Drilling by Lion One Metals at the Tuvatu Gold Project in Fiji has identified a new zone of high-grade mineralisation. Grades intersected in this zone are significantly higher that other drill results in the immediate area and are located near-surface, providing the opportunity for early development.
The new zone is adjacent but separate to mineralisation previously outlined in the resource at Tuvatu, which is fully permitted and located near Nadi on the west coast of the island of Viti Levu.
Best results from the drilling are 2.77 metres from 49.2 metres @ 85.42 g/t gold, 3.22 metres from 62.55 metres @ 6.83 g/t, 3.5 metres from 15.1 metres @ 6.00 g/t, 1.2 metres from 89.7 metres @ 10.17 g/t and 3.4 metres from 58.9 metres @ 23.24 g/t.
Lion One’s ongoing drilling program is focused to the north of the east-west striking Core Shed Fault, a structure which bisects the northern end of the Tuvatu resource. Previous drilling in the area identified limited and generally lower grade mineralisation.
The recent drilling has tied together these previous results and extended the known mineralisation further north. The zone is open to the northwest, southeast and at depth.
Lion One says drilling will continue in an effort to determine the extent of mineralisation in both directions along strike and down-dip. As all intersections are shallow, depth extensions will be targeted as the program continues.
The new zone demonstrates the potential to extend much further north of the area previously drilled.
Tuvatu consists of multiple high-grade structures drilled over a strike-length of approximately 900 metres. Several mineralised zones are open along-strike and down-dip. It sits within an extensive mineralised district with gold occurrences and geochemistry anomalies extending over an area 6km by 3km with several district prospects yet to be adequately tested.
The company is developing an exploration strategy that focuses on new mineralisation within the current mineralised envelope, immediate extensional targets and other targets in the district. The aim is to expand the resource base to continue to support long-term sustainable mining operations.
Lion One envisages a low-cost underground gold mining operation producing 352,931 ounces of gold at head grades of 11.30 g/t over an initial seven year mine life. This includes production of 262,000 ounces at 15.30 g/t through to the end of year three.
Mine engineering and underground development is progressing alongside final detailed engineering for the processing plant and site infrastructure.
Lion One Metals