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Lion One Metals Ltd V.LIO

Alternate Symbol(s):  LOMLF | V.LIO.WT

Lion One Metals Limited is a Canadian gold producer. It is in the business of mineral exploration and evaluation and is focused on the development of mineral resources in Fiji. The Company is the owner and operator of the Tuvatu Gold Mine located on the island of Viti Levu in the Fiji Islands. The Tuvatu Gold Project has been fully permitted for development, construction, and mining by the Government of Fiji with the grant of a Special Mining Lease (SML 62). The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Property comprises four special prospecting licenses (SPL 62), with a total area of 20,170.5 hectares. It also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets. It holds four exploration licenses for the Tuvatu properties as granted by the mineral resources department.


TSXV:LIO - Post by User

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Post by ctoivoon Dec 16, 2017 1:01am
146 Views
Post# 27170205

Maps & Results

Maps & Results  Curious too, is that they have these valuable new sections on their website with a lot of important new information, that they insert into the website with no fanfare. Their statement that  they're focused on proving up a million ounce 10 year mine seems kind of hidden away too..,,, Hmm.

   This new one is under the new Tuvatu section the same as the one  which the Overview is in .
Here is the link to maps nd results[/url
     Much of it is a collection/summation of older news releases, valuable to read,. 

The new Banana Creek section is very interesting.


LION ONE COMPLETES DATA REVIEW OF BANANA CREEK TARGET IN THE NAVILAWA SPL ADJACENT TO THE TUVATU GOLD PROJECT

Up to 46.3 g/t gold in rock-chips and anomalism over 500 metres x 750 metres 

North Vancouver, B.C., November 30, 2017. Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) (the “Company”) is pleased to announce that following the recently announced award of the Navilawa Special Prospecting Licence (SPL 1412) it has completed a first-pass compilation of data over the Banana Creek Target adjoining the Company’s fully permitted high grade underground Tuvatu Gold Project located on the island of Viti Levu in the Republic of Fiji.

The Banana Creek Target

  • Located only 3 kilometres northeast of the Tuvatu Gold Project
  • Accessible by roads and tracks
  • 46.3 g/t gold peak value in rock sample results
  • >100 samples collected at surface >1g/t gold
  • 160 g/t silver, 2.1% lead, 0.33% zinc peak values in other rock sample results
  • 1.6 x 0.6 kilometre hydrothermal alteration system defined by radiometric data
  • 750 x 500 metre gold in soil anomaly
  • 6 individual mineralised lodes identified in previous surface work
  • 19.5 g/t gold peak value in previous reconnaissance drilling
  • Presents clear target for exploration work and to potentially enhance the Tuvatu Gold Project
  • One of eleven exploration targets in the recently acquired Navilawa License

Historic Results
The samples in this press-release are compiled from reports and data provided by the Fiji Government Mineral Resources Department and contain information reported by previous explorers in the area. Whilst every effort has been made to review historic reports and check the data, the samples were collected by previous explorers and cannot be fully verified. Company geologists have visited the project and reported lode style of mineralisation visually similar to Tuvatu, however, the original sample security, laboratory, and assay method cannot be fully verified by the Qualified Person / Competent Person other than disclosure taken from previous company reports. These results are hence considered ‘historic’ and are presented as a guideline only. As a result, the assays reported in this release are not to be considered necessarily representative of the overall system. The Company intends to collect new data in this area, and all historic results will not be used in mineral resource estimation or economic decisions other than to advance exploration. Refer to Appendix 1 for further details.

The Banana Creek Target and its relevance to enhancing Tuvatu
The Banana Creek Target is one of eleven exploration targets recently acquired by the Company in an award of tenure from the Mineral Resources Department, Ministry of Lands and Mineral Resources, Government of Fiji.  The Banana Creek Target has been subject to several generations of superficial surface exploration by previous explorers which has included geological mapping, soil sampling and rock-chip sampling. The Banana Creek Target is located 3 kilometres northeast of the Company’s fully permitted Tuvatu Gold Project, and hence presents an exploration target within a credible potential trucking distance to the milling operations to be constructed at Tuvatu. As a result, Lion One considers

Banana Creek as a clear focus with several mineralised structures potentially capable of complimenting and enhancing production scenarios at the Tuvatu Gold Project.

Previous sample collection
Data has been compiled from reports and databases from previous explorers lodged with the Mineral Resources Department of the Fiji Government. This data is historic, and in many cases the assay or sample method, laboratory or detection limits are not recorded. And as a result, the Company uses these data cautiously and as a guideline. All data is compiled on a best-efforts basis but certain errors may exist and therefore are to be considered as a guideline only.

More than 500 soil samples have been collected by previous explorers in the Banana Creek area.  This work is principally ridge and spur soil sampling. The soil sampling indicates a gold in soil anomaly of >100ppb gold (0.1ppm / 0.1g/t) over an area greater than 500 metres by 750 metres (Figure 1).


Figure 1: Gold in Soil sampling at the Banana Creek Target (background = shaded terrain model).

More than 800 rock samples have been collected in the Banana Creek area and are a combination of channel sampling, float (loose material at surface) and rock-chips. Of these 114 samples were greater than 1g/t gold with a peak value of 46.3g/t gold (Figure 2).

Figure 2: Banana Creek Rock Chip Samples with samples >5g/t labelled (background = shaded terrain model). (samples rounded to 1 decimal place)

Previous drilling at Banana Creek consists of 5 diamond core holes with a total of 531 metres drilling (average depth = 104 metres). Three of these holes (BCDH001, 002, 003) were drilled away from or parallel to the main structural trends and as a result did not intersect appreciable mineralisation. Holes BCDH004 and 005 respectively were drilled in the central portion of the Banana Creek Taregt and intersected peak values of 19.5g/t gold and 2.2g/t gold respectively (Figure 3).

Geology of Banana Creek
The Banana Creek Target consists of altered Navilawa monzonite intrusive flanked by Nadele volcanic breccia and intruded by micromonzonite dykes. The mineralisation has been mapped at surface on lodes that strike NNW-SSE and cross-structures NE-SW. Previous Fiji Government airborne surveys indicate that the Banana Creek Target has an elevated potassium signature in radiometrics indicating a zone of hydrothermal alteration approximately 1.6 kilometres by 600 metres and is comparable to the anomaly at the Tuvatu Gold Project (Figure 4). With both gold and base-metal anomalism, the mineralisation may be of a style comparable to the HT Corridor mineralisation at Tuvatu previously announced by the Company.

 

Figure 3: Banana Creek Drill Hole locations (on soil sampling, background = shaded terrain model)

Figure 4: Government airborne potassium radiometric image. Hot colours red->purple->white indicate increasing potassium and is an indication of increasing hydrothermal alteration.

 

Figure 5: The Tuvatu Project Area Schematic Project Map



LION ONE COMPLETES DATA REVIEW OF BANANA CREEK TARGET IN THE NAVILAWA SPL ADJACENT TO THE TUVATU GOLD PROJECT

Up to 46.3 g/t gold in rock-chips and anomalism over 500 metres x 750 metres 

North Vancouver, B.C., November 30, 2017. Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) (the “Company”) is pleased to announce that following the recently announced award of the Navilawa Special Prospecting Licence (SPL 1412) it has completed a first-pass compilation of data over the Banana Creek Target adjoining the Company’s fully permitted high grade underground Tuvatu Gold Project located on the island of Viti Levu in the Republic of Fiji.

The Banana Creek Target

  • Located only 3 kilometres northeast of the Tuvatu Gold Project
  • Accessible by roads and tracks
  • 46.3 g/t gold peak value in rock sample results
  • >100 samples collected at surface >1g/t gold
  • 160 g/t silver, 2.1% lead, 0.33% zinc peak values in other rock sample results
  • 1.6 x 0.6 kilometre hydrothermal alteration system defined by radiometric data
  • 750 x 500 metre gold in soil anomaly
  • 6 individual mineralised lodes identified in previous surface work
  • 19.5 g/t gold peak value in previous reconnaissance drilling
  • Presents clear target for exploration work and to potentially enhance the Tuvatu Gold Project
  • One of eleven exploration targets in the recently acquired Navilawa License

Historic Results
The samples in this press-release are compiled from reports and data provided by the Fiji Government Mineral Resources Department and contain information reported by previous explorers in the area. Whilst every effort has been made to review historic reports and check the data, the samples were collected by previous explorers and cannot be fully verified. Company geologists have visited the project and reported lode style of mineralisation visually similar to Tuvatu, however, the original sample security, laboratory, and assay method cannot be fully verified by the Qualified Person / Competent Person other than disclosure taken from previous company reports. These results are hence considered ‘historic’ and are presented as a guideline only. As a result, the assays reported in this release are not to be considered necessarily representative of the overall system. The Company intends to collect new data in this area, and all historic results will not be used in mineral resource estimation or economic decisions other than to advance exploration. Refer to Appendix 1 for further details.

The Banana Creek Target and its relevance to enhancing Tuvatu
The Banana Creek Target is one of eleven exploration targets recently acquired by the Company in an award of tenure from the Mineral Resources Department, Ministry of Lands and Mineral Resources, Government of Fiji.  The Banana Creek Target has been subject to several generations of superficial surface exploration by previous explorers which has included geological mapping, soil sampling and rock-chip sampling. The Banana Creek Target is located 3 kilometres northeast of the Company’s fully permitted Tuvatu Gold Project, and hence presents an exploration target within a credible potential trucking distance to the milling operations to be constructed at Tuvatu. As a result, Lion One considers

Banana Creek as a clear focus with several mineralised structures potentially capable of complimenting and enhancing production scenarios at the Tuvatu Gold Project.

Previous sample collection
Data has been compiled from reports and databases from previous explorers lodged with the Mineral Resources Department of the Fiji Government. This data is historic, and in many cases the assay or sample method, laboratory or detection limits are not recorded. And as a result, the Company uses these data cautiously and as a guideline. All data is compiled on a best-efforts basis but certain errors may exist and therefore are to be considered as a guideline only.

More than 500 soil samples have been collected by previous explorers in the Banana Creek area.  This work is principally ridge and spur soil sampling. The soil sampling indicates a gold in soil anomaly of >100ppb gold (0.1ppm / 0.1g/t) over an area greater than 500 metres by 750 metres (Figure 1).


Figure 1: Gold in Soil sampling at the Banana Creek Target (background = shaded terrain model).

More than 800 rock samples have been collected in the Banana Creek area and are a combination of channel sampling, float (loose material at surface) and rock-chips. Of these 114 samples were greater than 1g/t gold with a peak value of 46.3g/t gold (Figure 2).

Figure 2: Banana Creek Rock Chip Samples with samples >5g/t labelled (background = shaded terrain model). (samples rounded to 1 decimal place)

Previous drilling at Banana Creek consists of 5 diamond core holes with a total of 531 metres drilling (average depth = 104 metres). Three of these holes (BCDH001, 002, 003) were drilled away from or parallel to the main structural trends and as a result did not intersect appreciable mineralisation. Holes BCDH004 and 005 respectively were drilled in the central portion of the Banana Creek Taregt and intersected peak values of 19.5g/t gold and 2.2g/t gold respectively (Figure 3).

Geology of Banana Creek
The Banana Creek Target consists of altered Navilawa monzonite intrusive flanked by Nadele volcanic breccia and intruded by micromonzonite dykes. The mineralisation has been mapped at surface on lodes that strike NNW-SSE and cross-structures NE-SW. Previous Fiji Government airborne surveys indicate that the Banana Creek Target has an elevated potassium signature in radiometrics indicating a zone of hydrothermal alteration approximately 1.6 kilometres by 600 metres and is comparable to the anomaly at the Tuvatu Gold Project (Figure 4). With both gold and base-metal anomalism, the mineralisation may be of a style comparable to the HT Corridor mineralisation at Tuvatu previously announced by the Company.

 

Figure 3: Banana Creek Drill Hole locations (on soil sampling, background = shaded terrain model)

Figure 4: Government airborne potassium radiometric image. Hot colours red->purple->white indicate increasing potassium and is an indication of increasing hydrothermal alteration.

 

Figure 5: The Tuvatu Project Area Schematic Project Map

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