2016 Drill Program Completes 10 New Drill Holes at La Loutre
VANCOUVER, B.C. and MONTREAL, Dec. 09, 2016 (GLOBE NEWSWIRE) — Lomiko Metals Inc. (“Lomiko”) (TSX-V:LMR) (OTC:LMRMF) (FSE:DH8B) and Canada Strategic Metals Inc. (“Strategic Metals”) (TSX.V:CJC) (FSE:YXEN) (OTC-BB:CJCFF) are pleased to announce A 1550 M drill program of 10 holes was completed in the new Refractory Zone at the La Loutre Flake Graphite Property. On February 9th, 2016, Lomiko Metals and Canada Strategic announced a resource for the La Loutre Flake Graphite Property of 18.4 M Tonnes of 3.19% Indicated and 16.7 M Tonnes at 3.75% Flake Graphite Inferred with a cut-off of 1.5%. The sensitivity table also features 4.1 M Tonnes of 6.5% Indicated and 6.2 M Tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%. The Resource is calculated on the Graphene-Battery Zone only and does not include any previous or current holes in the new Refractory Zone.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ab1f061d-3037-4197-8ffa-ae8ff6642eac
The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28.67 km2) situated approximately 53 km east of Imerys Carbon and Graphite, formerly known as the Timcal Graphite Mine, North America’s only operating graphite mine, and 117 km northwest of the International Port of Montreal, key to shipping to North America and Europe. The Lac des Iles Property is directly west of the Imerys Graphite Mine. Lomiko is currently completing the 2nd option to acquire 80% of the La Loutre and Lac des Iles properties which requires $580,000 work expenditure between La Loutre property and other Canada Strategic properties.
The La Loutre Resource is constrained within a drilled area of approximately 900 m along the N150° striking trend of the graphitic paragneiss, 250 m across the strike and 225 m below surface. Geological interpretation and estimation were based on 62 NQ drill holes (totaling 8193.3 m) drilled by Lomiko and Canada Strategic Metals in 2014 and 2015.
Jean-Sebastien Lavallée (OGQ #773), Geologist, is a shareholder of both companies, President and Chief Executive Officer of the Canada Strategic and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
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.
CONTACT: A. Paul Gill 604-729-5312 email: firstname.lastname@example.org