Lomiko identifies 55 new prospective targets in the Grenville Graphite Mineral Belt and updates exploration on Bourier Lithium Project
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Lomiko identifies 55 new prospective targets in the Grenville Graphite Mineral Belt and
updates exploration on Bourier Lithium Project
Montreal, Quebec – February 21, 2023 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce the following regional exploration updates. The
Company has staked approximately 268 mineral claims covering 15,639 hectares on six blocks in
the Laurentian region of Quebec, approximately 200 kilometres northwest of Montréal within the
Kitigan Zibi First Nation ’s territory. These new claim blocks lie within a 100 km radius of the
Company’s flagship La Loutre graphite project.
Highlights :
• 1518-line kilometres of heliborne magnetic and time -domain electromagnetic surveys
completed over the six Grenville graphite properties (Figure 1)
• 55 targets prospective for graphite mineralization identified
• Targets to be ground tested with Beep-Mat prospecting and sampling
Within the Central Metasedimentary Belt of the Grenville Geological Province, graphite
mineralization is known to occur in conjunction with various types and amounts of sulphides
suggesting that a combined geophysical High-resolution magnetic ( “MAG”) and time -domain
electromagnetic ( “TDEM”) response is expected from graphite -bearing rock units. The strong
correlation of TDEM and MAG anomalies implies that magnetic sulphide minerals are likely to
compose at least part of the anomaly sources. These are considered first steps in developing natural
flake graphite exploration campaigns.
Belinda Labatte, CEO stated: “We are very ple ased to see that the geophysical surveys we
conducted over the summer on our new graphite properties in the Grenville belt have returned very
encouraging results with previous visible graphite occurrences observed on several of the claims.
We intend to follow up on the prospective targets identified on all six properties with Beep-Map
prospecting and sampling later in 2023. This method successfully found the La Loutre deposit
currently at the Pre -Feasibility Stage. Those positive results fit into our strategy to create a
responsible regional solution for natural flake graphite development in Southern Quebec and we
are looking forward to working with Kitigan Zibi First Nation and local communities to further
develop those properties. At Bourier, we have a massive claim package to explore and we continue
our earlier soil and surface sampling test to determine the most prospective pegmatite anomalies.”
The 179-line-km survey flown over the 28- claim Boyd project located adjacent to the historical
Standard graphite deposit identified 260 TDEM point anomalies with 65 having an intermediate
to strong conductive response. Seven linear TDEM trends show strong correlation with magnetic
trends and are considered prospective targets for graphit e-sulphide mineralization. Three other
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TDEM trends are associated with MAG lows or do not show any clear correlation to magnetic
data. Graphite hosted within non- magnetic marble rocks may be the source of TDEM responses
of this sort.
The 175-line-km heli borne survey flown over the 33- claim Meloche project located 25 km
southeast of Mont-Laurier identified 229 TDEM point anomalies with 33 having an intermediate
conductive response. Two linear TDEM trends and three spot anomalies show strong correlation
with magnetic trends and are considered prospective targets for graphite -sulphide mineralization.
Two of these targets correspond with known surface occurrences, including the Lac Meloche
occurrence where visible flake graphite has previously returned up to 13.85% graphite and the Lac
Pimodan-NE occurrence where visible flake graphite has previously returned up to 10.13%
graphite (refer to reference no.2). A sixth target is defined by two TDEM anomalies over a MAG
low.
The 372-line-km survey flown over the 69- claim Dieppe project located 55 km north of Mont -
Laurier identified 320 TDEM point anomalies with 24 having an intermediate to strong conductive
response. Three linear TDEM trends show strong correlation with magnetic trends and are
considered prospective targets for graphite -sulphide mineralization. One of these targets
correspond with the known Lac Dieppe occurrence where visible flake graphite has previously
returned up to 11.6% graphite (refer to reference no.1). Three other TDEM trends are associated
with MAG lows or do not show any clear correlation to magnetic data. Graphite hosted within
non-magnetic marble rocks may be the source of TDEM responses of this sort.
The 246-line-km survey flown over the 47-claim Ruisseau project located 50 km ENE of Mont -
Laurier identified 538 TDEM point anomalies with 204 having an intermediate to very strong
conductive response . Eleven linear TDEM trends and three spot anomalies show strong
correlation with magnetic trends and are considered as prospective targets for graphite -sulphide
mineralization. Ten other TDEM trends are associated with MAG lows or do not show any clear
correlation to magnetic data. Graphite hosted within non-magnetic marble rocks may be the source
of TDEM responses of this sort.
The 315-line-km survey flown over the 52- claim Tremblant project located 25 km southeast of
Mont-Laurier identified 221 TDEM point anomalies with 31 having an intermediate conductive
response. Eight linear TDEM trends show strong correlation with magnetic trends and are
considered prospective targets for graphite-sulphide mineralization.
The 231-line-km survey flown over the 39- claim North Low project located 40 km north of
Gatineau identified 406 TDEM point anomalies with 21 having an intermediate to strong
conductive response. Two linear TDEM trends show strong correlation with magnetic trends and
are considered prospective targets for graphite -sulphide mineralization. Two other TDEM trends
are associated with MAG lows or do not show any clear correlation to magnetic data. Graphite
hosted within non-magnetic marble rocks may be the source of TDEM responses of this sort.
Please refer to the Lomiko website at www.lomiko.com to view maps showing the prospective
targets for graphite-sulphide mineralization on each claim block.
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Figure 1 - Project Location
Bourier Exploration Update
The Bourier Lithium property consists of 203 mining claims, covering 102.6 km2, located in the
Nemiscau greenstone belt. The 2022 exploration program consisted of 1) intensifying the surface
rock sampling in the anomalous zones discovered during the 2021 field program, and 2) testing
new lithium-cesium-tantalum pegmatite (LCT-Pegmatite) targets.
The 2022 surface exploration program confirmed and extended the 2.5 km long SW-trending LCT-
Pegmatite corridor, which is in strike with the Lemare lithium- prospect owned by Critical
Elements Lithium Corp. In addition, the exploration program revealed a new LCT -Pegmatite
sector in the North of the Bourier Property.
Lomiko’s 2023 exploration activities at Bourier will consist of two phases; 1) a litho-geochemical
characterization study of pegmatites and host rocks, and reanalyses of soil samples using a lithium-
oriented geochemical package, and 2) the completion of soil surveys in favourable geological areas
in the North and in the South of the Bourier Property.
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Qualified Person for graphite exploration
The technical content presented in this press release referencing graphite exploration was reviewed
by Mark Fekete, P.Geo. who acts 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.
Qualified Person for technical content at Bourier
The technical information in this press release has been prepared and approved by Ludovic
Bigot, professional geologist (P.Geo No. 01655), a qualified person as defined by NI 43-101
guidelines.
References
1. Blain, M. (1990). Rapport sur la campagne d’exploration, été 1990, propriété Kiamak ,
Ressource Graphicor Inc., https://gq.mines.gouv.qc.ca/documents/EXAMINE/GM51088/
2. Nantel, S., Pintson, H. (2002). Géologie de la région du lac Dieppe (310/03), Energie et
Ressources naturelles Quebec., RG 2001-16,
https://gq.mines.gouv.qc.ca/documents/EXAMINE/RG200116/RG200116.pdf
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite development in southern Quebec.
The La Loutre project site is located within the Kitigan Zibi Anishinabe g (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 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 fa vourable 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.
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
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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- 391-7344 or Belinda Labatte at 647-402-8379 or at 1-833-456-
6456 or 1-833-4-LOMIKO
or email: [email protected].
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