(MENAFN - Newsfile Corp) Lion One to Build Hybrid Solar Power Plant for the Tuvatu Gold Project in Fiji
North Vancouver, British Columbia--(Newsfile Corp. - February 4, 2019) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to announce a partnership with Swiss-based clean energy provider the meeco Group ("meeco") to build and install a hybrid solar / diesel power plant for the Company's 100% owned and fully permitted Tuvatu Gold Project, located on the island of Viti Levu in the Fiji Islands. Lion One will be a 50% shareholder of a Special Project Vehicle (SPV) through an agreed buy-in structure.
Lion One will use meeco's 7 MW peak "sun2live" solar power generation system coupled with diesel generators to generate up to 11 MW peak power production providing a continuous 24-hour source of power for the Tuvatu gold mine and processing plant. The installation will be built on 4.1 hectares of unused land 3.5 km from the Tuvatu Gold project and 17 km from the Nadi International Airport.
The new eco-friendly solar power system will have an estimated annual energy production of approximately 10.31GWh displacing more than 6,000 tonnes of CO2 emissions per year.
"We are excited to partner with meeco to build a clean solar energy solution for powering the Tuvatu Gold Project", said Lion One Managing Director Stephen Mann. "meeco has a solid track record of installing and operating solar hybrid power plants world-wide. This hybrid system will not only reduce our carbon footprint, but will enable Lion One to meet our power capacity requirements while significantly reducing fuel consumption and operating costs for the Tuvatu Gold Project."
About Lion One
Lion One Metals Limited is a Canadian exploration and development company focused on advancing its 100% owned and fully permitted Tuvatu Gold Project towards production. Lion One envisions a low-cost high grade underground gold mining operation with district-scale exploration upside, located near the Nadi International Airport on the island of Viti Levu in the South Pacific island nation of Fiji.
Additional information about Lion One including NI 43-101 technical reports for the Tuvatu Gold Project is available at www.liononemetals.com and at www.sedar.com .
On behalf of the Board of Directors of Lion One Metals Limited
Chairman & CEO
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
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This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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