‘Just Getting Started’

A NEW LODE, IDENTIFIED AS URW3, POINTS TO A BIG BRANCH

Abig branch of the tree has revealed itself in a recently discovered lode at the country’s next gold producer, amid more excitement over bonanza-grade drilling result, at Tuvatu, near Nadi.

And even after close to two decades of continued successful exploration at its alkaline-gold project, in Sabeto, Lion One Metals says it is still nowhere near the base of its some of its major findings.

URW3 Lode

URW3 Lode, a very recent discovery, that the company is all the more reason to continue drilling, says Lion One Metals technical advisor, Quinton Hennigh.

“This drilling is leading us closer and closer to the main conduits of this remarkable high-grade gold system,” he said.

“URW3 is turning into a big branch of the ‘tree.’

“If we chase this down with further drilling, it could lead us to parts of the system in which considerable gold was deposited.

“We must keep drilling.”

Vertical extent of 180 metres

Drilling at a vertical extent of the URW3 Lode, by at least 180 metres, at its high-grade Tuvatu Alkaline Gold Project, along with new intercepts from previously drilled TUG138 drill hole, indicate a significant increase in grade with depth, Lion One said.

More bonanza-grade

The company reports numerous bonanza-grade intercepts return gold assay values ranging from 100800 grams per tonne gold.

“This drilling confirms an increase in the vertical extent of this distinct portion of the 500 zone feeder by at least 180 metres,” said Lion One.

‘No where near its base’

Senior vice-president of exploration, Sergio Cattalani, said the recent develoment was another major advance in continuing efforts to follow and delineate what was increasingly understood to be the principal high-grade feeder at Tuvatu.

“We’re just getting started,” said.

“While we believe we are rapidly defining major portions of the feeder structures, we are also confident that we are in no way near its base.”

“This feeder is developing into a bonanza-grade zone defined by multiple major channel-ways that appear to coalesce. he

“With the TUG-141/TUDDH-601/608 zone, and now the URW3 zone, we have at least two, distinct but likely interconnected

corridors of continuous high-grade mineralization to follow up.”

President Ratu Wiliame Katonivere (centre), is flanked by Lion One Metal’s chief operating officer, Patrick Hickey (left), and chief executive officer, Walter Berukoff, at the company’s Waimalika head office, Nadi, where he said Lion One has raised the bar for other mineral explorers to follow suit.

The longitudinal section, 15 m in thickness in the plane of the URW3 lode (striking N007°, dipping -79°SE). Red dots represent new intercepts reported here; Red diamonds represent intercepts previously reported by hole TUG-138.