Lion One notes gold above 64g/t during Fiji mine extension drilling

Lion One Metals Ltd (ASX:LLO), which is developing the Tuvatu gold project in Fiji through to production, has reported a slew of high-grade results from near-expansion drilling there, with intercepts reaching above 64 grams per tonne.

Among the drilled assays taken from the Murau down-dip extension and SKL areas of the project were 64.46 grams per tonne (g/t) over 8.1 metres – including 268.36 g/t over 1.2 metres; and 30.48 g/t over 4.8 metres – including 104.55 g/t over 0.6 metres.

Although the areas are outside of Lion One’s current mine plan, they are proximal to its underground workings, and will be brought into the plan in either late 2024 or next year.

Production from Tuvatu – located in Fiji’s Viti Levu island – is also set to kick off in the fourth quarter of this year.

The drilling at Murau comprised 34 holes, of which 18 were drilled from underground and 16 from surface, seeking to test the down-dip area over a strike length of 50 metres. At SK, exploration was looking to define a series of flat-lying mineral lodes which have not been subject to drilling since 2019.

Lion One was trading at 62c at 11:27 AEST, a flat response since the market opened.