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Lion One Discovers New Bonanza Grade Gold Lode 1 KM North of Tuvatu
Surface sampling returns multiple high-grade results up to 92.55 g/t gold North Vancouver, Briti...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Discovers New Bonanza Grade Gold Lode 1 KM North of TuvatuSurface sampling returns multiple high-grade results up to 92.55 g/t goldNorth Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (\"Lion One\" or the \"Company\") is pleased to announce the discovery of a new mineralized structure carrying bonanza grade gold 1 km to the north of the company's 100% owned Tuvatu Alkaline Gold Project in Fiji.The new mineralized structure was discovered on surface by Lion One's regional exploration team and has been named the Lumuni occurrence. The structure is located 1 km north of Tuvatu, approximately along strike from lodes UR1, UR2, and UR3. The Lumuni structure exhibits a width at surface of approximately 0.5 m to over 1 m and is manifested as two mapped zones of what may be a single continuous feature. This includes a north-south striking zone that dips steeply to the west, and a northwest-southeast striking interval that dips steeply to the southwest. High-grade gold results were returned from close-spaced channels and outcropping zones separated by up to 30 m strike length. The overall feature was traced on surface for a length of over 150 m and remains open to the south-east where it is obscured under vegetation. The high-grade mineralized structure also appears to be coincident with a large steeply-dipping CSAMT resistivity low, which may be indicative of a deeply-rooted structure.Highlights of Lumuni channel sampling:66.83 g/t Au over 0.7 m (CH3850)48.45 g/t Au over 0.7 m (including 92.55 g/t Au over 0.3 m) (CH3851)15.18 g/t Au over 1.1 m (including 31.25 g/t Au over 0.3 m) (CH3849)14.66 g/t Au over 1.1 m (including 16.78 g/t Au over 0.7 m) (CH3855)17.04 g/t Au over 0.6 m (including 30.59 g/t Au over 0.3 m) (CH3853)10.30 g/t Au over 0.9 m (including 13.89 g/t Au over 0.6 m) (CH3852)Strike length of over 150 m observed on surfaceLion One Chairman and CEO Walter Berukoff commented: \"We're very pleased with the discovery of the Lumuni occurrence. This discovery was made as part of our ongoing regional mapping and sampling program throughout the Navilawa Caldera. What makes this discovery so outstanding is the continuity of the high-grade material. It is not a single bonanza-grade sample, but rather a traceable lode of high to very-high grade mate...