Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce that in connection with its
previously announced amended option agreement (the “Option
Agreement”) with Critical Elements Lithium Corporation (“CELC”) on
the Bourier project (see news release dated January 25, 2022 for
more details) and the successful earn in of 49% announced on
December 20, 2023, the parties have agreed to amend the terms of
the second option under the Option Agreement (the “Second Option”).
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).
The amendment is as follows: CELC grants to Lomiko, until
December 31, 2025, the exclusive right and option to increase its
undivided interest in and to the Bourier project from 49% to 70% by
making an additional cash payment to CELC in an amount of two
hundred fifty thousand dollars ($250,000), by issuing to CELC an
aggregate of two million five hundred thousand (2,500,000) common
shares of Lomiko (the “Cash and Shares Commitment”), by incurring
or funding additional exploration expenditures for an amount of two
million dollars ($2,000,000) (the “Expenditures Commitment”) and by
delivering a NI 43-101 compliant resource on the Property (the
“Resource Estimate”) prepared by a qualified person independent of
Lomiko and CELC as follows (noting that the financial commitments
of Lomiko and Resource Estimate deliverable under the original
Option Agreement remain unchanged):
(a) no later than March 31st, 2024,
completing the Cash and Shares Commitment; (b) on or before
December 31, 2025, incurring or funding the Expenditures
Commitment; and (c) on or before December 31, 2025, delivering the
Resource Estimate.
Investor Events
February 1, 2024: Battery and Precious Metals Virtual
Investor Conference
Belinda Labatte, CEO and Interim Chair of the Board, will
present live at the Battery and Precious Metals Virtual Investor
Conference, hosted by VirtualInvestorConferences.com, on February
1st, 2024 at 11am. Link: https://bit.ly/3O92vPo. Interested
investors can meet with management February 1, 2, 5 and 6. This
will be a live, interactive online event and it is recommended that
online investors pre-register and run the online system check to
expedite participation and receive event updates. For more details:
www.virtualinvestorconferences.com.
March 3 to 6, 2024: PDAC, Toronto
Please visit us at the booth #2547 in the South Building, 800
Level Belinda Labatte, CEO and Interim Chair of the Board, will
present live at Québec: Unique Mining Ecosystem on March 5,
2024
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).
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/20240125007519/en/
Gordana Slepcev or Belinda Labatte at 1-833-456-6456 or
1-833-4-LOMIKO or email: info@lomiko.com
For media and community enquiries: communauté@lomiko.com
Grafico Azioni Lomiko Metals (TSXV:LMR)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Lomiko Metals (TSXV:LMR)
Storico
Da Dic 2023 a Dic 2024