Latest news with #Lomiko
Business Wire
21-05-2025
- Business
- Business Wire
Lomiko Metals engages DRA Americas to lead the road access study on La Loutre Natural Flake Graphite Project in Quebec, Canada and corporate update
MONTREAL--(BUSINESS WIRE)-- Lomiko Metals Inc. (TSX.V: LMR) ('Lomiko Metals' or the 'Company') is pleased to announce that it is starting the study to investigate the best options for road access from the highway to the La Loutre natural flake graphite project site in Quebec. The study leader, DRA Americas, who is also leading the Pre-Feasibility level engineering Studies ('PFS') at La Loutre, will be supported by numerous consulting groups based in Quebec and will actively engage with the local consultants and community to seek and incorporate community feedback in the route selection process. Gordana Slepcev, CEO, President, and Director, stated: 'We are happy to continue with the pre-feasibility level of the engineering studies for the La Loutre natural flake graphite deposit and also start the critical process of investigating the best options to access the project site from the local highway. This scoping study will be conducted to determine the best way to access the project site and avoid traffic through the town of Lac des Plages, and represents a way that Lomiko is responding to community questions and ideas. We are pleased to work with local consulting groups to identify options and alternatives, evaluate impacts, and propose the best solutions for the local communities' and First Nations' input.' The Company will continue to provide transparent, factual and ongoing information on the studies to investors, First Nations and community members as the Company progresses. Information on all our public engagements is posted on Lomiko's website at About DRA Global: DRA Global ('DRA') is a global engineering, project delivery, and operations management group specializing in the mining, minerals, and metals sector. The Group has an extensive track record spanning four decades across a wide range of commodities, including battery elements. DRA provides comprehensive services across the project lifecycle—from concept development and feasibility studies to engineering, procurement, construction management (EPCM), and ongoing operations and maintenance. With offices across key mining regions including North and South America, Africa, the Middle East, and Asia-Pacific, DRA delivers tailored solutions to meet the unique needs of its clients. In the Americas, DRA has been instrumental in delivering numerous successful mining projects, offering a blend of innovative design and a commitment to environmental sustainability. Qualified Person for technical content The technical information in this press release has been prepared and approved by Gordana Slepcev, who is registered in Ontario as a qualified person as defined by NI 43-101 guidelines. Gordana Slepcev is a CEO & President of Lomiko Metals. Corporate Update The Company announces that, further to its press release dated April 24, 2025, the Company will not be proceeding with its proposed amendment to warrants or early incentive program. Refer to the Company's press release dated April 26, 2025 and April 3, 2025, for further information. About Lomiko Metals Inc. The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2). The Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism. Lomiko Metals published an updated Mineral Resource Estimate (MRE) in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% Cg per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon). The independent and qualified persons for the mineral resource estimate, as defined by NI 43 101, are Marina Iund, (InnovExplo Inc.), Martin Perron, (InnovExplo Inc.)., Simon Boudreau, (InnovExplo Inc.). and Pierre Roy, (Soutex Inc.). The effective date of the estimate is May 11, 2023. The Company also holds interest in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The stage graphite portfolio consists of 328 claims in total on seven early-stage projects covering 18,622 hectares in southern Quebec. The grades presented below for the Laurentides graphite portfolio were press-released on January 7 th, 2025. ( Ruisseau–grades up to 27.9 percent carbon graphite ('% Cg') from four distinct high grade mineralized zones that are over 3km long; Meloche –grades up to 13.3% Cg from two distinct mineralized clusters; Tremblant –grades up to 11.6% Cg from numerous, widespread spot anomalies; and Dieppe –grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct mineralized cluster. Boyd–8 samples grades range from 5.61% Cg to 17.10 %Cg with all samples above 5.00% Cg. The technical content regarding the exploration results presented was reviewed by Mark Fekete, who acts as an independent consultant to the Company and is the Qualified Person. In addition to La Loutre, Lomiko has earned a 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27 th, 2021. 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. The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. This property is on the same trend as the past-producing antimony mine Beaver Brook, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). The trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at Lomiko QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne Reid is registered in Newfoundland. On behalf of the Board, Gordana Slepcev CEO & President and Director, Lomiko Metals Inc. For more information on Lomiko Metals, review the website at 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 total gross proceeds of the Offering, the use of proceeds of the Offering, the timing and successful completion of the Offering; 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);, 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. The FLI in this news release 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: the Company's, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry, and 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 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 such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Business Wire
15-05-2025
- Business
- Business Wire
Lomiko Metals Announces Extension to Hard Dollar and Flow-Through Financing
MONTREAL--(BUSINESS WIRE)--Lomiko Metals Inc. (TSX.V: LMR) ('Lomiko' or the 'Company') announces that it will apply to the TSX to extend the closing of the hard dollar and flow-through financing to May 31, 2025, details of which were disclosed in the Company's press release April 1, 2025. About Lomiko Metals Inc. The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2). The Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism. Lomiko published an updated Mineral Resource Estimate (MRE) in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% Cg per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon). The Company also holds interest in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The stage graphite portfolio consists of 328 claims in total on 7 early-stage projects covering 18,622 hectares in southern Quebec. Ruisseau–grades up to 27.9 percent carbon graphite ('% Cg') from four distinct high grade mineralized zones that are over 3km long; Meloche–grades up to 13.3% Cg from two distinct mineralized clusters; Tremblant–grades up to 11.6% Cg from numerous, widespread spot anomalies; and Dieppe–grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct mineralized cluster. Boyd–8 samples grades range from 5.61% Cg to 17.10% Cg with all samples above 5.00% Cg In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27 th, 2021. 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. The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. This property is on the same trend as the past-producing antimony mine Beaver Brook, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). The trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at On behalf of the Board, Gordana Slepcev CEO & President and Director, Lomiko Metals Inc. For more information on Lomiko, review the website at 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 total gross proceeds of the offering, the use of proceeds of the offering, the timing and successful completion of the offering; 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);, 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. The FLI in this news release 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: the Company's, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry, and 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 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 such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
Business Wire
30-04-2025
- Business
- Business Wire
Lomiko Provides Updates on Yellow Fox, Antimony, Silver, and Gold Property Located in Central Newfoundland and a Corporate Update
MONTREAL--(BUSINESS WIRE)-- Lomiko Metals Inc. (TSX-V: LMR) ('Lomiko' or the 'Company') is pleased to announce an update on the Yellow Fox, antimony, silver, and gold property acquired from Metals Creek as per news release issued on March 11 th, 2025 ( This property is on the same trend as the past-producing Beaver Brook antimony mine, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). Trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at Gordana Slepcev, CEO, President, and Director, stated: 'We are pleased to announce that we have expanded Yellow Fox's land package with the new claim block (039252M) for Yellow Fox, consisting of 30 claims for a total of 748 hectares. Therefore, the entire property now consists of 58 claims for a total of 1,446 hectares. We look forward to completing the targeted soil sampling field program, Phase 1. The plan is to complete 10 lines at 250 meters spacing and collect approximately 700 soil samples to better define existing highly prospective antimony, silver, and gold targets and further evaluate the south of the Yellow Fox showing, where little to no work has been performed historically. We are happy to work with Metals Creek, which will manage and complete the work program for Lomiko.' The new claim block staked by Metals Creek and added to the option agreement is without any additional cost, aside the cost to stake the claims. Yellow Fox antimony and gold prospect Spring 2025 Work Program The Company reviewed existing data and devised a plan for the fieldwork program in the spring of 2025. Phase 1 of the plan in the spring is focused on soil sampling with the following highlights: Soil sampling program targeted south of Yellow Fox, showing 59.413 g/t gold and areas of increased density of interpreted structures, See Figure 1. Approximately 700 soil samples on ten 250m spaced lines trending approximately 110 degrees with samples taken every 25m along the line. Should the soil sampling program be proven effective, expansion of the lines and additional lines to the south are warranted, which would be the focus of the Phase 2 program. Phase 2 will see the soil sampling completed on the 250-meter parallel grids at 25-meter spacing covering the southern end of the property. Phase 2 will also focus on ground truthing existing targets as well as following up on newly generated targets. Depending on the results of the phase 1 testing, a targeted EM survey will be undertaken. The Company notes that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project. The results of surface or grab samples, by their nature, is selective and assay results may not be indicative of underlying mineralization. Location Details The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid coordinates 5,419,400m North and 645,300m East. Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook with cross-cutting structural zones which show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc, and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite being the most abundant and trending 025 degrees. Both these vein sets are similar to that of the past producing Beaver Brook antimony Mine, and both vein sets trend in N to NE, which is the same as the prospective regional structures. Qualified Person for technical content at Yellow Fox The technical information in this press release has been prepared and approved by Gordana Slepcev, who is registered in Ontario as a qualified person as defined by NI 43-101 guidelines. Gordana Slepcev is a CEO & President of Lomiko Metals. QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne Reid, is registered in Newfoundland and working as the consultant for Metals Creek. Market Making Services The Company announces it has retained ITG Independent Group, ("ITG') to provide market-making services in accordance with TSX Venture Exchange ("TSX.V") policies. ITG will trade shares of the Company on the TSX.V for the purposes of maintaining an orderly market and improving the liquidity of the Company's shares. ITG will not receive shares or options as compensation. However, ITG and its clients may have or may acquire a direct interest in the securities of the Company. ITG is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and can access all Canadian Stock Exchanges and Alternative Trading Systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG. The Agreement is for an open-ended term of at least one month and may be terminated thereafter on 30 days' notice. The Company will pay $5,500.00 per month from the date the TSX.V approved the agreement. This is an arm' s-length transaction. About Lomiko Metals Inc. The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 km2). The La Loutre Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism. Lomiko published an updated Mineral Resource Estimate ('MRE') in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% graphitic carbon (Cg) per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon). In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27th, 2021. 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. The Company also holds interest in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The Company acquired Yellow Fox's antimony, gold, silver, lead, and zinc target from Metals Creek on January 21 st, 2025. The Option term is two years. The new claim block (039252M) for Yellow Fox consists of 30 claims for a total of 748 hectares. Therefore the entire property now consists of 58 claims for a total of 1,446 hectares. On behalf of the Board, Gordana Slepcev CEO & President and Director, Lomiko Metals Inc. For more information on Lomiko Metals, review the website at 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: expected timing of completion of the closing conditions in connection with the acquisition and closing of the acquisition, expected costs of exploration and timing to achieve certain milestones, 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). 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: the ability of the Company to meet the closing conditions of the acquisition, including regulatory approval, and complete the transaction within the anticipated timing; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; 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 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.
National Post
30-04-2025
- Business
- National Post
Lomiko Provides Updates on Yellow Fox, Antimony, Silver, and Gold Property Located in Central Newfoundland and a Corporate Update
Article content MONTREAL — Lomiko Metals Inc. (TSX-V: LMR) ('Lomiko' or the 'Company') is pleased to announce an update on the Yellow Fox, antimony, silver, and gold property acquired from Metals Creek as per news release issued on March 11 th, 2025 ( Article content Article content This property is on the same trend as the past-producing Beaver Brook antimony mine, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). Trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at Article content Gordana Slepcev, CEO, President, and Director, stated: 'We are pleased to announce that we have expanded Yellow Fox's land package with the new claim block (039252M) for Yellow Fox, consisting of 30 claims for a total of 748 hectares. Therefore, the entire property now consists of 58 claims for a total of 1,446 hectares. We look forward to completing the targeted soil sampling field program, Phase 1. The plan is to complete 10 lines at 250 meters spacing and collect approximately 700 soil samples to better define existing highly prospective antimony, silver, and gold targets and further evaluate the south of the Yellow Fox showing, where little to no work has been performed historically. We are happy to work with Metals Creek, which will manage and complete the work program for Lomiko.' Article content The new claim block staked by Metals Creek and added to the option agreement is without any additional cost, aside the cost to stake the claims. Article content The Company reviewed existing data and devised a plan for the fieldwork program in the spring of 2025. Article content Phase 1 of the plan in the spring is focused on soil sampling with the following highlights: Article content Soil sampling program targeted south of Yellow Fox, showing 59.413 g/t gold and areas of increased density of interpreted structures, See Figure 1. Approximately 700 soil samples on ten 250m spaced lines trending approximately 110 degrees with samples taken every 25m along the line. Article content Should the soil sampling program be proven effective, expansion of the lines and additional lines to the south are warranted, which would be the focus of the Phase 2 program. Phase 2 will see the soil sampling completed on the 250-meter parallel grids at 25-meter spacing covering the southern end of the property. Phase 2 will also focus on ground truthing existing targets as well as following up on newly generated targets. Article content Depending on the results of the phase 1 testing, a targeted EM survey will be undertaken. Article content The Company notes that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project. The results of surface or grab samples, by their nature, is selective and assay results may not be indicative of underlying mineralization. Article content The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid coordinates 5,419,400m North and 645,300m East. Article content Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook with cross-cutting structural zones which show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc, and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite being the most abundant and trending 025 degrees. Both these vein sets are similar to that of the past producing Beaver Brook antimony Mine, and both vein sets trend in N to NE, which is the same as the prospective regional structures. Article content The technical information in this press release has been prepared and approved by Gordana Slepcev, who is registered in Ontario as a qualified person as defined by NI 43-101 guidelines. Gordana Slepcev is a CEO & President of Lomiko Metals. QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne Reid, is registered in Newfoundland and working as the consultant for Metals Creek. Article content Market Making Services Article content The Company announces it has retained ITG Independent Group, ('ITG') to provide market-making services in accordance with TSX Venture Exchange ('TSX.V') policies. ITG will trade shares of the Company on the TSX.V for the purposes of maintaining an orderly market and improving the liquidity of the Company's shares. Article content ITG will not receive shares or options as compensation. However, ITG and its clients may have or may acquire a direct interest in the securities of the Company. ITG is a member of the Investment Industry Regulatory Organization of Canada ('IIROC') and can access all Canadian Stock Exchanges and Alternative Trading Systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG. The Agreement is for an open-ended term of at least one month and may be terminated thereafter on 30 days' notice. The Company will pay $5,500.00 per month from the date the TSX.V approved the agreement. This is an arm' s-length transaction. Article content About Lomiko Metals Inc. Article content The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 km2). Article content The La Loutre Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism. Article content Lomiko published an updated Mineral Resource Estimate ('MRE') in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% graphitic carbon (Cg) per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon). In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27th, 2021. 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. Article content The Company also holds interest in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory. Article content The Company acquired Yellow Fox's antimony, gold, silver, lead, and zinc target from Metals Creek on January 21 st, 2025. The Option term is two years. The new claim block (039252M) for Yellow Fox consists of 30 claims for a total of 748 hectares. Therefore the entire property now consists of 58 claims for a total of 1,446 hectares. Article content On behalf of the Board, Gordana Slepcev CEO & President and Director, Lomiko Metals Inc. Article content 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: expected timing of completion of the closing conditions in connection with the acquisition and closing of the acquisition, expected costs of exploration and timing to achieve certain milestones, 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). 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: the ability of the Company to meet the closing conditions of the acquisition, including regulatory approval, and complete the transaction within the anticipated timing; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; 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. Article content 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 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. Article content Article content Article content Article content Article content Article content
Business Wire
21-04-2025
- Business
- Business Wire
Lomiko Metals Announces the closing of the first tranche of the Private Placement
MONTREAL--(BUSINESS WIRE)--Lomiko Metals Inc. (TSX.V: LMR) ('Lomiko' or the 'Company') is pleased to announce it will apply to the TSX Venture Exchange (the 'Exchange') to close the first tranche of the non-brokered private placement for aggregate gross proceeds of $411,499.98 through the issuance of 3,048,148 units of the Company (each, a 'Unit') at a price of C$0.135. Each Unit will consist of one common share of the Company and one warrant exerciseable for three years at $0.20. Gordana Slepcev, CEO, President, and Director, stated: 'We are pleased to close the first tranche of the private placement, which will be used to continue the pre-feasibility level of the engineering studies for the La Loutre natural flake graphite deposit. The proceeds raised will also support other strategic initiatives, including the bulk sample and anode piloting at the La Loutre project, exploring the Company's Yellow Fox property, regional graphite exploration, and general working capital purposes. A pre-feasibility study enables a wide range of independent consultants, principally based in Quebec, to assess the geology and production model opportunities to select the optimal model that will also mitigate environmental and social risk factors, and best satisfies the vision and objectives of Lomiko as a responsible developer of natural flake graphite in Quebec, Canada for a North American energy supply chain.' While the Company intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the Board. A cash finder's fee $8,775 has agreed to be paid pursuant to the policies of the Exchange. One insider of the Company subscribed for a total of 400,000 Units. As such, this participation constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the Units acquired by the insider nor the consideration for the Units paid by such insider exceeds 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing date of this private placement as details of the respective participation of such insiders in the financing was unknown at such time. All securities issued shall be subject to a hold period expiring four months and one day from their date of issuance. Completion of the financing and the issuance of the securities remain subject to receipt of all necessary regulatory approvals, including the approval of the TSXV. The Company confirms there is no material fact or material change related to the Company which has not been generally disclosed. About Lomiko Metals Inc. The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2). The Property is underlain by rocks from the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism. Lomiko published an updated Mineral Resource Estimate (MRE) in a NI 43-101 Technical Report and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral Resources averaging 4.59% Cg per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the Inferred Mineral Resources to the Indicated Mineral Resource category, relative to the 2021 Mineral Resource Estimate. The MRE assumes a US$1,098.07 per tonne graphite price and a cut-off grade of 1.50% Cg (graphitic carbon). The Company also holds interest in seven early-stage projects in southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The stage graphite portfolio consists of 328 claims in total on 7 early-stage projects covering 18,622 hectares in southern Quebec. Ruisseau–grades up to 27.9 percent carbon graphite ('% Cg') from four distinct high grade mineralized zones that are over 3km long; Meloche–grades up to 13.3% Cg from two distinct mineralized clusters; Tremblant–grades up to 11.6% Cg from numerous, widespread spot anomalies; and Dieppe–grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct mineralized cluster. Boyd–8 samples grades range from 5.61% Cg to 17.10% Cg with all samples above 5.00% Cg In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27 th, 2021. 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. The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. This property is on the same trend as the past-producing antimony mine Beaver Brook, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). The trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at On behalf of the Board, Gordana Slepcev CEO & President and Director, Lomiko Metals Inc. For more information on Lomiko, review the website at 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 total gross proceeds of the offering, the use of proceeds of the offering, the timing and successful completion of the offering; 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);, 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. The FLI in this news release 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: the Company's, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry, and 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 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 such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
