# 4 3 9 - 7 1 8 4 1 2 0 t h S t r e e t , S u r r e y , B . C . V 3 W 0 M 6
January 31, 2012 TSX-V: LMR
LOMIKO HIRES EXPLORATION CONSULTANTS TO EXPLORE FOR HIGH
PURITY, LARGE CRYSTALLITE FLAKE GRAPHITE AT QUATRE MILLES
PROPERTY IN QUEBEC
Lomiko Metals Inc. (TSX-V: LMR; OTC: LMRMF; FSE: DH8B,
Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) (the
"Company" or "Lomiko") is pleased to
announce that it has engaged Consul-Teck Mineral Exploration
Consultants Inc. ("Consul-Teck") to explore the Quatre Milles
Graphite Property located in southwestern Quebec.
Combining three generations of experience in the exploration
field primarily in Quebec, Consul- Teck performs a wide range
of mineral exploration and geotechnical services. From
complete turn-key to customized solutions, Consul-Teck has
accumulated hands-on knowledge of the mineral exploration
process. Consul-Teck services include pre-fieldwork
consulting for analysis, compilation and historical data
management of existing sites or for planning an exploration
campaign.
"Lomiko's strategy is to engage Quebec exploration expertise
on the ground that allows for a quick start to exploration on
the Quatre Mille property," stated A. Paul Gill, CEO, Lomiko
Metals Inc., "Pin-pointing previous drill targets and
optimizing the exploration budget is a priority."
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.
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.
Graphicor geologists commented that the results of the
initial drill program were extremely encouraging and
recommended additional detailed drilling to properly
understand and evaluate the potential of the property.
Graphite Market
The price for flake graphite is $ 2000-$3000 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.
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, 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 Lavallée (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, or contact A.
Paul Gill at 604-729-
5312 or by email at: 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.
distribué par | Ce noodl a été diffusé par Lomiko Metals Inc. et initialement mise en ligne sur le site http://www.lomiko.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-31 18:39:07 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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