Lion One confirms high-grade lode at Tuvatu project in Fiji

The company is now drilling a second daughter wedge hole (TUDDH500w2), from mother hole to further retest the newly discovered high-grade zone under the Tuvatu lode system.

The Tuvatu gold deposit — located on the island of Viti Levu — contains an estimated 1.12 million tonnes of indicated resources at 8.17 g/t Au (294,000 oz. Au) and 1.3 million tonnes of inferred resources at 10.60 g/t Au (445,000 oz. Au).

Shares of Lion One Metals surged 13% on the TSX by 1:45 p.m. EDT Monday. The Vancouver-based miner has a market capitalization of approximately C$288 million.