Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce the fifth round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec.
Belinda Labatte, CEO and Director stated: “I am happy to see that the results from the last eleven holes drilled on EV zone in 2022 are in line with the results we announced in previous press releases. These results show significant mineralization over large intervals, including LL-22-044 with 7.60% Cg over 119.8m from 81.2 to 201m, consistent with previous results. The wide intervals encountered in 8 of the 11 holes further validate the continuity and the quality of the mineralization in the EV zone. We look forward to receiving the results from the 26 holes completed over the Battery Zone in August and September.”
Highlights
- Intersecting high-grade graphite values and significant widths
- 8 out of 9 (11 holes total) intersected significant mineralization with two holes abandoned and redrilled due to challenging environmental conditions
- Up to 7.60% Cg over 119.8m from 81.2 to 201m in hole LL-22-044 including 10.06% Cg over 40.5m from 81.2m to 121.7m and 10.31% Cg over 19.5m from 166.7 to 186.2m
- Hole LL-22-045 encountered 5.83% Cg over 27m from 204.0 to 231.0m including 19.5 meters at 7.63% Cg from 211.5 to 231.0m at 7.63% Cg
- Hole LL-22-050 encountered 5.07% Cg over 123.0 m from 13.0 to 136.0m including 14.5% Cg over 22.5m from 14.5 to 37.0m.
- Holes LL-22-044, LL-22-045, LL-22-046, LL-22-049, LL-22-051 and LL-22-052 all bottomed in mineralization
- Graphite intervals in 8 of 9 holes remain open; additional assay results pending
The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022 for more details about Lomiko’s ECOLOGO certification.
The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive Preliminary Economic Assessment (“PEA”) for the La Loutre project as announced in the Company’s July 29, 2021, press release. Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program. The assay results reported in this press release are for eleven holes drilled at the central section of the EV Zone. These holes were drilled to confirm results of the previous drilling and provide better detail of the EV Zone in this part of the deposit. Please refer to Table 1 for the weighted average graphitic carbon-bearing drill intersections (not true thickness) and Table 2 and Figure 1 for the collar locations referred to in this press release.
Significant intervals of graphite mineralization were intersected in 8 of the 11 holes. The best intersection was 7.60 percent graphitic carbon (“% Cg”) over 119.8 metres (“m”) from 81.2 to 201m in hole LL-22-044 including 10.06% Cg over 40.5m from 81.2m to 121.7m. Graphite intervals intersections in holes LL-22-45, -046, -047 and -050 remain open with additional assay results pending. Holes LL-22-044, -045, -046, -049, -051, -052 all bottomed in mineralization. Four other holes were planned for this area but could not be drilled due to difficult terrain or ground being too swampy, or soft conditions that prevented access.
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