Vancouver, British Columbia--(Newsfile Corp. - May 7, 2019) - Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C) announced 4 new drill results from its 2019 drill program at the Refractory Zone at the La Loutre graphite project. The La Loutre property consists of a large contiguous block of claims totaling 2,509 hectares located 117 kilometers northwest of Montreal and 53 kilometers east of the Lac des Iles graphite mine in southern Quebec, Canada.
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The latest results were highlighted by intercepts of 116.9 meters of 4.80% including 15.2 meters of 18.04% and 47.3 meters of 7.56% including 11.3 meters of 17.45% flake graphite. The newest results are from a 2,985 meter drill program of 21 holes with the remaining 16 holes yet to be received and reported.
This program is focused on the higher-grade Refractory Zone, a zone located approximately 400 meters north of the company's Graphene-Battery Zone which has a NI 43-101 resource estimate, completed in March 2016, of 18.4 million tonnes of 3.19% carbon flake graphite indicated and 16.7 million tonnes of 3.75% inferred using a 1.5% cut-off grade.
The latest drill program has been focused to the south of previous drilling, toward the Graphene-Battery resource, with 4 of the latest high-grade results extending the zone more than 400 meters from the 2015/16 program drilled on the northern end of the Refractory Zone. Based on geophysical data, the 2016 drill results along with the latest results, the strike length is estimated to be at least 900 meters in length.
The remaining 16 holes largely fill in the area between the latest results and the previous area to the north.
The March 2016 NI 43-101 report identified the higher-grade Refractory Zone as having potential to have a resource estimate and recommended this drill program.
A. Paul Gill, CEO, stated: "We continue to see wide intercepts of graphite and new sections of very high-grade values. High grades are a more common occurrence in the Refractory Zone."
Lomiko Metals owns 80% of the La Loutre graphite project with Quebec Precious Metals (TSXV: CJC) owning the remaining 20%.
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