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Lomiko Metals Inc. (TSX.V: LMR), a prominent player in the mining sector, has recently made a significant change in its management team. The company has announced the appointment of Robert Boisjoli as its new Chief Financial Officer (CFO), effective immediately. This transition comes as the company bids farewell to its former CFO, Jacqueline Michael, who has served in that capacity.
Based in Montreal, Boisjoli brings with him an impressive track record of over 30 years in corporate finance and operational strategy.
His extensive experience includes serving as managing director of the Atwater Financial Group, which specializes in financial reporting services tailored for publicly traded mining corporations. Additionally, he has acted as an advisor for several public exploration firms, and his background as an investment banker with various Canadian securities firms further enhances his qualifications.
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About Lomiko Metals and its mineral interests
Lomiko Metals focuses on developing valuable mineral assets, particularly in graphite mining. The company primarily holds interests in the La Loutre graphite project, located in southern Quebec. This project lies within the traditional territory of the Kitigan Zibi Anishinabeg First Nation, a community that is part of the Algonquin Nation. Spanning 180 kilometers northwest of Montreal, the La Loutre property is a large, continuous block containing 76 mineral claims across a total area of 4,528 hectares (or 45.3 square kilometers).
The geological framework of this site is predominantly formed from the Grenville Province of the Precambrian Canadian Shield. The region is characterized by conditions that have led to the development of high-quality flake-type graphite mineralization, primarily from organic-rich materials subjected to significant metamorphic processes.
Recent updates on mineral resource estimates
In a recent development, Lomiko Metals published an updated Mineral Resource Estimate (MRE) for the La Loutre project, as detailed in a NI 43-101 Technical Report prepared by InnovExplo. This report reveals a substantial increase in the indicated mineral resources, now totaling 64.7 million tonnes with an average of 4.59% Cg (graphitic carbon) per tonne. This translates to approximately 3.0 million tonnes of graphite, reflecting an impressive 184% increase compared to previous estimates.
The recent drilling campaign contributed significantly to this increase, adding 41.5 million tonnes to the indicated resources. The refined models and additional infill drilling efforts have resulted in valuable insights that moved much of the previously inferred resources into the indicated category. The MRE is based on a projected graphite price of US$1,098.07 per tonne and a cut-off grade of 1.50% Cg.
Exploration and future potential
Beyond the La Loutre project, Lomiko Metals holds interests in seven early-stage projects across southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low, and Carmin. Collectively, these projects cover a total of 328 claims over 18,622 hectares within the Laurentian region, further solidifying the company’s presence in the area.
The exploration results from these early-stage projects have also been promising. For instance, the Ruisseau project has reported grades of up to 27.9% Cg across multiple high-grade zones spanning over three kilometers. Other projects, like Meloche and Tremblant, have shown grades of 13.3% Cg and 11.6% Cg, respectively. This diverse portfolio indicates strong potential for Lomiko’s future exploration and development endeavors.
Additional project insights
One noteworthy property in Lomiko’s portfolio is the Yellow Fox Property, located approximately 10 km southwest of Glenwood, Newfoundland and Labrador. This site is strategically positioned near the historic Beaver Brook antimony mine. The Yellow Fox Property is still in the early exploration phase, with significant potential for discovering antimony, gold, and silver. Historical sampling has indicated promising results, including gold concentrations reaching up to 59.43g/t in some instances.
The exploration endeavors in the region are supported by the expertise of qualified professionals who ensure that the highest standards are maintained in assessing the mineral resources. Lomiko continues to rely on partnerships and expert insights to drive its exploration initiatives successfully.
As Lomiko Metals embarks on this new chapter with Robert Boisjoli at the financial helm, the company is poised to enhance its operational capabilities while pursuing its ambitious growth strategies in the mining sector.
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