Lion One Metals (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) has reported successful mining results marked by better-than-expected grades from underground developments at its wholly owned Tuvatu alkaline gold project in Fiji.
Face sampling of two separate lodes returned 19.91 grams per tonne (g/t) gold over the first 35 metres of mining and 9.60 g/t gold over the first 22.5 metres, respectively. The first lode, which had peak value of 246.79 g/t, is stronger than anticipated, while the second represents additional upside, the company said.
The lode system, called URW1, was originally modelled as a single lode with average grade of 14.05 g/t gold. This is the second lode being mined by the company since the discovery of lode URA1 in late 2022.
Lion One CEO Walter Berukoff said that the face samples are collected directly from the mining drive, and as such, they provide the most accurate representation of the grade of the material that the company is mining. The results to date are much greater than expected, he emphasized.
“These results provide the first comprehensive view of the grade distribution within these lodes. Tuvatu has once again outperformed and as underground developments progress we’re beginning to see the true potential of the system,” he added.
