Core Viewpoint - Lion One Metals Limited has successfully completed significant infrastructure upgrades at its Tuvatu Gold Mine in Fiji, including a raise bore project and mine ventilation improvements, which are expected to enhance production capabilities and facilitate further development of high-grade gold zones [1][2][4]. Operations Update - The company is currently operating at a 300 TPD pilot plant phase, with plans to expand to 600-700 TPD by 2026 [3]. - The completion of the raise bore and primary ventilation circuit has dramatically improved airflow, allowing for deeper underground development and the advancement of new mineralized headings [4][6]. - A record number of 13 active headings are currently under development, with more expected as new mining equipment arrives [4][6]. Production Results - In Q1 CY2025, Lion One recovered 3,555 ounces of gold, marking a 155% increase year-over-year from 1,394 ounces in the same quarter of 2024 [9]. - The average head grade for the quarter was 4.9 g/t gold, with an overall recovery rate of 80.4% [8]. - Production decreased from the previous quarter's 4,300 ounces due to increased downtime for maintenance and repairs, as well as weather-related disruptions [10][12]. Development Projects - The company is developing its first shrinkage stope along the Ura1 lode, which has shown high-grade results, including 142.66 g/t gold over 2.2 meters [5]. - The Ura1 shrinkage stope is expected to be approximately 100 meters long, 30 meters tall, and 1.5 meters wide, designed to minimize dilution and maximize gold grades [5][6]. - This stope is anticipated to come online in May and June 2025, marking the beginning of a series of similar developments at Tuvatu [5].
Lion One Announces Mine Ventilation Upgrade, Reports Preliminary Gold Results