- Lion One Metals (TSXV:LIO) has revealed it has begun mechanized production at its Tuvatu Alkaline Gold Project in Fiji
- Mechanized production represents the company’s transition from development mining to production mining
- The processing plant can also now process more than 400 tons per day, which is above the plant’s capacity of 300 tons per day
- Shares of Lion One Metals are up 6.25 per cent to C$0.51 as of 10:30 am ET
Lion One Metals (TSXV:LIO) has revealed it has begun mechanized production at its Tuvatu Alkaline Gold Project in Fiji.
The company stated in a news release that mechanized production represents the company’s transition from development mining to production mining.
Additionally, the processing plant can also now process more than 400 tons per day, which is above the plant’s capacity of 300 tons per day.
In tandem with this, Lion One Metals also revealed high-grade gold results from infill drilling, with notable assays up to 1568.55 grams per ton (/gt) gold, indicating robust mineralization.
Drilling primarily focused on two locations to the north and south of the Cabex fault, which were the downdip and southern extensions of the UR2 and URW3 lodes.
The first remote bogging activity also took place at Tuvatu in mid-May at the 1120 level south on the UR2 lode in Zone 5. According to Lion One, this step is necessary to extract material from open stopes after blasting.
Meanwhile, the first long hole production blast at Tuvatu occurred on May 18, blasting level to level via long holes from the 1120 level north to the 1130 level north, also on the UR2 lode in Zone.
With headquarters in North Vancouver, B.C., Lion One Metals is focused on its 100-per-cent-owned Tuvatu Alkaline Gold Project in Fiji, which includes the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab.
Shares of Lion One Metals Ltd. (TSXV:LIO) are up 6.25 per cent to C$0.51 as of 10:30 am ET.
Join the discussion: Find out what everybody’s saying about this stock on the Lion One Metals Ltd. Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.