Lion One targets reliability, growth at Fiji gold mine after March operational update

Lion One Metals Limited said it is prioritising operational reliability and disciplined execution at its Tuvatu gold mine in Fiji, as it advances development and infrastructure upgrades to support sustained production.

The Canada-based company reported that during March 2026, the mine achieved an average mill feed grade of about 4.97 grams per tonne of gold, above its budget of 4.65 g/t, while gold output tracked close to plan. Week 12 production reached 306 ounces, compared with a budget of 308 ounces.

Development performance improved toward the end of the month, with total development reaching 102% of plan and jumbo development at 135%. However, throughput remained below expectations due to equipment availability and power reliability constraints.

The company said improving equipment performance and stabilising power supply are central priorities for 2026. Measures include commissioning new underground loaders, refurbishing generators, upgrading the high-voltage network and enhancing performance at the Waimilika solar installation.

Lion One has also reinstated an approval for expenditure process to prioritise capital and maintenance spending linked to these reliability initiatives.

On the growth front, the company is advancing several projects to support medium-term production and operational resilience. These include the Stage 2B expansion of the tailings storage facility, development of a flotation circuit, and installation of an evaporation system.

Geological work is ongoing, with drilling continuing across key vein systems and additional rigs deployed. The western decline has reached the URA vein system, with ore development under way, opening a new production front.

For the coming quarter, Lion One aims to improve underground equipment availability, strengthen power reliability, deliver key infrastructure projects on schedule, and expand development across multiple high-grade zones.

Separately, the company said it has entered into a six-month investor relations agreement with Alliance Advisors Canada Corp., at a monthly fee of C$15,000, to support investor engagement and communications in North America.