Lomiko announces initial assay results from its natural flake graphite exploration program at La Loutre, Quebec and intersects up to 14.43% graphitic carbon over 12.5 m
#439, 7184 120th Street, Surrey, BC, V3W 0M6● Ph: (778) 228-1170 ● Fax: (604) 583-1932 ● Website: www.lomiko.com
Lomiko announces initial assay results from its natural flake graphite
exploration program at La Loutre, Quebec and intersects up to 14.43%
graphitic carbon over 12.5 m
Montreal, Quebec - September 6, 2022 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce the initial 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. The drilling was supervised by Québec-based, independent geological consultant
Breakaway Exploration Management Inc. and was operated under EC OLOGO requirements and
compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on
March 22, 2022 for more details about Lomiko’s ECOLOGO certification.
This p hase of the program 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 to 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. Lo m iko 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.
In particular, the goal of the drilling in the southern end of the EV Zone, as described below, was
to provide additional information, confirm results of the previous drilling campaigns, test the
extension of the EV Zone (“EV-EXT”) and establish the southern extents of the zone.
Belinda Labatte, CEO and Director stated: “We are very encouraged by the strong results obtained
in the first ten holes of the 2022 drill program as those confirm the previous results including the
presence of the mineralization and the grades encountered. The discovery of previously unknown
marble-hosted graphite is also very exciting as it opens the possibility of adding inferred mineral
resources and decreasing the overall strip ratio for the open pits. We look forward to more positive
results in the next 43 holes which will be released as more assays are received. We als o
acknowledge and appreciate the community’s communications with us during the period, and we
will continue to respond to enquiries on all aspects of our ongoing program at La Loutre, and our
desire to be a responsible operator and part of a climate success story in Southern Quebec.”
Highlights:
• Completion of infill drill program designed for the preliminary feasibility study (PFS) level
data acquisition at the “Electric Vehicle” or “EV” zone;
• Drilled 53 holes for a total of 8,999 metres in the EV Zone;
• Collected a total of 2,335 core samples in the EV Zone with 2,021 results pending,
including additional samples that would be taken to close off mineral zones indicated by
received assay results (existing results at the shoulders of the zones indicate that zones
extend further up or down the hole from currently sampled areas);
• Received assay results for the first ten holes in the EV Zone;
• Encountered significant graphite mineralization in seven of the ten holes with multiple
graphite intervals encountered in holes LL-22-003, LL-22-006 and LL-22-008;
• The best overall drill intersection , encountered close to s urface, consists of 14.43
percent graphitic carbon (% Cg) over 12.5 metres (m) from 48.2m to 60.7m in hole
LL-22-008, and the second-best result was 11.31% Cg over 18.5m from 7.3m to 25.8m
in hole LL-22-010;
• Discovered a new zone in the marble unit on the eastern or footwall side of the
paragneiss consisting of 6.09% Cg over 21.0m from 211.1m to 232.1 in hole LL -22-
003.
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 for the ten completed holes within
the southern end of the EV Zone referred to in this press release.
Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)
Hole From
(m)
To
(m)
Interval
(m)
%
Cg
Notes
LL-22-001
No samples
LL-22-002 140.2 149.2 9.0 1.05 Open up-hole, additional results pending
LL-22-003 93.1 103.6 10.5 2.39 Open up-hole, additional results pending
and 135.9 162.9 27.0 2.46 Open up-hole, additional results pending
including 144.9 149.4 4.5 8.20
and 211.1 232.1 21.0 6.09 Interval closed, no additional results
pending;
New graphite zone discovered in marble
LL-22-004
No significant values
LL-22-005
No samples
LL-22-006 48.8 141.8 93.0 0.79 Open down-hole, additional results
pending
including 57.8 68.3 10.5 1.44
and 132.8 141.8 9.0 3.18
and 177.4 180.5 3.1 15.10 Interval closed, no additional results
pending
LL-22-007 204.0 222.0 18.0 0.33 Open up-hole, additional results pending
LL-22-008 48.2 60.7 12.5 14.43 Open up-hole, additional results pending
Including 52.3 60.7 8.4 17.93
83.6 94.1 10.5 0.66 Open up-hole and down hole, additional
results pending
LL-22-009 29.9 36.4 6.5 14.86 Interval closed, no additional results
pending
LL-22-010 7.3 25.8 18.5 11.31 Open down-hole, additional results
pending
Table 2: Drill Hole Collar Locations
Hole UTM_mE UTM_mE Azimuth° Dip_° Depth_m
LL-22-001 499820 5097669 60 -54 201
LL-22-002 499871 5097700 60 -55 180
LL-22-003 499772 5097782 60 -59 261
LL-22-004 499792 5097666 60 -55 255
LL-22-005 499803 5097700 60 -50 234
LL-22-006 499804 5097737 60 -55 240
LL-22-007 499771 5097696 60 -55 258
LL-22-008 499928 5097737 60 -60 126
LL-22-009 499954 5097719 60 -55 111
LL-22-010 499976 5097763 60 -55 69
Figure 1: Location of existing and planned 2022 holes
New Discovery
A new zone of graphitic carbon was encountered in a marble unit on the eastern or footwall side
of the paragneiss. The graphite mineralization at la Loutre is generally hosted in paragneiss , and
drill holes completed in prior years by the Company in the E V Zone all stopped several metres
into the marble as it was previously thought that the graphite mineralization was restricted to the
paragneiss. This discovery consists of 6.09% Cg over 21.0m from 211.1m to 232.1m in hole LL-
22-003.
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 h ydraulic 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 T ransport 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 miner als 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 A nishinabeg (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 lar ge, continuous block with 48 mineral claims totalling
2,867 hectares (28.7km2).
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 Ma nagement 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
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", "expects", "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. 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
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.