Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release it launched a high-grade feeder diamond drill program at its Tuvatu alkaline gold project in Fiji.
The purpose of the campaign, which will consist of four holes, is to show that the Tuvatu resource could extend vertically beyond a 1,000 meter (1,000m) depth, which would be about two to three times deeper than the current resource does.
Another aim is to "test for potential high-grade feeder structures emerging from the interpreted magma chamber underlying the 7 kilometer in diameter Navilawa caldera," the release noted.
"This high-grade feeder drill program enables Lion One to test the alkaline gold model that we believe drives the expansive gold system within the Navilawa caldera," Lion One Technical Advisor Quinton Hennigh said in the release.
Accordingly, one of the four holes, TD01, 800m long, will target downdip extensions near the middle of the current resource, where an extremely high-grade feeder structure appears to be join together. To test downdip about 300m below TD01, a second hole, TD02, 1,000m long, will be drilled. The final two holes, TD03 and TD04, both also 1000m long, will test downdip areas 200m north and 200m south of TD02, respectively.
Lion One also stated that it intends to conduct a systematic controlled source audio-magnetotelluric geophysical survey over the exploration license area encompassing the Navilawa caldera to identify any deep gold-bearing structures.
"We believe the deeper potential beneath the current Tuvatu resource, combined with the more extensive potential of other targets within the company's new license area within the Navilawa caldera, creates a great opportunity for Lion One to demonstrate Tuvatu's potential tier-one gold asset status," Hennigh stated.
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