00:02:39 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Lomiko Metals Inc (2)
Symbol LMR
Shares Issued 238,101,546
Close 2022-09-28 C$ 0.035
Market Cap C$ 8,333,554
Recent Sedar Documents

Lomiko Metals drills 120 m of 11.02% Cg at La Loutre

2022-09-28 13:18 ET - News Release

Ms. Belinda Labatte reports

LOMIKO ANNOUNCES THE THIRD ROUND OF ANALYTICAL RESULTS FROM THE INFILL AND EXTENSION EXPLORATION DRILL PROGRAM AT LA LOUTRE GRAPHITE PROPERTY, DRILLING WIDE HIGH-GRADE INTERSECTIONS AT 11.02% CG OVER 120M AT THE NORTHERN END OF EV ZONE

Lomiko Metals Inc. has released the third round of analytical results from the infill and extension exploration drill program at its wholly owned La Loutre graphite property, located approximately 180 kilometres northwest of Montreal in the Laurentian region of Quebec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Quebec-based independent geological consultant Breakaway Exploration Management Inc. and was operated under Ecologo requirements and compliance protocols, as Lomiko is Ecologo certified. Please see the press release issued on March 23, 2022, for more details about Lomiko's Ecologo certification.

Belinda Labatte, chief executive officer and director, stated: "Our team is very excited to see that the results from the 14 holes drilled at the northern end of the EV zone in 2022 demonstrate strong graphite mineralization over significant widths. Many holes intersected high grades over 110- to 120-metre intervals. The number of holes confirms the potential of this area for additional graphite resources. We look forward to more results in the next 21 holes in the EV zone which will be released as more assays are received. Our vision is to become a responsible operator and part of a climate success story in southern Quebec."

Highlights:

  • First initial drill results from the northern part of EV zone show very thick mineralization zones with high grades in eight out of 10 mineralized holes;
  • Several wide intervals of near-surface high-grade flake graphite mineralization, including 11.02 per cent carbon graphite (Cg) over 120.00 metres (m) from 32.0 to 152.0 m in hole LL-22-032, including 48.0 m at 15.58 per cent Cg from 50.0 to 98.0 m;
  • Second best result of 8.73 per cent Cg over 110.5 m from 81.5 to 192.0 m in hole LL-22-019, including 69.0 m at 12.09 per cent Cg from 102.5 to 171.5 m;
  • Numerous intersections remain open; additional assay results pending, including holes LL-22-022, -024, 025, -026, -029, -030, -032 and -033;
  • Northeastern limit of graphite mineralization defined with holes LL-22-27 and LL-22-028;
  • EV zone shows a robust trend and remains open to the northwest in holes LL-22-019 and LL-22-022.

The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive preliminary economic assessment for the La Loutre project as announced in the company's July 29, 2021, press release. Lomiko has retained InnovExplo Inc., a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated National Instrument 43-101-compliant resource estimate for the La Loutre project following the completion of the 2022 drill program.

The assay results reported in this press release are for the 14 holes drilled at the north end of the EV zone. These holes were drilled to determine the northern extent of the graphite mineralization, confirm the results of the previous drilling and provide better detail of the EV zone in this part of the deposit. These results are in addition to the assay results for 18 holes announced in Lomiko's press releases dated Sept. 6, 2022, and Sept. 20, 2022.

On the northeast side of the EV zone, holes LL-22-011, -013, -026, -027 and -28 were drilled entirely or mostly in quartzite and encountered no or very narrow graphite mineralization within narrow paragneiss bands within the quartzite. The lack of significant graphite in these holes effectively defines the northeastern limit of the EV zone.

Wide intervals of high-grade to moderate-grade graphite were encountered in holes LL-22-016, -019, -022, -024, -025, -030, -032 and -033 and narrow moderate-grade intervals in LL-22-029 and -30 within paragneiss. Exceptional intervals of near-surface high-grade flake graphite mineralization include 11.02 per cent graphitic carbon over 120.0 metres from 32.0 to 152.0 m in hole LL-22-032 and 8.73 per cent Cg over 110.5 m from 81.5 to 192.0 m in hole LL-22-019. These impressive intersections define a strong graphite trend and indicate that the EV zone has excellent potential to continue to the northwest. Additional sampling has been done and assays are pending to fully close these intervals.

Qualified person

The technical content presented in this press release was reviewed by Mark Fekete, PGeo, who actively participated in the La Loutre drill program as an independent consultant to the company as the qualified person as that term is defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

QA/QC (quality assurance/quality control) and analytical procedures

The drill core was logged and marked for sampling by a professional geologist. All the core was photographed as part of the logging procedure. Core samples were collected by splitting each sample interval in half lengthwise with a hydraulic core splitter. One-half of the interval was returned to the core box and the other half was placed in a plastic bag with a tag. The tag number was marked in indelible ink on the outside of the bag and the bag was sealed with a plastic tie wrap. One certified reference material standard and one blank were included in each batch of 21 samples. For shipping, samples were placed in rice bags that were individually sealed with numbered tamper-proof security tags. The rice bags were then placed on wooden pallets, secured with plastic wrapping and delivered by truck to Manitoulin Transport Inc. for shipping to Activation Laboratories Ltd. (Actlabs) in Ancaster, Ont.

At Actlabs, the samples were crushed to 80 per cent passing two millimetres (mm) and then riffle split to a 250-gram subsample that was pulverized to pulp 95 per cent passing 105 micrometres (Actlabs code RX1). The sample pulps were then analyzed for graphitic carbon by mild hydrochloric acid digestion, followed by combustion in an infrared induction furnace (Actlabs code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the company.

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where people can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Its goal is to create a new energy future in Canada where it will grow the critical minerals work force, become a valued partner and neighbour with the communities in which it operates, and provide a secure and responsibly sourced supply of critical minerals.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.