Canadian gold producer Lion One Metals Ltd. reported a record quarterly gold delivery of 4,678 ounces from its Tuvatu Gold Mine in Fiji, supported by higher production and improved mill throughput in the three months to September.
The company said on Tuesday that it recovered 3,796oz of gold from mill operations during the quarter ended September 30, up 15 per cent from 3,291oz in the previous quarter and 39 per cent from the quarter ended March 31.
A further 882oz came from the drawdown of gold held in the processing circuit and shipments of gold-bearing carbon for off-site processing, bringing total quarterly gold production to 4,678oz.
The average head grade was 4.3 grams of gold per tonne, while gold recovery reached 83.8 per cent. The mill processed 32,588 tonnes of mineralised material, with utilisation averaging 95.1 per cent.
Lion One said mill utilisation reached 97.4 per cent in August and 98.3 per cent in September, marking consecutive monthly records.
The increased throughput helped offset a slight decline in recovery from the previous quarter’s 84.9 per cent. Average head grade remained unchanged at 4.3 grams per tonne.
Underground development and safety
The company completed 1,539 metres of underground mine development during the quarter, including 359m of capital development and a record 1,181m of operating development.
Although development was down from 1,660m in the previous quarter, it remained above the long-term quarterly average of 1,445m recorded between January 2025 and September 2026.
Lion One said equipment availability affected capital development, with underground drilling jumbos available for 59 per cent of the quarter, partly because of unplanned downtime in September.
The company recorded one lost-time incident and two medical-aid incidents during the quarter. Its total recordable incident frequency rate improved to 1.83 incidents per 200,000 hours worked, compared with 4.37 in the previous quarter and 6.55 in the first quarter.
New underground drill begins operation
Lion One also confirmed that its new Boart Longyear LM90 underground core drill had arrived at Tuvatu ahead of schedule and entered operation following operator training.
The drill will target the Zone 500 and West Zone from underground to support resource expansion and upgrades.
The company said the equipment would allow shorter, faster and lower-cost drill holes, with improved intersection angles in both areas.
The addition brings Lion One’s active drilling fleet to four underground drills and two surface drills.
Lion One, headquartered in North Vancouver, British Columbia, began operations at its wholly owned Tuvatu project in Fiji in late 2023. The project includes the underground gold mine, a pilot plant and an assay laboratory, while the company holds an exploration licence covering the wider Navilawa Caldera.
The latest results are preliminary operating figures. The company said its technical information had been reviewed and approved by William J. Witte, its principal adviser and qualified person under Canadian mineral project disclosure rules.
