SOURCE: Lomiko Metals Inc.

Lomiko Metals Inc.

September 05, 2014 11:25 ET

Prospecting Confirms a 1 km Long Structure With Visible Crystalline Flake Graphite at the Quatre Milles West Property

VANCOUVER, BC--(Marketwired - Sep 5, 2014) - LOMIKO METALS INC. (TSX VENTURE: LMR) (OTCQX: LMRMF) (FSE: DH8B) (the "Company") reports that Consul-Teck of Val-d'Or has completed prospecting and cartography work on the Quatre Milles West property to investigate the positive VLF survey results reported on July 14, 2014. Samples were taken from several areas indicating significant presence of surface graphite, and channel sampling was performed where mineralized outcrops were well exposed.

"The extent of near surface graphite mineralization at Quatre Milles West is an unexpected surprise that prompted our geological team to investigate further," stated A. Paul Gill, CEO of Lomiko Metals Inc. "Prospecting now confirms we have a new discovery that merits a drilling campaign."

Forty-three grab samples and 39 channel samples were taken during the prospecting campaign along the mineralized zone with visible crystalline flake graphite. Channel samples targeted a mineralized zone along a thick marble unit (2-10 metres) that can be traced for at least 1 km.

The major concentration of significant graphite was observed in carbonate-rich units, such as marble, calcsilicate rocks and some paragneiss. The facies show graphite observed in the zone with alternation of thin decimetric biotite-rich paragneiss and mid-grained marble. The past sedimentology conditions for such basins would suggest significant basin depth that would generate partial-extinction plankton (microorganisms). The presence of pyrrhotite in that lithology is consistent with this hypothesis.

Multiple tectonic episodes created the conditions needed to change the morphology of the lithologies and concentrate the graphite. 

Mylonitisation concentrated the graphite into a series of dark, parallel, centimetre-thick layers in a marble that originally showed a low grade. Such zones are planar with varying thicknesses and concentrations that depends on the size of the potential crosscutting lithology.

Most of the VLF anomalies strike E-W and appeared to be associated with faults, rivers, swamps, marshes and moraines. Actual synsedimentary graphite mineralization sub-conforms to foliation, so would have an NE-SW orientation and a thickness of 2-10 m. The current geophysical interpretation does not indicate this orientation.

Locally, a tectonic enrichment of graphite showed an E-W direction, diving lower to the South. The graphite bodies generated by tectonic enrichment will be thin and limited to the fertile lithologies.

Previously-reported drill results at the Quatre Milles property indicate extensive mineralization in the region. The Quatre Milles Project NI 43-101 Technical Report with all Phase I and historical drill results can be found on the Lomiko website. On March 13, 2014, Lomiko closed a financing for $5.5 million for the purpose of advancing the Quatre Milles property and investing in technology.

All the samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of Consul-Teck. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separated and pulverized to 85% passing 75µm. All samples are analyzed for carbon graphite using C-IR18.

Jean-Sebastien Lavallée (OGQ #773), geologist, shareholders and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

For more information, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com

On Behalf of the Board

"A. Paul Gill"

Chief Executive Officer

We seek safe harbor. Neither 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 release.

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