Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") announces the Company has received conditional approval and will apply to the TSX Venture Exchange (the "Exchange") to close its non-brokered private placement (the "Private Placement") of 9,765,400 flow-through units (the "FT Units") at a price of $0.065 per FT Unit for aggregate gross proceeds of $634,751.
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Figure 1 New Lomiko Claims in relation to La Loutre (Graphic: Business Wire)
Each FT Unit consists of one common share that will qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec) and one-half (1/2) of a common share purchase warrant (a "Warrant") with each whole Warrant exercisable at a price of $0.10 per share for a period of two years following closing.
Subject to regulatory approval, the Company will pay a cash finder's fees of $31,737.55 and issue 580,182 finder warrants (the "Finder's Warrants") to three parties. Each Finder's Warrant is non-transferable and exercisable at a price of $0.10 per share for a period of two years following closing.
Pursuant to applicable Canadian securities laws, all securities issued pursuant to this private placement are subject to a hold period of four months and one day. The private placement remains subject to the final approval of the TSX Venture Exchange.
The Company intends to use the gross proceeds of the private placement to incur Canadian Exploration Expenses and "flow-through mining expenditures" as defined in the Income Tax Act (Canada) and the Taxation Act (Québec) on the Company's Laurentides regional graphite exploration program and the Bourier Lithium property, which will be incurred on or before December 31, 2023, and renounced with an effective date no later than December 31, 2022 to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds from the sale of the FT Units.
CEO and Director Belinda Labatte commented: "We are pleased to secure Flow-Through Financing and applying the new critical minerals Flow Through credit in this financing which is pending further details and qualifications of the new credit announced in the 2022 budget. The Critical Minerals Exploration Tax Credit (CMETC) is a new tax credit proposed in budget 2022 on April 7, 2022. The 30% tax credit would be applicable to eligible expenses in the exploration of critical minerals in Canada aligned with the government's new critical mineral strategy. The announced critical mineral strategy and tax credit is important and directly aligned with our ongoing regional strategy to develop the natural flake graphite claims and to advance our Bourier lithium exploration program. At La Loutre we continue to advance our diamond drill program in the EV Zone, environmental baseline studies and metallurgical studies continue. This program will replicate commercial processing and purification steps to evaluate the performance of the La Loutre flake graphite in battery anode applications.
Regional Graphite Exploration Program in the Grenville Province
Lomiko has initiated helicopter-borne geophysical surveys on its six regional graphite properties for the purpose of data acquisition aiming to identify areas of prospective graphite mineralization for future field follow-up. The program will cover approximately 14,255 hectares of mineral claims, and 236 claims in total. These new claims lie within a 100 km radius of the Company's flagship La Loutre graphite and were previously announced on May 16, 2022. With this work, the Company aims to identify near surface conductors which will help guide the field work in the future and further define the regional prospectivity for natural flake graphite. Please refer to Figure 1 for details.
In addition, at the Company's Bourier prospect, Lomiko and Critical Elements Lithium Corporation (Operator) have commenced the 2022 field exploration program. The field program is expected to last four weeks. The lithium-tantalum-cesium anomalies are of particular interest because they represent an unprecedented discovery in the Bourier claim. This anomaly spans along a 2.5 km long NE-trending mica-rich white pegmatites system. Structural interpretation by GoldSpot suggest this lithium-tantalum-cesium trend may extend to the Lemare Li showing. Please refer to Figure 2 for details.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.
The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 76 minerals claims totaling 4,528 hectares (45.3 km 2 ). Lomiko Metals published a Preliminary Economic Assessment ("PEA") on September 10, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person ("QP") under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.
For more information on Lomiko Metals, review the website at www.lomiko.com , contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com .
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including satisfactory completion of due diligence and ability to reach an agreement with third party owners in connection with projected acquisitions, timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company's current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: potential of future acquisitions presently evaluated by the Company; current market for critical minerals; current technological trends; the business relationship between the Company, local communities and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com , and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko Metals Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220721006067/en/
Kimberly Darlington Investor Relations, Lomiko Metals Inc. k.darlington@lomiko.com 514-771-3398
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Canada has an astounding wealth of mineral resources, and when it comes to critical minerals, it is rich 31 out of 35 of them. Deemed essential to electrification, decarbonization and technological advancement, many of these minerals are fast approaching current global production limits while demand continues to increase. The need for reliable critical metals production goes far beyond Canada, too. The European Union recently identified 30 critical minerals, while the United States contains deposits for all 35 critical minerals. However, the US relies entirely on Canada for 14 of these minerals and is 50 percent import-reliant for 17.
From a global perspective, Canada also accounts for 70 percent of in-development graphite projects. It’s safe to say North America will require every one of those projects moving forward. Graphite — a vital component in batteries and countless other electronic devices, alongside lithium — is expected to experience a 37 percent under-supply by 2030 and a considerable upturn in demand this year. Moreover, the production of minerals such as graphite, lithium and cobalt may need to increase by 500 percent by 2050.
Multiple major corporations are in talks with Quebec for the development of battery factories and gigafactories, with their combined investments representing billions of dollars. Stakeholders include Tesla (NASDAQ:TSLA), Britishvolt, Lion Electric Company (TSX:LEV), Stellantis, LG, Samsung Electronics (KRX: 005930) and Toyota Motor Corporation (TYO: 7203).
The Canadian Federal Government has also announced plans to hit net-zero emissions and 100 percent electric vehicle (EV) market penetration by 2035. If Canada is to reach this goal, it must look to domestic solutions for mineral development and production.
Currently, Lomiko Metals is involved in the development of two major mining projects in the Province of Quebec. The first, La Loutre, is situated within the Kitigan Zibi Anishinabeg First Nations Territory, located 180 kilometers Northwest of Montreal. The 2,867-hectare site is comprised of 48 contiguous land claims. Based on a preliminary economic assessment, La Loutre has a potential graphite concentrate production of 1.43mt graded at 95.0 percent Cg.
Alongside Critical Elements Lithium (TSXV:CRE), Lomiko Metals is also exploring the Bourier lithium project. Located southeast of Quebec's Eeyou Istchee James Bay territory, Bourier covers 10,252 hectares. An AI analysis carried out by GoldSpot (TSXV:SPOT) in 2021 revealed the project has considerable lithium potential.
Lomiko Metals is proudly represented by a diverse majority-female, majority-independent board, including Indigenous and francophone directors, who between them have decades of experience in mining development and production, capital raising, and management. It believes that committed and open engagement with community, environment, investors and public stakeholders plays a crucial role in the successful advancement of its projects.
"It is our shared values of respect, integrity, personal performance and ingenuity that brought us together so we can grow a domestic, secure and stable supply chain of critical minerals in Quebec and in Canada," says CEO and Director Belinda Labatte. "We are creating a people-first, responsibly sourced, secure and stable supply of critical minerals assets where projects are developed alongside communities and with all the innovation and ingenuity required to ensure the projects have a net positive impact on the environment and the communities we serve."
Fully-owned by Lomiko Metals with a 1.5 percent NSR, the La Loutre project has a concession size of 2,867 hectares and is situated 180 kilometers northwest of Montreal, Quebec. The site is currently undergoing various tests to confirm details such as the grade of graphite at the location, the amount of mineral present, the expected “lifetime” of the mine and the best way to ensure environmental sustainability.
La Loutre contains extensive graphite deposits with 1.04 kt indicated and 1.88 kt inferred resources. The site's estimated lifespan is 14.7 years, during which time it is expected to produce 21,874 Kilotons (kt=1,000 metric tonnes) of mill feed yielding 1,436 kt of graphite concentrate grading 95.0 percent Cg.This averages out to a graphite concentrate production rate of 108 kt for the first eight years with an overall average annual production of 97.4 kt.
Highlights of the PEA (all figures are stated in Canadian dollars unless otherwise stated):
Located near Nemaska, Quebec; the Bourier Project is owned by Critical Elements Lithium with an earn-in option representing up to 70 percent of ownership. Still in early-stage exploration, it covers 10,252 hectares situated on the Nemiscau greenstone belt southeast of the Eeyou Istchee James Bay territory in Quebec.
Gordana Slepcev is a Professional Mining Engineer with more than 25 years of global mining experience in developing, building and leading safe mining operations. Slepcev’s extensive experience spans multiple commodities, including gold, base metals, coal and industrial minerals. She brings considerable experience in mineral exploration, permitting, corporate and regulatory/First Nations/ Indigenous relations and project financing to Lomiko. Before joining the Company, Slepcev held the position of COO for BMSI, a privately held company, where she was responsible for restarting the barite reprocessing facility, mitigating historical environmental impacts and overseeing EPCM contractors. She also formerly held the role of COO of Anaconda Mining, where she was responsible for the company’s operations and development of the Goldboro project. Slepcev graduated from the University of Belgrade with a M.Sc.
Vince Osbourne is a senior finance and valuation professional with over 19 years of experience in all areas of financial management and business partnering within the retail industry. In his former position, he held the role of Real Estate finance business partner for Sobeys, contributing to significant value creation through the Real Estate portfolio and strategic partnerships. Osbourne graduated from York University with a BA in Economics.
Mike Petrina is a Mining Engineer with over 30 years of expertise in operations, engineering and project development. He is skilled at advancing open pit and underground projects whilst working responsibly with local stakeholders, First Nations communities and investors to maximize project value and is experienced in managing large workforces or small technical teams. Petrina has held executive roles for years with Adanac Molybdenum, Hawthorne Gold, MAG Silver and Probe Minerals and his extensive experience with advanced-stage projects in the Pre-economic Assessment (PEA) stage will be extremely helpful as Lomiko proceeds with the La Loutre Project.
Anne Chabot possesses over 25 years of experience working with Indigenous and non-Indigenous governments, agencies and community groups, including a number of prominent political organizations like the Assembly of First Nations and the Chiefs of Ontario. Importantly, she works directly with a number of First Nations communities advocating for their rights on land and resource development. She has developed a reputation for being trustworthy and reliable and for her ability to bring solutions to diverse perspectives. She is guided by the vision of her father, John Clarence Chabot, to bring prosperity and self reliance to First Nations, based on principles of mutual respect, trust, kindness and truth.
Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Quebec Virtual Investor Conference on March 30 th and 31 st . This virtual event will showcase live company presentations and interactive discussions focused on disruptive technologies and investing in Quebec's critical and strategic minerals and high-tech sectors.
Individual investors, institutional investors, advisors, and analysts are invited to attend.
REGISTER NOW AT: https://bit.ly/36oj3zW
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1x1 meetings.
NEW CONFERENCE FEATURE: Ability to schedule 1x1 meetings with presenting companies' management.
"We are thrilled to host the two-day Quebec Critical Metals and Technology Investor conference, highlighting the breadth of the province's rich commodities and burgeoning technology," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. We graciously welcome the participation of Quebec's Delegate General, Martine Hebert and Associate Deputy Minister of Mines, Nathalie Camden to this signature event."
"On behalf of the Quebec Government, I am delighted to take part in "Investing in Quebec's Critical and Strategic Minerals and High-Tech Sectors Conference." This conference will showcase for U.S. and investors elsewhere some our best competitive advantages : all the minerals and raw materials required for battery manufacturing and a vast territory containing new mining opportunities with a reliable, sustainable and ethical partner," said Nathalie Camden, Associate Deputy Minister of Mines. "Our action plan on critical and strategic minerals has already yielded impressive results, not only because we have the resources, the will and the tools needed, but because we ensure that all agencies and government entities work together toward one main goal: helping companies and governments to secure their mineral supply chain. We are thankful to the New York Delegate General, Martine Hebert and her team for the opportunity and their partners OTC Markets, Murdock Capital Partners and TAA Advisory for this remarkable event."
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact: John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
News Provided by GlobeNewswire via QuoteMedia
Lomiko Metals Inc. (Lomiko) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) ("Lomiko Metals" or "Lomiko" or the "Corporation" or "The Company") is pleased to announce a new leadership team and the appointment of an independent director to the board effective October 25, 2021. With the appointment of Belinda Labatte as Chief Executive Officer and Director, Vince Osbourne as Chief Financial Officer and Gordana Slepcev as Chief Operating Officer, Lomiko is poised to develop its current critical minerals projects in Quebec and pursue a new growth strategy for the acquisition and development of new critical minerals assets to add to the Company's portfolio. The Board of Directors has determined it is in the best interests of all its stakeholders to appoint a dedicated and committed new leadership team at this time which will establish the Company and it's base of operations in Quebec. Lomiko is setting the stage to become a leader and responsible supplier of critical minerals in the North American market. The new leadership will continue to develop the Company's high potential La Loutre graphite project into the Pre-Feasibility Stage ("PFS") stage with the view of taking it into full production, along with plans for the advancement of its lithium exploration project, Bourier located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211026005467/en/
Lomiko MetalsTSXV: LMR, OTC: LMRMF (Graphic: Business Wire)
Belinda Labatte replaces A. Paul Gill, who will remain Executive Chair of the Board; she also joins as Director of Board. Mr. Gill will continue to be involved in advancing the current portfolio of assets with additional new directors to be appointed at the annual general meeting of shareholders. He will also continue to oversee the final stages of completing the ECOLOGO third party certification process, which reinforces Lomiko's commitment to ethical practices as endorsed by the Quebec Mineral Exploration Association (QMEA). Vince Osbourne replaces Jacqueline Michael as Chief Financial Officer and Director, who will resign her position as CFO and Director and continue in the role of Controller for Lomiko, reporting to Vince Osbourne. Also resigning as director is Mike Petrina who will remain with Lomiko in an operational capacity, as Project Manager for the La Loutre project.
"I am proud to welcome our new management team and new directors to Lomiko," said Paul Gill, Executive Chair of the Board. "The opportunity to build a new company with a wider scope and long-term vision is now. Lomiko is in a perfect position to benefit shareholders and contribute to developing new businesses in Quebec that will create jobs and prosperity while being committed to environmental and community stewardship. Our team is dedicated to meeting these challenges and to working to build a better future for all Canadians."
In addition, Eric Levy is appointed as independent director. Mr. Levy is senior partner at the law firm of Osler, Hoskin & Harcourt LLP and is recognized as a leading Canadian lawyer in corporate M&A transactions and securities law. Mr. Levy will lead the board renewal process with Mr. Paul Gill to ensure a highly diverse board that shares in the vision of building a new energy company.
Ms. Labatte, Mr. Osbourne, and Ms. Slepcev are highly regarded professionals in their field and represent a team of leaders committing to a new vision and new strategy for the Company starting in Quebec where community engagement is a priority. Critical minerals of interest include graphite, lithium, REE, PGMs and others that are deemed essential and under-supplied for our new energy and technology future. Lomiko is looking to play a significant role in Canada's decarbonization path and the need to secure the entire North American electric vehicle supply chain with critical minerals and processing technology, which will enable 2º Celsius reduction in Greenhouse Gas Emissions (GHG) emission by 2040 and net-zero by 2050.
Belinda Labatte, Chief Executive Officer, said: "I thank Paul Gill, his team and the Board of Directors for the opportunity to build Lomiko into a high growth, dynamic and modern critical minerals company with an experienced, energetic and motivated team. We start with an excellent platform that Mr. Gill and his team have built as we move forward with our plans for a people-first approach to the development of critical minerals. We are taking steps to increase value and de-risk of the La Loutre graphite project and evolving from a high potential Preliminary Economic Assessment ("PEA") project to an expanded project in the PFS stage. Our plans for La Loutre include a carbon-neutral mine plan, enhanced drilling in high potential zones, and a metallurgical testing program, among other priorities. We also plan to follow up on a very encouraging geophysical survey program at our lithium exploration project, Bourier, in Quebec, that was conducted mid-2021. We will begin to drill test the anomalies as part of a renewed exploration focus at Bourier."
Ms. Labatte continued, "We are also actively reviewing other opportunities for portfolio growth in Quebec and North America where community engagement will be a priority. Our shared values of respect, personal performance, integrity and ingenuity are at the forefront. Our team has extensive experience in growing businesses large and small, in mine construction and operations, and a deep understanding and respect for long-term relationship building and entrepreneurial support needed in the communities where we operate. We are excited to build the profile of the critical minerals supply chain in Canada, share knowledge and be a part of the new energy transition employment opportunities ahead by applying action oriented Environment, Social and Governance ("ESG") practices in all areas of the business."
Profile of new leadership team
Incoming CEO Belinda Labatte, CFA, MBA, ICD.D, has more than 15 years of senior management experience in mining and the extractive industry, and 20 years of capital markets experience, including a decade of strategic development, capital markets investment banking experience, stakeholder engagement, and asset acquisition and disposition processes. Her most recent position was Chief Development Officer of Mandalay Resources Corp. Prior to that, Ms. Labatte was the founder and President of her own Company, The Capital Lab Inc., a leading Toronto-based consulting firm. Ms. Labatte is fluent in French, Spanish and German and graduated from the Rotman School of Management with an MBA. She holds the ICD.D designation and is CFA charterholder.
Incoming COO Gordana Slepcev, M.Sc.P. Eng, is a Professional Mining Engineer with more than 25 years of global mining experience in developing, building and leading safe mining operations. Ms. Slepcev's extensive experience spans multiple commodities, including gold, base metals, coal and industrial minerals. She brings considerable experience in mineral exploration, permitting, corporate and regulatory/First Nations/ Indigenous relations, and project financing to Lomiko. Before joining the Company, Ms. Slepcev held the position of COO for BMSI, a privately held company, where she was responsible for restarting the barite reprocessing facility, mitigating historical environmental impacts and overseeing EPCM contractors. She also formerly held the role of COO of Anaconda Mining, where she was responsible for the company's operations and development of the Goldboro project. Ms. Slepcev graduated from the University of Belgrade with a M.Sc.
Incoming CFO Vince Osbourne, CMA, CBV, is a senior finance and valuation professional with over 19 years of experience in all areas of financial management and business partnering within the retail industry. In his former position, he held the role of Real Estate finance business partner for Sobeys, contributing to significant value creation through the Real Estate portfolio and strategic partnerships. Vince Osbourne graduated from York University with a BA in Economics.
Independent director Eric Levy has over 20 years of experience advising on complex issues concerning securities and governance matters. He is Head of Osler's Montreal Corporate Group and also serves on the Osler, Hoskin & Harcourt Partnership Board.
In addition, Lomiko is forming an advisory board to management to assist with the growth of the company. Normand Champigny, CEO and Director of Quebec Precious Metals Corporation has been appointed to this group.
The Company will grant 3,850,000 stock options to the newly appointed leadership team and independent director. These stock options have an exercise price of $0.12 per share, are exercisable over five years, and are subject to vesting requirements. Incoming CEO Belinda Labatte receives 1,400,000 stock options; 800,000 stock options for incoming COO Gordana Slepcev and 800,000 stock options for incoming CFO Vince Osbourne. Newly appointed independent director Eric Levy will receive 500,000 stock options and newly appointed advisor Normand Champigny will receive 350,000 stock options. Stock options have been granted in accordance with the Company's current stock option plan.
Lomiko Metals holds a 100% interest in its La Loutre graphite development in southern Quebec. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 42 minerals claims totaling 2,509 hectares (25.1km 2 ). Lomiko published a Preliminary Economic Assessment ("PEA") on September 10, 2021 which indicated the project had a 15 year mine life, US$406/tonne cost, average graphite mill head grade of 7.44% Cg for the first eight years; Life of Mine (LOM) average graphite mill head grade of 6.67% Cg, average LOM recovery of 93.5% Cg, measured and indicated resource at the base case cut-off grade of 1.5% Cg of 23,165 kt at a 4.51% Cg grade for 1.04 Mt of graphite, inferred resource at the base case cut-off grade of 1.5% Cg of 46,821 kt at a 4.01% Cg grade for 1.89Mt of graphite. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors.
The company also has an interest in the Bourier project which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km 2 ), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewed and approved the technical disclosure in this news release.
For more information on Lomiko Metals, review the website at www.lomiko.com , contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com .
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Corporation; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Corporation's objective to become a responsible supplier of critical minerals, exploration of the Corporation's projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Corporation's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Corporation's business objectives or projects, the Corporation's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Corporation's current views about future events, and while considered reasonable by the Corporation at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: current market for critical minerals; current technological trends; the business relationship between the Corporation and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Corporation's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations;
The Corporation's actual results, programs and financial position could differ materially from those anticipated in such FLI as a result of numerous factors, risks and uncertainties, many of which are beyond the Corporation's control. These include, but are not limited to: the market for critical minerals; the evolution of supply and demand for critical minerals; the Corporation's projects may not be explored or developed as planned; uncertainty relating to possible cost-overruns in implementing its business strategy and developing its projects; market prices affecting development of the projects; the availability and ability to secure adequate financing and on favourable terms; inability to obtain required governmental permits; any limitations on operations imposed by governments in the jurisdictions where we operate; technology risk; inability to achieve and manage expected growth; political risk associated with foreign operations; changes in government regulations, including currency controls; changes in environmental requirements; failure to obtain or maintain necessary licenses, permits or approvals; risks associated with COVID-19; insurance risk; litigation risk; receipt and security of mineral property titles and mineral tenure risk; changes in project parameters; uncertainties associated with estimating mineral resources and mineral reserves in the future, including uncertainties regarding assumptions underlying such estimates; whether mineral resources (if any) will ever be converted into mineral reserves; opposition to exploration and/or development of the projects; surface access risk; geological, technical, drilling or processing problems; health and safety risks; unanticipated results; unpredictable weather; unanticipated delays; reduction in demand for minerals; intellectual property risks; dependency on key personnel; workforce and equipment availability; currency and interest rate fluctuations; and volatility in general market and industry conditions.
Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable secruties laws.
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On Behalf of the Board,
"Belinda Labatte" Chief Executive Officer and Director
View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005467/en/
Belinda Labatte 647-402-8379 info@lomiko.com
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Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C) has announced positive results from the Preliminary Economic Assessment on its La Loutre Graphite Project in southern Quebec. The 100% owned La Loutre Project is located in the Nominingue-Chénéville Deformation Zone in Quebec. The property, which consists of one large contiguous block of 42 mineral claims totaling 2,509 hectares or approximately 25 square kilometres, is located approximately 117 kilometres northwest of Montréal in southern Québec, 230 kilometres southwest of the Nouveau Monde Matawinie Project and 100 kilometres southeast of the Imerys' Lac-des-îles mine.
The PEA was completed by Ausenco Engineering Canada, the Canadian division of the Australian-based global engineering firm with a 30 year track record with projects spanning more than 80 locations worldwide.
For more information, please view the InvestmentPitch Media "video" which provides additional information about this news along with some video comment from Lomiko's President and CEO, A. Paul Gill. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Lomiko" in the search box.
Based on a drill hole database containing 117 drill holes, consisting of 15,160 metres of drilling and 8,850 assay intervals, the project has a mineral resource estimate of 23,165 kilo tonnes of 4.51% graphite for 1.04 metric tonnes of graphite in the Indicated category, and 46,821 kilo tonnes of 4.01% graphite for 1.9 metric tonnes of graphite in the Inferred category, using a 1.5% cut-off grade. The cut-off grade is based on a processing cost of CDN$11.85 per tonne, and General and Administrative Costs of CDN$2.37 per tonne. A cut-off grade of 1.5% has been used for the base case of the resource estimate, which more than covers the Process and General and Administrative Costs.
The mine plan includes 21.9 metric tonnes of mill feed and 88.4 metric tonnes of waste over the 14.7-year project life. Mine planning is based on conventional open pit methods suited for the project location and local site requirements. Owner-operated and managed open pit operations are anticipated to begin prior to mill start up, running for 14.7 years to pit exhaustion, with feed from the low-grade stockpile supplementing plant feed over the last two years. The PEA indicates the property has the geological potential to extend the mine life beyond the initial 14.7 years presented in the PEA as well as the opportunity to expand the scale of production by increasing the mineral resource through ongoing exploration and drilling.
With a strong treasury to support their next steps, Lomiko plans to commence a Preliminary Feasibility Study and Environmental Impact Studies while continuing to explore the geological potential of the property. Management believes the PEA clearly demonstrates the potential for Lomiko to become a major North American graphite producer, with a positive after-tax Internal Rate of Return of 21.5% and after-tax Net Present Value of $186 million.
Management cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability.
For a more detailed analysis of the PEA, please refer to the news release. The shares are trading at $0.145. For more information, please visit the company's website: www.lomiko.com, contact A. Paul Gill, CEO, at 604-729-5312, or by email at info@lomiko.com.
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT: InvestmentPitch Media Barry Morgan, CFO bmorgan@investmentpitch.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91913
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Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C) has entered into an option agreement with Critical Elements Lithium Corporation giving Lomiko the right to acquire up to a 70% interest in the Bourier project. Lomiko will earn its interest by way of a joint venture agreement.
For more information, please view the InvestmentPitch Media "video" which provides additional information about this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Lomiko" in the search box.
The Bourier project is located approximately 85 km east-northeast of the village of Nemaska and approximately 450 km north-northeast of the town of Val-d'Or, Québec. The Bourier property, potentially a new lithium field in an established lithium district in Quebec, consists of 203 claims covering approximately 10,252 hectares or 102.5 square kilometres.
A. Paul Gill, CEO, stated: "Recent consumer interest in electric vehicles has increased investor interest in Lithium and Graphite, two of the major components of a lithium-ion battery. Quebec is in a unique position of having ample supply of both commodities and now Lomiko has opportunities in additional battery materials."
Jean-Sébastien Lavallée, Critical Elements' CEO, added: "This option agreement with Lomiko will allow the Bourier property to be explored in detail for battery minerals discoveries, such as Lithium, Nickel, Copper and Zinc. Critical Elements is currently focused on the development of its Rose Lithium-Tantalum project. With Lomiko as a joint venture partner in the Bourier project, shareholders of both companies will be able to benefit from successful exploration of a highly prospective project."
The northern boundary of the property is marked by intrusive pink granite. The metasedimentary rocks in the centre of the property are intruded by mafic and ultramafic rocks, granites, pegmatites, and late diabase dykes. The pegmatites occur as either pink, which associated with oligoclase gneisses and granite, or white, which is associated with metasedimentary rocks. Outside of work program complete between 2010 and 2012 for Zinc-Copper and Gold by Monarques Resources Inc., there has been very limited lithium exploration undertaken at the Bourier Property.
The Bourier property is adjacent to the Lemare Lithium property, wholly owned by Critical Elements, where in 2012, a previous operator discovered a "granite pegmatite dyke containing a considerable amount of spodumene", which ranged in apparent thickness from 4.8 to 14.2 metres and was followed for close to 200 metres in length on surface.
Under the first option, Lomiko can earn 49% by paying $50,000 in cash, 5 million shares, and incurring $1.3 million in exploration expenditures by December 31, 2022. Subject to completing this first option, Lomiko can increase its interest to 70% by paying an additional $250,000 in cash, 2.5 million shares, and incurring $2 million in exploration expenditures and delivering a NI 43-101 Resource Estimate by December 31, 2023. Should Lomiko produce a drill-defined NI 43-101 resource estimate of between 5 and 20 million tonnes of lithium oxide, Lomiko will pay up to $2 million, payable in cash or shares, at Lomiko's discretion. Please refer to the company's news release for the specific schedule for these terms.
Critical Elements will retain a 2% NSR on the extraction and production of any minerals on the Bourier Property, of which Lomiko can purchase 1% for $2. million. During the agreement, Critical Elements will be the operator on the property. Critical Elements will also retain the exclusive right to market and act as selling agent for any and all Lithium products, including Lithium ore, concentrate and chemical, resulting from the extraction and production activities on the Bourier Property.
For more information, please visit the company's website: www.lomiko.com, contact A. Paul Gill, CEO, at 604-729-5312, or by email at info@lomiko.com.
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT: InvestmentPitch Media Barry Morgan, CFO bmorgan@investmentpitch.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82629
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Lomiko Metals Inc. (TSXV: LMR) (OTCQB: LMRMF The company is engaged in the acquisition, exploration, and development of resource properties that contain minerals for the new green economy.
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Lomiko Metals Inc. (TSXV: LMR) (OTCQB: LMRMF)
Lomiko Metals is being featured on BNN Bloomberg on Mar 8th to 14th, 2021, throughout the day and evenings.
BTV-Business Television is Canada's longest running business show. With Hosts Taylor Thoen and Jessica Katrichak, BTV features emerging companies across the country to bring viewers investment opportunities. BTV also produces News Alerts and branding/ awareness spots for issuers broadcast on BNN Bloomberg, Fox Business News, Bloomberg TV US and Bloomberg Terminals. www.b-tv.com
BTV - Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com
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First Graphene Ltd is an advanced materials company. It is the producer of graphene which is exfoliated from high-grade, crystalline Sri Lankan graphite. The company's graphene products are used in Fire retardant coatings, Concrete strengthening, Battery electrode materials, Conductive inks and sensors, Rubber and composite strengthening and Moisture barrier in thermoset composites. Its operating segment includes Graphene production; Research and development; Corporate services and Mining Asset Maintenance. The company generates maximum revenue from the Graphene production segment.
South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it has received the construction permit for its Santa Cruz Mine in Brazil from the municipality of Itabela on September 15, 2022. In addition, South Star held meetings with the State of Bahia development agency, the Bahia industrial confederation as well as representatives from the port facilities in Salvador, Bahia.
Richard Pearce, CEO of South Star, said, "The municipal construction permit was the final approval we needed for Phase 1 construction to begin in earnest, and are pleased to have achieved this important milestone. Once again, we would like to thank the mayor of Itabela and his/her team for their continued support of South Star. We look forward to working closely with them through construction and the start of commercial production in Q4 of 2023."
Mr. Pearce continued, "We also had positive meetings with the State of Bahia development and industrial agencies, as well representatives from the major port facilities in Salvador. We presented additional details about Santa Cruz and our planned growth through Phase 2 (25,000 tpy of concentrates) and Phase 3 (50,000 tpy of concentrates). Santa Cruz will be the first major industrial facility in the municipality and one of the largest in the region as we scale operations. The State of Bahia has a long history of successful mineral resource development and operations, and we are privileged to be operating in a state with strong ties to the sector. The port facilities in Salvador are world class and are one of several excellent alternatives to export our product to the world. Santa Cruz has unparalleled existing infrastructure to support our planned expansions. The existing infrastructure and facilities are significant factors contributing to our low capital intensity as well as our projected first quartile operating costs. We look forward to being the first new graphite production in the Americas in decades. We greatly appreciate all the representatives and our team's participation in these productive meetings and supporting South Star."
ABOUT South Star Battery Metals CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2023 (Q4 is stated in second paragraph).
South Star's next project in the development pipeline is in Alabama situated in the center of a developing electric vehicle, aerospace and defense hub in the southeastern United States. The Project, a historic mine active during World Wars I & II, has initiated its maiden drilling campaign with results expected in Q1 2023. Trenching, sampling, analysis and preliminary metallurgic testing has been completed. The testing indicated a traditional crush/grind/flotation concentration circuit achieved grades of approximately 96-97% with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com .
This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
Mr. Richard Pearce Chief Executive Officer
For additional information, please contact:
South Star Investor Relations (Canada IR) Email: invest@southstarbatterymetals.com +1 (604) 706-0212 x3002
RBMG – RB Milestone Group LLC (IR US) Trevor Brucato, Managing Director Email: southstar@rbmilestone.com
Twitter: https://twitter.com/southstarbm Facebook: https://www.facebook.com/southstarbatterymetals LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/ YouTube: South Star Battery Metals - YouTube
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
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Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is excited to announce that it has executed a Joint Venture Shareholders’ Agreement with world-leading German battery institute Fraunhofer IKTS (“IKTS”) to commercialize IKTS’ revolutionary CERENERGY® Sodium Alumina Solid State (SAS) Battery. Altech, inclusive of associated entity Altech Advanced Materials AG, will be the majority owner at 75% of the JV company, which will commercialize a 100 MWh project to be constructed on Altech’s land in Schwarze Pumpe, Germany. The SAS CERENERGY® battery uses common table salt and ceramic solidstate technology
The SAS technology has been developed by Fraunhofer IKTS over the last eight years and has revolutionized previous technology, allowing higher energy capacity and lower production costs. SAS-type batteries, in terms of capacity, have already been successfully tested in stationary battery modules. The IKTS SAS batteries are in the final phase of product testing and ready to commercialise. IKTS has spent in the region of EUR 35 million on research & development and operates a EUR 25 million pilot plant in Hermsdorf, Germany. The final CERENERGY® battery modules, at 10 KWh each, are specially designed for the grid storage market and have been undergoing extensive performance testing in Germany. These modules are designed to fit in racks housed in sea containers that can be deployed for grid storage.
For more information on the IKTS CERENERGY® pilot facility and final battery modules watch the following YouTube video https://youtu.be/UBwxxgEJHvo
IKTS has been looking for an entrepreneurial partner that has German land available, has access to funding, is a builder of projects, has battery background, and has technology in alumina used in ceramics. Altech fitted the criteria, and the Joint Venture Shareholders’ Agreement was executed. Altech group will own 75% of the project with IKTS 25% free carried. The intellectual property will be licensed exclusively to the joint venture.
The joint venture partners have elected to develop a 100 MWh SAS battery plant (Train 1) on Altech’s site in Saxony, Germany. The target market for this project will specifically focus on the grid (stationary) energy storage market which is expected to grow by 28% CAGR (Compound Annual Growth Rate) in the coming decades. The global grid energy storage market is expected to grow from USD 4.4 billion in 2022 to USD 15.1 billion by 2027. Or further out, the market is expected to grow from 20 GW in 2020 to over 3,000 GW by 2050. Altech believes that SAS batteries can provide high security, at low acquisition and operating costs, for the stationary energy storage market.
The proposed battery plant will produce 10,000 SAS battery modules per annum, rated at 10 KWh each. These SAS battery modules are expected to sell for between EUR 7,000-9,000 per module, or EUR 700- 900 per KWh, at final pack costs. IKTS has estimated that the total cost of production for CERENERGY® batteries will be 40%-50% cheaper than lithium-ion batteries.
The joint venture partners have commenced the planning process for the Bankable Feasibility Study required for the commercialisation process. Once the Train 1 (100 MWh) plant is built and operating, the longer-term vision for the joint venture is to construct additional trains or a Gigawatt battery facility
Click here for the full ASX Release
This article includes content from Altech Chemicals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here
About Altech Chemicals Ltd: Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia. HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.
Contact: Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com
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Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce that it has completed its infill and extension exploration drilling program at its wholly-owned La Loutre graphite project, located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory within the Outaouais and Laurentides regions, 180 kilometers northwest of Montreal.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913006281/en/
Figure 1. EV Zone Drill Map (Graphic: Business Wire)
The comprehensive drill program featured 79 holes totaling 13,113 metres drilled; 53 of these, totaling 9,037 metres, were drilled in the Electric Vehicles ("EV") Zone and 26 holes totaling 4,076 metres were drilled in the Battery Zone. The Company is awaiting further assay results which will be shared when available.
The Preliminary Economic Assessment (PEA) for the La Loutre project confirmed that the EV and Battery Zones are sources of material that, when processed, would yield concentrated graphite of high purity over 95% graphitic carbon (Cg) (see press release of July 29, 2021 for more details). The objective of the 2022 exploration campaign was to better understand the extent and quality of the deposit and provide the required inputs for a pre-feasibility study.
Lomiko Metals thanks Breakaway Exploration Management of Québec for the supervision and operation of the 2022 exploration drilling program at the La Loutre project and ensuring compliance with ECOLOGO specifications. Lomiko also advises that it maintained its obligations to ensure departure before the seasonal hunting that occurs on the northern end of the claim. Lomiko has retained InnovExplo Consulting and Engineering to prepare an updated NI-43-101 resource estimate for the La Loutre project following the completion of the drilling and assay results receipt.
Please refer to Figure 1 and 2 for details.
The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the "Qualified Person" as that term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.
The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 76 minerals claims totaling 4,528 hectares (45.3 km 2 ). Lomiko Metals published a Preliminary Economic Assessment ("PEA") on July 29, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km 2 ), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
For more information on Lomiko Metals, review the website at www.lomiko.com , contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com .
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including satisfactory completion of due diligence and ability to reach an agreement with third party owners in connection with projected acquisitions, timing for completion of exploration programs; the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company's current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: potential of future acquisitions presently evaluated by the Company; current market for critical minerals; current technological trends; the business relationship between the Company, local communities and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com , and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko Metals Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220913006281/en/
Kimberly Darlington Investor Relations, Lomiko Metals Inc. k.darlington@lomiko.com 514-771-3398
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About Altech Chemicals Ltd: Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (Al2O3) through the construction and operation of a 4,500tpa high purity alumina (HPA) processing plant at Johor, Malaysia. Feedstock for the plant will be sourced from the Company's 100%-owned kaolin deposit at Meckering, Western Australia and shipped to Malaysia. HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. Increasingly HPA is used by lithium-ion battery manufacturers as the coating on the battery's separator, which improves performance, longevity and safety of the battery. With global HPA demand approximately 19,000t (2018), it is estimated that this demand will grow at a compound annual growth rate (CAGR) of 30% (2018-2028); by 2028 HPA market demand will be approximately 272,000t, driven by the increasing adoption of LEDs worldwide as well as the demand for HPA by lithium-ion battery manufacturers to serve the surging electric vehicle market.
Contact: Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com
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