LIO:CC - Lion One Metals: Mother Nature's Jewel Box
2024-03-27 17:08:02 ET
Update on Fiji’s Next High-Grade Gold Mine
"What I found is mother nature's jewel box," says CEO & Chairman, Walter Berukoff.
Lion One’s flagship asset is 100% owned, fully permitted high-grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system.
"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.
"We have our own world class assay lab. We get our assay's in less than a week," says Berukoff. The company also has its own drills. "We are self-contained and are pushing it hard," he continues. Since last year, Lion One has accumulated four drill rigs. In fact, they have two deep ones, two shallower ones and they've been put to work 24hrs a day.
Further, drilling at TUDDH 500 returned 55.43 g/t gold over 12.7m. The company's next step is to continue to drill aggressively. They have recently raised over 60 million dollars. With that, they expect to drill 20-25 thousand meters a year.
"There's no downside. We've got a mining license and we've got a huge discovery. It's a safe place to be in gold," says Berukoff.
For more information on Lion One Metals Ltd. (TSX.V: LIO, OTCQX: LOMLF, ASX: LLO) please fill out the form below.