Business
Lion One Feeder Drill Hole Encounters Significant Gold Mineralization in Diamond Drill Hole TUDDH500
North Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - Lion One Metals Limited...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Feeder Drill Hole Encounters Significant Gold Mineralization in Diamond Drill Hole TUDDH500North Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (\"Lion One\" or the \"Company\") is pleased to announce it has encountered visible gold in approximately 1 cm wide veins at a down hole depth of approximately 583 m in diamond drill hole TUDDH500 at its 100% controlled Tuvatu alkaline gold project, Fiji. Hole TUDDH500 is west oriented hole at an inclination of approximately 65 degrees and is designed to undercut the Tuvatu lode network in a position where these lodes are postulated to connect to form a possible feeder structure. A profound, deep-rooted, controlled source audio-magnetotelluric gradient is evident in this area providing technical support for this hypothesis.A network of veins, each measuring a few mm up to two cm wide, has been intercepted, some displaying coarse clots of visible gold particularly those at a depth of approximately 583 m (Figure 1). Drilling of this hole will continue to it is planned termination at 1,000 m once it has passed across the entire feeder target. Core drilled to date is currently being logged and will soon be sawed, sampled, and assayed. Lion One will release more information on this important hole as it becomes available.Qualified PersonThe scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Stephen Mann, P. Geo, Managing Director of Lion One, who is a qualified person pursuant to National Instrument 43-101 - Standards of disclosure for Mineral Projects (\"NI-43-101). About TuvatuThe Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report \"Tuvatu Gold Project PEA\", dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,120,000 tonnes indicated at 8.17 g/t Au (294,000 oz. Au) and 1,300,000 tonnes inferred at 10.60 g/t Au (445,000 oz. Au) at a cut-off grade of 3 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.About Lion One Metals LimitedLion One's flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold ...