Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release recent results from the second deep diamond drill hole at its Tuvatu gold project in Fiji.
Drilling of that hole, TUDDH494, remains in progress. It now is at a 700 meter (700m) depth of the planned roughly 1,000m target.
Results for the first 400m depth of the hole include a "significant" intercept, 3.6m of 13.12 grams per ton (13.12 g/t) gold, from 188.8m from the Murau 2 lode, including 0.61m of 64.24 g/t gold, from 189.9–190.5m. This "is interpreted to be part of the east-west striking Murau 2 lode and clearly demonstrates that hydrothermal fluids capable of depositing high-grade mineralization were active in this part of the Tuvatu system," the release noted. "This intercept shows this lode is open at depth where it might link up with a feeder structure."
The other reported assay for the second hole was 1.47m of 1.45 g/t gold, from 157.15m from the Murau 1 lode.
Lion One intends to fast-track drilling by adding a second shift for the drill rig in operation there and getting one or more rigs mobilized to the site.
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