Lomiko announces further results from the infill and extension exploration drill program at its La Loutre Graphite property in Québec, including a large interval of 4.49% Cg drilled over 144.3m including 8.43% Cg over 55.5m in
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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 a large
interval of 4.49% Cg drilled over 144.3m including 8.43% Cg over 55.5m in
the Battery Zone
Montreal, Quebec - November 28, 2022 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce the sixth 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. The La
Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations
territory.
Belinda Labatte, CEO and Director stated: “We are pleased that significant intervals encountered
in all 6 holes of the Battery Zone assays validate the continuity and the quality of the
mineralization. Similar to the EV zone results, the Battery Zone shows significant mineralization
over large intervals in the center of the deposit . The highlight is hole LL-22-054 where we have
4.49% Cg over a 144.3m interval including 8.43% Cg over a 55.5m interval. We look forward to
receiving the results from the remaining 20 holes in Battery Zone.”
Highlights
Assay results from the first six of 26 holes drilled at Battery Zone:
• Consistent, near surface graphite mineralization in mid-north section of Battery Zone
• High-grade graphite values and significant widths in all six drill holes
• Best interval: 4.49% Cg over 144.3m from 46.7 to 191.0m in hole LL-22-054 including
8.43% Cg over 55.5m from 46.7 to 102.2m
• Multiple graphite layers encountered in holes LL-22-056, LL-22-057, and LL-22-058
• Flake graphite mineralization is visua lly coarse -grained, indicating that the flake
sizing may be bigger than in the EV zone
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 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 six holes at the mid -north section of the
Battery Zone. These are the first six holes of the 26-hole program completed on the Battery Zone
from early August to mid-September 2022. These holes were drilled to confirm results of previous
drilling and provide better detail in this part of the Battery deposit. Please refer to Table 1 for the
weighted averaged 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 all six holes. The best
intersection was 4.49 per cent graphitic carbon (“% Cg”) over 144.3 metres (“m”) from 46.7 to
191.0m in hole LL-22-054 including 8.43% Cg over 55.5m from 46.7 to 102.2m. This hole was
stopped in mineralization, so the graphite interval in this hole is open at depth. Holes LL-22-056,
-057, and -058 intersected multiple layers with significant graphite values. For example, Hole LL-
22-058 encountered 4.10% Cg over 25.0m from 22.0 to 47.0m including 8.47% Cg over 11.5m
from 25.0 to 36.5 m, and 1.28% Cg over 40.5m from 87.7 to 128.2m. Generally, it was noted that
the graphite mineralization intersected in the Battery zone is visually more coarse-grained than the
graphite mineralization intersected at the recently drilled EV Zone.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Hole From
m
To
m
Int.
m
%
Cg
Notes
LL-22-054 46.7 191.0 144.3 4.49 Hole stopped in mineralization at 191.0m; sampling
complete
Including 46.7 102.2 55.5 8.43
LL-22-055 94.5 123.0 28.5 4.66 Open above 94.5m; additional sampling underway
Including 109.5 120.0 10.5 8.47
LL-22-056 17.8 29.8 12.0 2.01 Open above 17.8m & below 29.8; additional sampling
underway
LL-22-056 71.5 106.0 34.5 2.53 Open above 71.5m; additional sampling underway
LL-22-057 21.3 45.1 23.8 1.66 Sampling complete
LL-22-057 113.2 135.0 21.8 1.19 Sampling complete
LL-22-058 22.0 47.0 25.0 4.10 Sampling complete
Including 25.0 36.5 11.5 8.47
LL-22-058 87.7 128.2 40.5 1.28 Sampling complete
LL-22-059 10.5 96.0 85.5 4.75 Sampling complete
Including 31.5 51.0 19.5 7.13
LL-22-059 142.5 175.5 33.0 0.99 Sampling complete
Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)
Hole UTM_mE UTM_mE Elev._m Azimuth_° Dip_° Length_m
LL-22-054 499151 5096871 312 60 -54 191
LL-22-055 499211 5096970 317 60 -55 144
LL-22-056 499239 5096867 312 60 -54 126
LL-22-057 499400 5096706 334 60 -52 135
LL-22-058 499446 5096674 342 60 -55 150
LL-22-059 499390 5096607 335 60 -56 180
Figure 1: Battery 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 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 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 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 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 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
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian
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"believe" and similar word s or expressions. FLI in this new release includes, but is not limited to: the
Company’s objective to become a responsible supplier of critical minerals, exploration of the Company’s
projects, including expected costs of exploration and timing to achieve certain milestones, including timing
for completion of exploration programs; the Company’s ability to successfully fund, or remain fully funded
for the implementation of its business strategy and for exploration of any of its projects (including from the
capital markets); any anticipated impacts of COVID-19 on the Company’s business objectives or projects,
the Company's financial position or operations, and the expected timing of announcements in this regard.
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performance to differ materially. This FLI reflects the Company’s current views about future events, and
while considered reasonable by the Company at this time, are inherently subject to significant uncertainties
and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results.
Assumptions upon which such FLI is based include, without limitation: current market for critical minerals;
current technological trends; the business relationship between the Company and its business partners;
ability to implement its business strategy and to fund, explore, advance and develop each of its projects,
including results therefrom and timing thereof; the ability to operate in a safe and effective manner;
uncertainties related to receiving and maintaining exploration, environmental and other permits or
approvals in Quebec; any unforeseen impacts of COVID -19; impact of increasing competition in the
mineral exploration business, including the Company’s competitive position in the industry; general
economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement,
the “Forward -Looking Statements” section contained in the Company’s most recent management’s
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presentation on its website. All FLI in this news release are made as of the date of this news release. There
can be no assurance that such statements will prove to be accurate, as actual results and future events could
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