Lomiko & Canada Strategic Metals Start Drilling at La Loutre

- November 18th, 2016

Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B) and Canada Strategic Metals Inc. have started exploration at the La Loutre flake graphite property in Quebec. The joint venture plans to drill 1,500 to 2,000 metres in 10 to 12 drill holes. The work will focus on the new Refractory zone discovered in December, 2015. Although the zone has had high-grade results, not enough drill holes were completed to add the zone to the National Instrument 43-101 resource calculation released Feb. 9, 2016.

Drilling for high grade, near surface flake graphite begins at La Loutre.
Lomiko Metals Inc. (TSXV:LMR,OTCQX:LMRMF,FSE:DH8B) and Canada Strategic Metals Inc. have started exploration at the La Loutre flake graphite property in Quebec. The joint venture plans to drill 1,500 to 2,000 metres in 10 to 12 drill holes. The work will focus on the new Refractory zone discovered in December, 2015. Although the zone has had high-grade results, not enough drill holes were completed to add the zone to the National Instrument 43-101 resource calculation released Feb. 9, 2016.
Highlights from the Refractory zone

  • 28.5 metres of 16.53 per cent graphite;
  • 21.5 metres of 11.53 per cent Cg;
  • 90.7 metres of 9.00 per cent Cg.

On Feb. 9, 2016, Lomiko Metals and Canada Strategic announced a resource for the La Loutre flake graphite property of 18.4 million tonnes of 3.19 per cent flake graphite indicated and 16.7 million tonnes of 3.75 per cent flake graphite inferred with a cut-off of 1.5 per cent. The sensitivity analysis also features 4.1 million tonnes of 6.5 per cent indicated and 6.2 million tonnes at 6.1 per cent flake graphite inferred with a cut-off of 3 per cent. The resource is calculated on the Graphene-Battery zone only and does not include recent high-grade intercepts of 28.5 metres of 16.53 per cent Cg and 21.5 metres of 11.53 per cent Cg reported Jan. 6, 2016, and 9 per cent over 90.75 metres reported Sept. 24, 2015, from the Refractory zone.
The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28.67 square kilometres situated approximately 53 km east of the Imerys carbon and graphite mine, formerly known as the Timcal graphite mine, North America’s only operating graphite mine, and 117 km northwest of the international port of Montreal, key to shipping to North America and Europe. The Lac des Iles property is directly west of the Imerys graphite mine. Lomiko is currently completing the second option to acquire 80 per cent of the La Loutre and Lac des Iles properties, which requires $580,000 work expenditure between La Loutre property and other Canada Strategic properties.
The La Loutre resource is constrained within a drilled area of approximately 900 metres along the north 150-degree-striking trend of the graphitic paragneiss, 250 m across the strike and 225 m below surface. Geological interpretation and estimation were based on 62 NQ drill holes (totalling 8,193.3 m) drilled by Lomiko and Canada Strategic Metals in 2014 and 2015.
Qualified persons
Jean-Sebastien Lavallee (OGQ No. 773), geologist, a shareholder of both companies, president and chief executive officer of the Canada Strategic, and a qualified person under NI 43-101, has reviewed and approved the technical content of this release.
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