LIO:CC - Lion One Metals: 100% Owned & Fully Permitted Gold Project
2024-03-27 17:08:02 ET
High-grade gold project in the South Pacific
Lion One Metals is set to become the premier high-grade gold producer in the South Pacific Island nation of Fiji at its 100% owned and fully permitted Tuvatu Alkaline Gold Project. Further, the company is focused on cost effective and environmentally responsible construction, development, and advancement of Tuvatu towards production, and exploration of its license areas covering the highly prospective and underexplored Navilawa mineralized volcanic complex.
Tuvatu Alkaline Gold Project
"This is one of nine alkaline deposits in the world of this size. But this is the only one that's not owned by a major, " says CEO & Chairman, Walter Berukoff.
The Tuvatu Alkaline Gold Project sits on the island of Viti Levu in the Republic of Fiji. The project lies between elevations of 100 and 600 m in the eroded crater of the Navilawa caldera. It also overlooks the Sabeto River valley and town of Nadi on the western coast of Viti Levu.
"The finding that this is indeed an alkaline system, gave everyone comfort that there should be a feeder zone down deeper. And that's what we started to look for," says Technical Advisor, Dr. Quinton Hennigh.
Late last year, analysis of core samples from deep within hole 493 revealed very high-grade material. It was around 40 grams per tonne, over four or five metres. But then hole 500 revealed 53 grams, 55.43 grams over twelve point seven metres.
The plan is to continue adding ounces by drilling 20,000 to 25,000 meters a year for the next three to four years, financed by the 60 million dollars the company has recently raised.
For more information on Lion One Metals Ltd. (TSX.V: LIO, OTCQX: LOMLF, ASX: LLO) please fill out the form below.