Lomiko Metals and Quebec Precious Metals report new intercepts 116.9 m of 4.80% including 15.2 m of 18.04% and 47.3 m of 7.56% including 11.3 m of 17.45% flake graphite at the La Loutre Project
Lomiko Metals Inc. (TSX-V:LMR, OTC:LMRMF, FSE:DH8C) (Lomiko or the “Company”) and Quebec Precious Metals Corp. (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM”) are pleased to announce the results from four (4) new exploration diamond drill hole received from the 2019 program (see Table 1 below, and Figure 1) at the Refractory Zone at the La Loutre graphite project (the “Project”). A total of 21 holes were completed on the Refractory Zone for a total of 2,985 metres. Results from the remaining 16 holes will be reported as they are received and compiled. Lomiko owns 80% of the Project.
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Drilling Map with Highlighted Results from May 2019 (Photo: Business Wire)
“We continue to see wide intercepts of graphite and new sections of very high-grade values. High grades are a more common occurrence in the Refractory Zone,” stated A. Paul Gill, CEO.
Table 1: Results of the drill holes of the 2019 drill program. The width is drill indicated core length. Insufficient data exists to determine true width at this time.
| Mineralization | |||||||||||||||||
| Drill Hole # | Easting (UTM) | Northing (UTM) | Azimuth | Dip | From (m) | To (m) | Interval (m) | Cg % | |||||||||
| LL-19-04 | 499567 | 5098041 | 65.9 | -50 | 3.00 | 93.00 | 90.00 | 2.75 | |||||||||
| 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 | ||||||||||||||
*Results announced with the April 24, 2019 press release.
The drill campaign focuses on the Refractory Zone. An independent technical report in accordance with National Instrument 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, was 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 (“Cg”) 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 Project also includes several untested anomalies.
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 E of Imerys Carbon & Graphite, formerly known as the Timcal graphite mine, North America’s only operating graphite mine, and located 117 km NW of Montreal. The mine has reported grades of 7.46% Cg over its 22-year life.
The 2019 exploration program is managed by Consul-Teck Exploration 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 Exploration 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-Sebastien Lavalleìe (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: 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
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./ContentItem/FormatLomiko's $LMR.CA $LMRMF La Loutre Refractory Zone continues to delivery high-grade results
Contact
A. Paul Gill, 604-729-5312
info@lomiko.com.