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News Update


Deep Drill Hole at Fiji Gold Project Returns Significant Intersection
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Also, the exploration company is working to accelerate drilling at the property.

Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release recent results from the second deep diamond drill hole at its Tuvatu gold project in Fiji.

Drilling of that hole, TUDDH494, remains in progress. It now is at a 700 meter (700m) depth of the planned roughly 1,000m target.

Results for the first 400m depth of the hole include a "significant" intercept, 3.6m of 13.12 grams per ton (13.12 g/t) gold, from 188.8m from the Murau 2 lode, including 0.61m of 64.24 g/t gold, from 189.9–190.5m. This "is interpreted to be part of the east-west striking Murau 2 lode and clearly demonstrates that hydrothermal fluids capable of depositing high-grade mineralization were active in this part of the Tuvatu system," the release noted. "This intercept shows this lode is open at depth where it might link up with a feeder structure."

The other reported assay for the second hole was 1.47m of 1.45 g/t gold, from 157.15m from the Murau 1 lode.

Lion One intends to fast-track drilling by adding a second shift for the drill rig in operation there and getting one or more rigs mobilized to the site.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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