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Lomiko Metals Inc (2)
Symbol LMR
Shares Issued 75,005,191
Close 2019-04-23 C$ 0.065
Recent Sedar Documents

Lomiko drills 87.9 m of 7.14% Cg at Loutre

2019-04-23 12:34 ET - News Release

Also News Release (C-CJC) Quebec Precious Metals Corp

Mr. Paul Gill of Lomiko Metals reports

LOMIKO METALS AND QUEBEC PRECIOUS METALS REPORT INTERCEPT OF 87.9 M OF 7.14% INCLUDING 21.0 M OF 15.48% FLAKE GRAPHITE FROM LA LOUTRE

Lomiko Metals Inc. and Quebec Precious Metals Corp. have released the results from the first exploration diamond drill hole received from the 2019 program (see attached table) at the Refractory zone of the La Loutre graphite project. A total of 21 holes were completed at the Refractory zone for a total of 2,800 metres. The results from remaining 20 holes will be reported as they are received and compiled. Lomiko currently owns 80 per cent of the project.

"We are impressed with the size and grade of the Refractory zone. It has exceeded our expectations," commented A. Paul Gill, chief executive officer of Lomiko.

 RESULTS OF THE FIRST HOLE OF THE 2019 DRILL PROGRAM
    
Hole ID                  Mineralization        
             From (m)   To (m)   Interval (m)   Cg (%) 
  
LL-19-16        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 

The drill campaign focuses on the Refractory zone. An independent National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, technical report dated March 24, 2016, and prepared by B. Turcotte and G. Servelle of InnovExplo Inc. of Val d'Or, Que., and O. Peters of AGP Mining Inc., was filed for the project's Graphene-Battery zone. The report presented a mineral resource estimate of 18.4 million tonnes at a grade of 3.19 per cent carbon flake graphite (Cg) in the indicated category and 16.7 million tonnes at 3.75 per cent Cg in the inferred category using a cut-off of 1.5 per cent Cg. The project also includes several other untested anomalies.

The drill hole intercept is approximately 450 metres southeast from high-grade intercepts drilled in 2017: 7.74 per cent Cg over 135.6 metres, including 16.81 per cent Cg over 44.1 metres, from LL-16- 01; and 14.56 per cent Cg over 110.8 metres from LL-16-03. Both holes are located at the Refractory zone.

On the basis of the available geophysical and 2016 drilling data, the strike length of the mineralization is estimated at 900 metres in the northwest-southeast 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 totalling 29 square kilometres situated approximately 53 kilometres east of Imerys's carbon and graphite operation, formerly known as the Timcal graphite mine, North America's only operating graphite mine, and located 117 kilometres northwest of Montreal.

The 2019 exploration program is managed by Consul-Teck Exploration of Val d'Or, Que., which designed the drilling campaign, supervised the program, and logged and sampled the core.

Quality assurance/quality control

Consul-Teck Exploration implemented quality assurance/quality control procedures to ensure best practices in the 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 and 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, Que. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70 per cent minus two millimetres, then separated and pulverized to 85 per cent passing 75 microns. All samples are analyzed for carbon graphite using the C-IR18 method.

Qualified person

Jean-Sebastien Lavalleie (OGQ No. 773), geologist, is a shareholder of both companies, vice-president of exploration at Quebec Precious Metals and a qualified person under NI 43-101. Mr. Lavalleie has reviewed and approved the technical content of this release.

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