One lion minerals confirms the existence of a high-quality gold supply zone in Tuvalu

 

One lion minerals confirms the existence of a high-quality gold supply zone in Tuvalu

One metal lion (Leo.V), A Canadian geological exploration company specializing in the production of a high-quality and 100% low-cost underground gold mine project Tuvatu Gold, Fiji, today announced the results of further drilling on a previously announced high-quality intercept of 75.9 meters 20.86 grams per annum. The ton of gold in the tank is 141.

The results of the first two diamond drilling holes were obtained and synthesized to confirm a significant new mineralization of the TOG-141 feeding area reported on June 6, 2022.

The main indicators for such holes are 12.22 g /ton Au for 54.9 meters, 115.42 g / ton Au for 1.8 meters and 26.2 g / ton Au for 1.2 meters in the well todh-601.

The results of TOG-145 included 4.69 g/ton Au more than 10.2 meters, 6.72 g /ton Au more than 15.3 meters and 28.68 g /ton Au more than 1.8 meters.

Quinton Hennig, technical advisor at Lion One, said: "the more we drill, the clearer the geological conditions of this important forage area become. This occurs at an important structural junction where veins 1 and 2 meet veins 4 and 5 from the Northeast from North to South. It is important to note that high-quality mineralization in andesite host rocks seems to be concentrated immediately outside the contact with the most unfavorable monzonite species. Based on this understanding, we believe that it is still possible to achieve this deep connection with high quality. The team is currently preparing new holes to test this expansion.

The CEO of the company, nesalter pirokov, added: "the impressive discovery announced earlier after the drilling of the TOG-141 well was confirmed by the subsequent drilling of the todh-601 well. The positive confirmation of the longest full-fledged interception ever recorded at TU avcato gives us an additional guarantee that we are just beginning to discover the true potential of a full-fledged 500-zone loader. The continued success of Tu vivato's systematic drilling programs underscores the importance of Tu vivato as a potentially multimillion-dollar storehouse of high-quality, world-class gold.”

Tuvatu is located 24 kilometers northeast of the city of Nadi on the island of Viti Levu in the Republic of Fiji.

The alkaline gold mining project is located in navelava, one of the well-known gold mining systems associated with alkaline rocks along the Northeast Viti Levu line, the 250-kilometer Meiji gold corridor.

Along this direction, many gold deposits were discovered, including vatukula and raki-raki. Since 1937, more than seven million ounces of gold have been mined from vatukula or kaizermin.

An assessment of Tuvatu's mineral resources for June 2014 indicated that the Indicated resources were 1.1 million tonnes at 8.46 g/Au tonnes for 299,500 AU ounces and estimated resources were 1.5 million tonnes at 9.70 g/Au tonnes for 468,000 g/Au tonnes.

Earlier this month, the company announced that it had spent more than 145 million Canadian dollars on the tofato project, and estimated that it would need another 100 million Canadian dollars before it could earn its first income next year.

Lion One metal is currently trading at 1.28 share per share with a market capitalization of 200.22 million million.