- Lion One Metals (LLO) gets high-grade gold results from drilling at its Tuvatu Project in Fiji
- The company is undertaking three different types of drilling to infill the resource area and target lode extensions
- Grades have peaked at 17.7g/t gold over a 2.15-metre interval from deep drilling and 138.5g/t gold over a 0.35-metre interval
- Next up, drilling will focus on the Banana Creek target area which is located 3.5 kilometres northeast of Tuvatu
- Company shares are up 1.61 per cent and trading at $1.26 at 1:07 pm AEST
Lion One Metals (LLO) has received gold results from drilling at its Tuvatu Project in Fiji.
The company is undertaking three types of drilling including shallow resource infill drilling from surface, resource infill drilling from underground and deep exploration drilling to target lode extensions beneath the resource.
Two deep intercepts include six metres at 9.11 grams of gold per tonne (g/t) from 444 metres and 2.15 metres at 17.7g/t gold from 505.65 metres.
Additional results from the shallower parts of the gold system include 6.47 metres at 17.9g/t gold including 0.35 metres at 138.5g/t gold; 1.27 metres at 11.58g/t gold including 0.32 metres at 40.94g/t gold; and 1.2 metres at 10.45g/t gold including 0.3 metres at 36.69g/t gold.
Technical Advisor Dr Quinton Hennigh said he was pleased with the shallow and deep results.
“With the 2021 drill campaign fully underway, Lion One continues to see a steady stream of high-grade drill intercepts return from Tuvatu,” Dr Hennigh said.
“While shallow intercepts help us build confidence with the resource area, our deeper drill holes continue to demonstrate excellent opportunity for expansion of some of the principal Tuvatu lodes at depth.”
Deep drilling will soon begin at the Banana Creek target area which is located 3.5 kilometres northeast of Tuvatu. Drilling will target the large anomalous gold system to find Tuvatu-style lodes.
Company shares were up 1.61 per cent and were trading at $1.26 at 1:07 pm AEST.