Lion One Metals Limited (TSXV: LIO; OTCQX: LOMLF) reported high-grade gold assays from underground infill and grade-control drilling near active mine development at its Tuvatu gold mine in Fiji.
Hole TGC-0532 intersected 4.6 meters grading 82.28 grams per tonne gold from a downhole depth of 72.73 meters. The interval included 0.4 meters grading 302.15 g/t gold.
The same hole returned a separate one-meter interval grading 169.47 g/t gold, including 0.3 meters at 502.48 g/t.
Multiple Holes Return High Grades
Additional results included 1.1 meters grading 153.94 g/t gold, 1.7 meters at 93.94 g/t and 0.3 meters at 285.13 g/t.
Wider lower-grade intervals included 4.9 meters grading 10.64 g/t gold, three meters at 19.32 g/t and 3.3 meters at 14.15 g/t.
The results came from 4,370.2 meters of drilling focused on the up-dip and down-dip extensions of the UR1 and UR2 lodes in Zone 5. Lion One reported high-grade mineralization in 30 of 34 completed holes. Three additional holes were abandoned.
Drilling was conducted from two underground stations targeting the uppermost and lowermost areas of active mining in Zone 5.
Results Sit Near Underground Development
Lion One said most of the high-grade intersections are within 25 meters of existing underground development.
The company expects portions of the drilled area to be incorporated into its mine plan within six months. Some areas are already being accessed through underground drives in preparation for stoping.
However, the release did not provide an updated mine plan, reserve estimate or forecast showing how many additional ounces the new drilling could contribute. Incorporation into near-term production therefore remains a company projection.
True Widths Remain Unknown
All reported intersections are downhole lengths. True widths have not been determined because of local variations in the orientation of the mineralized structures.
Lion One calculated its reported composites using a 3.0 g/t gold cutoff with less than one meter of internal dilution below that grade. Several of the highest assays came from narrow sections measuring between 0.3 and 0.4 meters.
The company operates its own accredited assay laboratory at Tuvatu, where grade-control core is assayed whole. Samples grading above 10 g/t gold are reanalyzed using a gravimetric method.
Lion One sends duplicates of 5% of samples grading above 0.5 g/t gold to ALS Global Laboratories in Australia for independent check assays.
Tuvatu Production Increased in Q2
Tuvatu recovered 3,291 ounces of gold during the quarter ended June 30, up 21% from the previous quarter. The operation processed 27,985 tonnes at an average head grade of 4.3 g/t gold and reported average recovery of 84.9%.
Lion One is also completing the first phase of a proposed mill expansion. The company aims to increase nominal processing capacity from 300 to 400 tonnes per day by the end of the first quarter of 2027, with a longer-term target of 700 tonnes per day.
The latest drilling provides additional information for short-term mine planning, but high-grade assays do not automatically translate into higher production. Actual results will depend on true widths, geological continuity, dilution, mining recoveries and the successful development of the targeted areas.
Sources
- Lion One Reports 4.6 Meters at 82.28 g/t Gold Near Underground Development at Tuvatu
- Lion One Reports 3,291 Ounces in Quarterly Gold Recovery
- Lion One Starts First Phase of Tuvatu Plant Expansion
Editorial Disclosure
This article was prepared from publicly available company disclosures. Mining Markets Report received no compensation from Lion One Metals Limited for its preparation or publication and has no disclosed business relationship with the company.
The author and publisher do not hold securities in Lion One Metals Limited. The assay results, geological interpretations and operating information discussed in this article were supplied by the company and have not been independently verified by Mining Markets Report.
Reported drill intervals are downhole lengths, and true widths remain unknown. Several high-grade results include narrow intervals, and future inclusion in the Tuvatu mine plan remains subject to additional technical work and operating decisions.
Statements concerning mine planning, production, development, recoveries, processing capacity and expansion timing are forward-looking and subject to geological, technical, operational, financial and market risks.
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Mining investments can be speculative. Readers should conduct their own due diligence and consult a qualified financial professional. Read the full Mining Markets Report disclaimer.
