Grade-Control Drilling Finds More High-Grade Gold in Fiji

https://www.investorideas.com/news/2023/mining/09191Gold-Fiji.asp

Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX; LLO:ASX) has announced new high-grade results from continuing grade-control drilling at its 100%-owned Tuvatu alkaline gold project in Fiji, included 19.78 grams per tonne gold (g/t Au) over 6 meters.

The assays were completed in the project's Zone 2 area, focusing on the URW1, URA1, and Murau lode systems, the company said.

Highlights included (with a 3 g/t Au cutoff):

• 19.78 g/t Au over 6 meters (including 31.52 g/t Au over 3 meters) (from 114 meters depth)
• 14.83 g/t Au over 6 meters (including 25.16 g/t Au over 2.4 meters) (from 90.9 meters depth)
• 18.08 g/t Au over 3.6 meters (including 32.74 g/t Au over 1.5 meters) (from 90 meters depth)
• 25.25 g/t Au over 2.4 m (including 149.63 g/t Au over 0.3 m) (TGC-0078, from 95.2 meters depth)
• 45.89 g/t Au over 0.9 meters (from 23.4 meters depth)
• 8 g/t Au over 4.8 meters (including 21.05 g/t Au over 0.9 meters) (from 47.4 meters depth)
• 8.52 g/t Au over 3.3 meters (including 11.16 g/t Au over 1.8 meters) (from 13.8 meters depth)
• 17.73 g/t Au over 1.5 meters (including 20.98 g/t Au over 0.9 meters) (from 56.4 meters depth)
• 14.13 g/t Au over 1.8 meters (including 18.64 g/t Au over 1.2 meters) (from 67.5 meters depth)

Earlier results released from the drilling include a 6.6-meter interval of 83.47 g/t Au in the Main Zone of the project. Results also included 1,839.55 g/t, 934.91 g/t, and 300.47 g/t Au from Zone 5 of the deposit.

Drilling results are categorized by the average amount of gold in the ore or its ore grade, Investopedia explained. Higher-quality mines have higher-grade ore, but mining ore with lower gold density can still be profitable depending on how it is extracted. Higher quality mines have grades of 8 g/t to 10 g/t or higher.

The Catalyst: 83 Drill Holes Sunk

A total of 83 grade-control drill holes have been sunk in zones 2 and 5 at Tuvatu, the company said, including the 24 released on Thursday.

The primary target of the latest results is the URW1 lode system, which "consists predominantly of narrow, high-grade to locally bonanza-grade vein arrays and vein swarms that strike approximately north-south and dip subvertically to steeply east," the company said in a release.

See also

https://www.streetwisereports.com/article/2023/09/18/production-about-to-start-at-gold-project.html and https://www.streetwisereports.com/article/2023/09/15/grade-control-drilling-finds-more-high-grade-gold-in-fiji.html?m_t=2023_09_15_09_29_21