Lion One Announces Construction of Flotation Circuit at Tuvatu Gold Mine in Fiji
Rhea-AI Summary
Lion One Metals (OTCQX: LOMLF) has announced the commencement of engineering and construction of a flotation circuit at its wholly-owned Tuvatu Alkaline Gold Project in Fiji. The project represents a significant expansion of the current 300 TPD pilot plant operation, with plans to double capacity to 600 TPD in stages.
The first expansion phase includes adding a flotation circuit with a regrind mill for processing flotation concentrate to approximately P80 20 microns before feeding the pre-treatment and CIL circuits. According to metallurgical testing conducted by Lion One's lab in Fiji, this addition is expected to increase gold recoveries from the current 80-83% to over 90%.
The company has completed engineering of concrete foundations and begun construction preparation. Steel and flotation plant equipment orders have been placed, with construction scheduled for completion in Q4 CY2025.
Positive
- Planned increase in processing capacity from 300 TPD to 600 TPD
- Expected 10% increase in gold recovery rates to over 90%
- Immediate payback expected from flotation circuit implementation
Negative
- Construction completion not until Q4 2025
News Market Reaction
On the day this news was published, LOMLF declined 0.41%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
North Vancouver, British Columbia--(Newsfile Corp. - March 20, 2025) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to announce the start of engineering and construction of the flotation circuit at its
The Tuvatu gold mine is currently operating at the 300 TPD pilot plant level. The Company plans to double plant design capacity to 600 TPD with the expansion occurring in stages. The first stage of expansion is the addition of a flotation circuit that includes a regrind mill for processing flotation concentrate to approximately P80 20 microns prior to feeding the pre-treatment and CIL circuits.
Metallurgical testing conducted by the Lion One metallurgical lab in Fiji indicates that the addition of a flotation circuit will increase gold recoveries at Tuvatu by up to
Engineering of the concrete foundations of the flotation circuit has completed and construction preparation has begun. The steel and flotation plant equipment has also been ordered. Construction is anticipated to be complete in Q4 CY2025.
Lion One Chairman and President Walter Berukoff stated: "Construction of the flotation circuit is a priority for Lion One. Upon completion of construction the flotation circuit will provide immediate payback for the Company by increasing recoveries to over
Competent Person's Statement
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101"), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its
On behalf of the Board of Directors,
Walter Berukoff, Chairman & President
Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245355
FAQ
What is the expected improvement in gold recovery rates at LOMLF's Tuvatu mine after flotation circuit completion?
When will Lion One Metals (LOMLF) complete the flotation circuit construction at Tuvatu?
What is the current and planned processing capacity at LOMLF's Tuvatu gold mine?
How will the flotation circuit expansion impact LOMLF's Tuvatu project economics?
