Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce an update on its strategy to
further advance its regional exploration opportunities in the
Grenville graphite belt with the objective of developing a
sustainable and long-term natural flake graphite resource base that
can feed into the graphite market at large, and the regional market
for electric vehicles battery manufacturing.
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the full release here:
https://www.businesswire.com/news/home/20220516006014/en/
Figure 1 – New Lomiko Claims in relation
to La Loutre (Graphic: Business Wire)
Lomiko believes that early-stage development of this strategy,
combined with a current emphasis on metallurgical testing of its
flake graphite at La Loutre and a committed vision to work with the
Kitigan Zibi Anishinabeg (“KZA”) First Nation and local communities
is important to becoming a leader and operator of choice in the
region. At the same time, the Company is looking at opportunities
in the carbon offset market and carbon neutral mine planning.
Carbon offset projects include forestry, conservation, renewable
energy and community projects where every tonne of emissions
reduced by an environmental project creates one carbon offset or
carbon credit.
Belinda Labatte, CEO and director of Lomiko stated: “Our team is
keen to take on new opportunities in the region, around our La
Loutre property, as we develop the potential for natural flake
graphite via organic growth and acquisition. We plan to lead the
responsible development of regional graphite assets with community
and First Nations engagement, water management and stewardship
initiatives, and carbon offset projects that further advance our
carbon-neutral model of graphite development.”
The Company has staked approximately 14,255 hectares of mineral
claims, 236 claims in total, on six projects in the Laurentian
region of Quebec and within First Nations territory. These new
claims lie within a 100 km radius of the Company’s flagship La
Loutre graphite project and 28 claims are directly contiguous to La
Loutre, with the Company claim package now covering 4,528 hectares.
The highest graphite grades are commonly associated with rock
contacts between marble and paragneiss or quartzite which is the
host rock present in the Grenville Province and at La Loutre.
Large, disseminated natural flake graphite mineralization occurs at
a number of places in the Grenville Province metamorphic belt,
located in Canada’s Quebec and southeastern Ontario jurisdictions,
and the conglomeration of this mineralization in close proximity in
the region presents opportunities in the future for responsible and
low impact mining or quarry activities that are unique to this
region.
This regional exploration program will cover numerous
under-explored graphite showings primarily occurring within
paragneiss units of the Grenville geological belt. The claims
staked are largely accessible and situated close to road access and
qualify as early-stage greenfield exploration. Lomiko intends to
initiate exploration of these prospective graphite targets with
high definition airborne magnetic, and time-domain electromagnetic
surveys. This work will be followed by geological, prospecting, and
sampling surveys based on ground targets generated by the airborne
surveys. Lomiko will engage with communities and the KZA as this
work evolves. Please refer to Figure 1 for details.
Corporate development update
The Company continues to review other prospects for eventual
acquisition. Lomiko’s strategy is to create scale and a regional
approach for the exploration and development of natural flake
graphite as an operator of choice and this will include carbon
neutral mine planning and potential for carbon offset projects.
This strategy would serve to provide a long-term, sustainable and
responsible solution to provide flake graphite, and ultimately
anode-grade graphite, into the electric vehicle supply chain.
Investor conferences
All interested investors are encouraged to meet with management
in person at the Vancouver Resource Investment Conference (VRIC)
taking place in Vancouver on May 17th and 18th, and at PDAC in
Toronto from June 13th to 15th. Also, management will be presenting
at The Northern Miner’s virtual Global Mining Symposium on May
25th. More information is available on the Company’s website at
www.lomiko.com.
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy.
Lomiko represents a company with a purpose: a people-first company
where we can manifest a world of abundant renewable energy with
Canadian and Quebec critical minerals for a solution in North
America. Our goal is to create a new energy future in Canada where
we will grow the critical minerals workforce, become a valued
partner and neighbour with the communities in which we operate, and
provide a secure and responsibly sourced supply of critical
minerals.
The Company holds a 100% interest in its La Loutre graphite
development in southern Quebec. The La Loutre project site is
located within the Kitigan Zibi Anishinabeg (KZA) First Nations
territory. The KZA First Nations are part of the Algonquin Nation
and the KZA territory is situated within the Outaouais and
Laurentides regions. Located 180 kilometres northwest of Montreal,
the property consists of 1 large, continuous block with 76 minerals
claims totaling 4,528 hectares (45.3 km2). Lomiko Metals published
a Preliminary Economic Assessment (“PEA”) on September 10, 2021
which indicated the project had a 15-year mine life producing per
year 100,000 tonnes of the graphite concentrate at 95%Cg or a total
of 1.5Mt of the graphite concentrate. This report was prepared as
National Instrument 43-101 Technical Report for Lomiko Metals Inc.
by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose
Mountain Technical Services, and Metpro Management Inc.,
collectively the Report Authors. The Bourier project site is
located near Nemaska Lithium and Critical Elements south-east of
the Eeyou Istchee James Bay territory in Quebec which consists of
203 claims, for a total ground position of 10,252.20 hectares
(102.52 km2), in Canada’s lithium triangle near the James Bay
region of Quebec that has historically housed lithium deposits and
mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person (“QP”)
under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, has reviewed and approved the technical
disclosure in this news release.
For more information on Lomiko Metals, review the website at
www.lomiko.com, contact Belinda Labatte at 647-402-8379 or email:
info@lomiko.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of the applicable Canadian securities legislation that
is based on expectations, estimates, projections and
interpretations as at the date of this news release. The
information in this news release about the Company; and any other
information herein that is not a historical fact may be
"forward-looking information" (“FLI”). All statements, other than
statements of historical fact, are FLI and can be identified by the
use of statements that include words such as "anticipates",
"plans", "continues", "estimates", "expects", "may", "will",
"projects", "predicts", “proposes”, "potential", "target",
"implement", “scheduled”, "intends", "could", "might", "should",
"believe" and similar words or expressions. FLI in this new release
includes, but is not limited to: the Company’s objective to become
a responsible supplier of critical minerals, exploration of the
Company’s projects, including expected costs of exploration and
timing to achieve certain milestones, including satisfactory
completion of due diligence and ability to reach an agreement with
third party owners in connection with projected acquisitions,
timing for completion of exploration programs; the Company’s
ability to successfully fund, or remain fully funded for the
implementation of its business strategy and for exploration of any
of its projects (including from the capital markets); any
anticipated impacts of COVID-19 on the Company’s business
objectives or projects, the Company's financial position or
operations, and the expected timing of announcements in this
regard. FLI involves known and unknown risks, assumptions and other
factors that may cause actual results or performance to differ
materially. This FLI reflects the Company’s current views about
future events, and while considered reasonable by the Company at
this time, are inherently subject to significant uncertainties and
contingencies. Accordingly, there can be no certainty that they
will accurately reflect actual results. Assumptions upon which such
FLI is based include, without limitation: potential of future
acquisitions presently evaluated by the Company; current market for
critical minerals; current technological trends; the business
relationship between the Company, local communities and its
business partners; ability to implement its business strategy and
to fund, explore, advance and develop each of its projects,
including results therefrom and timing thereof; the ability to
operate in a safe and effective manner; uncertainties related to
receiving and maintaining exploration, environmental and other
permits or approvals in Quebec; any unforeseen impacts of COVID-19;
impact of increasing competition in the mineral exploration
business, including the Company’s competitive position in the
industry; general economic conditions, including in relation to
currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified
in their entirety by this cautionary statement, the
“Forward-Looking Statements” section contained in the Company’s
most recent management’s discussion and analysis (MD&A), which
is available on SEDAR at www.sedar.com, and on the investor
presentation on its website. All FLI in this news release are made
as of the date of this news release. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update or revise any such forward-looking statements
or forward-looking information contained herein to reflect new
events or circumstances, except as may be required by applicable
securities laws.
Neither the 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 news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko
Metals Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220516006014/en/
For more information, please contact:
Kimberly Darlington Investor Relations, Lomiko Metals Inc.
k.darlington@lomiko.com 514-771-3398
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