Lomiko Metals starts drill program at La Loutre graphite project, Quebec

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Lomiko Metals Inc. [LMR-TSXV; LMRMF-OTCQB; DH8C-FSE] has begun an infill and extension drill program at its wholly-owned La Loutre graphite project, located approximately 180 km northwest of Montreal in the Laurentian region of Quebec. The program anticipates approximately 18,000 metres in 120 holes to be drilled at the Electric Vehicle or EV and the Battery zones.

Lomiko Metals has commissioned Breakaway Exploration Management of Quebec to design and operate the 2022 exploration drilling program at the La Loutre project and the drilling is being performed by Fusion Drilling. The company anticipates that the drilling program will take approximately four to five months to complete, depending on site conditions.

Lomiko has retained InnovExplo, a Quebec-based independent consulting firm in geology, mining engineering and sustainable development, to prepare an updated Ni 43-101 resource estimate for the La Loutre project following the completion of the drilling and assay results. The goal of the program is to build on the results of the positive preliminary economic assessment for the La Loutre property.

Belinda Labatte, ceo, stated: “Initiating the infill and extension drill program at the La Loutre graphite project is an important step in the project development as we look to increase confidence in our mineral resources. We also appreciate the ongoing engagement that is required with our communities as we move forward with this exploration program and the future studies of this project.”

The La Loutre project consists of one large, continuous block with 48 minerals claims totalling 2,867 hectares (28.7 km2). Lomiko Metals published a July 29, 2021, PEA estimate 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 1.5 million tonnes of graphite concentrate.

Lomiko is working with Critical Elements Lithium Corp. [CRE-TSXV; CRECF-OTCQX; F12-FSE] toward earning its 70% stake in the Bourier project as per the options agreement announced on April 27, 2021. The Bourier project site is located near Nemaska Lithium and Critical Elements southeast 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.


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