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Lomiko Metals Announces Filing of Technical Report for Mineral Resources Estimate of La Loutre Natural Flake Graphite Property and Announces Adjustment on Resource Tonnage and Grade
MONTREAL / May 29, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce that it has filed the Minera
About this update from Lomiko Metals Inc.
[{"type":"text","content":"MONTREAL / May 29, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce that it has filed the Mineral Resource Estimate (MRE) Technical Report following National Instrument 43-101 – Disclosure Standards for Mining Projects on its La Loutre Project, where Lomiko has mineral rights. The technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada” and dated May 26, 2023 (with an effective date of May 11, 2023) was prepared for Lomiko by the firm InnovExplo of Val-d’Or. The independent technical report is available on SEDAR (www.sedar.com) under the Lomiko issuer profile. During the final validation and completion of the Technical Report, adjustments were made to the mineral resource estimate statement disclosed in the April 13, 2023, news release and therefore the mineral resource tonnage in all categories has been amended. The adjustments now show an increase of 184% versus the previously published increase of 195% in tonnage for the Indicated Mineral Resource Category. See the news release dated April 13, 2023 entitled “Lomiko announces Updated Mineral Resource Estimate for La Loutre Natural Flake Graphite Property in Southern Quebec Achieving 195% Increase in Tonnage in the Indicated Mineral Resource Category” which summarized certain key results, assumptions and estimates contained in the Technical Report filed on SEDAR. The adjustments also contributed to increasing the overall grade from 4.50% to 4.59% which removed lower grade material from all categories. Mineral resources adjustments are presented in Table 1 for the updated 2023 MRE statement which was filed. Table 1. Mineral Resource Estimate Statement of the La Loutre Property Deposit Cut-off (%) Indicated resource Inferred resource Tonnage (kt) Graphite (%) Graphite (kt) Tonnage (kt) Graphite (%) Graphite (kt) EV 1,5 24,267 5.80 1,407 3,067 4.29 132 Battery 1,5 40,429 3.86 1,562 14,384 3.60 518 TOTAL 64,696 4,59 2,969 17,452 3.72 650 Notes to accompany the Mineral Resource Estimate: 1. The independent and qualified persons for the mineral resource estimate, as defined by NI 43 101, are Marina Iund, P.Geo. (InnovExplo Inc.), Martin Perron, P.Eng. (InnovExplo Inc.)., Simon Boudreau, P.Eng. (InnovExplo Inc.). and Pierre Roy, P.Eng. (Soutex In...