Lomiko Announces Update on La Loutre Natural Flake Graphite Studies
MONTREAL–(BUSINESS WIRE)–Lomiko Metals Inc. (TSX-V: LMR) (“Lomiko” or the “Company”) is pleased to announce an update on the feasibility studies at the La Loutre natural flake graphite project in Quebec, Canada. In May 2024, Lomiko Metals was awarded US$8.35 million in Defense Production Act Title III funding from the United States of America’s Department of Defense (“DoD”) via a Technology Investment Agreement (“TIA”) and funding of CA$4.9m from Natural Resources Canada (NRCan) to support further studies and anode material piloting at La Loutre. The Company has activated the DoD funding and the NRCan funding contribution. The Company is pleased to report that funds from its last financings in 2023 were applied to the early works on the Phase 1&2 studies, including flow-through funding. In addition, Lomiko has been granted permission by the DoD to transfer the previously awarded funding from Phase 2 works to Phase 1, which provides further funding for the Pre-Feasibility Studies and enables the Company to make more efficient use of capital by applying flow-through funding to the early stages of Phase 2 works. With this transfer of funding, there is a redistribution of the cost-sharing, where Lomiko covers the entire costs of metallurgical studies (Phase 2), and the DoD covers the cost of the engineering studies for the Pre-Feasibility study in Phase 1 while still maintaining 50-50 cost allocations.
Gordana Slepcev, CEO, President and Director, stated:
We are pleased to advance Phases 1&2 of the pre-feasibility studies and metallurgical testing with anode piloting.
“This is a unique demonstration of a partnership that will benefit Quebec and Canada as we further develop the local critical minerals supply chain. Many contractors and consultants participate in these pre-feasibility studies, and we are pleased to be working with local contractors in the Laurentides area, as well as Quebec groups such as P3 Solutions, Corem, SGS, SoftDb and others for the works currently in progress.”
The Company provides the following updates:
Phase 1: Pre-Feasibility Study (“PFS”) and Baseline Data Collection
Lomiko is in the planning stages of initiating the engineering studies to complete the PFS in 2025, subject to access to capital and permitting timelines. The PFS studies to be completed include geotechnical drilling, engineering and power studies, and decarbonization studies for a Net Zero project. Community engagement is considered throughout the study phases. The Company has already accomplished approximately 50% of the feasibility studies to date, including an updated Mineral Resource Estimate in May 2023, which is available on our website at www.lomiko.com. The Company has also completed PFS-level metallurgical testing and battery studies. The Company also intends to complete a Preliminary Economic Assessment of downstream material processing for downstream anode material.
Phase 2: Metallurgical studies, battery and bulk testing
Regarding the bulk sample, Lomiko submitted its application for approval to extract a 200-250mt bulk sample from the EV Zone in December 2024. It also submitted the required documentation for ATI-impact-causing work in late January 2025, as required in Quebec. Pending the permit issuance by the Quebec government, Lomiko aims to start the work on the bulk sample excavation in the second half of March/April, with the work taking approximately 3 to 4 weeks on site. Lomiko is following all requirements of the Quebec government and ECOLOGO best practices for the management of the drilling campaign, including noise management and community consultations. The activities for the bulk sample are effectively quarry operations, as the bulk sample will be processed offsite.
Lomiko is pleased to be creating jobs, working with Quebec contractors and operators on all the bulk sample work and the metallurgical work.
In terms of the Canadian Critical Mineral Research, Development and Demonstration Program, administered by NRCan to pilot the integrated graphite upgrading process for coated spherical purified graphite (cSPG) anode grade product, Lomiko has a 3-year agreement for a total cost of CA$6.6m. NRCan will contribute up to $4.9m in funding, and Lomiko will contribute the remaining $1.7m amount. The Company has already activated this contribution with submissions of spending by Lomiko and will be progressing to the first stage of work later in 2025 after completion of the bulk sample work, which consists of crushing, grinding and flotation of La Loutre graphite.
The Company is also progressing the CRITM grant, “Le Consortium de recherche et d’innovation en transformation métallique (“CRITM”) which completes in 2025, for lab testing on a 1,100kg sample. Final results are expected in April 2025, which will further enhance our knowledge of La Loutre graphite’s rock-to-battery capability.
Corporate Update
Management will present or participate at the following conferences and continue to lead discussions and community meetings regarding the development of graphite in Quebec, Canada, to meet the long-term demand for this critical mineral.
– February 27&28th, 2025, Red Cloud Financials, Toronto – 2025 Pre PDAC Mining Showcase President, CEO and Director Gordana Slepcev will provide the Corporate update on February 28th at 9.40 am.
– PDAC: March 2-5th, 2025, Toronto, Metro Convention Center.
- President, CEO and Director Gordana Slepcev will present on Tuesday, March 4, 2025, at 10.50 am during the session on Electric Materials 1 at Room 801B, Toronto Convention Center.
- Chair of the Board Belinda Labatte will present on Wednesday, March 5th, 2025 at 10.00 am in Room 715.
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Lomiko Announces Update on La Loutre Natural Flake Graphite Studies, source
