Drill Permit Issued for Lomiko’s La Loutre Crystalline Flake Graphite Property in Quebec
October 6, 2014 (Source: Marketwired) — Lomiko Metals Inc. (“Lomiko”) (TSX VENTURE:LMR)(PINKSHEETS:LMRMF)(FRANKFURT:DH8B) and Canada Strategic Metals Inc. (“Strategic Metals” or the “Company”) (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are very pleased to announce that a drilling permit for the La Loutre Crystalline Flake Graphite Property has been issued which allows for up to 29 drill holes. On September 23, 2014 Lomiko optioned 40% interest in the La Loutre Crystalline Flake Graphite Property located in Quebec last month. A full set of results was reported in that news release.
The goal of the exploration program is to identify high-grade, near-surface graphite mineralization suitable for conversion to battery-grade graphite. The graphite industry could see exponential growth based on new demand for lithium-ion batteries, which use 10 to 15 times as much graphite as lithium.
Telsa Motor Cars and Panasonic announced a new Lithium-ion Giga-factory in Nevada which is estimated to double the yearly supply of Li-ion batteries by 2020. Currently, synthetic graphite with consistent carbon purity of 99% or more is used in Li-ion batteries. This effects the graphite market in two ways. One, the price of synthetic graphite is likely to increase based on increased demand for all graphite products. Two, if a natural, cost-effective source of consistently high carbon purity graphite is derived from a property, groups such as Telsa could use the material directly in their batteries.
Of particular interest to Lomiko was an area of the property which reported grab samples up to 22.04% Carbon Flake Graphite (CFG) and Carbon Purity Test results reporting up to 100.00% Carbon Purity in the Large and Extra Large Flake Graphite.
Graphite grab sample assay results derived from a recent sampling and mapping program on the has confirmed a graphite bearing structure covering an area approximately 7 kilometers by 1 kilometer with results of up to 22.04% graphite in multiple parallel zones of 30-50 meters wide. Another area has also been identified covering approximately 2 kilometers by 1 kilometer in multiple parallel zones of 20-50 meters wide which includes results up to 18% graphite. Grab samples are selective by nature and are unlikely to represent the average grade of a deposit. The drilling program is designed to test these areas.
Jean-Sebastien Lavallée (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.
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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