Lion One Metals Limited Initiates Engineering and Construction of Flotation Circuit at Tuvatu Alkaline Gold Project in Fiji
North Vancouver, British Columbia – The Canadian exploration company, Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”), is thrilled to announce the commencement of engineering and construction of the flotation circuit at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The mine is currently functioning at the 300 TPD (tonnes per day) pilot plant level.
Background
Lion One Metals Limited is a leading exploration company with a focus on discovering and developing high-value gold projects in the Asia-Pacific region. The Tuvatu Alkaline Gold Project, situated on the island of Viti Levu in Fiji, is Lion One’s flagship asset. The project hosts an Indicated Resource of 1.1 million ounces of gold and an Inferred Resource of 1.3 million ounces of gold. The project’s potential to expand these resources and increase production is high, making it an exciting development for the mining industry.
Construction of the Flotation Circuit
The construction of the flotation circuit marks a significant milestone in the development of the Tuvatu Alkaline Gold Project. This circuit is a crucial part of the gold processing plant and is responsible for separating gold-bearing minerals from the waste rock. The engineering and construction phase is expected to take approximately 12 months, after which the plant will be able to process up to 1.3 million tonnes of ore per year. This increase in production capacity is expected to significantly boost Lion One’s revenue and profitability.
Impact on the Local Community
The construction and operation of the Tuvatu Alkaline Gold Project are expected to bring numerous benefits to the local community. The project is projected to create over 200 jobs during the construction phase and around 250 jobs during the operational phase. The employment opportunities will provide a significant boost to the local economy and help reduce unemployment rates in the region. Additionally, the Company has committed to investing in local infrastructure, including roads, schools, and water supply systems, to ensure that the local community benefits from the project in the long term.
Impact on the Global Mining Industry
The commencement of the engineering and construction of the flotation circuit at the Tuvatu Alkaline Gold Project is expected to have a positive impact on the global mining industry. The project’s potential to produce 1.3 million tonnes of ore per year is significant, particularly in the context of the current global gold market. With gold prices expected to remain stable, the increased production capacity of the Tuvatu Alkaline Gold Project is likely to contribute to the global gold supply. Furthermore, the project’s use of innovative mining technologies, such as the alkaline gold processing method, may set a new standard for the mining industry, encouraging other companies to adopt similar methods to increase their own production capacity and reduce their environmental footprint.
Conclusion
The commencement of engineering and construction of the flotation circuit at Lion One Metals Limited’s Tuvatu Alkaline Gold Project is an exciting development for the mining industry. The project’s potential to significantly increase production capacity and create jobs in the local community is significant, making it an important investment opportunity for Lion One shareholders. Additionally, the project’s use of innovative mining technologies is likely to set a new standard for the mining industry and contribute to the global gold supply. As the construction progresses, investors and industry observers will be watching closely to see how this development unfolds.
- Lion One Metals Limited announces the start of engineering and construction of the flotation circuit at the Tuvatu Alkaline Gold Project in Fiji.
- The mine is currently operating at the 300 TPD pilot plant level.
- The flotation circuit is a crucial part of the gold processing plant and is responsible for separating gold-bearing minerals from waste rock.
- Construction is expected to take approximately 12 months and will increase production capacity to 1.3 million tonnes of ore per year.
- The project is expected to bring numerous benefits to the local community, including employment opportunities and investments in local infrastructure.
- The project’s use of innovative mining technologies may set a new standard for the mining industry and contribute to the global gold supply.
