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Lomiko Metals and Quebec Precious Metals Report Intercept of 87.9 m of 7.14% Including 21.0 m of 15.48% Flake Graphite from La Loutre

Dienstag, 23.04.19 18:21
Lomiko Metals and Quebec Precious Metals Report Intercept of 87.9 m of 7.14% Including 21.0 m of 15.48% Flake Graphite from La Loutre
Bildquelle: fotolia.com
VANCOUVER, British Columbia & MONTREAL –

Lomiko Metals Inc. (TSX-V:LMR, OTC:LMRMF, FSE:DH8B) (Lomiko or the “Company”) and Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM”) are pleased to announce the results from the first exploration diamond drill hole received from the 2019 program (see Table 1 below, and Figure 1) at the Refractory Zone at the La Loutre graphite project (the “Project”). A total of 21 holes were completed on the Refractory Zone for a total of 2,800 metres. Results from remaining 20 holes will be reported as they are received and compiled. Lomiko currently owns 80% of the Project.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190423005760/en/

Exponential Rise in EV Sales in the Next Decade Will Drive Graphite Demand (Photo: Business Wire)

Exponential Rise in EV Sales in the Next Decade Will Drive Graphite Demand (Photo: Business Wire)

“We are impressed with the size and grade of the Refractory Zone. It has exceeded our expectations.”, stated A. Paul Gill, CEO of Lomiko.

Table 1: Results of the first hole of the 2019 drill program. The width is drill indicated core length.

Hole ID     UTM E     UTM N     Azimuth     Dip     Mineralization   Cg %
                    From (m)   To (m)   Interval
LL-19-16 499851     5097829     66.50     -50.00     4.10   92.00   87.90   7.14
including     70.50   91.50   21.00   15.48
          132.00   160.50   28.50   3.86

The drill campaign focuses on the Refractory Zone. An independent technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, prepared by B. Turcotte and G. Servelle of InnovExplo Inc. from Val-d’Or, Québec, and O. Peters, of AGP Mining Inc., dated March 24, 2016, was filed for the Project’s Graphene-Battery Zone. The report presented a mineral resource estimate of 18.4 M Tonnes at a grade of 3.19% carbon flake graphite (“Cg”) in the Indicated category and 16.7 M Tonnes at 3.75% Cg in the Inferred category using a cut-off of 1.5% Cg. The Project also includes several other untested anomalies.

The drill hole intercept is approximately 450 m SE from high grade intercepts drilled in 2017: 7.74% Cg over 135.6 m including 16.81% Cg over 44.1 m from LL-16- 01, and 14.56% Cg over 110.8 m from LL-16-03. Both holes are located at the Refractory Zone.

On the basis of the available geophysical and 2016 drilling data, the strike length of the mineralization is estimated at 900 m in the NW-SE direction and is open in both directions. A detailed interpretation of the results will be carried out to better estimate the thickness and strike length of the mineralized zone.

The Project consists of contiguous claim blocks totaling 29 km2 situated approximately 53 km E of Imerys Carbon and Graphite, formerly known as the Timcal graphite mine, North America’s only operating graphite mine, and located 117 km northwest of Montreal.

The 2019 exploration program is managed by Consul-Teck Exploration of Val-d'Or, Quebec, who designed the drilling campaign, supervised the program and logged and sampled the core.

Quality Assurance/Quality Control

Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one half sent for assay and the other retained in the core box as a witness sample. Duplicates and blanks were inserted at a regular interval into the sample stream.

The samples in secure tagged bags were delivered directly to the analytical facility for analysis. In this case, the analytical facility was the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separated and pulverized to 85% passing 75µm. All samples are analyzed for Carbon Graphite using the C-IR18 method.

Qualified Person

Jean-Sebastien Lavalleìe (OGQ #773), Geologist, is a shareholder of both companies, VP Exploration of QPM and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

For more information on Lomiko Metals, review the website at www.lomiko.com.

On Behalf of the Board,

“A. Paul Gill”

Chief Executive Officer

We seek safe harbor. Neither 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 release

Quelle: Business Wire

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