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Lion One Commences Development of High-Grade Roscoelite Zone at Tuvatu Gold Mine in Fiji
Initial Bulk Sample Returns 11.6 g/t Gold from 861 Tonnes North Vancouver, British Columbia--(Ne...
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[{"type":"text","content":"Lion One Commences Development of High-Grade Roscoelite Zone at Tuvatu Gold Mine in FijiInitial Bulk Sample Returns 11.6 g/t Gold from 861 TonnesNorth Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (\"Lion One\" or the \"Company\") is pleased to report that the development of a new high-grade near-surface roscoelite zone has commenced at the company's 100% owned Tuvatu high-grade alkaline gold mine on the island of Viti Levu in Fiji.Lion One CEO Walter Berukoff stated, \"Quartz-roscoelite veining is the most economically significant mineral assemblage at several world class alkaline gold deposits that are similar to Tuvatu. Roscoelite is a defining characteristic of these alkaline systems and it is directly associated with high-grade gold. An initial bulk sample of the near-surface roscoelite zone at Tuvatu has returned 11.6 g/t gold from 861 tonnes of material mined at full mining widths. We are now enhancing our mine plan with this gold-rich roscoelite material, which is already being processed through the pilot plant\". Roscoelite veining is directly related to high-grade mineralization at the nearby Vatukoula gold mine in Fiji where over 7 million ounces of gold have been produced over the last 85 years. Roscoelite is also observed in association with gold mineralization at the Porgera gold mine in PNG, which has been a top ten ranked gold mine globally and which has produced over 25 million ounces of gold. At Porgera, the most economically significant veins are the Stage II quartz-roscoelite-pyrite veins with native gold, found in the Roamane fault zone.1 At Tuvatu the high-grade Stage II veins also ubiquitously occur with roscoelite - a rare dark green to black vanadium rich mica mineral.2 This same mineral assemblage is observed in the near-surface roscoelite zone at Tuvatu, which consists of a series of intersecting flat and sub-vertical banded veins composed primarily of low-temperature chalcedonic quartz intergrown with roscoelite, pyrite, lesser sphalerite and galena, and native gold. This same mineral assemblage is also observed at the high-grade Zone 500 at 500m depth in Tuvatu, at the West Zone near-mine expansion target 300 m to the West of Tuvatu, as well as in drill core throughout the Tuvatu deposit (Figure 1). See news releases: Lion One d...