LIO:CC - Shares of this Canadian Resource Company are up on Copper Porphyry Mineralization Discovery

2024-03-04 15:50:47 ET

Where there’s %Copper there’s sometime %Gold . On a mixed day for markets shares of the dual-listed company are on the uptick as it announced drilling intersects that discovered multiple zones of extensive copper mineralization, in an exciting development for this company. Copper mineralization is strongly correlated with anomalous gold mineralization downhole.

%LionOneMetals (TSXV: LIO) (OTCQX: LOMLF) announced in a press release today that it has discovered copper porphyry-style mineralization in a newly identified mineralized system 1 km northeast of the company's 100% owned Tuvatu Alkaline Gold Project in Fiji. Porphyry-style mineralization was discovered from surface drilling at the Wailoaloa prospect as part of the company's regional exploration program.

Bench sampling from the area revealed a wide stockwork area of anomalous copper, gold and %Tellurium mineralization at the surface, and an initial drillhole was designed to follow up the surface results. The Lion One geological team identified porphyry-style mineralization and alteration downhole and three subsequent drillholes were drilled to follow-up this discovery. The last of these drillholes intersected three separate zones of anomalous copper mineralization, ranging from over 120 m to over 200 m in downhole length.

Shares were trading up in early afternoon trade.