Lion One begins gold mining new find at Tuvatu

Lion One Metals (TSX: LIO; OTC: LOMLF; ASX: LL0) has begun mining the near-surface, high-grade gold ore from a recently discovered lode. This is the first time modern mining methods have been used at Tuvatu, a significant milestone, according to the company.

The new lode was discovered in late-2022, 75 metres into the new development decline. Development advanced by 13 metres, in seven separate cuts, each yielded about 30 tonnes of material. A vertical nine-metre, 1.5-by-1.5-metre raise was completed, plus another 13 metres of advance. The activity produced a total of 475 tonnes of ore, which has been stockpiled pending the completion of the processing plant.

Lion One points to very high grades where drilling has intersected the lode. Hole TUDDH-624 returned 20.16 g/t gold over 2.1 metres, including 33.04 g/t over 1.2 metres, including 106.69 g/t over 0.3 metre. Hole 621 returned 27.99 g/t gold over 1.2 metres. Hole 359 returned 4.21 g/t gold over 2.44 metres, including 10.85 g/t over 0.41 metre. Hole 086 returned 9.14 g/t gold over 2.1 metres, including 18.7 g/t over 0.7 metre.

The Tuvatu mine is on the island of Viti Levu in Fiji. According to the preliminary economic assessment competed in 2020, the deposit 1.0 million tonnes of indicated resources grading 8.50 g/t gold (274,600 oz.) and 1.3 million tonnes of inferred resources at 9.0 g/t gold (384,000 oz.). A cut-off grade of 3.0 g/t gold was used.

The Tuvatu technical report is available on the company’s website, www.LionOneMetals.com.