- Lion One Metals (LLO) has added two more drill rigs to its fleet and recorded high-grade gold results from its Tuvatu Alkaline Gold Project in Fiji
- The drill rigs have a 1000-metre depth capacity and can be utilised from the surface or underground
- The company plans to have the rigs functional by the end of the month
- Meanwhile, recent drilling at the company’s Alkaline Gold Project intersected four shallow, high-grade intercepts while infilling near-surface gaps in or adjacent to the current lode
- The best intercept was 0.13 metres at 51.69 grams per tonne g/t of gold from 57.59 metres
- Lion One is trading flat at $1.32 cents per share at 1:23 pm AEDT
Lion One Metals (LLO) has added two more drill rigs to its fleet and has recorded high-grade gold results from its Tuvatu Alkaline Gold Project in Fiji.
The two new Canadian built Zinex drill rigs have a 1000-mete depth capacity and can be utilised from the surface or underground.
The rigs and related equipment arrived at the project in February and are set to be fully functional by the end of this month.
The two new rigs bring the company’s total number of rigs to six. Four of the rigs will continue to focus on near-surface and deep drilling at Tuvatu, while the other two rigs will drill anomalies uncovered in by a CSMAT (controlled source audio magnetotelluric) survey in the surrounding Navilawa Caldera.
Today, Lion One also reported high-grade gold results at its wholly owned gold project.
Results were received from hole TUDDH-521, which intersected four shallow, high-grade intercepts infilling near-surface gaps in or adjacent to the current lode resource mode.
The best intercept was 0.13 metres at 51.69 grams per tonne (g/t) gold from 57.59 metres.
Other results include 0.23 metres at 32.23 g/t gold from 82.06 metres and 0.38 metres at 30.05 g/t gold from 75.22 metres.
Results from February last year from the recently completed TUDDH-520 intersected 21.31 g/t of gold over 12.45 metres including 544 g/t of gold over 0.35 metres at a vertical depth of 75 metres.
The company says these combined results demonstrate a significant increase in the grade of the lodes in the area.
Lion One is trading flat at $1.32 cents per share at 1:23 pm AEDT.