24 October 2017
("Lionsgold", "LION" or the "Company")
Pilot Plant Testing Approval Received
Lionsgold, the gold-focused exploration company with assets in India and Finland, and a fintech subsidiary that provides online accounts for holding physical gold, is pleased to provide an update regarding its Finnish incorporated joint venture ("JV") operating company, Kalevala Gold Oy ("Kalevala"), which holds more than 300km2 under licence in the Suomussalmi region of eastern Finland, including the Kuikka gold deposit.
Kalevala has now received government permission for an initial 200 tonne test ore sample from Kuikka which is planned to be carried out in November. The sample will assist in the optimisation of the pilot plant recovery and operating procedures for the 5,000 tonne bulk sampling programme which is planned but still subject to government approval.
Cameron Parry, Lionsgold CEO, commented: "Further to our announcement dated 5 October, we are pleased to report that Lionsgold"s JV company Kalevala has received government approval to carry out testing of our processing equipment on 200 tonnes of gold ore from the Kuikka project.
"This is an important precursor to the 5,000 tonnes bulk sampling campaign that is planned at Kuikka, subject to government environmental permission being granted for bulk sampling in due course."
For further information, please visit www.lionsgold.com or contact:
Cameron Parry (Chief Executive Officer)
Luke Cairns (Executive Director)
Tel: +44 (0)20 3778 0578
WH Ireland Limited (Nominated Adviser)
Tim Feather / Ed Allsopp
Tel: +44 (0)113 394 6600
Smaller Company Capital Limited (Joint Broker)
Rupert Williams / Jeremy Woodgate
Tel: +44 (0)20 3651 2911
Beaufort Securities Limited (Joint Broker)
Tel: +44 (0)20 7382 8300
Tavistock (Financial PR)
Tel: +44 (0) 207 920 3150