Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) is pleased to announce an update on the optimization
studies of the concentrator flowsheet design and the development of
graphite value-add processes, as detailed below.
Lomiko Metals completed a pre-feasibility (“PFS”) level
flotation flowsheet optimization program that culminated in a
flowsheet for the Company’s PFS for its La Loutre property. The
samples submitted for metallurgical testing were selected by
InnovExplo in Val-d'Or, Quebec. Three different types of composites
were generated, mine plan, domain, and grade composites. The mine
plan composites represented the first several years of expected
mine operations and were blended in the appropriate ratio into a
master composite containing material from the EV Zone. This master
composite was used in the flowsheet optimization program and
produced consistent high-grade flotation concentrates. The total
weight of the samples was approximately 640kg.
The flowsheet optimization program was carried out by SGS
Lakefield Inc. (SGS) using the above samples and the final report
was completed by Metpro Management Inc.
At the end of the optimization program, this master composite
containing only material from the EV Zone was subjected to a
locked-cycle flotation test (“LCT”). The LCT simulates the
metallurgical performance of a continuous plant operation. The LCT
produced a combined concentrate grade of 98.6% C(g) at a
closed-circuit graphite recovery of 94.7%. Please refer to Table 1
for details.
The robustness of the flowsheet was verified in open-circuit
tests with twelve variability composites, which represented
different phases in the mine plan, domains, and head grades. The
average concentrate grade of the 15 variability flotation tests,
which included three repeat tests, was 97.9% C(t) with a low
relative standard variation of 1.08%. Taking into account the
standard deviation, the lowest value of 95.2% C(t) is considered an
outlier. All other tests produced consistently high grades between
96.4% C(t) and 99.7% C(t) as shown in Table 2.
Belinda Labatte, CEO and Director stated: “We are very pleased
to achieve a high purity of La Loutre’s graphite flotation
concentrate in the LCT testing which is indicative of the grades to
be produced in the operational setting. It is very encouraging to
see that the PFS level of metallurgical testing shows that Lomiko
can achieve a purity of 98.6% C(g) while recovering 94.7% C(g) of
the graphite using a master composite that represents the first
several years of operations. The consistently high flotation
concentrate grades that were achieved from head grades ranging from
as low as 1.39% C(g) to as high as 9.86% C(g) demonstrate a high
level of robustness of the proposed flow sheet.”
Table 1: Locked Cycle Mass Balance of EV Master
Composite
Sample ID
Weight
Assays (%)
% Distr.
%
C(t)
C(t)
Combined Conc
6.01
98.6
94.7
+80 mesh 2nd Clnr Conc
2.07
98.2
32.5
+80 mesh 1st Clnr Tails
0.07
46.8
0.6
-80 mesh 3rd Clnr Conc
3.94
98.8
62.2
-80 mesh 1st Clnr Tails
0.24
7.22
0.3
2nd Clnr Tails
2.16
1.40
0.5
1st Clnr Tails
15.4
0.79
2.0
Scav Tails
76.2
0.17
2.1
Combined Tailings
94.1
0.36
4.9
Head (calc)
100
6.26
100.0
Open-Circuit Tests
A summary of pertinent results of the variability flotation
program is presented in Table 2 including a basic statistical
analysis.
The open-circuit graphite recovery displayed more variance with
graphite recoveries between 78.0% and 92.6% with an average value
of 87.2%. Open-circuit tests treat intermediate tailings streams as
final tailings and, therefore, overstate losses that would be
incurred during closed-circuit operation. In a commercial plant the
circuit is closed and the intermediate tailings are cycled back to
the previous flotation stage. This allows any graphite particles
lost to the intermediate tailings to be recovered into the
flotation concentrate. Hence, overall graphite recoveries are
expected to increase noticeably during closed circuit operation as
demonstrated by the LCT.
The robustness of the proposed flowsheet and conditions is
further underlined by the fact that these very consistent
metallurgical results were achieved for head grades ranging from as
low as 1.39% C(g) to as high as 10.3% C(g). This range of head
grade variation frequently requires significant adjustments to the
process conditions, which was not required for the La Loutre
mineralization since all tests employed identical flotation
conditions.
Repeat tests conducted on three composites
displayed very low test-to-test variance with regards to final
concentrate grade and open circuit recovery.
Table 2: Variability Flotation Results
Composite
Composite ID
Head Grade % C(g)
Concentrate Grade %
C(t)
Recovery % C(g)
Mine Plan Composite
MP_FLOT_EV2
9.37
98.1
92.6
MP_FLOT_EV3
6.84
98.3
92.0
MP_FLOT_EV4
6.52
99.3
91.6
MP_FLOT_EV5
5.02
99.5
90.8
Domain Composite
DOM_FLOT_EV2
10.3
99.7
89.2
DOM_FLOT_EV3
9.86
97.9
91.2
DOM_FLOT_BAT2
4.13
97.2
86.5
DOM_FLOT_EV3
9.91
97.7
90.3
DOM_FLOT_BAT2
4.10
97.6
86.6
Grade Composite
GRAD_FLOT_EV1
2.79
95.2
84.5
GRAD_FLOT_EV2
1.39
97.9
81.0
GRAD_FLOT_EV3
4.29
96.9
85.6
GRAD_FLOT_EV4
5.04
98.5
78.0
GRAD_FLOT_BAT1
5.17
96.4
84.6
GRAD_FLOT_BAT1
5.30
97.9
83.5
Average
97.9
87.2
Min
95.2
78.0
Max
99.7
92.6
StdDev
1.17
4.38
Rel. StdDev
1.20
5.02
LCT Size Fraction Analysis
In the LCT test, the final concentrates of the EV master
composite LCT were submitted for a size fraction analysis and the
weighted combined concentrate grade and size distribution are
presented in Table 3. A total of 24% of the concentrate mass
reported to the +80 mesh size fractions at a grade of 98.6% C(t).
Approximately 12.7% of the mass reported to the -325 mesh product
at a very high grade of 99.0% C(t).
The EV zone is scheduled to be mined first and accounts for
two-thirds of the graphite production as outlined in the July 2021
Preliminary Economic Assessment (“PEA”).
The high flotation concentrate grades facilitate different
marketing or process options. The study indicates it may be
possible to sell the high-grade concentrates into specialty markets
that require a 98-99% C(t) concentrate grade.
Table 3: EV Master Composite Flake Size
Distribution
Flake Category
Size Fraction
Weight
Assays
Distribution
%
% C(t)
% C(t)
Extra Large or Jumbo
+32 mesh
0.4
98.3
0.4
+48 mesh
5.6
98.7
5.5
Large
+65 mesh
10.6
98.3
10.5
+80 mesh
7.5
98.3
7.4
Medium
+100 mesh
9.5
98.8
9.4
Small
+150 mesh
17.0
99.4
17.1
+200 mesh
18.6
99.6
18.7
Fine/Amorphous
+325 mesh
18.2
99.5
18.2
+400 mesh
6.0
99.3
6.0
-400 mesh
6.7
98.7
6.6
Final Concentrate (SA)
100.0
99.1
100.0
The reconciled combined concentrate grade of 99.1% C(t) is
slightly higher than the direct concentrate grade of 98.6% C(t) for
the LCT. The reasons for the small discrepancies are sampling and
analytical measurement uncertainties, which are inherent with any
assay method.
Next Steps
A 10.5 kg bulk flotation concentrate was generated during the
PFS metallurgical program and has been dispatched to ProGraphite in
Germany for micronization, spheroidization, and purification
testing to produce spheroidized and purified graphite (SPG).
Results of this value-add program are expected late Q1 or early Q2
2023.
Parallel purification work will be conducted by Corem in Quebec
City, where Corem will further upgrade the SPG material by carbon
coating into coated, spheroidized, and purified graphite (CSPG),
which will then be evaluated in battery trials by Polaris Battery
Labs. Complete test results are expected in late Q2 or early Q3
2023. The Company continues to actively work with partners in
Quebec for battery trials as a next step.
The Company’s updated investor presentation and website can be
found at www.lomiko.com.
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
located 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 kilometres northwest of Montreal,
the property consists of one large, continuous block with 76
mineral claims totalling 4,528 hectares (45.3 km2).
The property is underlain by rocks belonging to the Grenville
Province of the Precambrian Canadian Shield. The Grenville was
formed under conditions that were very favourable for the
development of coarse-grained, flake-type graphite mineralization
from organic-rich material during high-temperature
metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic
Estimate (PEA) which indicated the project had a 15-year mine life
producing per year 100,000 tonnes of graphite concentrate at 95% Cg
or a total of 1.5Mt of graphite concentrate. This report was
prepared as National Instrument 43-101 Technical Report for Lomiko
Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem
Inc., Moose Mountain Technical Services, and Metpro Management
Inc., collectively the Report Authors.
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. 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. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20230206005562/en/
Gordana Slepcev at 647-391-7344 or Belinda Labatte at
647-402-8379 or at 1-833-456-6456 or 1-833-4-LOMIKO or email:
info@lomiko.com.
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