Lomiko Metals and Quebec Precious Metals report multiple 100 m+ intercepts and multiple 10%+ Cg Zones at La Loutre Flake Gra...
July 09 2019 - 7:00AM
Lomiko Metals Inc. (TSX-V:LMR, OTC:LMRMF, FSE:DH8C)
(Lomiko or the “Company”) and Quebec Precious Metals
Corporation (TSX.V:CJC, FSE:YXEP, OTC-BB:CJCFF) (“QPM”) are pleased
to announce the results from the remaining 16 exploration diamond
drill holes received from the 2019 program (see Table 1 below, and
Figure 1) at the Refractory Zone of the La Loutre graphite project
(the “Project”). A total of 21 holes were completed on the
Refractory Zone for a total of 2,985 metres. The Project
is owned by Lomiko (80%) and QPM (20%).
“La Loutre has proven to be a large and high-grade area
worthy of further investment.” stated A. Paul Gill, CEO.
“The only operating graphite mine in North America is the Imerys
Graphite & Carbon at Lac-des-Îles, 53 km northwest of La Loutre
which reported Proven reserves of 5.2 M Tonnes at a grade of 7.42 %
Cg in July 1988 before the start of production.” (reference:
Potentiel de la minéralisation en graphite au Québec, N’Golo
Togola, MERN, page 31, Conférence Québec Mines, November 24
2016).
Although the current focus is on the Refractory Zone, the
Project was also subject of an independent technical report in
accordance with NI 43-101 - Standards of Disclosure for Mineral
Projects, prepared by B. Turcotte and G. Servelle of
InnovExplo Inc. from Val-d’Or, Québec, and O. Peters, of
AGP Mining Inc., dated March 24, 2016, filed for
the Project’s Graphene-Battery Zone. The report presented a mineral
resource estimate of 18.4 M Tonnes at a grade of 3.19% carbon
flake graphite (“Cg”) in the Indicated category and 16.7 M Tonnes
at 3.75% Cg in the Inferred category using a cut-off of
1.5% Cg.
The above-noted 2016 mineral resource does not include the
current results or the intercepts from the Refractory Zone in 2016
which were as follows:
LL-16-01 - 7.74% Cg over 135.60 m
including 16.81% Cg over 44.10 m
LL-16-02 - 17.08% Cg over 22.30 m
and 14.80% Cg over 15.10 m
LL-16-03 - 14.56% Cg over 110.80
m
The next task is to complete a new resource estimate in
compliance with NI 43-101 for the entire Project including the 36
new drill holes completed since the above-mentioned 2016 resource
estimate.
Table 1: Results of the 21 drill holes of the 2019 drill
program. The width is drill indicated core length. Insufficient
data exists to determine true width at this time.
Hole ID
# |
UTM E |
UTM N |
Azimuth |
Dip |
Mineralization |
Gp % |
From(m) |
To(m) |
Interval (m) |
LL-19-01 |
499426 |
5098072 |
66.7 |
-50 |
3.00 |
10.50 |
7.50 |
18.85 |
|
109.50 |
213.00 |
103.50 |
9.89 |
Including: |
109.50 |
177.00 |
67.50 |
13.89 |
LL-19-02 |
499364 |
5098071 |
62.1 |
-50 |
114.80 |
117.00 |
2.20 |
8.62 |
LL-19-03 |
499515 |
5097977 |
55.6 |
-50 |
43.90 |
174.00 |
130.10 |
3.73 |
Including: |
106.50 |
162.90 |
56.40 |
4.97 |
LL-19-04* |
499567 |
5098041 |
65.9 |
-50 |
3.00 |
93.00 |
90.00 |
2.75 |
LL-19-05 |
499562 |
5097944 |
56.3 |
-50 |
100.50 |
148.50 |
48.00 |
2.70 |
LL-19-06 |
499614 |
5097980 |
63.3 |
-50 |
5.50 |
30.00 |
24.50 |
6.81 |
|
52.50 |
70.30 |
17.80 |
4.89 |
LL-19-07 |
499644 |
5098001 |
66.1 |
-50 |
6.00 |
84.00 |
78.00 |
2.31 |
LL-19-08 |
499630 |
5097931 |
57.3 |
-50 |
55.50 |
109.50 |
54.00 |
2.73 |
LL-19-09 |
499654 |
5097957 |
63.1 |
-50 |
27.60 |
86.50 |
58.90 |
8.05 |
|
51.00 |
86.50 |
35.50 |
9.94 |
LL-19-10 |
499587 |
5097909 |
62.9 |
-50 |
102.00 |
108.00 |
6.00 |
3.54 |
LL-19-11 |
499687 |
5097903 |
75.1 |
-50 |
90.00 |
108.00 |
18.00 |
4.42 |
Including: |
100.50 |
105.00 |
4.50 |
10.10 |
LL-19-12 |
499641 |
5097888 |
69.1 |
-50.00 |
93.00 |
124.50 |
31.50 |
1.26 |
LL-19-13 |
499669 |
5097837 |
56.8 |
-50 |
81.00 |
90.00 |
9.00 |
6.35 |
|
106.50 |
136.50 |
30.00 |
1.19 |
LL-19-14* |
499700 |
5097803 |
59.7 |
-50 |
80.70 |
99.00 |
18.30 |
4.43 |
LL-19-15*
|
499751 |
5097832 |
64.8 |
-50 |
51.00 |
167.90 |
116.90 |
4.80 |
Including: |
152.70 |
167.90 |
15.20 |
18.04 |
LL-19-16** |
499851 |
5097829 |
66.5 |
-50 |
4.10 |
92.00 |
87.90 |
7.14 |
Including: |
70.50 |
91.50 |
21.00 |
15.48 |
|
132.00 |
160.50 |
28.50 |
3.86 |
LL-19-17* |
499894 |
5097804 |
78.2 |
-50 |
15.00 |
62.30 |
47.30 |
7.56 |
Including: |
51.00 |
62.30 |
11.30 |
17.45 |
|
96.00 |
126.00 |
30.00 |
1.96 |
LL-19-18 |
499919 |
5097767 |
69.6 |
-50 |
3.00 |
36.20 |
33.20 |
3.50 |
|
43.70 |
60.00 |
16.30 |
12.38 |
|
69.80 |
72.00 |
2.20 |
12.38 |
LL-19-19 |
499792 |
5097791 |
63.2 |
-50 |
55.50 |
166.50 |
111.00 |
4.93 |
Including: |
55.50 |
84.00 |
28.50 |
3.40 |
Including: |
110.50 |
166.60 |
56.10 |
7.47 |
Including: |
145.50 |
166.50 |
21.0 |
15.69 |
LL-19-20 |
499839 |
5097766 |
69.5 |
-50 |
34.30 |
40.50 |
6.20 |
4.07 |
|
97.50 |
115.50 |
18.00 |
2.18 |
|
118.30 |
124.10 |
5.80 |
16.00 |
LL-19-21 |
499857 |
5097726 |
52.9 |
-50 |
96.00 |
104.60 |
8.60 |
2.85 |
* Results announced in May 6, 2019 press release.
** Results announced in April 24, 2019 press release.
On the basis of the available geophysical and 2016
drilling data, the strike length of the mineralization is estimated
at 900 m in the NW-SE direction and is open in both
directions. A detailed interpretation of the results
will be carried out to better estimate the thickness and strike
length of the mineralized zone.
The Project consists of contiguous claim blocks totaling 29 km2
situated approximately 53 km NW of the Lac-des-Îles mine, formerly
known as the Timcal mine, North America’s only operating graphite
mine. It is accessible by driving NW from Montreal for a distance
of approximately 170 kilometres.
The 2019 exploration program is managed by Consul-Teck
Exploration Minière Inc. (“Consul- Teck”) of Val-d'Or, Quebec,
who designed the drilling campaign, supervised the program and
logged and sampled the core.
Quality Assurance/Quality Control
Consul-Teck implemented QA/QC procedures to ensure best
practices in sampling and analysis of the core samples. The drill
core was logged and then split, with one half sent for assay and
the other retained in the core box as a witness sample. Duplicates
and blanks were inserted at a regular interval into the sample
stream.
The samples in secure tagged bags were delivered directly
to the analytical facility for analysis. In this case, the
analytical facility was the ALS Minerals laboratory facility in
Val-d'Or, Quebec. The samples are weighed and identified
prior to sample preparation. The samples are crushed to 70% minus 2
mm, then separated and pulverized to 85% passing 75µm. All samples
are analyzed for Cg using the C-IR18 method.
Qualified Person
Jean-Sébastien Lavallée (OGQ #773), Geologist, is
a shareholder of both companies, VP Exploration of QPM and a
Qualified Person under NI 43-101, has reviewed and approved the
technical content of this release.
For more information on Lomiko Metals, review the website
at www.lomiko.com, contact A. Paul Gill at 604-729-5312
or email: info@lomiko.com.
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release
- Refractory zone location composite map 20190709 (eng)
- drill core 2
A. Paul Gill
Lomiko Metals Inc. (TSX-V: LMR)
6047295312
apaulgill@lomiko.com
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