Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) provided in a news release an update on its exploration efforts at its Tuvatu gold project in Fiji, which include drilling, sediment sampling and geophysical surveying.
"We are already seeing huge returns from this work. BLEG [bulk leach extractable gold] samples clearly show the alkaline gold system is much larger than previously thought and that we have a vast new area in which to develop drill targets. Our first deep diamond drill hole has encountered multiple lodes including a new style of potentially important high-grade mineralization at Tuvatu," Dr. Quinton Hennigh, technical advisor to Lion One, said in the release. "We are off to a very good start, but we have lots more work to do to unlock the considerable potential evident at Navilawa."
As for drilling, Lion One commenced the first of four deep diamond drill holes, TUDDH493. Core from the hole shows numerous mineralized intercepts, including an 11.3 meter (11.3m) interval of quartz veinlets in altered monzonite beginning at 318.6m and a 4m interval of hydrothermal breccia starting at 422.5m. Significantly, the latter intercept suggests the mineralized system at Tuvatu evolves with depth and further high-grade mineralization could exist below.
The possible grade of the identified mineralization will not be known until the assays return.
In terms of BLEG stream sampling, it was done across most of the Navilawa caldera. Results showed the gold mineralization there is several times larger than expected. As a result, Lion One will be able to delineate a large number of prospective drill targets in the caldera.
Regarding geophysical surveying, controlled source audio-frequency magnetotellurics, or CSAMT, is in progress to map the deep structural framework in the caldera. This survey is expected to reveal additional drill targets when completed in about six weeks.
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