News September 7, 2021 - Lion One Metals Limited North Vancouver, British Columbia--(Newsfile Corp. - September 7, 2021) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to announce further high grade intercepts from ongoing deep extensional step-out drilling and near-surface infill drilling from the Company's 100% owned Tuvatu gold project in Fiji.
Highlights include:
10.24 g/t Au over 8.48m from downhole depth of 111.20m from TUDDH539 (near surface infill)
-incl. 33.26 g/t Au over 2.44m from 111.20m, and 13.49 g/t Au over 3.30m from 115.40m
24.92 g/t Au over 3.70m from downhole depth of 415.70m from TUG135 (Deep Feeder Zone 500)
-incl. 83.63 g/t Au over 0.30m from 415.70m, and 159.30 g/t Au over 0.30m from 417.20m
Sergio Cattalani, Lion One's Senior Vice President Exploration, commented, "High grade mineralization in Deep Feeder Zone 500 has now been demonstrated to extend over an area approximately 150m along strike and 250m vertically, completely outside the existing resource model. We have planned additional drilling to test the lateral extent of this zone and infill the shallowest part of this zone with the base of the existing resource."
Deep Feeder Zone 500
These most recent intercepts are believed to be the continuation of the interpreted deep feeder structure that encountered 55.43 g/t Au over 12.70m in TUDDH500 (see July 24, 2020 News Release) and 55.44 g/t Au over 2.30m in TUDDH533. Multiple new high-grade gold intercepts have been encountered in underground hole TUG135 drilled from the Tuvatu decline, as well as in hole TUDDH533W1, a wedge hole to TUDDH533 reported previously (see July 26, 2021 News Release). These include 24.92 g/t Au over 3.70m (including 159.30 g/t over 0.30m) from a downhole depth of 415.70m, 2.89 g/t Au over 2.50m from a downhole depth of 508.10m in hole TUG135, and 3.34 g/t Au over 1.80m from a downhole depth of 613.90m in hole TUDDH533W1. This same gold-bearing structure has now been intersected by multiple holes, including TUDDH500, 500W1, 500W2, TUDDH533, 533W1, TUDDH528, TUDDH517, 517W1, TUDDH514, 514W1, and TUG135 (see Figure 1). These additional deep intercepts significantly increase our degree of confidence that the Tuvatu orebody extends to considerable depth, and that it remains fully open, laterally and at depth. It is clear that the current Tuvatu resource represents but a fraction of a much larger and considerably more extensive, high-grade Au deposit for which additional drilling is warranted to further define its true extent.
Figure 1: Longitudinal Section of the UR4 Lode Showing Block Model and 2020 and selected 2021 Drill Intercepts. The grid is 100m, the bright yellow is indicated and the darker yellow is inferred. Intercepts are expressed as g/t Au over downhole width in meters.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/95575_801e4781548369e8_001full.jpg
Resource Infill/Definition Drilling
In addition to expanding the high-grade feeder zone underlying the UR4 lode, several bonanza-grade intercepts have also been returned from the ongoing near-surface infill/definition drill program which will add significantly to the resource earmarked for early production. The aim of this drill program was to infill areas of low data density within parts of the resource currently categorized as Inferred. A complete set of results for all previously unreported drill holes is included as Appendix 1.
The Company is currently undertaking three tiers of drilling: 1) shallow resource infill drilling from surface and underground, 2) deep exploration drilling looking for lode extensions under the Tuvatu resource and 3) other target areas within the Navilawa caldera such as Banana Creek, 3.5 km NE of Tuvatu where drilling is underway.
Highlights from shallow infill/definition drilling include:
TUG 135: 7.53 g/t Au over 5.80m from 28.60m, incl. 13.64 g/t Au over 2.60m
TUDDH 540: 97.40 g/t Au over 1.30m from 103.90m, incl. 210.29 g/t Au over 0.60m
TUDDH 539: 10.24 g/t Au over 8.48m from 111.20m,
incl. 33.26 g/t Au over 2.44m, and 13.49 g/t Au over 3.30m
TUDDH 534: 5.52 g/t Au over 3.71m from 123.23m,
incl. 15.59g/t Au over 0.34m and 18.4 g/t Au over 0.47m
TUDDH 537: 12.23 g/t Au over 1.33m from 134.15m,
incl. 30.50 g/t Au over 0.35m, and 16.07 g/t Au over 0.35m
TUDDH 537: 6.52 g/t Au over 3.51m from 138.93m, incl. 19.46 g/t Au over 0.38m
TUDDH 538: 103.5g/t Au over 0.28m from 177.78m in TUDDH538
Note: true width of intersections have yet to be accurately determined for these numerous lodes reported in this release.