Lomiko announces further results from its infill and extension exploration drill program at the La Loutre Graphite property in Québec, including 15.09% Cg over 60.0m in the EV Zone Company also provides corporate update and sets date of Annual General Meeting
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Lomiko announces further results from its infill and extension exploration
drill program at the La Loutre Graphite property in Québec, including
15.09% Cg over 60.0m in the EV Zone
Company also provides corporate update and sets date of Annual General Meeting
Montreal, Quebec - October 12, 2022 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce the fourth 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 encouraged to see that t he results from th ose
additional 10 holes drilled at the center of the EV Zone continue to build on the results announced
already and continue to demonstrate high-grade graphite mineralization over significant intervals.
The best intersection was 8.14% graphitic carbon (“% Cg”) over 148.5 metres (“m”) in hole LL -
22-035 including 15.09% Cg over 60.0m from 13.5m to 73.5m. The number of hol es with
significant mineralization confirms the potential of this area for additional graphite resources, and
many holes remain open. We look forward to more results in the next 11 holes in the EV zone
which will be released as more assays are received.”
Highlights
• Consistent, near-surface graphite mineralization in the mid-north section of EV Zone
• High-grade graphite values and significant widths
• 9 out of 10 holes intersected significant mineralization.
• Up to 8.14% Cg over 148.5m from 6.0 to 154.5m in hole LL-22-035 including 15.09%
Cg over 60.0m from 13.5m to 73.5m.
• Hole LL-22-042 encountered 8.68% Cg over 94.5m from 4.5 to 99.0m and 6.64% Cg
over 94.4m from 121.0 to 215.4m
• Up to 13.84% Cg over 42.0 meters from 169.0 to 211.0 in hole LL-22-031.
• Holes LL-22-038, LL-22-040 and LL-22-042 all bottomed in mineralization.
• Graphite intervals in 8 of 10 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 for the La Loutre project as announced
in the Company’s July 29, 2021, press release (see link). 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 ten holes drilled at the mid-north 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 9 of the 10 holes. The best
intersection was 8.14 percent graphit ic carbon (“% Cg”) over 148.5 metres (“m”) from 6.0 to
154.5m in hole LL-22-035 including 15.09% Cg over 60.0m from 13.5m to 73.5m. Holes LL-22-
036, - 038, -040 and -042 intersected multiple layers of significant graphite values. For example,
hole LL-22-042 encountered 8.68% Cg over 94.5m from 4.5 to 99.0m and 6.64% Cg over 94.4m
from 121.0 to 215.4m. Graphite intervals intersections in holes LL -22-035 to -042 remain open
with additional assay results pending. Hole LL -22-038, -040 and - 042 all bottomed in
mineralization. Hole LL -22-034, drilled on the east margin of the EV Zone, encountered only
quartzite as expected so no sampling was done. Four other holes were planned for this area but
could not be drilled due to swampy, soft conditions that prevented access.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Hole From
(m)
To (m) Int.
(m)
% Cg Notes
LL-22-031 169.0 211.0 42.0 13.84
LL-22-034
No sampling mostly quartzite
LL-22-035 6.0 154.5 148.5 8.14 Open down hole from 148.5
including 13.5 73.5 60.0 15.09
LL-22-036 100.2 114.7 14.5 2.05 Open down hole from 114.7 & up hole from
176.5m
176.5 222.0 45.5 1.21 Stopped in mineralization
LL-22-037 4.5 23.7 19.2 3.62 Open down hole from 23.7
LL-22-038 8.5 18.2 9.7 12.01 Open down hole from 18.2m & up hole from
91.0m
91.0 233.1 142.1 2.94 Stopped in mineralization
including 200.5 221.5 21.0 9.38
LL-22-039 3.0 115.0 112.0 2.69 Open down hole from 115.0m
Including 89.7 110.5 20.8 5.27
LL-22-040 97.7 109.7 12.0 1.21 Open down hole below 109.7 & up hole
from172.0m
172.0 248.5 76.5 3.20 Stopped in mineralization
including 203.5 230.5 27.0 6.44
LL-22-041 13.4 29.9 16.5 15.74 Open down hole from 29.9
LL-22-042 4.5 99.0 94.5 8.68 Open down hole from 99.0m & up hole
from121.0m
Including 4.5 48.0 43.5 15.31
121.0 215.4 94.4 6.64 Stopped in mineralization
Including 178.0 197.4 19.4 14.25
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
Hole UTM_mE UTM_mE Elev._m Azimuth_° Dip_° Length_m
LL-22-031 499366 5098144 336 60 -57 249
LL-22-034 499508 5098149 346 60 -51 138
LL-22-035 499439 5098126 343 50 -50 186.6
LL-22-036 499395 5098089 341 60 -66 222
LL-22-037 499503 5098104 357 60 -53 168
LL-22-038 499428 5098078 343 60 -63 234
LL-22-039 499522 5098058 360 60 -52 150
LL-22-040 499403 5098029 351 60 -52 249
LL-22-041 499588 5098067 357 60 -51 94.3
LL-22-042 499484 5098065 353 60 -49 216
Figure 1: EV Zone Drill Hole Locations
Corporate Update
In the last several weeks the Company has attended numerous events and conferences and looks
forward to developing more working relationships in Quebec following its participation at
XPLOR, in Montreal October 3 to 6. Interested investors can meet with management at the
Energy and Mines conference taking place November 1 and 2, 2022 in Toronto, where COO
Gordana Slepcev will be presenting.
The Company’s updated investor presentation can be found on the website at www.lomiko.com
and includes section plans of the assay results received from the current exploration campaign.
Annual General Meeting
The Annual General Meeting of the Company will be held by means of remote communication,
rather than in person, on Tuesday, December 6, 2022, at the hour of 11:00 a.m. (Eastern time).
The Company has fixed November 1, 2022 as the record date for the determination of
shareholders entitled to notice of and to vote at the Meeting and at any adjournment or
postponement thereof. Each registered shareholder (“Registered Shareholders”) at the close of
business on that date is entitled to such notice and to vote at the Meeting in the circumstances set
out in the Circular.
QAQC and Analytical Procedures
The drill core was logged and marked for sampling by a professional geologist. All the core was
photographed as part of the logging procedure. Core samples were collected by splitting each
sample interval in half lengthwise with a hydraulic core splitter . One half of the interval was
returned to the core box, and the other half was placed in a plastic bag with a tag. The tag number
was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-
wrap. One certified reference material standard and one blank were included in each batch of 21
samples. For shipping, samples were placed in rice bag s that were individually sealed with
numbered, tamper-proof security tags. The rice bags were then placed on wooden pallets, secured
with plastic wrapping, and delivered by truck to Manitoulin Transport Inc. for shipping to
Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario.
At Actlabs the samples were crushed to 80% passing 2mm and then riffle split to a 250g sub-
sample that was pulverized to pulp 95% passing 105μm (Actlabs Code RX1). The sample pulps
were then analyzed for graphitic carbon “Cg”) by mild hydrochloric acid digestion followe d by
combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO
9001:2015 registration and is independent of the Company.
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 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.
In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards
earning its 70% stake in the Bourier Project as per the option agreement announced on April 27th,
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.
About the La Loutre Graphite Project
The Company holds a 100% interest in its La Loutre graphite development project 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 one large , continuous block with 76 mineral claims totalling
4,528 hectares (45.3 km2).
The Property is underlain by rocks belonging to the Grenville Province of the Precambrian
Canadian Shield. The Grenville was formed under conditions that were very favourable for the
development of coarse- grained, flake- type graphite mineralization from organic -rich m aterial
during high-temperature metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic Estimate (PEA) which indicated
the project had a 15- year mine life producing per year 100,000 tonnes of graphite concentrate at
95% Cg or a total of 1.5Mt of 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.
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 or
please contact:
Kimberly Darlington
514-771-3398
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