VANCOUVER, British Columbia & MONTREAL -- (Business Wire)
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.
“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 (m) |
||||||||||||||||||||
| 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.
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, contact A. Paul Gill at 604-729-5312 or email: info@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
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Source: Lomiko Metals Inc.
