Lomiko Drilling Permit Clears the Way for Drilling Focused on Significant Resource Upgrade
Donnerstag, 10.11.2016 17:05 von DGAP
DGAP-News: Lomiko Metals Inc. / Key word(s): Miscellaneous
Lomiko Drilling Permit Clears the Way for Drilling Focused on Significant
Resource Upgrade
10.11.2016 / 17:01
The issuer is solely responsible for the content of this announcement.
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Vancouver, British Columbia and Montreal, Quebec--(Newsfile Corp. -
November 10, 2016) - Lomiko Metals Inc. (TSXV: LMR) (OTCQX: LMRMF) (FSE:
DH8B) ('Lomiko') and Canada Strategic Metals Inc. (TSXV: CJC) (FSE: YXEN)
(OTC Pink: CJCFF) ('Strategic Metals'') are pleased to announce a permit
has been received for 1500-2000 metres of drilling for the La Loutre
Property. The work will focus on the new Refractory Zone discovered in
December, 2015. Although the zone has excellent results, there was not
enough drill holes completed to add the zone to the 43-101 Resource
Calculation released February 9th, 2016.
[image:
http://orders.newsfilecorp.com/files/1944/23464_drillmap-resized.jpg]
Current 86 Lomiko Flake Graphite Drill Holes Completed at La Loutre, Quebec
To view an enhanced version of this graphic, please visit:
http://orders.newsfilecorp.com/files/1944/23464_drillmap.jpg
'The Properties are located close to the Imerys Carbon and Graphite Mine
and benefits from similar infrastructure advantages and similar flake
graphite grade, deposit size and near surface mineralization amenable to
low cost, small footprint extraction. All of these elements make this an
excellent candidate for a positive Pre-Economic Assessment.', stated A.
Paul Gill, CEO, Lomiko Metals Inc., 'Additional resource definition in the
Refractory Zone will bolster the PEA.'
On February 9th, 2016, Lomiko Metals and Canada Strategic announced
resource for the La Loutre Flake Graphite Property of 18.4 M Tonnes of
3.19% Indicated and 16.7 M Tonnes at 3.75% Flake Graphite Inferred with a
cut-off of 1.5%. The sensitivity table also features 4.1 M Tonnes of 6.5%
Indicated and 6.2 M Tonnes at 6.1% Flake Graphite Inferred with a cut-off
of 3%. The Resource is calculated on the Graphene-Battery Zone only and
does not include recent high grade intercepts of 28.5 Metres of 16.53% Cg
and 21.5 Metres of 11.53% Cg reported January 6, 2016 and 9% over 90.75
metres reported September 24th 2015 from the Refractory Zone.
The La Loutre property consists of contiguous claim blocks totalling
approximately 2,867.29 hectares (28.67 km2situated approximately 53 km east
of Imerys Carbon and Graphite, formerly known as the Timcal Graphite Mine,
North America's only operating graphite mine, and 117 km northwest of the
International Port of Montreal, key to shipping to North America and
Europe. The Lac des Iles Property is directly west of the Imerys Graphite
Mine. Lomiko is currently completing the 2nd option to acquire 80% of the
La Loutre and Lac des Iles properties which requires $580,000 work
expenditure between La Loutre property and others Canada Strategic
properties.
[image: http://orders.newsfilecorp.com/files/1944/23464_flak-resized.jpg]
Magnified view of Quebec Flake Graphite - an excellent natural source of
anode material for lithium-ion batteries
To view an enhanced version of this graphic, please visit:
http://orders.newsfilecorp.com/files/1944/23464_flak.jpg
The La Loutre Resource is constrained within a drilled area of
approximately 900 m along the N150° striking trend of the graphitic
paragneiss, 250 m across the strike and 225 m below surface. Geological
interpretation and estimation were based on 62 NQ drill holes (totaling
8193.3 m) drilled by Lomiko and Canada Strategic Metals in 2014 and 2015.
Qualified persons
Jean-Sebastien Lavallee (OGQ #773), Geologist, is a shareholder of both
companies, President and Chief Executive Officer of the Canada Strategic
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.
Click on, or paste the following link into your web browser, to view
the associated documents
http://www.newsfilecorp.com/release/23464
News Source: Newsfile
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10.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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Language: English
Company: Lomiko Metals Inc.
Canada
ISIN: CA54163Q1028
End of News DGAP News Service
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519663 10.11.2016