Yerington, Nevada–September 9, 2024– Lion Copper and Gold Corp. (TSXV: LEO) (OTCQB: LCGMF) today reported assay results from its 2024 exploration drilling program at the Yerington and MacArthur properties, which are part of the company’s Yerington Copper Project. The drilling program was funded by Stage 2b funding provided under the terms of the company’s agreement with Nuton LLC, a Rio Tinto venture (refer to December 23, 2023, press release).
The objective of the 2024 Yerington drilling program was to upgrade as much of the inferred resource to the indicated resource classification to be included in the prefeasibility study (“PFS”). The recent drilling, along with the discovery of 17 historic Anaconda holes not previously included in the January 2024 Preliminary Economic Assessment (“PEA”), are now being integrated into an updated mineral resource model as a key input into the ongoing PFS.
Notably, the drilling at the Yerington Pit revealed an extension of mineralization beyond what was identified in the PEA. Despite the recent information, mineralization at the Yerington Pit remains open to the north and at depth. Key highlights from the 2024 drilling program include Yerington drill hole YM-047A intercepting oxide, transition, and sulfide mineralization, and drill hole YM-048 extending mineralization in northern step-out drilling. Additionally, MacArthur drilling intercepted oxide and transition mineralized zones in 14 of the 18 drill holes.
Steven Dischler, CEO of Lion CG, expressed confidence in the updated mineral resource estimates at Yerington and MacArthur, eliminating the need for additional costly drilling activities. The results are expected to enhance and expand the current mineral resources at the Yerington Copper Project, potentially augmenting the overall copper pounds in the ground. The company looks forward to exploring new opportunities that could positively impact the scale, life, and economics of the project.
Drilling operations in 2024 at the Yerington Pit completed 3,326 feet of drilling in 4 core drill holes, while MacArthur drilling operations completed 6,165 feet of drilling in 18 RC drill holes. The results from the current drilling campaign will be integrated with past drilling data for an updated resource model Technical Report.
Quality assurance and control measures were enacted throughout the drilling process to ensure accurate and reliable results. All samples were collected by Alford Drilling, LLC, and analyzed by Skyline Assayers & Laboratories according to industry standards.
Lion Copper and Gold Corp. is a Canadian-based company focused on advancing its copper assets at Yerington, Nevada through an Option to Earn-in Agreement with Nuton, a Rio Tinto venture.
Nuton is dedicated to enhancing Rio Tinto’s copper business through proprietary technologies and capabilities. Their innovative approach aims to increase copper production, achieve higher recovery rates, and minimize environmental impact across various pillars.
The technical information in this update has been reviewed and approved by C. Travis Naugle, a qualified person as defined in NI 43-101.
Certain statements in this communication may constitute forward-looking statements under applicable securities laws. These statements involve known and unknown risks and uncertainties that could impact future exploration activities and results. Investors should exercise caution when interpreting forward-looking statements.
For further information, please contact the company via email at info@lioncg.com or visit their website at www.lioncg.com. Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
