MONTREAL--(BUSINESS WIRE)--Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce the start of a collaboration with Femina Collective (“Femina”) to build on and provide momentum for a more strategic approach to responsible critical minerals development and energy security in North America.
Femina and Lomiko share common goals to address critical issues in the industry, including women’s participation, investment, and advancement in mining and energy transition and the need to draw in new talent and Indigenous worldviews into the energy transition sector. The collaboration can also mitigate the wave of retiring miners in the next years by working with young people and leaders in the industry.
For related facts and statistics, please see the website https://www.thefeminacollective.com/didyouknow. Of note, for the third consecutive year, mining executives have identified environmental, social and governance (ESG) issues as one of the key risks facing the industry, according to EY (2023 report) and this collaboration intends to face these risks with new actions and conversations.
Femina was founded by Beth Borody, a social enterprise that represents women in mining and related sectors through mentorship, networking, and advocacy. She was recognized as one of the Globe and Mail's top 50 Changemakers in Canada for 2021 for her work in pushing the boundaries for mining to be more diverse and inclusive. The enterprise has members across Canada, the USA and abroad. She is also the Founder of the Femina Investment Club.
Belinda Labatte, CEO and Interim Chair of the Board, stated: “The Lomiko team is delighted to collaborate with Femina at this pivotal time. The speed needed to ensure energy security at home, and therefore access to natural resources here, and the urgency to decarbonize requires a transition that engages everyone in new ways. Together with Femina members, Lomiko will expand its reach in education, mentorship and hiring opportunities and support the formation of an investment club led by Beth Borody. The club is focused on improving the investment landscape for mining and enabling more women to access investment opportunities to influence mining projects. This collaboration is another way to lead as a responsible developer and be inclusive in the studies we plan to undertake in 2024, and beyond. We look forward to sharing specific initiatives in the near future and achieving net positive impacts.”
Lomiko's participation at the Prospectors and Developers Association of Canada (“PDAC”)
March 3 to 6, 2024: PDAC, Toronto: booth #2547 in the South Building, 800 Level
March 4: Belinda Labatte, CEO and Interim Chair of the Board, Panel presentation, The Anishnawbe Business Association, “Reconciliation in mining" at the Northern Mining Showcase 11am to 12pm
March 5: Belinda Labatte, will present live at Québec: Unique Mining Ecosystem on March 5, 2024, PDAC, in room 205D at 4:15pm
As events are updated, they will be posted on all our social channels.
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).
In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27th, 2021. 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), in Canada’s lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.
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.
