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Be the first with the news that moves the market- Lion One Metals (TSXV:LIO) has brought its second diamond drilling online at the company’s Navilawa tenement in Fiji
- The drill is targeting a newly defined high-grade target called Biliwi, where Lion One intersected high-grade gold back in February
- Notable results included 60.4 grams per tonne gold over 0.40 metres and 94.8 grams per tonne gold over 0.4 metes
- The drill will test Biliwi to a depth of 55 meters, with further step-out holes planned as the program moves forward
- Lion One Metals (LIO) is down 2.1 per cent and is trading at C$1.40 per share
Lion One Metals (TSXV:LIO) has brought its second diamond drill online at the company’s Navilawa tenement in Fiji.
The drill is targeting a newly defined high-grade target called Biliwi. Lion One discovered high-grade gold from surface sampling at Biliwi in February.
Notably, the company intersected 60.4 grams per tonne gold over 0.40 metres and 94.8 grams per tonne gold over 0.4 metes.
Other surface trench samples included 17.9 grams per tonne gold over 0.75 metres and 83.6 grams per tonne gold over 0.45 meters.
The new drill will test Biliwi to a depth of 55 meters, with further step-out holes planned as the program moves forward.The work has centred on the Banana creek prospect, which has returned solid assays up to 35.30 grams per tonne over 0.45 metres.
The other drill is currently working on the site’s other target, the Tuvatu West lode.
Managing Director of Lion One, Stephen Mann said he was very excited by the structures the company identified through its latest drilling work.
“We have clearly demonstrated that the structural corridors highlight CSAMT geophysical survey are real and are the host of mineralising fluids.
“The intervals drilled into these structural corridors have intersected zones of very good alteration including pyrite, carbonate and alkaline feldspars, as well as traces of base metals which have proven. to be good pathfinders.
“In addition, several very fine specks of visible gold have also been recognised,” he said.
Lion One Metals (LIO) is down 2.1 per cent and is trading at C$1.40 per share at 2:00 pm EDT.
