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TICKERS: LIO; LOMLF

Explorer Readies Drill Rigs for 2020 Exploration at Fiji Gold Project
News Update

Source:

Lion One Metals plans to have three rigs at work there during the dry season.

In a news release, Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced that three diamond drill rigs are being mobilized for the planned 2020 dry season exploration program at its Tuvatu gold project on Fiji.

The aim of the upcoming drill program is to further confirm presence of a large-scale alkaline gold system within the Navilawa caldera.

"With more drilling we hope to gain a better understanding of the underlying plumbing system that allowed gold-rich fluids to ascend from the underlying magma chamber and ultimately discover the root feeder or feeders that gave rise to this lode complex," Dr. Quentin Hennigh, technical adviser to Lion One, said in the release.

Two rigs, which Lion One owns, already are on site, the company noted. The third, which the Vancouver-headquartered company recently acquired, is expected to delivered from South Korea in about six weeks.

One of the drill rigs, which can drill NQ-sized core to a 1,500 meter (1,500m) depth, is currently testing downdip extensions at Tuvatu West.

The second rig, recently reconditioned and capable of drilling NQ-sized core down to 250m, is being mobilized to the Kingston-Biliwi prospect 2 kilometers north of Tuvatu. This prospect is in the newly acquired concessions that encompass the northern portion of the Navilawa caldera.

The third rig, not yet at Tuvatu and capable of drilling NQ-sized core to a 1,500m depth, will drill test new targets in those same Navilawa tenements. One is Tuvatu-style Banana Creek that demonstrates numerous high-grade outcropping lodes, the company stated.

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