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Lion One Discovers Tuvatu Style Lodes at Banana Creek; Accelerates Drilling
North Vancouver, British Columbia--(Newsfile Corp. - July 20, 2020) - Lion One Metals Limite...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Discovers Tuvatu Style Lodes at Banana Creek; Accelerates DrillingNorth Vancouver, British Columbia--(Newsfile Corp. - July 20, 2020) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (\"Lion One\" or the \"Company\") is pleased to announce discovery of Tuvatu style lodes at Banana Creek, approximately 3 km northeast of the Tuvatu resource. Banana Creek is a new, high-priority greenfields target situated within Lion One's recently granted Navilawa tenement, part of its 100% controlled Tuvatu alkaline gold project, Fiji. Drill rig #1 recently completed two diamond drill holes at Tuvatu West and has now resumed deep drilling under the main Tuvatu lode system. Rig #2 has initiated drilling new targets within the Navilawa license area.Highlights:Since commencement of the dry season, approximately one and a half months ago, Lion One has been aggressively opening roads and trench cuts within the new, large Navilawa tenement situated north of the Tuvatu mining license. At present, efforts are focused at Banana Creek located approximately 3 km northeast of the Tuvatu resource, where the Company's team has discovered multiple outcropping lodes of similar nature to those seen at Tuvatu (Figures 1, 2,and 3). Recent assay results including multiple high grade results from the current benching and mapping program are presented in the first table below. Results from outcropping lodes include 39.74 g/t Au over 0.60 m, 17.37 g/t Au over 0.45 m, 10.82 g/t Au over 0.70 m and 12.71 g/t Au over 0.40 m at Banana Creek and its access and 31.22 g/t Au over 0.80 m at the nearby Vunilolo prospect. Systematic sampling of newly discovered structures continues, and more discoveries are being made daily. Lion One will update the market as more assays return. Diamond drill rig #1 recently completed two holes, TUDDH496 and TUDDH497, both north-oriented, at the western extremity of the Tuvatu West lode network in an area underlain by a profound controlled source audio-magnetotelluric (\"CSAMT\") resistivity gradient thought to be a major, deep-rooted structural zone that may have allowed mineralizing fluids to ascend near surface. Hole TUDDH496, inclined at -55 degrees, encountered numerous mineralized intervals between 72.10 and 312.66 m (see Table 2), the most significant of which include 0.73 m grading 6.86 g/t Au beginning at 267.20 ...