- Results from the remaining 16 exploration diamond drill holes from the 2019 program at the Refractory Zone of the La Loutre graphite project
- 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.
- Next Step is to establish new resource estimate for the entire project including the 36 new drill holes completed since the 2016 resource estimate.
Vancouver, B.C. and Montreal, Que, July 09, 2019 (GLOBE NEWSWIRE) — Lomiko Metals Inc. (TSX-V:LMR, OTC:LMRMF, FSE:DH8C) (Lomiko or the “Companyâ€) and
Quebec Precious Metals Corporation (TSX.V:CJC, FSE:YXEP, OTC-BB:CJCFF)
(“QPMâ€) are pleased to announce the results from the remaining 16
exploration diamond drill holes received from the 2019 program (see
Table 1 below, and Figure 1)
at the Refractory Zone of the La Loutre graphite project (the
“Projectâ€). A total of 21 holes were completed on the Refractory Zone
for a total of 2,985 metres. The Project is owned by Lomiko (80%) and
QPM (20%).
“La Loutre has proven to be a large and high-grade
area worthy of further investment.†stated A. Paul Gill, CEO. “The
only operating graphite mine in North America is the Imerys Graphite
& Carbon at Lac-des-ÃŽles, 53 km northwest of La Loutre which
reported Proven reserves of 5.2 M Tonnes at a grade of 7.42 % Cg in July
1988 before the start of production.†(reference: Potentiel de la
minéralisation en graphite au Québec, N’Golo Togola, MERN, page 31,
Conférence Québec Mines, November 24 2016).
Although the
current focus is on the Refractory Zone, the Project was also subject of
an independent technical report in accordance with NI 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, 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 (“Cgâ€) 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 above-noted 2016 mineral resource does not
include the current results or the intercepts from the Refractory Zone
in 2016 which were as follows:
LL-16-01 – 7.74% Cg over 135.60 m including 16.81% Cg over 44.10 m
LL-16-02 – 17.08% Cg over 22.30 m and 14.80% Cg over 15.10 m
LL-16-03 – 14.56% Cg over 110.80 m
The
next task is to complete a new resource estimate in compliance with NI
43-101 for the entire Project including the 36 new drill holes completed
since the above-mentioned 2016 resource estimate.
Table 1:
Results of the 21 drill holes of the 2019 drill program. The width is
drill indicated core length. Insufficient data exists to determine true
width at this time.
| Hole ID # | UTM E | UTM N | Azimuth | Dip | Mineralization | Gp % |
| From(m) | To(m) | Interval (m) |
| LL-19-01 | 499426 | 5098072 | 66.7 | -50 | 3.00 | 10.50 | 7.50 | 18.85 |
| | 109.50 | 213.00 | 103.50 | 9.89 |
| Including: | 109.50 | 177.00 | 67.50 | 13.89 |
| LL-19-02 | 499364 | 5098071 | 62.1 | -50 | 114.80 | 117.00 | 2.20 | 8.62 |
| LL-19-03 | 499515 | 5097977 | 55.6 | -50 | 43.90 | 174.00 | 130.10 | 3.73 |
| Including: | 106.50 | 162.90 | 56.40 | 4.97 |
| LL-19-04* | 499567 | 5098041 | 65.9 | -50 | 3.00 | 93.00 | 90.00 | 2.75 |
| LL-19-05 | 499562 | 5097944 | 56.3 | -50 | 100.50 | 148.50 | 48.00 | 2.70 |
| LL-19-06 | 499614 | 5097980 | 63.3 | -50 | 5.50 | 30.00 | 24.50 | 6.81 |
| | 52.50 | 70.30 | 17.80 | 4.89 |
| LL-19-07 | 499644 | 5098001 | 66.1 | -50 | 6.00 | 84.00 | 78.00 | 2.31 |
| LL-19-08 | 499630 | 5097931 | 57.3 | -50 | 55.50 | 109.50 | 54.00 | 2.73 |
| LL-19-09 | 499654 | 5097957 | 63.1 | -50 | 27.60 | 86.50 | 58.90 | 8.05 |
| | 51.00 | 86.50 | 35.50 | 9.94 |
| LL-19-10 | 499587 | 5097909 | 62.9 | -50 | 102.00 | 108.00 | 6.00 | 3.54 |
| LL-19-11 | 499687 | 5097903 | 75.1 | -50 | 90.00 | 108.00 | 18.00 | 4.42 |
| Including: | 100.50 | 105.00 | 4.50 | 10.10 |
| LL-19-12 | 499641 | 5097888 | 69.1 | -50.00 | 93.00 | 124.50 | 31.50 | 1.26 |
| LL-19-13 | 499669 | 5097837 | 56.8 | -50 | 81.00 | 90.00 | 9.00 | 6.35 |
| | 106.50 | 136.50 | 30.00 | 1.19 |
| LL-19-14* | 499700 | 5097803 | 59.7 | -50 | 80.70 | 99.00 | 18.30 | 4.43 |
LL-19-15*
| 499751 | 5097832 | 64.8 | -50 | 51.00 | 167.90 | 116.90 | 4.80 |
| Including: | 152.70 | 167.90 | 15.20 | 18.04 |
| LL-19-16** | 499851 | 5097829 | 66.5 | -50 | 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 |
| LL-19-17* | 499894 | 5097804 | 78.2 | -50 | 15.00 | 62.30 | 47.30 | 7.56 |
| Including: | 51.00 | 62.30 | 11.30 | 17.45 |
| | 96.00 | 126.00 | 30.00 | 1.96 |
| LL-19-18 | 499919 | 5097767 | 69.6 | -50 | 3.00 | 36.20 | 33.20 | 3.50 |
| | 43.70 | 60.00 | 16.30 | 12.38 |
| | 69.80 | 72.00 | 2.20 | 12.38 |
| LL-19-19 | 499792 | 5097791 | 63.2 | -50 | 55.50 | 166.50 | 111.00 | 4.93 |
| Including: | 55.50 | 84.00 | 28.50 | 3.40 |
| Including: | 110.50 | 166.60 | 56.10 | 7.47 |
| Including: | 145.50 | 166.50 | 21.0 | 15.69 |
| LL-19-20 | 499839 | 5097766 | 69.5 | -50 | 34.30 | 40.50 | 6.20 | 4.07 |
| | 97.50 | 115.50 | 18.00 | 2.18 |
| | 118.30 | 124.10 | 5.80 | 16.00 |
| LL-19-21 | 499857 | 5097726 | 52.9 | -50 | 96.00 | 104.60 | 8.60 | 2.85 |
* Results announced in May 6, 2019 press release.
** Results announced in April 24, 2019 press release.
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 NW of the Lac-des-ÃŽles mine, formerly
known as the Timcal mine, North America’s only operating graphite mine.
It is accessible by driving NW from Montreal for a distance of
approximately 170 kilometres.
The 2019 exploration program is
managed by Consul-Teck Exploration Minière Inc. (“Consul- Teckâ€) of
Val-d’Or, Quebec, who designed the drilling campaign, supervised the
program and logged and sampled the core.
Quality Assurance/Quality Control
Consul-Teck
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 at a regular
interval 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 laboratory
facility 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 Cg using the C-IR18 method.
Qualified Person
Jean-Sébastien
Lavallée (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: [email protected].
On Behalf of the Board,
“A. Paul Gillâ€
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
Attachments
A. Paul Gill
Lomiko Metals Inc. (TSX-V: LMR)
6047295312
[email protected]
