Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: LIO; LOMLF

With the Onset of the Dry Season, Exploration Work Resumes at Fiji Project
News Update

Source:

Lion One Metals is currently drilling with two rigs and surface sampling various high-priority targets.

In a news release, Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced it recommenced surface sampling in the new Navilawa tenement and began diamond drilling at a "newly defined high-grade target called Biliwi," also located in the Navilawa tenement at its Tuvatu gold project on Fiji.

The first hole at Biliwi will be drilled to a vertical depth of about 55 meters. Lion One plans to also conduct stepout hole drilling there once it intercepts the targeted lode.

Surface sampling is focusing on Banana Creek, which the company believes is "emerging as a very high priority greenfields target in need of near-term drill testing," the release noted.

Also this dry season, Lion One intends to drill test other high priority targets in the Navilawa concessions, including possibly the Matanavatu prospect.

The #1 rig is currently drilling hole TUDDH497, doing so at the same azimuth but 6 degrees steeper than TUDDH496, which was recently finished.

"The lodes at Tuvatu West have returned previously reported very high grade intersections including TUDDH371 14.99m @14.28 g/t Au, TUDDH365 4.31m @ 14.95 g/t Au, and TUDDH364 6.43m @12.74 g/t Au, and it is expected that TUDDH496 and 497 will add significantly more geological information in the area," Lion One Managing Director Stephen Mann said in the release.

The #3 drill rig, which Lion One acquired in April, has yet to be delivered. Because of COVID-19, it has been held up overseas and is now expected to be shipped in late July.

[NLINSERT]

Disclosure:
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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Lion One. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.




Learn More about Which Online Broker is Right for You?

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe