Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release the results of two diamond drill holes, still in progress, at its Tuvatu project on Fiji.
Both holes returned shallow and high-grade gold, the company stated.
"We are starting to see a clearer picture develop around which lode structures are deep tapping and likely prospective for high-grade gold mineralization," Dr. Quinton Hennigh, technical adviser to Lion One, said in the release. "Our recent shallow drilling shows that the URW1 lode is one of these."
Hole TUDDH520, oriented in a southeast direction, returned 12.45 meters (12.45m) of 21.31 grams per ton gold (21.31 g/t Au), including 0.35m of 544 g/t Au in a shallow intercept through the URW1 lode, starting at 90.10 meters downhole. The company noted that the results show a wider width than that encountered on historical drilling along with numerous structures and visible gold, indicating a stronger mineralized system near surface. According to Lion One, the URW1 lode warrants further extensive deep testing.
Deeper in TUDDH520, at 125.85 meters downhole, the drill bit intersected 2.35m of 4 g/t Au, including 0.45m of 13.58 g/t Au. This aligns with the URW2 lode.
As for the second hole, TUDDH517W, oriented to the north, it returned 3m of 114.1 g/t Au starting at 594.6 meters downhole.
"This intercept is believed to be in a splay structure coming off of a nearby deep high-grade lode being targeted by Lion One," the release noted.
The company intends to continue drilling these two holes, and ramp up its Tuvatu drill program this year. Two underground drill rigs purchased by Lion One are expected to arrive in Fiji around February 7.
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