LION ONE EXTENDS ORE ZONE !!!!!
Lion One Metals Ltd
Symbol C : LIO
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Close 2013-02-12 C$ 0.74
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Lion One drills 2.3 m of 62.81 g/t Au at Tuvatu
2013-02-13 09:37 ET - News Release
Mr. Hamish Greig reports
LION ONE METALS LIMITED: FURTHER DRILL ASSAYS SIGNIFICANTLY EXTEND THE ZONE OF MINERALIZATION AT TUVATU GOLD PROJECT, FIJI
Lion One Metals Ltd. is releasing further high-grade results from its diamond drilling program at the Tuvatu gold project in Fiji. Most significant results include 2.35 meters at 62.81 grams per tonne ("g/t") gold ("Au") and 31.6 g/t Ag (silver) from diamond drill hole number TUDDH 341; 2.55 meters at 22.56 g/t Au and 3.66 meters at 15.68 g/t Au, both from TUDDH 350; and 3.59 meters at 15.43 g/t Au from TUDDH 356.
Highlights:
Further results from diamond drill holes on the Tuvatu Gold Project in Fiji have significantly extended the zone of known mineralization.
These additional results confirm thicknesses and grade of lodes mapped on surface.
The drilling program targeted the western extension of known surface mineralization previously drilled.
Further work in the area to focus on closer spaced resource definition drilling.
Drilling and surface mapping is ongoing. Significant results include:
Hole ID Interval From Lode
TUDDH 341 2.32 m @ 62.81 g/t Au 148.54 m Snake
TUDDH 350 2.55 m @ 22.56 g/t Au 78.99 m Murau 2
and 1.39 m @ 10.56 g/t Au 89.43 m Murau 2
and 3.66 m @ 15.68 g/t Au 142 m Murau 1
TUDDH 356 3.59 m @ 15.43 g/t Au 89.70 m Snake
Tuvatu Drilling Update
The current drill program continues to test and confirm the grade, thickness, and continuity of mineralized lodes that cross-cut the main Tuvatu Resource Area. These lodes have been mapped at surface up to 1,330 meters along strike to the west. The latest drill holes were spaced on 80 meter centers in a zone extending up to 250 meters west of the existing Tuvatu Resource Area, with further additional resource definition drill holes planned. The Company believes that further drilling on these extensions has the potential to significantly increase both the tonnage and resources of the Tuvatu gold project. To view a version of the news release with maps please visit the Company website at https://www.liononemetals.com/i/pdf/news/2013-02-13_NR.pdf.
In 2012 the Company reported three other significant high grade holes within the same area. These recent results complement the previous drilling by extending the mineralization identified in those holes and in particular, highlight the thickness and grade continuity.
Previously drill results reported by Lion One in 2012 included:
Hole ID Interval From
TUDDH 347 3.78 m @ 16.15 g/t Au 121.99 m
TUDDH 348 7.49 m @ 23.03 g/t Au 155.05 m
TUDDH 349 11.90 m @ 11.77 g/t Au 128.55 m
A summary of the Tuvatu drilling results included in this report are:
True
From To Interval Width Gold
Hole ID (meters) (meters) (meters) (meters) Lode (g/t)(i)
TUDDH 341 148.54 150.86 2.32 1.49 Snake 62.81(ii)
TUDDH 341 incl 149.50 149.85 0.35 420.00
TUDDH 350 12.20 13.65 1.45 1.03 Murau 2 1.24
TUDDH 350 78.99 81.51 2.55 1.80 Murau 2 22.56
incl 79.96 80.43 0.47 20.00
incl 80.43 80.68 0.25 21.10
incl 80.68 81.24 0.56 72.20
TUDDH 350 89.43 90.82 1.39 1.00 Murau 2 10.56
TUDDH 350 121.15 125.04 3.89 2.76 Murau 1 2.70
TUDDH 350 142.00 145.66 3.66 2.76 Murau 1 15.68
incl 142.00 142.44
incl 143.84 144.55 0.61 49.70
TUDDH 350 182.00 184.00 2.00 1.42 1.23
TUDDH 350 248.60 250.60 2.00 1.42 2.58
TUDDH 352 33.47 35.04 1.57 1.11 3.83
TUDDH 352 53.36 54.30 0.94 0.67 1.56
TUDDH 352 295.05 296.16 1.11 0.79 1.05
TUDDH 352 306.70 307.97 1.27 0.83 1.00
TUDDH 353 308.48 311.89 3.41 2.18 3.13
TUDDH 353 incl 309.70 310.35 0.65 10.35
TUDDH 356 30.78 32.15 1.37 0.93 1.31
TUDDH 356 74.05 77.60 3.55 2.41 6.03
TUDDH 356 89.70 93.29 3.59 2.44 15.43
(i) All results are uncut grades.
(ii) Includes 209 g/t Ag.
Figure 1 identifies the drill holes reported in this release, the location of the cross section in Figure 2, and includes those holes reported previously in 2012. The existing exploration decline is located in the center of the previously outlined resource to the east of the current drilling. Drilling is ongoing with planned 40 meter spaced holes allowing for the eventual resource calculation of this new zone. Figure 2, below, highlights a typical cross section and demonstrates the grade and thickness continuity of many of the main lodes in the Tuvatu project area.
Technical Information and Qualified Persons
The assay analyses performed during Lion One's drilling programs are subject to a formal quality assurance and quality control (QA/QC) program. Diamond drill core was logged and sampled on site at Tuvatu by Company staff with samples delivered by the Company to the facilities of Australian Laboratory Services (ALS) Pty. Ltd., an independent accredited analytical laboratory. Samples are first prepared and crushed at the ALS facility in Suva, Fiji, before being shipped to Brisbane, Australia for assay analysis. Samples are subjected to fire assay with atomic absorption finish for gold and 33 elements, four acids, and Inductively Coupled Plasma Spectrometry (ICP-AES).
Standard reference materials, blanks, and field duplicates samples are inserted prior to shipment from site to monitor the quality control of the data. Samples with higher grade gold (greater than 3 grams per tonne) are reassayed using a gravimetric and/or pulps and metallic procedure. The Company's exploration team planned and executed the 2012 drilling program under the supervision of Lion One's Tuvatu Project Manager, Mr. David Pals. The content of this news release has been reviewed by Mr. Darcy Krohman, P.Geo., a Qualified Person for the purposes of National Instrument 43-101.
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