CLICK HERE to read the full NR.
- The second diamond drill hole, TUDDH494, into “Tuvatu Deeps” is still in progress and currently at a depth of 700m
- Results received for the first half of the hole drilled to date include:
- 1.47m @ 1.45 g/t Au from 157.15m from Murau 1 lode
- 3.60m @ 13.12 g/t Au from 188.80m from Murau 2 lode
- Lion One to escalate the drilling program by moving to double shifting its own drill rig and review options for mobilising further drill rigs to the property
Hole TUDDH-494 hit the Murau 2 lode and extented the strike with an intercept of 13.12 gpt over 3.60 m (gpt * width = 47.2). The previous hole (hole TUDDH-493) hit the Murau 2 lode with an intercept of 105 gpt over 0.35 m (gpt * width = 36.75). Thus, this latest hit on Murau 2 was slightly better than the previous one.
Hole TUDDH-494 has only been assayed over the first 400m and the rest of the hole is where things could get interesting since this is where it is expected to intercept the down dip extensions of the two main mineralised north-south structures at Tuvaru, namely the URW1 and UR2 lodes:
It seems some investors/speculators were quick to assume that this NR contained assays from the interval that is expected to intersect the main lodes which is perhaps why we saw some profit taking/sell the news. It did not… Food for thought.
(Note: This is not a buy or sell recommendation. This is not investment advice and I am not a geologist. This article is highly speculative, forward looking and I can’t guarantee accuracy. Always do your own due diligence. I own shares of Lion One Metals which I have bought in the open market and am thus biased. Lion One Metals is a passive banner sponsor on my site. Always do your own due diligence.)
The Hedgeless Horseman
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