JULY 6, 2015 TSX-V: LMR
Vancouver, BC, New York, NY & Montreal, QC- LOMIKO METALS INC. (TSX-V:LMR, OTC:LMRMF, FSE:DH8B) (the “Company”) and Canada Strategic Metals (TSX-V: CJC) are pleased to announce they have received two drilling permit for 5,000 metres each at the La Loutre Crystalline Flake Graphite Properties located in Quebec.
"Approximately 10,000 metres of drilling are planned at La Loutre. Drilling should reach a vertical depth of no more than 150 meters, the “rule-of-thumb” physical depth limit of a standard open pit.", stated A. Paul Gill, CEO, "Our goal is to become a low-cost producer of graphite in Quebec. A good example of an open pit mining operation established on this principal is the Imerys Carbon and Graphite Mine located nearby."
After the current program is complete, the property will be assessed for a resource and if warranted, a pre-economic assessment (PEA). The primary focus are intersections which start within 15 metres of the surface as highlighted below. Viable near surface mineralization reduces the amount of waste rock that needs to be moved, reducing overall cost of the project and reducing environmental impact.
Recent PEA publications in the graphite industry indicating capital expenditures of $ 100 million dollars or more for developing a project and an oversupply of graphite projects requiring sustained prices of over $ 2500 per tonne prices stress the need to deliver a low CAPEX Project with sustainable costs in a small, volatile market.
In a January 7, 2015 release, the company indicated that to be economically viable, La Loutre must be able to deliver 1 Million Tonnes of >94% Purity Graphite. To achieve this, the minimum resource must be at least 20 Million Tonnes of 5% Gp. Setting high standards is required to stand out in the current and future graphite market. In addition, Lomiko hopes to define material >99.99% Graphite Crystalline Flake to serve as the base material for testing graphite for the ultra-pure carbon market and for conversion to graphene and use in 3D Printing and Supercapacitors.
On March 16, 2015 Graphene 3D Lab (TSX-V: GGG, OTCQB: GPHBF) has announced that it launched commercial sales of its Conductive Graphene Filament for 3D printing, The filament incorporates highly conductive proprietary nano-carbon materials to enhance the properties of PLA, a widely used thermoplastic material for 3D printing; therefore, the filament is compatible with most commercially available 3D printers. The conductive filament can be used to print conductive traces (similar to as used in circuit boards) within 3D printed parts for electronics.
Further developments June 23, 2015 indicating Graphene 3D Lab has doubled its graphene production capacity and June 29, 2015 indicating that it is developing distribution deals bode well for future demand in high quality graphite for graphene conversion. Lomiko currently owns 4.4 Million shares of Graphene 3D Lab through its 100% owned subsidiary Lomiko Technologies.
The La Loutre Property reported grab samples up to 22.04% Carbon Flake Graphite (CFG) and Carbon Purity Test results reporting up to 100.00% Carbon Purity in the Large and Extra Large Flake Graphite categories. Graphite is the base material used for graphene conversion by Graphene 3D Lab. Drilling in 2014 (below) indicated significant near-surface mineralization. Details regarding these tests are available in a September 23, 2014 news release.
The 2014 drilling program at La Loutre was managed by Consul-Teck Exploration of Val-d'Or, Quebec, who designed the drilling campaign, supervised the program and logged and sampled the core. A full set of drill results are reported in the February 9, 2015 news release.
Highlighted Drill Results From La Loutre
|
Hole # |
From (m) |
To (m) |
Length* (m) |
Gp % |
|
LL-14-05 |
6.65 |
135.00 |
128.35 |
4.72 |
|
LL-14-15 |
3.40 |
56.65 |
53.25 |
4.40 |
|
LL-14-17 |
3.70 |
17.90 |
14.20 |
6.52 |
|
LL-14-19 |
3.00 |
15.40 |
12.40 |
5.36 |
|
LL-14 -21 |
15.3 |
35.6 |
20.3 |
8.01 |
|
LL-14-24 |
14.1 |
32.25 |
18.15 |
7.73 |
*Length along the core. The Company estimates the true width of the mineralized zone at 70 to 90% of the width intersected in the drill holes.
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 regularly 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 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 C-IR18.
Jean-Sebastien Lavallée (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.
For more information, 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.
