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Lion One Announces Fiji Gold Exploration And Development Update

Lion One Metals Limited has submitted a tender to acquire the Navilawa tenement directly adjoining the company’s Tuvatu Gold Project in Nadi’s Sabeto Valley. The Company also announces that exploration
15 Oct 2016 11:00
Lion One Announces Fiji Gold Exploration And Development Update
Part of Tuvatu Gold Project in the Sabeto Valley, Nadi.

Lion One Metals Limited has submitted a tender to acquire the Navilawa tenement directly adjoining the company’s Tuvatu Gold Project in Nadi’s Sabeto Valley.

The Company also announces that exploration on a new discovery is underway at the Jomaki Ridge Prospect inside the Tuvatu Mining Lease.

It said that dewatering and drilling contractors have been retained and mobilided for the next phase of development at Tuvatu.

 

Navilawa Tender

Fiji’s Mineral Resources Department (MRD) publically solicited expressions of interest for the new Navilawa tenement in July and August this year after the lapse and expiry of the previous holder’s exploration license.

The Navilawa tenement, if combined, would consolidate ownership of the entire Navilawa mineral complex under a +30,000 hectare exploration license package with Tuvatu’s 384.5 hectare Mining Lease (SML 62) and mining and processing operation, currently under development, at its center.

The Company has submitted a tender for the Navilawa tenement with $15 million of initial exploration expenditures proposed over five years.

The Navilawa project area has at least 10 well defined prospects including the Kingston Mine, Banana Creek, and Tuvatu North.

Mapping, sampling and geophysics clearly demonstrates that the Tuvatu gold deposit extends north into the Navilawa tenement area.

On a macro scale, there is mineralisation evident from the Banana Creek prospect, well within the Navilawa tenement, all the way to the Jomaki Ridge Prospect at the south end of Lion One’s tenements, demonstrating a NE to SW extent of over 5.5 km.

Mineralisation also extends along a north-south corridor aligning the Upper Ridges Lodes of Tuvatu with the Kingston Mine 2 km to the north.

Navilawa hosts a multi-phase monzonitic intrusive system exhibiting epithermal styles of mineralization, with some porphyry affinities.

The MRD has advised that Lion One should be notified of the result of its tender proposal before the end of this month.

 

Jomaki Discovery

Meanwhile, exploration of a new discovery is underway at the Jomaki Ridge Prospect situated within SML 62, 1.50 km south-west of the planned processing plant site at Tuvatu.

Lion One’s Fiji exploration team has discovered significant extensions of a pervasively altered and densely veined zone situated between the contact of volcanic units and the micro-monzonite intrusive.

Visible gold has been detected at the surface and in some recently dug trenches.

Trenching and sampling has begun to test outcrops and near-surface mineralisation, with initial rock chip sampling returning results up to 125 g/t Au.

An extensive NE-SW veinset at Jomaki Ridge is cross cut by additional NS veins which are thought to be extensions of the UR1 and UR 2 Lodes already recognized at Tuvatu.

Further sampling results are expected by late October, with 183 samples already dispatched to Townsville, Queensland for analysis.

It will be followed by more samples collected from the extensive trenching program across the width and strike length of the mineralized zone currently underway.

 

Dewatering, Decline, Drilling

The Company also reports that its prime contractors and suppliers have been retained and equipment has been purchased for dewatering, drilling, and rehabilitation of the existing decline.

A new diesel powered pumping station has been delivered and is scheduled to become operational in late October.

Based on prior testing, the Company estimates that less than 30 days of pumping will be required to dewater past the Core Shed Fault, 150 meters inside the decline.

The Company plans to have diamond drill rigs operating on surface by late October and underground by late November, to focus on numerous infill and extensional targets of the existing mineralized lodes at Tuvatu.

Feedback:  rachnal@fijisun.com.fj

 

 

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