Vancouver BC - June 22, 2012 (InvestorIdeas.com Newswire)
LOMIKO METALS INC. (TSX-V:LMR,
OTC: LMRMF, FSE: DH8B www.lomiko.com) (the "Company") announces that
Lomiko has received a drilling permit and is preparing for the upcoming
drilling at the Quatre Milles East Property.
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'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.
Future Markets Inc published "The World Market for Graphene" in October 2011. A summary of the Report's contents indicates:
"Graphene has moved swiftly from the research laboratory to the
marketplace, driven by demand from markets where advanced materials are
required. These include the aerospace, automotive, electronics, energy
storage, solar, oil service, and lubricant sectors. The distinctive
electronic, thermal and mechanical properties of graphene make it a
potentially disruptive
technology
across a raft of industries. In 2010, there were over 400 patents
issued on graphene and 3,000 research papers published. The European
Union is funding a 10 year 1,000 million euro coordination action on
graphene. South Korea is set to spend $350 million on commercialization
initiatives and the United Kingdom has announced investment of
£50million in a new commercialization hub."
Lomiko Metals In conjunction with Visual Capitalist has developed a Graphene Infographic for the use of investors.
Copy and Paste the following in your browser to review:
http://bit.ly/NVlg6O
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:
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
- The price for flake graphite is $ 2000-$4000 per tonne depending on flake size and grade.
- 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.
li> 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 Lavallée (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 .
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