Lion One Metals to Build Hybrid Solar Power Plant for the Tuvatu Gold Project in Fiji
TSX VENTURE: LIO
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.
On behalf of the Board of Directors of Lion One Metals Limited
Chairman & CEO
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