Business
Lomiko Receives Drilling Permit for 75 - 100 Drill Holes at La Loutre Crystalline Flake Graphite Property and Monitors Sales and Revenue Developments at Graphene 3D Lab
VANCOUVER, BC, NEW YORK, NY, & MONTREAL, QC / ACCESSWIRE / July 6, 2015 / LOMIKO METALS ...
About this update from Lomiko Metals Inc.
[{"type":"text","content":"Lomiko Receives Drilling Permit for 75 - 100 Drill Holes at La Loutre Crystalline Flake Graphite Property and Monitors Sales and Revenue Developments at Graphene 3D LabVANCOUVER, BC, NEW YORK, NY, & MONTREAL, QC / ACCESSWIRE / July 6, 2015 / LOMIKO METALS INC. (TSXV: LMR) (OTCQX: LMRMF) (FSE: DH8B.F) (the \"Company\") and Canada Strategic Metals (TSXV: CJC) are pleased to announce they have received two drilling permit for 5,000 metres each at the La Loutre Crystalline Flake Graphite Properties located in Quebec.\"Approximately 10,000 metres of drilling are planned at La Loutre. Drilling should reach a vertical depth of no more than 150 meters, the 'rule-of-thumb' physical depth limit of a standard open pit,\" stated A. Paul Gill, CEO, \"Our goal is to become a low-cost producer of graphite in Quebec. A good example of an open pit mining operation established on this principal is the Imerys Carbon and Graphite Mine located nearby.\" After the current program is complete, the property will be assessed for a resource and if warranted, a pre-economic assessment (PEA). The primary focus are intersections which start within 15 metres of the surface as highlighted below. Viable near surface mineralization reduces the amount of waste rock that needs to be moved, reducing overall cost of the project and reducing environmental impact.Recent PEA publications in the graphite industry indicating capital expenditures of $ 100 million dollars or more for developing a project and an oversupply of graphite projects requiring sustained prices of over $ 2500 per tonne prices stress the need to deliver a low CAPEX Project with sustainable costs in a small, volatile market. In a January 7, 2015 release, the company indicated that to be economically viable, La Loutre must be able to deliver 1 Million Tonnes of >94% Purity Graphite. To achieve this, the minimum resource must be at least 20 Million Tonnes of 5% Gp. Setting high standards is required to stand out in the current and future graphite market. In addition, Lomiko hopes to define material >99.99% Graphite Crystalline Flake to serve as the base material for testing graphite for the ultra-pure carbon market and for conversion to graphene and use in 3D Printing and Supercapacitors. On March 16, 2015 Graphene 3D Lab (TSX-V: GGG, OTCQB: GPHBF) has announced that it launched commercial s...