Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce it has successfully completed
Phase 2 of the single-layer pouch cell battery testing of its La
Loutre graphite material with Polaris Battery Labs, LLC
(“Polaris”). In Phase 1, Polaris completed half-cell coin battery
testing, confirming good material electrochemical performance
metrics compared to industry standards. (please see press release
dated January 10, 2024.)
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240401093822/en/
Figure 1. Lomiko graphite single layer
pouch cell batteries produced and tested by Polaris (Photo:
Business Wire)
In Phase 2, cathode and prepared anode were combined into a
single-layer pouch cell format to undergo electrochemical testing
to demonstrate technical performance as a full rechargeable
battery. Note that the single-layer pouch cells provide a format
that is similar to those used in industry while not requiring large
amounts of active material. The coated spherical graphite material
(eSPG) provided for the originated from coated purified samples
generated by the Corem Innovation Centre in Quebec, Canada. These
samples were micronized and spheronized by ProGraphite in Germany.
The samples are deemed representative of the La Loutre deposit.
The single-layer pouch cells constructed with our graphite anode
and standard cathode material demonstrated that our graphite
performs well under basic test conditions: cSPG16 and cSPG20
samples from La Loutre reveal strong performance of the La Loutre
cSPG with better discharging capacity compared to commercial
graphite in North America today. Both samples were put through a
brief life cycle analysis for 25 cycles at C/2 and performed well.
Please see highlights of the study below.
Concurrent with these studies, Lomiko is also working on the
“NRC Study” announced on July 27, 2023, which aims to advance
pre-feasibility level battery trials with its La Loutre natural
flake graphite concentrate.
Belinda Labatte, CEO and Interim Chair of the Board, stated:
“With the growing number of OEMs focused on lithium-ion batteries,
graphite material testing needs to resemble real-life usage
conditions. Lomiko has completed a number of metallurgical and
electrochemical performance tests and will continue this process
with National Research Council in 2024 and 2025. The Polaris
studies, now concluded, confirm the electrochemical performance
results are suitable for graphite anode materials and battery
manufacturing. Lomiko has now successfully demonstrated the full
value chain from ore to battery anode material on samples from the
La Loutre project.
“The importance of natural flake graphite supply was once again
delineated with the Biden Administration announcement on March 20,
2024: by 2032, more than half the new cars sold in the United
States would likely be zero-emissions vehicles in order for
carmakers to meet the new standards for tailpipe pollution
reduction. These zero-emission vehicles today require approximately
100 kg of graphite per vehicle.”
Polaris Single Layer Pouch Cell Study
Pictures of the pouch cells made with Lomiko cSPG are shown
pictured in Figure 1.
In Phase 2, Polaris constructed single-layer cells using the
coated graphite materials paired with a cathode source. NCM111 was
selected for this analysis. Preliminary cycling results indicate
consistent performance with internal standard references, showing a
relative capacity fade rate over 25 cycles at C/2 of less than 0.1%
per cycle.
Initial cycling data suggests consistent performance with
internal baseline performance metrics for an NCM111 cathode in a
single-layer cell using commercially available natural graphite as
the anode material. Figure 2 shows a plot of an internal
performance reference for an NCM111 vs. natural graphite
single-layer cell in comparison to the single-layer cell using
graphite batch SPG16. C/20 and C/10 data represent a boost in
performance of ~1.5%, ~2.4% at C/5, and ~3.3% at C/2 versus the
commercial reference. Further, SPG16 single-layer cells also
demonstrate a lower degree of capacity loss at C-rate switches and
more steady capacity at C-rate versus the commercial reference.
As observed in Figure 3, initial cycling data indicates
consistent performance versus a commercial reference.
In conclusion, both SPG16 and SPG20 perform well as compared to
commercial graphite reference material for charge and discharge
capacities, first cycle loss coulombic efficiency, and gravimetric
capacity. With these electrochemical performance results produced
by Polaris, Lomiko has now successfully demonstrated the full value
chain from ore to battery anode material on samples from the La
Loutre project.
Bourier Property
Lomiko announces that in connection with its previously
announced amended option agreement (the “Option Agreement”) with
Critical Elements Lithium Corporation (“CELC”) on the Bourier
project (see news release dated January 25, 2022 for more details)
and the successful earn in of 49% announced on December 20, 2023,
and amendment of the terms of the second option under the Option
Agreement (the “Second Option”), that it will not proceed with the
exercise of the second option. The Company believes that further
value creation may occur as development of lithium assets in the
proximity of Bourier are developed.
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 position of 10,252.20 hectares (102.52 km2).
Qualified Persons – La Loutre
Graphite
Mr. Oliver Peters, a Principal Metallurgist with Metpro
Management Inc., is a Qualified Person within the meaning of NI
43-101. Mr. Peters is satisfied that the analytical and testing
procedures used are standard industry operating procedures and
methodologies, and he has reviewed, approved and verified the
technical information disclosed in this news release, including
sampling, analytical and test data underlying the technical
information.
About Lomiko Metals Inc. The
Company holds mineral interests in its La Loutre graphite
development in southern Quebec. The La Loutre project site is
within the Kitigan Zibi Anishinabeg (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 kilometers northwest of Montreal,
the property consists of one large, continuous block with 76
mineral claims totaling 4,528 hectares (45.3 km2).
The Property is underlain by rocks from the Grenville Province
of the Precambrian Canadian Shield. The Grenville was formed under
conditions that were very favorable for the development of
coarse-grained, flake-type graphite mineralization from
organic-rich material during high-temperature metamorphism.
Lomiko Metals published April 13, 2023 Updated Mineral Resource
Estimate (MRE) (“NI 43-101 Technical Report and Mineral Resource
Estimate Update for the La Loutre Project, Quebec, Canada”,
prepared by InnovExplo Inc. dated May 11, 2023) which estimated
64.7 million tonnes of Indicated Mineral Resources averaging 4.59%
Cg per tonne for 3.0 million tonnes of graphite, a tonnage increase
of 184%. Indicated Mineral Resources increased by 41.5 million
tonnes as a result of the 2022 drilling campaign, from 17.5 million
tonnes in 2021 MRE, with additional Mineral resources reported
down-dip and within marble units resulted in the addition of 17.5
million tonnes of Inferred Mineral Resources averaging 3.51% Cg per
tonne for 0.65 million tonnes of contained graphite; and the
additional 13,107 metres of infill drilling in 79 holes completed
in 2022 combined with the refinement of the deposit and structural
models contributed to the addition of most of the Inferred Mineral
Resources to the Indicated Mineral Resource category, relative to
the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07
per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic
carbon).
In addition to La Loutre, Lomiko has earned-in its 49% stake in
the Bourier Project from Critical Elements Lithium Corporation 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 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
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, and statements relating to the
intended use of proceeds of the Offering and the receipt of final
acceptance of the TSX Venture Exchange. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240401093822/en/
1-833-456-6456 1-833-4-LOMIKO info@lomiko.com
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