosted in east-west oriented vein structures that cross cut the main Tuvatu resource and extend along strike over 1km to the west. Mineralization in the 172,000 gold ounce Tuvatu Resource Area has been drill tested to depths of 300 metres, and remains open at depth and along strike.
Lion One chairman Walter Berukoff says, “The most recent drill hole-spacings were reduced from 80 metres to 40 metres to infill Tuvatu West with further drilling planned to extend the zone a further 250 metres west. These latest results confirm the grades, widths and continuity of the Tuvatu West mineralized zone, and provide further evidence of upside resource potential for Tuvatu.”
The company is continuing drilling in the area with the aim of undertaking a new resource estimation, and geological mapping and surface sampling is ongoing within the Tuvatu West area to give a clear understanding of the nature of mineralization throughout the target zone.
Lion One has also filed a surface lease application with the i-Taukei Land Trust Board and is preparing to file its Environmental Impact Assessment and related documentation that will accompany a mining lease application for Tuvatu with the Mineral Resources Department of Fiji.
The Tuvatu project is on the margins of Navilawa Caldera, along the Viti Levu mineral belt which hosts Fiji’s largest known gold deposits including the 4.2 million ounce Vatukoula project. The Fijian Islands themselves are along the Pacific Islands Arc which hosts a number of major deposits including the Lihir, Porgera, Ok Tedi, and Wafi-Golpu gold deposits in PNG.