Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Lion One Metals (TSX-V: LIO) announced on Monday that it has encountered high-grade gold mineralization in a diamond wedge hole, drilled to a depth of 709.0 metres at its Tuvatu gold project in the island of Viti Levu, Fiji.
High-grade intervals include 70 g/t Au over 3.3m including two narrower intervals of 305.00 g/t Au over 0.3m and 255.00 g/t Au over 0.6m. High-grade intervals encountered in the mother hole include 2.0m grading 46.70g/t Au and 12.7m grading 55.43g/t Au including sub-intervals of 4.7m grading 120.16g/t Au with an exceptionally high-grade core of 0.9m grading 582.33g/t Au.
The company is now drilling a second daughter wedge hole from the 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.
