Lomiko Receives Drill Permit for High-Grade Zone at La Loutre Flake Graphite Property
Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) and Canada Strategic Metals Inc. (“Strategic Metals””) (TSX.V: CJC; FSE: YXEN; OTC-BB: CJCFF) are very pleased to announce a drill permit has been received for a 2,000 metre, 25 drill hole program at the Refractory Zone of the La Loutre property.
Project Highlights
- On February 9th, 2016, Lomiko Metals and Canada Strategic announced a resource for the La Loutre Flake Graphite Property of 18.4 M Tonnes of 3.19% Cg Indicated and 16.7 M Tonnes at 3.75% Cg Inferred with a cut-off of 1.5%.
- The sensitivity table also features 4.1 M Tonnes of 6.5% Indicated and 6.2 M Tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%.
- The Resource is calculated on the Graphene-Battery Zone only and does not include high-grade intercepts of 31.50 13.09 Cg, 44.1 metres of 16.81% Cg, 110.8 metres of 14.56%, 22.3 metres of 17.08 Cg, 90.75 metres of 9% Cg reported from the Refractory Zone.
- The Refractory zone mineralization appears to be 200 metres wide, have a current strike length of over 400 metres in a north-west to south east direction and is open in both directions. Please review all results by clicking the link to the drill map.
- Lomiko currently owns 80% of the property and will be increase to 100% subject to an 2% NSR, issuance of 750,000 shares and completion of $ 1,125,000 work set out in a May 3rd, 2016 News release.
- The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28,67 km2) situated approximately 53 km east of Imerys Carbon and Graphite, formerly known as the Timcal Graphite Mine, North America’s only operating graphite mine, and 117 km northwest of Montreal.
2016 Refractory Zone Drill Results
| Hole # | From (m) | To (m) |
Length* |
Gp % | ||||
| LL-16-001 | 3.90 | 139.50 | 135.60 | 7.74 | ||||
| includes | 3.90 | 48.00 | 44.10 | 16.81 | ||||
| includes | 135.00 | 138.00 | 3.00 | 14.85 | ||||
| LL-16-002 | 3.90 | 26.20 | 22.30 | 17.08 | ||||
| includes | 113.9 | 129.00 | 15.10 | 14.80 | ||||
| LL-16-003 | 30.20 | 141.00 | 110.80 | 14.56 | ||||
| LL-16-004 | NSV | |||||||
| LL-16-005 | 55.80 | 57.40 | 1.60 | 13.35 | ||||
| LL-16-06 | 54.00 | 141.00 | 85.00 | 7.67 | ||||
| includes | 109.50 | 141.00 | 31.50 | 13.09 | ||||
| LL-16-007 | 52.50 | 115.80 | 63.30 | 8.51 | ||||
| includes | 69.00 | 85.50 | 16.50 | 15.75 | ||||
| LL-16-008 | 109.50 | 121.50 | 12.00 | 3.91 | ||||
| LL-16-009 | NSV | |||||||
| LL-16-010 | 31.20 | 45.00 | 13.80 | 4.14 | ||||
| 72.00 | 147.00 | 75.00 | 4.60 | |||||
* Length along the core. According to the Society, the true width of the drill hole represents between 80 % and 95 % along the core.
The drilling program at La Loutre will be managed by Consul-Teck Exploration of Val-d'Or, Quebec, who designed the drilling campaign, supervised the program and logged and sampled the core.
Consul-Teck Exploration 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 regularly 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 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 Carbon Graphite using C-IR18.
Jean-Sebastien Lavallée (OGQ #773), Geologist, is a shareholder of both companies, President and Chief Executive Officer of the Canada Strategic 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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180129005043/en/