Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko
Metals” or the “Company”) is pleased to announce it has
successfully completed half-cell coin battery testing of its La
Loutre graphite material with Polaris Battery Labs, LLC
(“Polaris”). Polaris prepared La Loutre’s coated spherical purified
graphite (cSPG) material from flotation concentrate samples and
subjected it to half-cell coin testing to determine its basic
material electrochemical performance metrics. The total mass of
cSPG provided was approximately 160g and originated from coated
purified samples generated by the Corem Innovation Centre in
Quebec, Canada. These samples were micronized and spheronized by
ProGraphite in Germany. The samples are deemed representative of
the La Loutre deposit. Polaris will continue the test program in
2024.
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the full release here:
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Figure 1. Lomiko graphite Half-cell
batteries produced and tested by Polaris (SPG16 top, SPG20 bottom)
(Graphic: Business Wire)
Belinda Labatte, CEO and Interim Chair of the Board stated:
“These initial results from half-cell battery testing (“the Polaris
Study”) confirm excellent graphite properties as detailed below,
thus providing conditions for Lomiko to progress into Phase 2
project activities to produce and test single-layer pouch cells;
these are full cells using our graphite anode material tested
against an industry relevant cathode material. The Polaris studies
are another step we are taking as a part of an approach to
assessing the suitability of our graphite anode materials in a
full-cell format. As the Company grows in its journey as a partner
and developer of choice in Quebec, it will further review the
applications for its graphite in North America and the energy
transition.”
Lomiko is completing the entire ‘rock-to-battery’ testing cycle
as part of its Pre-Feasibility Study (“PFS”). The half-cell battery
testing is now complete with exceptional results, and it is
continuing with the graphite anode pouch cell construction and
testing in Phase 2 with Polaris.
Concurrent with these studies, Lomiko is also working on the
“NRC Study” announced on July 27, 2023, which aims to advance
pre-feasibility level battery trials with its La Loutre natural
flake graphite concentrate.”
Background and Summary of Lomiko Metallurgical Tests
The testing cycle started in the summer of 2022 with 640 kg of
drill core provided from the existing core storage. These core
samples originated from both the Battery and EV zones of the La
Loutre deposit and are considered representative.
The first study (“The ProGraphite Characterization Study”) was
performed on flotation concentrate that was produced at SGS
Lakefield from the 640kg core samples. Various pre-feasibility
(“PFS”) level metallurgical tests and a study were completed,
including optimization of the flotation circuit, resulting in
achieving 94.7% recovery and reconciled LCT (Locked Cycle Testing)
testing grades at 99.1%Cg. For detailed results, please see the
press release dated February 6, 2023. The work was directed by
Metpro Management Inc.
In the second study, “The ProGraphite SPG Study”, testing was
completed on a 10.5 kg bulk flotation sample prepared by SGS Canada
Inc. ProGraphite, Germany, used this sample for micronization,
spheroidization, and purification testing to produce spheroidized
and purified graphite (SPG), which is the material required for the
anode in Electric Vehicles (EVs). All physical characterization
tests produced very good results, such as narrow particle size
distribution range and high tap density and met the target values
for Electric Vehicle and other lithium-ion based battery
applications. Two purification methods were investigated on the La
Loutre SPG, namely alkaline and acid purification. A total of 100 g
of the SPG20 spherical graphite was subjected to intensive alkaline
purification. For detailed results, please see the press release
dated May 3, 2023.
The micronized and spheronized graphite was then purified and
carbon coated by Corem to produce 160g each of coated spherical
graphite cSPG16 & cSPG20 for the Polaris Study.
The Polaris Coin Cell Study
In “The Polaris Coin Cell Study”, cSPG batches were sent to
Polaris in Oregon, USA, for battery testing, including half-cell
coin and pouch battery testing. At this point, Lomiko is reporting
only on the half-cell test results. Pictures of the half-cells made
with Lomiko cSPG are pictured in Figure 1.
Highlights of this study:
Reversible delithiation capacity at C/10 of ~356 mAh/g and
~358mA/h respectively, which is above the commercial reference
graphite material testing at an average 345mA/h. C-rating describes
the current the battery will deliver over the specific period, with
C/10 being 10 hours.
All half-cell coin batteries were constructed using a batch of
20g of cSPG casted on a Cu current collector and 304SS CR2032 coin
cell can components.
Figure 2 and Figure 3 depict the charging (delithiation)
performance of the cSPG20 and cSPG16 samples from La Loutre,
respectively, at different charge rates. The plots reveal the good
performance of the La Loutre SPG with superior charging capacity
compared to commercial graphite in the market today in North
America.
Both SPG16 and SPG20 outperform the commercial reference in
achievable gravimetric capacity which means that with the
electrochemical performance results produced by Polaris, Lomiko has
now successfully demonstrated the full value chain from ore to
battery anode material on samples from the La Loutre project.
Next Steps
In Phase 2, cathode and prepared anodes will be combined into a
single-layer pouch cell format to undergo a basic testing regime
with possible extended testing which will allow Lomiko to
demonstrate technical specifications to meet battery manufacturing
requirements.
Qualified Persons
Mr. Oliver Peters, a Principal Metallurgist with Metpro
Management Inc., is a Qualified Person within the meaning of NI
43-101. Mr. Peters is satisfied that the analytical and testing
procedures used are standard industry operating procedures and
methodologies, and he has reviewed, approved and verified the
technical information disclosed in this news release, including
sampling, analytical and test data underlying the technical
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 April 13, 2023 Updated Mineral Resource
Estimate (MRE) 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).
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.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko
Metals Inc.
For more information on Lomiko Metals, review the website at
www.lomiko.com
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 Company’s objective to become
a responsible supplier of critical minerals, exploration of the
Company’s projects, including expected costs of exploration, and
timing to achieve certain milestones, including 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); any anticipated impacts of
COVID-19 on the Company’s business objectives or projects, the
Company's financial position or operations, 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, and statements relating to the
intended use of proceeds of the Offering and the receipt of final
acceptance of the TSX Venture Exchange. 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: current market for critical minerals; current
technological trends; the business relationship between the Company
and its business partners; ability to implement its business
strategy and to fund, explore, advance and develop each of its
projects, including results therefrom and timing thereof; the
ability to operate in a safe and effective manner; uncertainties
related to receiving and maintaining exploration, environmental and
other permits or approvals in Quebec; any unforeseen impacts of
COVID-19; 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 www.sedar.com, 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.
Neither the 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 news release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240110245904/en/
Gordana Slepcev at 647-781-7344 or Belinda Labatte at
647-402-8379 or at 1-833-456-6456 or 1-833-4-LOMIKO or email:
info@lomiko.com
Grafico Azioni Lomiko Metals (TSXV:LMR)
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