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Lomiko Metals Announces Definitive Agreement for Acquisition of Carmin Natural Flake Graphite Property in Southern Quebec
MONTREAL / Mar 03, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce that it has entered into an
About this update from Lomiko Metals Inc.
[{"type":"text","content":"MONTREAL / Mar 03, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce that it has entered into an agreement (the “Acquisition Agreement”) with SOQUEM and a private owner to acquire 100% of 17 mineral claims forming the Carmin project (the “Property”), subject to customary closing conditions expected to be completed within the next 3 to 4 weeks (the “Closing Date”). These claims cover 678 hectares (6,780 Sq km). The agreement was signed on March 2, 2023. The Property is located 40 km west of Mont Tremblant and situated north-east and contiguous to the La Loutre property where Lomiko has mineral rights (see Figure 1 below). The Property is accessible by road and forest road from Lac-des-Plages and the northern end of the claims are partially contiguous to the Papineau-Labelle Wildlife Reserve. Lomiko commits to not exploring or developing within 1km of park boundaries. The La Loutre and Carmin project site are located within the Kitigan Zibi Anishinabeg (KZA) First Nation’s territory and the KZA First Nation is part of the Algonquin Nation. KZA territory is situated within the Outaouais and Laurentides region. Belinda Labatte, CEO and director of Lomiko stated: “Our team is developing a regional and responsible approach to natural flake graphite development via organic growth of its La Loutre project, its six regional claims and this new claim acquisition. The Carmin property has the potential to add significant mineral resources and mineral reserves to La Loutre’s existing resource base. This can positively impact La Loutre project economics, and importantly, it provides for additional responsible site planning in the region. We also welcome SOQUEM as a shareholder of Lomiko and look forward to working with SOQUEM in the long term. The regional geophysical surveys being anticipated to be carried out in the region, in 2023, mark significant opportunities and actions towards creating a regional approach to developing natural flake graphite, that if developed can feed into the North American electric vehicle supply chain.” Carmin Property and historical works All work including the mineral resource and mineral reserve estimates are considered to be historic. The Property consists of the Carmin deposit which consists of three previously identified mineral occurrences ident...