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Lion One Looks To Make Tuvatu A High Grade Mine

Lion One Metals is now looking forward to becoming Fiji’s next high grade gold mining operation. This follows the Australian Stock Exchange company being granted a Special Mining Lease for
25 Mar 2015 11:21
Lion One Looks To Make Tuvatu A High Grade Mine

Lion One Metals is now looking forward to becoming Fiji’s next high grade gold mining operation.

This follows the Australian Stock Exchange company being granted a Special Mining Lease for the company’s Tuvatu Gold project by the Fijian Government.

Tuvatu is in Sabeto, north of Nadi.

Lion One chairman and chief executive, Walter Berukoff, said: “This is a very significant milestone for Lion One.

“We thank the Government of Fiji for their support in approving the grant of SML 62 for Tuvatu.

“We are now permitted to enter the next phase of development focused on our goal of bringing Tuvatu into production and becoming Fiji’s next high grade gold mining operation.”

The Special Mining Lease provides exclusive rights for the potential development, construction, and operation of mining, processing, and waste management infrastructure at Tuvatu and the surrounding lease area.

The grant represents the final step in permitting process under Fiji’s Mining Act.

The company filed its Mining Lease application in 2013 and says it has been notified by Mineral Resources Director, Malaki Finau, that all the requirements for the Mining Lease have been satisfied and the grant has been approved.

The Mining Lease area covers 373 hectares and contains all of the current NI 43-101 resource and multiple high grade prospects in the Navilawa goldfield, one of Fiji’s major volcanic intrusive complexes.

Tuvatu’s indicated resource comprises 1.1 million tonnes averaging 8.46 g/t gold for 299,500 ounces, with an additional inferred resource of 1.5 million tonnes averaging 9.7 g/t gold for 468,000 ounces, at a cut-off grade of 3.0 g/t gold.

The Tuvatu camp is located 16 km by road from the Lion One Fiji head office adjacent to the International Airport in Nadi, and 35 km from the Port of Lautoka.

 




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