- Lomiko Metals (LMR) announced a second round of analytical results from its La Loutre Graphite property
- The results come from an infill and extension exploration program from the property
- The drilling program at La Loutre began on May 15, 2022
- The program’s goal is to define the deposit and provide necessary data to increase confidence in the mineral resource
- Other program goals include building on the PEA’s positive results from July 2021
- Shares of Lomiko are unchanged at C$0.04 as of 11:42 a.m. EDT
Lomiko Metals (LMR) announced a second installment of analytical results from its wholly-owned La Loutre Graphite property.
The results come from the infill and extension drill program at the property, which is located northwest of Montreal in Quebec’s Laurentian region. The initial drill program aimed to study up to 18,000 meters in both zones, but due to outside factors, over 13,100 meters were completed.
According to the company, the drill program at the property began on May 15 with the goal of further defining the deposit and providing necessary data in order to increase confidence in the mineral resource.
In total, 18 holes were drilled at the southern end of the EV Zone in 2022 and demonstrated strong graphite mineralization over significant widths. The company said this also confirms the potential of the area for future graphite resources.
Additional goals of the program were to build on the property’s positive preliminary economic assessment results, which were announced in July 2021.
On that note, highlights from the program include:
- Strong graphite results from 8 additional holes drilled at the southern extension of the EV Zone
- Broad zones of flake graphite mineralization including 2.76% Cg (graphitic carbon) over 99.0m from 30.5 to 129.5m in hole LL-22-014, including wide zones of 15 and 25.5 m at 4.95 and 4.55 % Cg respectively
- Wide intervals of near-surface, high-grade flake graphite mineralization including 11.64% Cg over 42.0m from 7.0 to 49.0m in hole LL-22-018, including 36m wide mineralization at 13.44% Cg
- The second best result was encountered in hole LL-22-023 at 14.86% Cg from 126.0 to 132.0 meters
- Numerous intersections remain open; additional assay results are pending
- Drill assay results confirm the potential to enlarge the EV Zone graphite mineralization southward
“We look forward to more results in the next 35 holes in the EV zone, which will be released as more assays are received,” Belinda Labatte, CEO and director of Lomiko Metals, said in a press release. Our vision is to become a responsible operator and part of a climate success story in Southern Quebec.”
Lomiko Metals holds 100 per cent interest in the La Loutre graphite project, which sits within the Kitigan Zibi Anishinabeg First Nations Territory.
According to its PEA published in July 2021, the project has a 15-year mine life expectancy producing 100,000 tonnes of graphite concentrate at 95 per cent CG per year.
Shares of Lomiko Metals are unchanged at C$0.04 as of 11:42 a.m. EDT on Tuesday.