Lion One Releases NI 43-101 Mineral Resource Estimate for Olary

Lion One Metals Ltd. (TSXV:LIO,OTCQX:LOMLF) announced the results of the initial NI 43-101 mineral resource estimate for its South Australia-based Olary iron ore project.

Highlights include indicated mineral resources of 214 million tonnes at 26.3-percent iron and inferred mineral resources of 296 million tonnes at 26.4-percent iron.

As quoted in the press release:

The estimate is based on assay results from 55 diamond and reverse circulation drill holes totalling 16,281 meters drilled on the northern end of the target zone on the Olary Property. Iron mineralization on the Olary Creek Property is related to ironstones of the Braemar Iron Formation, a regional magnetite belt extending approximately 180 km through eastern South Australia. To-date only one-third of the 7km strike length of the Olary iron target zone has been drilled and the deposit remains open for expansion.

Click here to read the full Lion One Metals Ltd. (TSXV:LIO,OTCQX:LOMLF) press release.