Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce that it has completed its infill
and extension exploration drilling program at its wholly-owned La
Loutre graphite project, located within the Kitigan Zibi
Anishinabeg (KZA) First Nations territory within the Outaouais and
Laurentides regions, 180 kilometers northwest of Montreal.
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the full release here:
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Figure 1. EV Zone Drill Map (Graphic:
Business Wire)
The comprehensive drill program featured 79 holes totaling
13,113 metres drilled; 53 of these, totaling 9,037 metres, were
drilled in the Electric Vehicles (“EV”) Zone and 26 holes totaling
4,076 metres were drilled in the Battery Zone. The Company is
awaiting further assay results which will be shared when
available.
The Preliminary Economic Assessment (PEA) for the La Loutre
project confirmed that the EV and Battery Zones are sources of
material that, when processed, would yield concentrated graphite of
high purity over 95% graphitic carbon (Cg) (see press release of
July 29, 2021 for more details). The objective of the 2022
exploration campaign was to better understand the extent and
quality of the deposit and provide the required inputs for a
pre-feasibility study.
Lomiko Metals thanks Breakaway Exploration Management of Québec
for the supervision and operation of the 2022 exploration drilling
program at the La Loutre project and ensuring compliance with
ECOLOGO specifications. Lomiko also advises that it maintained its
obligations to ensure departure before the seasonal hunting that
occurs on the northern end of the claim. Lomiko has retained
InnovExplo Consulting and Engineering to prepare an updated
NI-43-101 resource estimate for the La Loutre project following the
completion of the drilling and assay results receipt.
Please refer to Figure 1 and 2 for details.
Qualified Person
The technical content presented in this press release was
reviewed by Mark Fekete, P.Geo. 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.
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. Lomiko is ECOLOGO certified.
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 July 29, 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.
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/20220913006281/en/
Kimberly Darlington Investor Relations, Lomiko Metals Inc.
k.darlington@lomiko.com 514-771-3398
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