Lomiko Metals Inc. [LMR-TSXV; LMRMF-OTC; DH8C-FSE] reported the sixth round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre graphite property, located approximately 180 km northwest of Montreal in the Laurentian region of Quebec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) first nations territory.
Belinda Labatte, CEO and director, stated: “We are pleased that significant intervals encountered in all 6 holes of the Battery zone assays validate the continuity and the quality of the mineralization. Similar to the EV zone results, the Battery zone shows significant mineralization over large intervals in the centre of the deposit. The highlight is hole LL-22-054 where we have 4.49% Cg [graphitic carbon] over a 144.3-metre interval, including 8.43% Cg over a 55.5-metre interval. We look forward to receiving the results from the remaining 20 holes in Battery zone.”
Highlights include assay results from the first six of 26 holes drilled at Battery zone with consistent, near surface graphite mineralization in mid-north section of Battery zone.
There were high-grade graphite values and significant widths in all six drill holes. Best interval was 4.49% Cg over 144.3 metres from 46.7 to 191 metres in hole LL-22-054, including 8.43% Cg over 55.5 metres from 46.7 to 102.2 metres.
Multiple graphite layers were encountered in holes LL-22-056, LL-22-057 and LL-22-058. Flake graphite mineralization is visually coarse-grained, indicating that the flake sizing may be bigger than in the EV zone.
The drill program at La Loutre began May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive preliminary economic assessment (PEA) for the La Loutre project as announced in the July 29, 2021, press release.
Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated National Instrument 43-101-compliant resource estimate for the La Loutre project following the completion of the 2022 drill program.
Lomiko Metals published a July 29, 2021 NI 43-101 compliant PEA which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. the Report Authors.