Lomiko Metals Inc. (LMR: CA) and Canada Strategic Metals Inc. have provided the following update. Lomiko has completed all work and shares payments requirements to earn an 80% interest in the La Loutre Flake Graphite Property. Lomiko paid $364,000 to Canada Strategic in order to complete the second option agreement allowing Lomiko to acquire an 80 % interest in the La Loutre and Lac des Iles graphite projects.
Canada Strategic and Lomiko signed a third option agreement on May 16, 2016 and an amended agreement was signed on January 3, 2017 to allow Lomiko to acquire 100% interest in both properties by issuing 750,000 shares and by financing exploration work for a total amount of $1,125,000 on projects owned by the Company.
A map of hole localisation and results is available on the web site of the Company at: www.csmetals.ca and www.lomiko.com under the Quicklinks tab. Lomiko is currently working on metallurgy and graphite characterization and will return to its drilling campaign in the Fall of 2017.
The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28,67 km2) situated approximately 53 km east of Imerys Carbon and Graphite, formerly known as the Timcal Graphite Mine, North America’s only operating graphite mine, and 117 km northwest of Montreal.
Jean-Sebastien Lavallee (OGQ #773), geologist, shareholder of both companies, Executive Chairman and Exploration Manager of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
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