Lomiko announces excellent results from the La Loutre graphite single-layer Phase 2 pouch cell battery testing and suitability as battery anode material and company update on Bourier
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Lomiko announces excellent results from the La Loutre graphite single-layer
Phase 2 pouch cell battery testing and suitability as battery anode material
and company update on Bourier
Montreal, Quebec – April 1, 2024 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce it has successfully completed Phase 2 of the single-layer
pouch cell battery testing of its La Loutre graphite material with Polaris Battery Labs, LLC
(“Polaris”). In Phase 1, Polaris completed half-cell coin battery testing, confirming good material
electrochemical performance metrics compared to industry standards. (please see press release
dated January 10, 2024.)
In Phase 2, cathode and prepared anode were combined into a single -layer pouch cell format to
undergo electrochemical testing to demonstrate technical performance as a full rechargeabl e
battery. Note that the single -layer pouch cells provide a format that is similar to those used in
industry while not requiring large amounts of active material. The coated spherical graphite
material (eSPG)) provided for the originated from coated purified samples generated by the Corem
Innovation Centre in Que bec, Canada. These samples were micronized and spheronized by
ProGraphite in Germany. The samples are deemed representative of the La Loutre deposit.
The single-layer pouch cells constructed with our graphite anode and standard cathode material
demonstrated that our graphite performs well under basic test conditions : cSPG16 and cSPG20
samples from La Loutre reveal strong performance of the La Loutre cSPG with better discharging
capacity compared to commercial graphite in North America today. Both samples were put
through a brief life cycle analysis for 25 cycles at C/2 and performed well. Please see highlights
of the study below.
Concurrent with these studies, Lomiko is also working on the “NRC Study” announced on July
27, 2023, which aims to advance pre-feasibility level battery trials with its La Loutre natural flake
graphite concentrate.
Belinda Labatte, CEO and Interim Chair of the Board, stated: “With the growing number of OEMs
focused on lithium -ion batteries, graphite material testing needs to resemble real- life usage
conditions. Lomiko has completed a number of metallurgical and electrochemical performance
tests and will continue this process with National Research Council in 2024 and 2025. The Polaris
studies, now concluded, confirm the electrochemical performance results are suitable for graphite
anode materials and battery manufacturing. Lomiko has now successfully demonstrated the full
value chain from ore to battery anode material on samples from the La Loutre project.
The importance of natural flake graphite supply was once again delineated with the Biden
Administration announcement on March 20, 2024: by 2032, more than half the new cars sold in
the United States would likely be zero-emissions vehicles in order for carmakers to meet the new
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standards for tailpipe pollution reduction. These zero -emission vehicles today require
approximately 100 kg of graphite per vehicle. ”
Polaris Single Layer Pouch Cell Study
Pictures of the pouch cells made with Lomiko cSPG are shown pictured in Figure 1.
Figure 1. Lomiko graphite single layer pouch cell batteries produced and tested by Polaris
In Phase 2, Polaris constructed single-layer cells using the coated graphite materials paired with a
cathode source. NCM111 was selected for this analysis. Preliminary cycling results indicate
consistent performance with internal standard references, showing a relative capacity fade rate
over 25 cycles at C/2 of less than 0.1% per cycle.
Initial cycling data suggests consistent performance with internal baseline performance metrics for
an NCM111 cathode in a single -layer cell using commercially available natural graphite as the
anode material. Figure 2 shows a plot of an internal performance reference for an NCM111 vs.
natural graphite single-layer cell in comparison to the single-layer cell using graphite batch SPG16.
C/20 and C/10 data represent a boost in performance of ~1.5%, ~2.4% at C/5, and ~3.3% at C/2
versus the commercial reference. Further, SPG16 single-layer cells also demonstrate a lower
degree of capacity loss at C-rate switches and more steady capacity at C-rate versus the commercial
reference.
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Figure 2: Plot of NCM111 vs a commercially available natural graphite reference in comparison to LOM's SPG16 paired with an
NCM111 cathode
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Figure 3: Plot of NCM111 vs a commercially available natural graphite reference in comparison to LOM's SPG20 paired with an
NCM111 cathode
As observed in Figure 3, initial cycling data indicates consistent performance versus a commercial
reference.
In conclusion, both SPG16 and SPG20 perform well as compared to commercial graphite
reference material for charge and discharge capacities, first cycle loss coulombic efficiency, and
gravimetric capacity. With these electrochemical performance results produced by Polaris,
Lomiko has now successfully demonstrated the full value chain from ore to battery anode
material on samples from the La Loutre project.
Bourier Property
Lomiko announces that in connection with its previously announced amended option agreement
(the “Option Agreement”) with Critical Elements Lithium Corporation (“CELC”) on the Bourier
project (see news release dated January 25, 2022 for more details) and the succ essful earn in of
49% announced on December 20, 2023, and amendment of the terms of the second option under
the Option Agreement (the “Second Option”) , that it will not proceed with the exercise of the
second option. The Company believes that further value creation may occur as development of
lithium assets in the proximity of Bourier are developed.
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).
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Qualified Persons – La Loutre Graphite
Mr. Oliver Peters, a Principal Metallurgist with Metpro Management Inc., is a Qualified Person
within the meaning of NI 43-101. Mr. Peters is satisfied that the analytical and testing procedures
used are standard industry operating procedures and methodologies, and he has reviewed,
approved and verified the technical information disclosed in this news release, including sampling,
analytical and test data underlying the technical information.
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite development in southern Quebec.
The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation’s territory.
The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated
within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the
property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares
(45.3 km2).
The Property is underlain by rocks from the Grenville Province of the Precambrian Canadian
Shield. The Grenville was formed under conditions that were very favorable for the development
of coarse -grained, flake -type graphite mineralization from organic -rich material during high-
temperature metamorphism.
Lomiko Metals published April 13, 2023 Updated Mineral Resource Estimate (MRE) (“NI 43-101
Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec,
Canada”, prepared by InnovExplo Inc. dated May 11, 2023) which estimated 64.7 million tonnes
of Indicated Mineral Resources averaging 4.59% Cg per tonne for 3.0 million tonnes of graphite,
a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a
result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE, with additional
Mineral resources reported down- dip and within marble units resulted in the addition of 17.5
million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million
tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes
completed in 2022 combined with the refinement of the deposit and structural models contributed
to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource
category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per
tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon).
In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical
Elements Lithium Corporation as per the option agreement announced on April 27 th, 2021. 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.
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On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
For more information on Lomiko Metals, review the website at www.lomiko.com
For more information, contact 1-833-456-6456 or 1-833-4-LOMIKO or email: [email protected]
.
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