Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the
"Company") announces that its team will participate in several
engagement activities in the Laurentian region. Lomiko's core
values of excellence, respect and ingenuity are at the heart of the
research and development of the La Loutre project.
It is in this spirit that the team will be present in the region
to participate in several engagement activities with citizens, with
the purpose to share the vision of the company and to provide
accurate information about the project. Lomiko's role as a
corporate citizen is to help communities understand the project,
answer questions, receive and discuss concerns in a transparent and
open manner, and collaborate in the exchange of ideas and
recommendations to develop a successful, sustainable net zero
climate project for future generations.
Highlights of award and funding announced May 16, 2024 (see
press release May 16, 2024)
- The recent U.S. and Canadian government funding support is part
of the bilateral relationship between Canada and the U.S., and
forms part of the Energy Transformation Task Force (ETTF) announced
in August 2022. This supports innovation in critical minerals
projects with the aim of securing the North American energy supply
chain and decarbonization.
- The Department of Defense ("DoD") Technology Investment
Agreement ("TIA") is specifically designed to support the ongoing
scientific research and development and environmental studies of
the La Loutre graphite project, in accordance with Lomiko's vision
and values, and in compliance with all Canadian and Quebec
regulations and procedures, including the Bureau d'audiences
publiques sur l'environnement (BAPE).
- All metallurgical studies within the framework of the Natural
Resources Canada contribution and DoD grant are aimed at furthering
studies into the transformation of the natural graphite product
into an anode material, i.e. the negative pole of the battery. In
particular, Lomiko is currently pursuing research into spherical
graphite production and testing in partnership with Corem, the
Quebec-based center of expertise and innovation in mineral
processing, National Research Council, also based in Quebec and
Polaris, based in the USA. On the basis of the results obtained to
date, and the recommendations from previous studies, Lomiko plans
to continue testing with our partners.
- The studies include all best practice environmental studies
including the integration of a decarbonized mine and progressive
reclamation model with independent experts. These studies will
provide a better understanding of the environment and the project,
and enable the Company to engage with the community at all stages
of development.
Belinda Labatte, CEO Interim Chair of the board stated: “The
funding is at the heart of the research and scientific needs of
Quebec and Canada's critical minerals strategy, and reflect our
intentions and actions to pursue our commitment to harmonious
development in the region. Lomiko has reconfirmed the suitability
of La Loutre's graphite as a battery anode material with several
tests, and we are enthusiastic about continuing this work with
experts and consultants primarily based in Quebec to develop the
battery industry in Quebec and Canada.”
With this in mind, Lomiko’s commitments are as follows:
- A new resource on the Lomiko team in the form of a Chief
Sustainability Officer in the Laurentians, who will be present at
all activities.
- A regular presence in the municipalities, starting this summer,
to be in proximity to local residents.
- Summer information sessions in the region's municipalities, the
first being July 21 in Duhamel.
- In addition to several ongoing meetings with partners, citizens
and elected officials, Lomiko will continue to engage with various
organizations and groups, as well as community members from the
Kitigan Zibi First Nation.
- Direct engagement with stakeholders in Quebec, and our partners
in the province and across Canada.
Lomiko's activities will be shared on various official
communication sources such as social media and the website.
Citizens can continue to communicate by e-mail at
communaute@lomiko.com or contact Cindy Valence, Chief
Sustainability Officer by telephone or text message at:
819-808-4043.
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite
development in southern Quebec. The La Loutre project site is
within the Kitigan Zibi Anishinabeg (KZA) First Nation’s territory.
The KZA First Nation is part of the Algonquin Nation, and the KZA
traditional territory is situated within the Outaouais and
Laurentides regions. Located 180 kilometers northwest of Montreal,
the property consists of one large, continuous block with 76
mineral claims totaling 4,528 hectares (45.3 km2).
The Property is underlain by rocks from the Grenville Province
of the Precambrian Canadian Shield. The Grenville was formed under
conditions that were very favorable for the development of
coarse-grained, flake-type graphite mineralization from
organic-rich material during high-temperature metamorphism.
Lomiko Metals published April 13, 2023 Updated Mineral Resource
Estimate (MRE) (“NI 43-101 Technical Report and Mineral Resource
Estimate Update for the La Loutre Project, Quebec, Canada”,
prepared by InnovExplo Inc. dated May 11, 2023) which estimated
64.7 million tonnes of Indicated Mineral Resources averaging 4.59%
Cg per tonne for 3.0 million tonnes of graphite, a tonnage increase
of 184%. Indicated Mineral Resources increased by 41.5 million
tonnes as a result of the 2022 drilling campaign, from 17.5 million
tonnes in 2021 MRE, with additional Mineral resources reported
down-dip and within marble units resulted in the addition of 17.5
million tonnes of Inferred Mineral Resources averaging 3.51% Cg per
tonne for 0.65 million tonnes of contained graphite; and the
additional 13,107 metres of infill drilling in 79 holes completed
in 2022 combined with the refinement of the deposit and structural
models contributed to the addition of most of the Inferred Mineral
Resources to the Indicated Mineral Resource category, relative to
the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07
per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic
carbon).
In addition to La Loutre, Lomiko has earned-in its 49% stake in
the Bourier Project from Critical Elements Lithium Corporation as
per the option agreement announced on April 27th, 2021. The Bourier
project site is located near Nemaska Lithium and Critical Elements
south-east 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.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko
Metals Inc.
For more information on Lomiko Metals, review the website at
www.lomiko.com. For more information, contact 1-833-456-6456 or
1-833-4-LOMIKO or email: info@lomiko.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within
the meaning of the applicable Canadian securities legislation that
is based on expectations, estimates, projections and
interpretations as at the date of this news release. The
information in this news release about the Company; and any other
information herein that is not a historical fact may be
“forward-looking information” (“FLI”). All statements, other than
statements of historical fact, are FLI and can be identified by the
use of statements that include words such as “anticipates”,
“plans”, “continues”, “estimates”, “expects”, “may”, “will”,
“projects”, “predicts”, “proposes”, “potential”, “target”,
“implement”, “scheduled”, “intends”, “could”, “might”, “should”,
“believe” and similar words or expressions. FLI in this new release
includes, but is not limited to: the Company’s objective to become
a responsible supplier of critical minerals, exploration of the
Company’s projects, including expected costs of exploration, and
timing to achieve certain milestones, including timing for
completion of exploration programs; the Company’s ability to
successfully fund, or remain fully funded for the implementation of
its business strategy and for exploration of any of its projects
(including from the capital markets); any anticipated impacts of
COVID-19 on the Company’s business objectives or projects, the
Company’s financial position or operations, and the expected timing
of announcements in this regard. FLI involves known and unknown
risks, assumptions, and other factors that may cause actual results
or performance to differ materially, and statements relating to the
intended use of proceeds of the Offering and the receipt of final
acceptance of the TSX Venture Exchange. This FLI reflects the
Company’s current views about future events, and while considered
reasonable by the Company at this time, are inherently subject to
significant uncertainties and contingencies. Accordingly, there can
be no certainty that they will accurately reflect actual results.
Assumptions upon which such FLI is based include, without
limitation: current market for critical minerals; current
technological trends; the business relationship between the Company
and its business partners; ability to implement its business
strategy and to fund, explore, advance and develop each of its
projects, including results therefrom and timing thereof; the
ability to operate in a safe and effective manner; uncertainties
related to receiving and maintaining exploration, environmental and
other permits or approvals in Quebec; any unforeseen impacts of
COVID-19; impact of increasing competition in the mineral
exploration business, including the Company’s competitive position
in the industry; general economic conditions, including in relation
to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified
in their entirety by this cautionary statement, the
“Forward-Looking Statements” section contained in the Company’s
most recent management’s discussion and analysis (MD&A), which
is available on SEDAR at www.sedar.com, and on the investor
presentation on its website. All FLI in this news release are made
as of the date of this news release. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update or revise any such forward-looking statements
or forward-looking information contained herein to reflect new
events or circumstances, except as may be required by applicable
securities laws.
Neither the 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 news release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240617364930/en/
For all media requests Cindy Valence Chief Sustainability
Officer c.valence@lomiko.com
Lomiko Metals (TSXV:LMR)
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