Massive amounts of gold has been discovered at the Tuvatu Gold Mine in Nadi in Fiji.
Lion One Metals from Vancouvuer in Canada has claimed that the grade and quantity of the gold will one day fall in the ranks of notable multi-million ounce gold deposits such as Porgera in Papua New Guinea and Vatukoula also in Fiji.
PNG, Fiji and New Caledonia are the only nations in the Pacific where gold is mined, and discovery of gold in these nations dates back to the 19th century.
According to Lion One Metals, they have encountered the longest high-grade intercept yet, recorded at Tuvatu.
Lion One Metals chief executive officer Walter Berukoff said the new robust high-grade gold feeder mineralisation encountered represented a substantial discovery for the company.
“The notable high grades and continuity of mineralization of this intercept demonstrate Tuvatu’s potential to become a large-scale, high-grade underground gold mine,” he said.
“I have long encouraged our team to find that “gold room” at Tuvatu, and hole TUG-141 leads me to believe they have found it. We have only to look at other notable large alkaline gold deposits as direct analogues to better understand what this latest discovery tells us, and it is clear that the discovery of a major high-grade feeder such as this should be viewed as very promising.”
The new discovery is located at depth beneath the current resource fully within the permit boundaries of the Tuvatu mining lease.
This is good news for the company and also the landowners of the area where mining is taking place. The villages of Navilawa, Nagado and Korobebe share the land where Tuvatu Gold Mines is located.
So far the partnership between the landowners and the mines has been good. This discovery also holds the potential of improving thousands of lives.
Gold mining companies make significant contributions to host country government revenues. In many low-income developing countries, these taxes and royalties constitute a notable proportion of the national tax base, enabling both mining and non-mining areas to benefit from a country’s mineral endowment.
Lion One senior vice president of exploration, Sergio Cattalani, said the grades and continuity observed by the intercepts were of a magnitude not previously documented at Tuvatu, and highlighted the largely untapped potential of this deposit.
“The significance of having identified what may be a new principal feeder conduit for Tuvatu confirms the model that has driven this deep exploration program since the discovery,” he said.
“Our immediate priority is to follow up of this significant discovery with additional drilling in what remains a relatively poorly drilled portion of the Tuvatu system.”
There is excitement at the Tuvatu Gold Mines. The company is convinced of the potential of Tuvatu to become a prominent, multimillion ounce gold deposit at the top of the grade distribution worldwide.
The Tuvatu Gold Mine was given the go ahead for development by the Fijian Government in 2015 with approval of a mining lease.