Lomiko announces grant from the Consortium de recherche et d'innovation en transformation métallique (CRITM) and National Research Council of Canada Industrial Research Assistance Program (NRC IRAP)
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Lomiko announces grant from the Consortium de recherche et d'innovation
en transformation métallique (CRITM) and
National Research Council of Canada Industrial Research Assistance
Program (NRC IRAP)
Montreal, Québec - July 24, 2023 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or
the “Company”) is pleased to announce that further to its press release dated June 16, 2023, the
Company secured up to $500,000 in funding from federal and provincial agencies to continue
advancing pre-feasibility level battery trials with its La Loutre natural flake graphite concentrate.
Lomiko has succeeded in obtaining a grant from the Consortium de recherche et d'innovation en
transformation métallique (CRITM) to complete studies for spherical graphite in battery
applications. The Company also secured funding support from the National Research Council of
Canada Industrial Research Assistance Program (NRC IRAP) and funding from CRITM through
the Québec Plan for the Development of Critical and Strategic Minerals from Ministère des
Ressources naturelles et des Forêts (MRNF). The aim is to continue advancing pre-feasibility level
battery trials with La Loutre natural flake graphite concentrate. The work will be carried out over
the next 24 months by experts from the National Research Council of Canada’s Automotive and
Surface Transportation Research Centre at its Boucherville facility in Quebec.
Belinda Labatte, CEO and D irector, stated: “We are pleased to be working with CRITIM, NRC
IRAP, and the MRNF on these studies, which show the continued interest in our natural flake
graphite project and its overall potential benefit to Quebec and Canada as a critical mineral that
can benefit the energy transition. We are actively participating in Quebec's critical mineral strategy
and increasing the collective knowledge base of our La Loutre project, and our mission is to create
a climate success story with First Nations and local communities. We are pleased to be working
with our Quebec partners on this initiative.”
By extracting and transforming these rich graphite resources, Lomiko can help meet the growing
demand for graphite from electric car battery manufacturers. As the need for a transition to electric
vehicles intensifies, Lomiko anticipates that its La Loutre project will be part of a comprehensive
solution for energy self-sufficiency and large-scale reduction of greenhouse gas emissions.
Project description
This project will involve the research and development of a technological prototype for graphite
processing, comprising several stages , including micronization, spheronization, purification and
coating. The main deliverables of this process, particularly after electrochemical characterization
of the transformed graphite material, are anode composition and defined charge/discharge
capacities.
An 800 kg bulk sample is to be extract ed from the La Loutre graphite deposit and shipped to a
third-party laboratory ( Corem, Quebec). After crushing, the ore is processed in a pilot flotation
plant to produce graphite flotation concentrate. The flotation concentrate is dried and classified
into size fractions. The - 100 mesh product will be micronized to a D50 of 15- 20 microns and
spheroidized (Corem and NRCAN in Quebec). This size reduction and shaping is a requirement
for natural graphite to be used as a battery anode material. The micronization process has the added
benefit of reducing the amount of impurities that are associated with graphite. The spheronized
product will undergo thermal and chemical purification to remove most remaining sulphite and
non-sulfur impurities to improve the quality of the graphite to obtain a concentrate of at least
99.95% C(g). The coating of SPG (spherical graphite) material is carried out to produce coated
purified spherical graphite (CSPG). Finally, the CSPG will be subjected to a battery evaluation to
establish the electrochemical performance of the La Loutre material.
The steps of the CSPG replicate the sequence of the business process on a smaller scale. The data
collected during processing will be used to develop the integrated process design criteria, whic h
forms the basis for large-scale plant engineering.
Although each of the individual technologies has been used in various applications for years,
configuring them into an integrated process is a new approach, given that China currently produces
almost 100% of the spherical purified graphite needed for EV battery applications.
It should be noted that the pre -feasibility metallurgical test work achieved excellent results and
demonstrated that an optimized flotation plant flow sheet can achieve 94.7% graphite recovery
and average 98.7% graphitic carbon purity at the La Loutre natural flake graphite project. Lomiko's
La Loutre project is a source of high-quality natural flake graphite located in southern Quebec.
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) 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 Indicat ed 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 is working with Critical Elements Lithium Corporation towards
earning its 49% 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.
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
Contact Gordana Slepcev at 647-781-7344 or Belinda Labatte at 647 -402-8379 or at 1-833-456-
6456 or 1-833-4-LOMIKO
or email: [email protected].
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian
securities legislation that is based on expectations, estimates, projections and interpretations as at the date
of this news release. The information in this news release about the Company; and any other information
herein that is not a historical fact may be "forward-looking information" (“FLI”). All statements, other than
statements of historical fact, are FLI and can be identified by the use of statements that include words such
as "anticipates", "plans", "continues", "estimates", "ex pects", "may", "will", "projects", "predicts",
“proposes”, "potential", "target", "implement", “scheduled”, "intends", "could", "might", "should",
"believe" and similar words 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.
FLI involves known and unknown risks, assumptions , and other factors that may cause actual results or
performance to differ materially , and statements relating to the intended use of proceeds of the Offering
and the receipt of final acceptance of the TSX Venture Exchange. 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, includ ing 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 re cent management’s
discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor
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
differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to update or revise any such
forward-looking statements or forward- looking information contained herein to reflect new events or
circumstances, except as may be required by applicable securities laws.
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in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.