Lion One Accelerates Mine Development and Construction at The Tuvatu Alkaline Gold Project in Fiji
InvestorSarfari Comments:
We The latest news release on Lion One's Tuvatu Alkaline Gold Project in Fiji is very positive, as it highlights the company's accelerated mine development and construction. Lion One is making great progress towards its goal of becoming Fiji's next gold producer, with the Tuvatu project being its flagship asset.
According to the news release, Lion One has made significant progress in the construction of its processing plant, with the installation of key components and equipment well underway. In addition, the company has advanced underground development at the Tuvatu mine, with a total of over 1,200 meters of decline and lateral development completed.
This accelerated development is a clear indication of Lion One's commitment to delivering the Tuvatu project on time and within budget. It also highlights the company's confidence in the project's potential, as well as its ability to overcome the challenges posed by the COVID-19 pandemic.
The Tuvatu Alkaline Gold Project is an exciting project with great potential, and Lion One's accelerated development is a positive step towards unlocking this potential. With construction and development progressing well, the company is on track to achieve its goal of becoming Fiji's next gold producer, which will bring significant economic benefits to the country and its people.
North Vancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) announces the acceleration of mine development and plant construction following the completion of project financing, at the Company’s 100% owned Tuvatu Alkaline Gold Project in Fiji.
Lion One has advanced the number 2 development drive by over 250 meters and has completed the first cut of high-grade material from the URA1 lode. The samples taken from this first cut averaged 14 g/t gold and are designated for the high-grade ROM stockpile.
Lion One CEO Walter Berukoff commented, “In conjunction with ongoing mine development, we are preparing to mobilize personnel for the installation and commissioning of the Tuvatu gold processing plant. All of the processing plant components have already been delivered to Fiji, with shipments of the remaining bulk materials in progress and expected to be delivered by the end of March to coincide with the completion of infrastructure for the mill area, electrowinning facility, and gold room.”
The Lion One processing plant will treat material using a two-stage crushing process, with a primary jaw crusher and secondary cone crusher feeding a two-stage grinding circuit. The ground material will feed an integrated two stage gravity concentration circuit with some concentrates treated by an intensive cyanide leaching reactor and the remainder of the concentrates leached using conventional cyanide Carbon in Leach (CIL)) technology. Gold will be recovered from the gold laden carbon using conventional absorption desorption recovery (ADR) technology and smelted on site to produce gold doré bars. The leached tailings will be treated using the SO2/air process to remove any residual cyanide. Filtered tailings will be transported to Lion One’s tailings storage facility 3.5 km from the Tuvatu mine site.
Lion One plans to operate at an initial production capacity of 300 tonnes per day for the initial 18 months of operations before increasing the capacity to 500 tpd in mid-2025. The initial mining will focus on the near-surface resource while advancing underground development into high-grade mineralization in Zone 500.
The 2023 drilling program will be focused on three fronts: grade control drilling of the near-term production blocks; drill-testing regional targets with the aim of identifying additional separate mineralized systems within the greater Navilawa caldera; and completing the geophysical (CSAMT) surveys initiated in 2022 to delineate additional drill targets.
About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at U and on the SEDAR website at www.sedar.com.
For more pics from the original NR, please click here Lion One Accelerates Mine Development and Construction at The Tuvatu Alkaline Gold Project in Fiji (ceo.ca)