VANCOUVER, BC / CRWEPRESSRELEASE / August 4, 2015 / LOMIKO METALS INC. (CVE:LMR) (OTCMKTS:LMRMF) (FRA:DH8B) (the “Company”) and Canada Strategic Metals (CVE:CJC) are pleased to announce the La Loutre drill program has begun. After completion, the property will then be assessed for a resource and a pre-economic assessment (PEA) if warranted. A recent sampling program provided encouraging results identified high-grade, near surface mineralization.
“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.”
Setting high standards is required to stand out in the current and future graphite market. 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 CAN dollars or more for developing a project and an oversupply of graphite projects requiring sustained prices of over $ 2500 per tonne stresses the need to deliver a low CAPEX Project with sustainable costs in the current small, volatile market.
Jean-Sebastien Lavallée (OGQ #773), geologist and shareholder, is the Qualified Person as defined by National Instrument 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.
SOURCE: Lomiko Metals Inc.