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News Update

Gold Developer Accelerates Drilling after Uncovering High-Grade Lodes at Fiji Gold Property
News Update

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Lion One Metals reported that it has discovered Tuvatu style lodes at its Banana Creek project located in the South Pacific island nation of Fiji.

Current benching from Banana Creek prospect

In a news release, Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX), which concentrates its efforts on advancing its wholly owned, high-grade underground Tuvatu Alkaline Gold Project in Fiji, announced "the discovery of Tuvatu style lodes at Banana Creek, approximately 3 km northeast of the Tuvatu resource."

The company advised that Banana Creek, which is part of its Tuvatu gold project, is its high-priority new greenfields target located in its recently granted Navilawa tenement. The firm stated that one of its drill rigs recently completed two diamond drill holes at Tuvatu West and has now resumed deep drilling under the main Tuvatu lode system and its second rig has initiated drilling new targets within the Navilawa license area.

The company said that since the dry season began it has been aggressively opening roads and trench cuts within the new Navilawa tenement. The firm is currently focused on the Banana Creek site and noted that its team has found multiple outcropping lodes similar in nature to those seen at Tuvatu and is now conducting systematic sampling of the newly discovered structures.

The company stated that rig #1 has recently been moved to the pad on which deep hole TUDDH495 is situated and noted that the bottom of that hole displayed promising zones of alteration and veining at its very end. The firm added that diamond drill rig #2 recently started drilling new targets at Biliwi within the Navilawa tenement where high-grade samples were collected early in 2020.

The company noted that it recently purchased a third diamond drilling rig which is currently in transit from South Korea. The firm mentioned that it expects this rig to arrive in a couple of weeks and plans to use it along with rig #1 in undertaking the Tuvatu step-out and feeder test program.

Quinton Hennigh, technical advisor to Lion One commented, "Crews in Fiji are finding new outcropping lodes daily at Banana Creek and surrounding areas as they open up roadcuts and trenches...Many of these are generating high-grade assays and appear similar to gold lodes seen at Tuvatu nearly 3 km to the southwest. We are now seeing a steady stream of assays come in from these new areas and we expect many more over coming months."

"Drill targets are quickly emerging at Navilawa. Two holes at Tuvatu West appear to have encountered high level splay structures, possibly above a deeper feeder structure. We plan more drilling at a deeper level in this area later this year. Meanwhile our Tuvatu step- out and feeder drill program continues. This is shaping up to be a busy, exciting year," Hennigh added.

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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