Lomiko announces further results from the infill and extension exploration drill program at its La Loutre Graphite property in Québec, including 10.06% Cg over 40.5m in the EV Zone
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Lomiko announces further results from the infill and extension exploration
drill program at its La Loutre Graphite property in Québec, including
10.06% Cg over 40.5m in the EV Zone
Montreal, Quebec - October 24, 2022 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce the f ifth 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 qua lity 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 i ncluding
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 f or 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 rele ase. 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 81.2 m 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.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Hole From
(m)
To (m) Int.
(m)
% Cg Notes
LL-22-043 Not Sampled, abandoned hole, redrilled as LL-22-045
LL-22-044 81.2 201 119.8 7.6 Stopped in mineralization
Including 81.2 121.7 40.5 10.06
Including 166.7 186.2 19.5 10.31
LL-22-045 93 102 9 1.01
204 231 27 5.83 Stopped in mineralization & open up hole from 204m
Including 211.5 231 19.5 7.63
LL-22-046 59.5 79 19.5 0.87
186 207 21 3.95 Stopped in mineralization & open up hole from 186m
Including 186 198 12 5.37
LL-22-047 64 82 18 0.88
92 117.5 25.5 0.41
200 216.5 16.5 0.55 Open down hole from 216.5m
LL-22-048 Not Sampled, abandoned hole, redrilled as LL-22-049
LL-22-049 203 219 16 2.71 Stopped in mineralization
LL-22-050 13 136 123 5.07 Open down hole from 136m
Including 14.5 37 22.5 10.67
LL-22-051 41.5 55 13.5 1.92
76.5 93 16.5 0.34
112.5 145.5 33 0.54
170.5 188.5 18 0.61 Stopped in mineralization
LL-22-052 77 92 15 1.09
118 257.5 139.5 1.67 Stopped in mineralization
Including 209.5 257.5 48 3.62
LL-22-053 38.4 57.9 19.5 0.77
116.5 234 117.5 1.94
Including 163 184 21 5.18
and 214 233 19 3.62
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
Hole UTM_mE UTM_mN Elev._m Azimuth_° Dip_° Length_m
LL-22-043 499411 5098013 350 60 -53 57
LL-22-044 499473 5098022 354 60 -54 201
LL-22-045 499411 5098013 350 60 -53 231
LL-22-046 499485 5097962 354 60 -57 210
LL-22-047 499485 5097962 354 60 -75 219
LL-22-048 499437 5097995 355 60 -57 12
LL-22-049 499437 5097995 355 60 -57 219
LL-22-050 499548 5097992 340 60 -57 141
LL-22-051 499510 5097934 342 60 -76 189
LL-22-052 499463 5097976 358 60 -57 258
LL-22-053 499510 5097934 342 60 -76 234
Figure 1: EV Zone Drill Hole Locations
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 ind elible 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 bags 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 followed 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 B ourier 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 km 2), in Canada’s lithium triangle nea r 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 Lo utre 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 material
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 gr aphite 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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