Strategic Commodities: Lomiko Metals – Exploring for Graphite in Quebec LMR.v
Lomiko’s Rapid Progress on Graphite Prospect Continues - CEO Buys Shares LMR.v
"We like to see, when CEO of the Lomiko Metals is constantly buying shares of the company. Upcoming drill program and resource estimation will be the pivotal point for Lomiko and can become the company maker."Lomiko Starts Exploration at the Previously Drilled Quatre Milles Graphite Property
Jun 13, 2012 (ACCESSWIRE-TNW via COMTEX) -- Vancouver BC - LOMIKO METALS INC. CA:LMR 0.00% LMRMF +1.59% DE:DH8B -1.89% (the "Company") is pleased to announce that an exploration crew form Consul-Teck Exploration has started sampling and preparing for the upcoming drilling at the Quatre Milles East Property which was drilled in 1989, previous to National Instrument 43-101.
Lomiko entered the race to locate graphite in January, 2012 when it optioned the Quatre Milles Graphite Property in Quebec to search for large flake, crystallite graphite. Prices for flake graphite were recently quoted at $ 2,200-$ 3,000 per tonne depending on flake size.
Graphite Blog www.graphiteblog.com indicates ina June 11, 2012 article that Graphite consumption will increase if new, fast-recharging battery systems under development are adopted in electric vehicles. "The fast charging systems are being complemented by advancements in battery technology, and specifically Li-ion battery technology, which is one of the driving forces behind the sustained demand for graphite. It so happens, that a radical acceleration in the pace of electric car development and popularity may be 'around the corner'. Thanks to evolving battery technology and better understanding of materials such as graphite and its derivatives, the time needed to charge an electric power only car battery back is quickly dropping from hours to minutes. The prospect of convenient re-charging times, which may drop to the amount of time required to fill up a tank with gasoline in a gas powered engine will further boost battery evolution and demand for graphite."
For further detailed information on Lithium-Ion batteries, please view the following:
To View Graphic, please Cop and Paste URL below into a New Browser:
On March 27, 2012, a 43-101 compliant report by Consul-Teck Exploration Services regarding the Quatre Milles was accepted by the TSX-Venture Exchange and was filed on Sedar (Canadian Securities Administrator Website).
Consul-Teck has proposed a budget of $307, 028 for Phase I and a contingent $724,041 for Phase II for work for the property in the technical report. Lomiko is now proceeding with commencement of exploration.
Lomiko's drilling will focus on verifying the areas of historical high-grade graphite intersected previously by Graphicor on the property. The historical results are detailed below. It is Lomiko's goal to complete both Phase I & II and establish a flake graphite resource at the Quatre Milles Property by December 2012.
Lomiko's Quatre Milles Graphite Property
The Quatre Milles Property is road accessible and is located approximately 175 km northwest of Montreal and 17 km due north of the village of Sainte-Veronique, Quebec. The property consists of 28 contiguous claims totaling approximately 1,600 hectares.
The property was originally staked and explored by Graphicor Resources Inc. ("Graphicor") in the summer of 1989 based on the results of a regional helicopter-borne EM survey. The underlying geology consists of intercalated biotite gneiss, biotite feldspar gneiss, marble, quartzite and calc-silicate lithologies of the Central Metasedimentary Belt of the Grenville Province.
Historical Highlights
Graphicor completed reconnaissance mapping and prospecting as well as ground geophysics and a 26 hole diamond drill program totaling 1,625 metres. The work identified several conductive trends in the central portion of the property and at least three, relatively flat lying graphitic beds.
Three surface samples were collected and analyzed returning results of 14.16% Cgf, 18.06% Cgf and 20.35% Cgf. 23 of the initial 26 drill holes intersected graphite concentrations with graphite concentration in range of 4.69% in hole Q90-1 to a highlight of 8.07% Cgf over 28.60 metres in hole Q90-7. The highest individual assay was reported in hole Q90-10 reporting 15.48% Cgf over 0.50 metres. A table of results from the 43-101 indicates:
------------------------------------------
|HOLE NO.|FROM(M)|TO(M)|WIDTH (M)|GRADE |
| | | | |(% CGP)|
|----------------------------------------|
|Q90-1 |8.94 |10.46|1.52 |7.33 |
|----------------------------------------|
|Q90-2 |28.68 |30.13|1.45 |10.38 |
|----------------------------------------|
|Q90-3 |16.23 |17.84|1.61 |4.09 |
|----------------------------------------|
|Q90-4 |9.4 |14.1 |4.7 |3.95 |
|----------------------------------------|
|Q90-5 |2 |3.90 |1.90 |2.07 |
|----------------------------------------|
|Q90-5 |22.13 |23.25|1.12 |10.52 |
|----------------------------------------|
|Q90-6 |32.54 |41.19|8.65 |8.07 |
|----------------------------------------|
|Q90-6 |43.47 |44.05|0.98 |3.87 |
|----------------------------------------|
|Q90-7 |3.94 |32.54|28.60 |8.07 |
|----------------------------------------|
|Q90-8 |1.54 |2.16 |0.62 |14.89 |
|----------------------------------------|
|Q90-8 |5.23 |8.05 |2.82 |7.45 |
|----------------------------------------|
|Q90-9 |2.05 |3.10 |1.05 |8.47 |
|----------------------------------------|
|Q90-9 |5.76 |6.8 |1.04 |10.86 |
|----------------------------------------|
|Q90-10 |2.14 |5.54 |3.40 |8.02 |
|----------------------------------------|
|Q90-10 |7.03 |7.61 |0.58 |10.59 |
|----------------------------------------|
|Q90-10 |8.53 |9.03 |0.50 |15.48 |
|----------------------------------------|
|Q90-10 |9.27 |11.24|1.97 |12.37 |
|----------------------------------------|
|Q90-10 |14.16 |15.46|1.30 |4.26 |
|----------------------------------------|
|Q90-11 |26.82 |34.02|7.20 |4.63 |
|----------------------------------------|
|Q90-12 |0.94 |8.53 |7.59 |8.60 |
|----------------------------------------|
|Q90-12 |38.16 |43.61|5.45 |3.79 |
|----------------------------------------|
|Q90-13 |0.69 |10.28|9.59 |4.64 |
|----------------------------------------|
|Q90-13 |40.95 |43.14|2.19 |3.82 |
|----------------------------------------|
|Q90-14 |5.56 |7.22 |1.66 |8.12 |
|----------------------------------------|
|Q90-15 |2.21 |5.59 |3.38 |9.76 |
|----------------------------------------|
|Q90-16 |A |A |A |NSV |
|----------------------------------------|
|Q90-17 |15.48 |18.63|3.15 |8.11 |
|----------------------------------------|
|Q90-17 |21.43 |23.67|2.24 |13.29 |
|----------------------------------------|
|Q90-17 |36.77 |47.97|11.20 |5.88 |
|----------------------------------------|
|Q90-17 |57.15 |58.21|1.06 |9.53 |
|----------------------------------------|
|Q90-17 |59.54 |69.82|10.28 |5.99 |
|----------------------------------------|
|Q90-18 |10.68 |12.90|2.22 |8.12 |
|----------------------------------------|
|Q90-19 |47.80 |49.25|1.45 |9.16 |
|----------------------------------------|
|Q90-19 |50.42 |58.49|8.07 |5.72 |
|----------------------------------------|
|Q90-20 |13.51 |16.98|3.47 |5.81 |
|----------------------------------------|
|Q90-21 |2.80 |4.98 |2.18 |5.56 |
|----------------------------------------|
|Q90-22 |17.37 |20.04|2.67 |2.58 |
|----------------------------------------|
|Q90-23 |A |A |A |NSV |
|----------------------------------------|
|Q90-24 |1.78 |4.14 |2.36 |3.77 |
|----------------------------------------|
|Q90-24 |12.32 |13.09|0.77 |4.20 |
|----------------------------------------|
|Q90-24 |16.86 |18.66|1.80 |4.96 |
|----------------------------------------|
|Q90-25 |19.69 |21.24|1.55 |3.67 |
|----------------------------------------|
|Q90-25 |25.27 |26.65|1.38 |9.66 |
|----------------------------------------|
|Q90-26 |A |A |A |NSV |
------------------------------------------
The Company cautions that it has not had the chance to verify the quality and accuracy of the historic sampling and drilling results reported in this news release which predate the introduction of NI 43-101 and cautions readers not to rely upon them. The historic figures were generated from sources believed to be reliable, however, they have not been confirmed. Although the sampling and drilling results are relevant, they have not been verified.
Graphite Market
-Graphite prices have been increasing in recent months and over the last couple of years prices for large flake, high purity graphite (+80 mesh, 94-97%C) have more than doubled.
-Graphite prices have almost tripled since 2005 due to the ongoing industrialization of China, India and other emerging economies and resultant strong demand from traditional steel and automotive markets.
-Demand for graphite is expected to rise as electric vehicles and lithium battery technology are adopted, nuclear reactors are built in China, and if fuel cells and graphene patents become products.
-China, which produces about 70 per cent of the world's graphite, is seeing production and export growth leveling, and export taxes and a licensing system have been instituted.
-Europe and the USA have both indicated graphite is of economic importance and has a supply risk (Critical Raw Materials for the EU, July 2010).
Graphite Facts
-Natural graphite comes in several forms: flake, vein, amorphous and lump.
-Southwestern Quebec is host to some of the most favorable geological terrain for graphite exploration in Canada and is known to host graphite resources, including the nearby Lac Des Iles mine operated by Timcal.
-Graphite has many important new applications such as lithium-ion batteries, fuel cells, and nuclear and solar power that have the potential to create significant incremental demand growth.
-There is roughly 20-30 times more graphite by weight needed to produce a lithium-ion battery than there is lithium.
-Of the 1.2 million tonnes of graphite produced annually, approximately 40 per cent is of the most desirable flake type.
-High-growth, high-value graphite applications require large-flake and high-purity graphite which is the prime exploration and development target at the Quatre Milles Property.
Near-Term Strategy
Lomiko plans to mount an aggressive exploration campaign on the Quatre Milles Graphite Property commencing with a complete compilation of historic geologic work followed by surface mapping, prospecting and follow-up diamond drilling.
Jean-Sebastien Lavallee (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.
For more information, review the website at www.lomiko.com , contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com
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.
Copyright 2012 ACCESSWIRE-TNW
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.
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