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Prospector Picks First Exploration Target from New Acquisitions
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Mike Niehuser, an analyst with Scarsdale Equities, provided background on an asset believed to be an "advanced exploration target."

In a Dec. 1 research note, Niehuser reported that of the 11 exploration targets in its recently acquired Navilawa Special Prospecting License area in Fiji, Lion One Metals Limited (LIO:TSX.V) decided to explore Banana Creek first. "Based on the amount of historic exploration activity with various exploration methods completed, we believe Banana Creek to be an advanced exploration target," he noted.

Accessibly located within the Navilawa caldera, 3 kilometers northeast of the company's Tuvatu project, Banana Creek "appears to contain both gold and base metal mineralization similar to Tuvatu's HT corridor," Niehuser wrote. Banana Creek could provide ore to the mill proposed for Tuvatu.

Niehuser provided a summary of the historic work done at Banana Creek but noted it was completed without "security, laboratory and assay methods necessary to be relied upon for resource calculation or investment purposes."

Past geophysical surveys showed a zone of hydrothermal alteration, and soil samples revealed an area of anomaly. Of the 800 rock chip samples taken, 114 reported over 1 gram per ton (1 g/t) gold. Fourteen of them indicated 10 g/t or higher gold, the highest being 46.3 g/t. From the 531 meters (531m) of diamond drilling that were done at Banana Creek, hole BCDH4 intersected 19.5 grams g/t gold over 0.4m at a depth of 32m.

Niehuser reiterated Scarsdale Equities' Buy rating and CA$1.40 per share target price on Lion One Metals, whose stock is currently trading at around CA$0.57 per share.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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