Lomiko Metals posts industrial and corporate update
Lomiko Metals Inc. [TSXV: LMR] provided a graphite industry update and corporate update.
Gordana Slepcev, CEO, President, and Director, stated: “We are excited to see that world leaders are focusing on what matters most and obviously, critical minerals and materials come to the forefront of global agendas. Canada has the potential to lead the world and establish its own security and trading position based on the minerals needed for the tech and energy transition, and specifically for graphite, deemed one of the six priority minerals in Canada. These macro trends will positively position developers like Lomiko and create value for shareholders, stakeholders and rightsholders, and all Canadians as it will boost economic development.”
Industry Update: The context for Canadian graphite and investors is strong as it positions itself for global leadership. In the article DeepDive: “A new strategy for resilient global leadership in natural resources and manufacturing”, published on June 24, Canada’s resource potential for graphite is indicated as “8th largest producer and reserves”. This underlines the importance of the G7 Statement by the Government of Canada: “This will include anticipating critical minerals shortages, coordinating responses to deliberate market disruption, and diversifying and onshoring, where possible, mining, processing, manufacturing, and recycling.” The Canadian government has also indicated that G7 countries and their allies will form a “critical minerals production alliance” to stockpile and develop materials.
According to the Government of Canada website, China holds the largest reserves of graphite, followed by Brazil and Mozambique, with these three countries collectively accounting for 63% of the world’s graphite reserves.
Lomiko has been steadfast in its vision to advance its project to Feasibility Studies and provide an important additional source of Canadian graphite to the North American supply chain and compete globally. Graphite has many industrial uses, including battery and energy storage applications. The research at hand focuses on many industrial applications, especially developing anode material for use in batteries. Pre-feasibility studies involve numerous studies conducted by third-party independent experts, with the majority located in Quebec.
Corporate update – Bourier: The company entered into an agreement with Critical Elements Lithium Corp. [TSXV: CRE; OTCQX: CRECF; FSE: F12] dated July 2, 2025, whereby the company will dispose of its 49% interest in the Bourier property in consideration for $30,000 cash. The board of directors approved the agreement and its terms.
The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory, northern 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. Three years of exploration have yielded no significant results in lithium, gold, or base metals and the board of directors has agreed that graphite and its early-stage antimony project in Newfoundland are a better use of the company’s resources.
The company further advises that it will not continue payments to be listed on the OTCQX.
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 km 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 an updated Mineral Resource Estimate (MRE) in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, prepared by InnovExplo on 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 company also holds interests in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory.
The graphite portfolio consists of 328 claims in total on seven early-stage projects covering 18,622 hectares in southern Quebec. Ruisseau – grades up to 27.9% carbon graphite (% Cg) from four distinct high grade mineralized zones that are over 3km long: Meloche – grades up to 13.3% Cg from two distinct mineralized clusters; Tremblant – grades up to 11.6% Cg from numerous, widespread spot anomalies; and Dieppe – grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct mineralized cluster.
Boyd – 8 samples grades range from 5.61% Cg to 17.10 %Cg with all samples above 5.00% Cg.
In addition to La Loutre, Lomiko has acquired claims in The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake.
This property is on the same trend as the past-producing antimony mine Beaver Brook, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). Trenching exposed the rocks, resulting in grab samples to 59.43 g/t Au, 11.10% Sb, 7.00% Zn, 72.90 g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite.