(Vancouver, British-Columbia and Montreal, Quebec) July 9, 2019 – Lomiko Metals Inc. (TSX-V:LMR, OTC:LMRMF, FSE:DH8C) (Lomiko or the “Company”) and Quebec Precious Metals Corporation (TSX.V:CJC, FSE:YXEP, OTC-BB:CJCFF)(“QPM”) are pleased to announce the results from the remaining 16 exploration diamond drill holes received from the 2019 program (see Table 1 below, and Figure 1) at the Refractory Zone of 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. The Project is owned by Lomiko (80%) and QPM (20%).
“La Loutre has proven to be a large and high-grade area worthy of further investment.” stated A. Paul Gill, CEO. “The only operating graphite mine in North America is the Imerys Graphite & Carbon at Lac-des-Îles, 53 km northwest of La Loutre which reported Proven reserves of 5.2 M Tonnes at a grade of 7.42 % Cg in July 1988 before the start of production.” (reference: Potentiel de la minéralisation en graphite au Québec, N’Golo Togola, MERN, page 31, Conférence Québec Mines, November 24 2016).
Although the current focus is on the Refractory Zone, the Project was also subject of an independent technical report in accordance with NI 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, 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 above-noted 2016 mineral resource does not include the current results or the intercepts from the Refractory Zone in 2016 which were as follows:
LL-16-01 – 7.74% Cg over 135.60 m including 16.81% Cg over 44.10 m
LL-16-02 – 17.08% Cg over 22.30 m and 14.80% Cg over 15.10 m
LL-16-03 – 14.56% Cg over 110.80 m
The next task is to complete a new resource estimate in compliance with NI 43-101 for the entire Project including the 36 new drill holes completed since the above-mentioned 2016 resource estimate.