Lomiko's Quatre Milles East Graphite Property
The Quatre Milles East 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 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.
Near Surface & High Grade Drill Hole Highlights (Announced November 13, 2012)
- QM 12-10 4.50 m to 47.42 m 42.92meters of 2.47 Cg% Including 5.46 meters of 8.02 Cg%- QM 12-16 31.48 m to 51.00 m 19.52 meters of 6.23 Cg%- QM 12-20 4.30 m to 44.75 m 40.45 meters of 2.83 Cg% Including 3.45 meters of 10.01 Cg%- QM 12-21 1.35 m to 39.50 m 38.15 meters of 3.43 Cg% Including 4.77 meters of 10.80 Cg%- QM 12-22 11.20m to 51.00 m 39.80 meters of 3.71 Cg% Including 9.90 meters of 8.81 Cg%- QM 12-23 6.90 m to 50.10 m 43.20 meters of 3.71 Cg%-- Drill hole intervals reported herein are not true widths but reported along core.-- Drill hole intervals are weight-averaged based on the sample width.-- No internal cut-off grades were used in the reported intervals.
The previous drilling by Graphicor at Quatre Milles East indicated a near-surface, road-accessible target, which was intersected by multiple drill holes during historic drilling. The available information has been complied into a NI 43-101 report, which will be the template for describing a resource if the drilling program is successful. It is available at: http://www.lomiko.com/properties/quatre.html
"Quatre Milles is a viable mining prospect based on current results. Multiple drill holes with significant results bodes well for the concept of a near-surface, open pit scenario," stated A. Paul Gill, CEO, Lomiko Metals Inc.
-- Natural graphite comes in several forms: flake, vein, amorphous and lump.-- Southwestern Quebec is host to some of the most favourable 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 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 East Property.
-- The price for flake graphite is $ 2000-$3000 per tonne depending on flake size and grade.-- Graphite prices have been increasing prices for large flake, high purity graphite (+80 mesh, 94-97%C).-- 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).
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.
On Behalf of the Board
A. Paul Gill, Chief Executive Officer
We seek safe harbor.
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Lomiko Metals Inc.
A. Paul Gill