Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce the following updates.
Lomiko will start with the regional exploration programs in
mid-September and will continue until the end of the year. The work
in the fall of 2024 will consist of prospecting and geophysical
surveys using beep mapping. Lomiko will provide further updates on
the results of its exploration program and regional strategy for
responsible graphite development in Southern Quebec. The regional
exploration program will focus on improving knowledge of graphite
showings at the most prospective claims and providing a better
understanding of the La Loutre deposit.
Regarding recent comments from members of the Quebec government,
Lomiko has always maintained that it will follow all government
processes regarding macro energy policy, investment opportunities,
and permitting. Lomiko believes that the Quebec government must
maintain a fair approach and due process for studies and R&D in
the province and enable operators to move forward with their
grants, and with investment opportunities from IQ, without
pre-judging the project's merits ahead of its own formal provincial
consultation processes. For the full statement please see here:
https://lomiko.com/wp-content/uploads/2024/09/September-17-Lomiko-Media-Statement-EN.pdf
New R&D approach taken by Lomiko in environmentally
friendly air classification process
As part of its commitment to R&D and responsible development
of the graphite deposits at La Loutre, the Company is pleased to
initiate work with a private enterprise having expertise in air
classification technology. Graphite air classification involves a
four-step process that will separate the waste material from the
graphite without the use of water or chemicals to offer a
processing alternative that will help reduce water use to minimal
amounts and reduce environmental impacts.
This process, which does not rely on traditional floatation
processes, can help determine more effective processing of graphite
material. This meets the overall corporate strategy and mission to
become the most environmentally friendly and competitive developer
and producer of anode-grade graphite in North America. This option
will be evaluated in relation to other flotation processing methods
and studies. The technology preserves the graphite's crystallinity
structure and also greatly enhances the material's performance when
used in a lithium-ion battery by allowing better intercalation
through charge and discharge from the cathode to the anode.
Belinda Labatte, CEO and Interim Chair of the Board, commented:
“We are looking forward to initiating the regional exploration
program and applying air classification technology, as well as
other environmentally friendly solutions throughout our R&D and
study phase. Lomiko is a key partner of the Quebec battery and
energy transition strategy, and we intend to apply innovative
technologies to develop made-in-Quebec, Canada natural flake
graphite that is responsibly sourced, competitively priced and
provides for the needed graphite in the North American supply
chain. With the Government of Canada announcing a 100% surtax on
all Chinese-made EVs, effective next month, October 1st, 2024,
Lomiko is well positioned to become a valued domestic graphite
supplier for North American EV manufacturers.”
Corporate Update
Management will present or participate at the following
conferences and continue to lead discussions and community meetings
regarding the responsible development of graphite in Quebec,
Canada, to meet the long-term demand for this critical mineral in
North America.
- Benchmark World Tour 2024, September 24th, 2024, taking place
at Fasken, in Montreal, Quebec.
- Energy and Mines Toronto, The Decarbonized Mine, taking place
on November 12-13 at the Marriott Downtown, Toronto, Ontario.
- 6th annual Energy Transition and Emission Reduction Conference
for the Metals and Mining Industry, January 15-16, 2025, in
Toronto, Ontario.
Lomiko also announced that the Company’s virtual Annual and
Special Meeting will be held on December 19th, 2024.
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) 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 total amount of funds
available to the Company; 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); the Company’s ability to complete the Private
Placement and the Consolidation, , 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.
The FLI in this news release 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: the Company’s, ability to implement its overall
business strategy and to fund, explore, advance and develop each of
its projects, including results therefrom and timing thereof, the
impact of increasing competition in the mineral exploration
business, including the Company’s competitive position in the
industry, and 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.sedarplus.ca. 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 such forward-looking information. The
Company does not undertake to update or revise any 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240918604442/en/
Contact us at 1-833-4-LOMIKO or e-mail: info@lomiko.com.
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