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Lion Copper and Gold Corp. Announces Further Expansion of Bear Mineralization
Vancouver, British Columbia--(Newsfile Corp. - October 27, 2023) - Lion Copper and Gold Corp. (...
About this update from Lion Copper And Gold Corp
[{"type":"text","content":"Lion Copper and Gold Corp. Announces Further Expansion of Bear MineralizationVancouver, British Columbia--(Newsfile Corp. - October 27, 2023) - Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) (\"Lion CG\" or the \"Company\") today released assay results from its 2023 exploration program in the Yerington District of Nevada. This exploration program was funded by a US$2,500,000 early advance of Stage 3 funding under the Company's agreement with Nuton LLC, a Rio Tinto venture (see February 10, 2023 news release). Five targets were drilled (Figure 1) with the most compelling results produced at the Bear deposit, a large and partially-defined zone of porphyry copper mineralization, located almost entirely on private lands and concealed beneath a thick fault slice of younger Tertiary ignimbrites and alluvial cover. The Bear deposit was previously jointly held by Anaconda Copper Mining Company (\"Anaconda\"), one of the largest copper mining companies of the 20th century, and Phelps Dodge Corporation (\"Phelps Dodge\", now Freeport-McMoRan), with Lion CG having subsequently consolidated the Bear deposit by way of multiple private landowner lease and purchase option agreements.Bear Deposit 2023 Drilling Highlights (Figure 2, Table 1):Diamond core drill hole B-053A encountered 926 ft of 0.31% TCu, including 233 ft of 0.47% TCu, collared 925 ft northwest of legacy Anaconda drill hole B-014Diamond core drill hole B-054 encountered 1,048 ft of 0.26% TCu, including 131 ft of 0.50% TCu, collared 925 ft northwest from B-053AThese deep angle drill holes were located along a northwest projection of elevated copper grades defined by legacy Anaconda drilling and a coincident magnetic low and strong Induced Polarization (IP) anomaly, both of which are recognized trends in the Yerington District. Information gained from this recent drilling not only expands the size of the Bear deposit but also highlights additional targets which remain untested.Travis Naugle, Lion CG's CEO, states, \"The thick intervals of copper mineralization encountered in our latest drilling continue to showcase the immense size and potential of the Bear deposit. With mineralized intercepts expanding over 1,800 feet from previously known mineralization, we have only begun to touch on the boundaries of this expansive porphyry system that covers more than three square miles...