VANCOUVER, British Columbia and MONTREAL, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (“Lomiko”) (TSX-V:LMR) (OTC:LMRMF) (FSE:DH8B) and Canada Strategic Metals Inc. (“Strategic Metals””) (TSX-V:CJC) (FSE:YXEN) (OTC-BB:CJCFF) are pleased to announce a permit has been received for 1,500-2,000 metres of drilling for the La Loutre Property. The work will focus on the new Refractory Zone discovered in December, 2015. Although the zone has excellent results, there was not enough drill holes completed to add the zone to the 43-101 Resource Calculation released February 9th, 2016.
"The Properties are located close to the Imerys Carbon and Graphite Mine and benefits from similar infrastructure advantages and similar flake graphite grade, deposit size and near surface mineralization amenable to low cost, small footprint extraction. All of these elements make this an excellent candidate for a positive Pre-Economic Assessment," stated A. Paul Gill, CEO, Lomiko Metals Inc., “Additional resource definition in the Refractory Zone will bolster the PEA.”
On February 9th, 2016, Lomiko Metals and Canada Strategic announced resource for the La Loutre Flake Graphite Property of 18.4 M Tonnes of 3.19% Indicated and 16.7 M Tonnes at 3.75% Flake Graphite Inferred with a cut-off of 1.5%. The sensitivity table also features 4.1 M Tonnes of 6.5% Indicated and 6.2 M Tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%. 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% Cg and 21.5 Metres of 11.53% Cg reported January 6, 2016 and 9% over 90.75 metres reported September 24th, 2015 from the Refractory Zone.
The La Loutre Property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28.67 km2 situated approximately 53 km east of Imerys Carbon and Graphite, 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 2nd option to acquire 80% 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 m along the N150° 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 (totaling 8193.3 m) drilled by Lomiko and Canada Strategic Metals in 2014 and 2015.
Qualified Persons
Jean-Sebastien Lavallée (OGQ #773), Geologist, a shareholder of both companies, President and Chief Executive Officer of Canada Strategic 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.