Last week, Canada-based Lomiko Metals Inc. (LMR:CA) and Canada Strategic Metals announced that they have received two drilling permits for 5,000 meters a piece at the La Loutre Crystalline Flake Graphite Properties, located in Quebec. With a growing need for pure graphite for the rapidly growing 3D-printing market, the La Loutre property is expected to garner substantial value for Lomiko Metals.
“Approximately 10,000 meters of drilling are planned at La Loutre,” says Lomiko CEO Paul Gill. “Drilling should reach a vertical depth of no more than 150 meters, the ‘rule of thumb’ physical depth limit of a standard open pit.” The program will specifically focus on intersections which start within 15 meters of the surface. This near surface mineralization is expected to reduce the amount of waste rock that needs to be moved, leading to a reduction of overall cost while also minimizing environmental impact.
Pure Graphite is a Valuable Resource for High-Tech Companies
Back in January, Lomiko Metals released data suggesting that the company would need to deliver one million tons of graphite with more than 94% purity in order to be economically viable. That means the minimum resource derived at La Loutre must be at least 20 million tons of 5% Gp – a tall order, perhaps, but also a necessity in the competitive graphite market.
The La Loutre property has reported grab samples of up to 22.04% Carbon Flake Graphite (CFG) and Carbon Purity Test results reporting up to 100.00% Carbon Purity in Large and Extra Large Flake Graphite categories. As the base material used for graphene conversion by Graphene 3D Lab – a subsidiary that’s owned by Lomiko Technologies – the notably pure graphite found at the La Loutre Property could lead to significant growth for Lomiko Metals and its partners.
A Low-Cost Graphite Producer in a Growing Market
Lomiko Metals Inc., is an exploration-stage company that’s engaged in the acquisition, exploration and development of resource properties that contain minerals, while ensuring environmental impact is as minimal as possible. Mineral properties owned by Lomiko Metals include the Quatre Milles Graphite Property and the Vines Lake property, which have both had substantial discoveries as late.
The La Loutre project is a clear illustration of the focus of Lomiko Metals going forward. “Our goal is to become a low-cost producer of graphite in Quebec,” states Gill. The Lomiko CEO points to the Imerys Carbon and Graphite Mine located nearby as a good example of a successful open mining operation established on this principal. With graphene and other graphite-derived materials becoming an increasingly in-demand resource in cutting-edge tech products, the La Loutre Property and similar properties held by Lomiko Metals may very well inspire dramatic growth for Lomiko and its shareholders in the coming years.
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