[Marinir] {Disarmed} Lomiko (TSX-V: LMR) Starts Exploring Quatre Milles Graphite Property
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Thu Jun 14 14:12:52 CEST 2012
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LOMIKO STARTS EXPLORATION AT THE PREVIOUSLY DRILLED
QUATRE MILLES GRAPHITE PROPERTY
LOMIKO METALS INC. (TSX-V: LMR
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=LMR®ion=C&lookup=symbol&snapshot=default
, OTC: LMRMF
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=LMRMF®ion=U&lookup=symbol&snapshot=default
, FSE: DH8B) is pleased to announce that an exploration crew form
Consul-Teck Exploration has started sampling and preparing for the
upcoming drilling at the Quatre Milles East Property which was drilled
in 1989, previous to National Instrument 43-101.
Lomiko entered the race to locate graphite in January, 2012 when it
optioned the Quatre Milles Graphite Property in Quebec to search for
large flake, crystallite graphite. Prices for flake graphite were
recently quoted at $ 2,200-$ 3,000 per tonne depending on flake size.
Graphite Blog www.graphiteblog.com indicates ina June 11, 2012 article
that Graphite consumption will increase if new, fast-recharging battery
systems under development are adopted in electric vehicles. 'The fast
charging systems are being complemented by advancements in battery
technology, and specifically Li-ion battery technology, which is one of
the driving forces behind the sustained demand for graphite. It so
happens, that a radical acceleration in the pace of electric car
development and popularity may be ‘around the corner'. Thanks to
evolving battery technology and better understanding of materials such
as graphite and its derivatives, the time needed to charge an electric
power only car battery back is quickly dropping from hours to minutes.
The prospect of convenient re-charging times, which may drop to the
amount of time required to fill up a tank with gasoline in a gas powered
engine will further boost battery evolution and demand for graphite."
For further detailed information on Lithium-Ion batteries, please view
the following:
View infographic on how lithium-ion batteries could be a growth driver
for graphite
http://www.visualcapitalist.com/portfolio/the-lithium-ion-battery-a-potential-growth-driver-for-graphite
or enter this url: http://bit.ly/L3VfjS
http://bit.ly/L3VfjS
On March 27, 2012, a 43-101 compliant report by Consul-Teck Exploration
Services regarding the Quatre Milles was accepted by the TSX-Venture
Exchange and was filed on Sedar (Canadian Securities Administrator
Website).
Consul-Teck has proposed a budget of $307, 028 for Phase I and a
contingent $724,041 for Phase II for work for the property in the
technical report. Lomiko is now proceeding with commencement of
exploration.
Lomiko's drilling will focus on verifying the areas of historical
high-grade graphite intersected previously by Graphicor on the property.
The historical results are detailed below. It is Lomiko's goal to
complete both Phase I & II and establish a flake graphite resource at
the Quatre Milles Property by December 2012.
Lomiko's Quatre Milles Graphite Property
The Quatre Milles Property is road accessible and is located
approximately 175 km northwest of Montreal and 17 km due north of the
village of Sainte-Veronique, Quebec. The property consists of 28
contiguous claims totaling approximately 1,600 hectares.
The property was originally staked and explored by Graphicor Resources
Inc. ("Graphicor") in the summer of 1989 based on the results of a
regional helicopter-borne EM survey. The underlying geology consists of
intercalated biotite gneiss, biotite feldspar gneiss, marble, quartzite
and calc-silicate lithologies of the Central Metasedimentary Belt of the
Grenville Province.
Historical Highlights
Graphicor completed reconnaissance mapping and prospecting as well as
ground geophysics and a 26 hole diamond drill program totaling 1,625
metres. The work identified several conductive trends in the central
portion of the property and at least three, relatively flat lying
graphitic beds.
Three surface samples were collected and analyzed returning results of
14.16% Cgf, 18.06% Cgf and 20.35% Cgf. 23 of the initial 26 drill holes
intersected graphite concentrations with graphite concentration in range
of 4.69% in hole Q90-1 to a highlight of 8.07% Cgf over 28.60 metres in
hole Q90-7. The highest individual assay was reported in hole Q90-10
reporting 15.48% Cgf over 0.50 metres. A table of results from the
43-101 indicates:
HOLE NO. FROM
(M) TO
(M) WIDTH
(M) GRADE
(% CGP)
Q90-1 8.94 10.46 1.52 7.33
Q90-2 28.68 30.13 1.45 10.38
Q90-3 16.23 17.84 1.61 4.09
Q90-4 9.4 14.1 4.7 3.95
Q90-5 2 3.9 1.9 2.07
Q90-5 22.13 23.25 1.12 10.52
Q90-6 32.54 41.19 8.65 8.07
Q90-6 43.47 44.05 0.98 3.87
Q90-7 3.94 32.54 28.6 8.07
Q90-8 1.54 2.16 0.62 14.89
Q90-8 5.23 8.05 2.82 7.45
Q90-9 2.05 3.1 1.05 8.47
Q90-9 5.76 6.8 1.04 10.86
Q90-10 2.14 5.54 3.4 8.02
Q90-10 7.03 7.61 0.58 10.59
Q90-10 8.53 9.03 0.5 15.48
Q90-10 9.27 11.24 1.97 12.37
Q90-10 14.16 15.46 1.3 4.26
Q90-11 26.82 34.02 7.2 4.63
Q90-12 0.94 8.53 7.59 8.6
Q90-12 38.16 43.61 5.45 3.79
Q90-13 0.69 10.28 9.59 4.64
Q90-13 40.95 43.14 2.19 3.82
Q90-14 5.56 7.22 1.66 8.12
Q90-15 2.21 5.59 3.38 9.76
Q90-16 NSV
Q90-17 15.48 18.63 3.15 8.11
Q90-17 21.43 23.67 2.24 13.29
Q90-17 36.77 47.97 11.2 5.88
Q90-17 57.15 58.21 1.06 9.53
Q90-17 59.54 69.82 10.28 5.99
Q90-18 10.68 12.9 2.22 8.12
Q90-19 47.8 49.25 1.45 9.16
Q90-19 50.42 58.49 8.07 5.72
Q90-20 13.51 16.98 3.47 5.81
Q90-21 2.8 4.98 2.18 5.56
Q90-22 17.37 20.04 2.67 2.58
Q90-23 NSV
Q90-24 1.78 4.14 2.36 3.77
Q90-24 12.32 13.09 0.77 4.2
Q90-24 16.86 18.66 1.8 4.96
Q90-25 19.69 21.24 1.55 3.67
Q90-25 25.27 26.65 1.38 9.66
Q90-26 NSV
The Company cautions that it has not had the chance to verify the
quality and accuracy of the historic sampling and drilling results
reported in this news release which predate the introduction of NI
43-101 and cautions readers not to rely upon them. The historic figures
were generated from sources believed to be reliable, however, they have
not been confirmed. Although the sampling and drilling results are
relevant, they have not been verified.
Graphite Market
The price for flake graphite is $ 2000-$4000 per tonne depending on
flake size and grade.
Graphite prices have been increasing in recent months and over the last
couple of years prices for large flake, high purity graphite (+80 mesh,
94-97%C) have more than doubled.
Graphite prices have almost tripled since 2005 due to the ongoing
industrialization of China, India and other emerging economies and
resultant strong demand from traditional steel and automotive markets.
Demand for graphite is expected to rise as electric vehicles and lithium
battery technology are adopted, nuclear reactors are built in China, and
if fuel cells and graphene patents become products.
China, which produces about 70 per cent of the world's graphite, is
seeing production and export growth leveling, and export taxes and a
licensing system have been instituted.
Europe and the USA have both indicated graphite is of economic
importance and has a supply risk (Critical Raw Materials for the EU,
July 2010).
Graphite Facts
Natural graphite comes in several forms: flake, vein, amorphous and
lump.
Southwestern Quebec is host to some of the most favorable geological
terrain for graphite exploration in Canada and is known to host graphite
resources, including the nearby Lac Des Iles mine operated by Timcal.
Graphite has many important new applications such as lithium-ion
batteries, fuel cells, and nuclear and solar power that have the
potential to create significant incremental demand growth.
There is roughly 20-30 times more graphite by weight needed to produce a
lithium-ion battery than there is lithium.
Of the 1.2 million tonnes of graphite produced annually, approximately
40 per cent is of the most desirable flake type.
High-growth, high-value graphite applications require large-flake and
high-purity graphite which is the prime exploration and development
target at the Quatre Milles Property.
Near-Term Strategy
Lomiko plans to mount an aggressive exploration campaign on the Quatre
Milles Graphite Property commencing with a complete compilation of
historic geologic work followed by surface mapping, prospecting and
follow-up diamond drilling.
Jean-Sebastien Lavallee (OGQ #773), geologist, a Qualified Person as
defined by National Instrument 43-101, has reviewed and approved the
technical content of this release.
For more information, review the website at www.lomiko.com
http://www.lomiko.com
, contact A. Paul Gill at 604-729-5312 or email: info at 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.
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