Lomiko Metals has a new vision and a new strategy in new energy. Lomiko is a people-first company seeking to manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. The Company holds a 100% interest in its La Loutre graphite development in southern Quebec, located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory situated within the Outaouais and Laurentides regions. About 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 48 claims totaling 2,867 hectares. Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on September 10, 2021 which clearly demonstrated its potential for Lomiko to become a major North American graphite producer. The PEA supports an open pit project with the annual production of 100,000t of graphite spanning 15 years with robust economics at a US$916/tonne Cg sale price, with very attractive cash costs and all-in sustaining costs (“AISC”). The PEA indicates the property has the geological potential to extend mine life beyond the initial 15 years presented in the PEA, as well as the opportunity to expand the scale of production by increasing the mineral resource through ongoing exploration and drilling. Lomiko’s goal is for La Loutre to be a cornerstone mine for its future growth in Quebec, and it plans to commence a Preliminary Feasibility Study (PFS) and continue with Environmental Impact Studies in 2022.
The Bourier project site, located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec, consists of 203 claims, for a total ground position of 10,252.20 hectares, in Canada’s lithium triangle region of Quebec that has historically housed lithium deposits and mineralization trends. Lomiko and Critical Elements Lithium Corporation mandated GoldSpot Discoveries Corp. in the summer of 2021 to conduct a remote targeting process for lithium on the Bourier claims within the Nemiscau belt. GoldSpot’s proprietary approach of Artificial Intelligence (AI) and geological interpretation identified a total of 15 high to moderate prospective lithium targets. Preliminary field exploration results have revealed the discovery of five new sectors of spodumene-rich (Li) pegmatites, highlighting the potential of the Bourier project.