Canada Strategic Metals and Lomiko Metals: File NI43-101 Report for La Loutre Property
24.03.2016 | Marketwired
MONTREAL and VANCOUVER - March 24, 2016 - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC) (FRANKFURT:YXEN) (OTCBB:CJCFF) and Lomiko Metals Inc. (TSX VENTURE:LMR) (OTCQX:LMRMF) (FRANKFURT:DH8B) announces that, further to their news release of February 9, 2016, they have filed their National Instrument 43-101 technical report titled "Technical Report and Mineral Resource Estimate for the La Loutre Property" dated March 24, 2016, on Sedar (www.sedar.com).
The Resource for the La Loutre Flake Graphite Property of 18.4 M Tonnes of 3.19% Indicated and 16.7 M Tonnes at 3.75% Flake Graphite Inferred with a cut-off of 1.5%. The sensitivity table also features 4.1 M Tonnes of 6.5% Indicated and 6.2 M Tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%. The Resource is estimated on the Graphene-Battery Zone only and does not include recent high grade intercepts of 28.5 metres of 16.53% Cg and 21.5 metres of 11.53% Cg reported January 6, 2016 and 9% over 90.75 metres reported September 24th, 2015 from the Refractory Zone.
The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28.67 km2) situated approximately 53 km east of Imerys Carbon and Graphite, formerly known as the Timcal Graphite Mine, North America's only operating graphite mine, and 117 km northwest of the International Port of Montreal, key to shipping to North America and Europe. Lomiko is currently completing an option to acquire 80% of the property which requires $665,000 more in work and issuing of 1.5 Million shares to be issue February 15th, 2016.
The La Loutre Resource is constrained within a drilled area of approximately 900 m along the N150° striking trend of the graphitic paragneiss, 250 m across the strike and 300 m below surface. Geological interpretation and mineral resource estimation were based on 62 NQ-size drill holes (totaling 8,193.3 m) drilled by Lomiko and Canada Strategic Metals in 2014 and 2015.
InnovExplo performed the geological interpretation of lithological domains and mineralized zones using vertical sections spaced 50 metres apart. The mineralized zones strike with an average trend of N150° and an average dip of 45°. A minimum width of 4.0 meters (true width) was respected for the interpretation. InnovExplo constructed wireframes of lithological domains and mineralized zones showing a sufficient continuity. The 2016 Mineral resource Estimate includes 18 graphite-bearing zones with high graphitic carbon grades (assays > 4% Cg), 4 graphite-bearing zones with low graphitic carbon grades (assays < 4% Cg), 5 graphite-bearing quartzite domains (assays < 4% Cg), and a remaining external envelope hosting isolated low graphitic carbon grades.
The mineral resource was estimated using 3-D block modeling (block size = 5 m x 5 m x 5 m). The grades of the blocks were estimated using the inverse distance squared (ID2) interpolation method for a 1000-metre strike length corridor and up to a vertical depth of 300 metres below surface.
The resources are constrained in a Pit shell of 1,100 m by 350 m and a maximal depth of 200 m.
2016 Pit constrained Mineral Resource Estimate (Indicated and Inferred resources) at different cut-off grades - La Loutre Property. The official resource is reported at a cut-off grade of 1.5 % Cg.
| Indicated Resource | ||||
| Zone | Cut-off Cg (%) | Tonnage (metric tonne) | Grade Cg (%) | Graphite (metric tonne) |
| All Zones | ?â 3.0 | 4,137,300 | 6.50 | 268,800 |
| ?â 2.5 | 6,927,500 | 4.95 | 342,900 | |
| ?â 2.0 | 15,181,200 | 3.49 | 529,200 | |
| ?â 1.5 | 18,438,700 | 3.19 | 588,400 | |
| ?â 1.0 | 19,005,400 | 3.13 | 595,700 | |
| ?â 0.8 | 19,137,500 | 3.12 | 596,900 | |
| ?â 0.6 | 19,279,600 | 3.09 | 595,300 | |
| ?â 0.5 | 19,381,900 | 3.09 | 598,400 | |
| Inferred Resource | ||||
| Zone | Cut-off Cg (%) | Tonnage (metric tonne) | Grade Cg (%) | Graphite (metric tonne) |
| All Zones | ?â 3.0 | 6,181,000 | 6.11 | 377,600 |
| ?â 2.5 | 9,699,200 | 4.86 | 471,800 | |
| ?â 2.0 | 15,332,000 | 3.92 | 600,300 | |
| ?â 1.5 | 16,675,100 | 3.75 | 624,900 | |
| ?â 1.0 | 16,927,300 | 3.71 | 628,000 | |
| ?â 0.8 | 17,120,500 | 3.68 | 629,700 | |
| ?â 0.6 | 17,306,700 | 3.63 | 628,100 | |
| ?â 0.5 | 17,400,900 | 3.63 | 631,600 | |
- The Independent and Qualified Persons (QPs) for the Mineral Resource Estimate, as defined by NI 43 101, are Bruno Turcotte, M.Sc., P.Geo., and Guilhem Servelle, M.Sc., P.Geo, both of InnovExplo. The estimate was prepared under the supervision of Vincent Jourdain, PhD, Eng., Technical Director of InnovExplo Inc.
- The effective date of the estimate is January 15, 2016.
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
- Pit constrained results are presented undiluted within a Whittle-optimized pit shell, designed with a 30-m buffer around lakes.
- The estimate includes 18 graphite-bearing zones with high graphitic carbon grades (assays > 4% Cg), 4 graphite-bearing zones with low graphitic carbon grades (assays < 4% Cg), 5 graphite-bearing quartzite domains (assays < 4% Cg), and a remaining external envelope hosting isolated low graphitic carbon grades.
- Pit-constrained resources were compiled at cut-off grades of 0.5, 0.6, 0.8, 1.0, 1.5, 2.0, 2.5 and 3.0% Cg. The official pit-constrained resource is reported at a cut-off grade of 1.5% Cg (grey highlighting).
- Cut-off grades must be re-evaluated in light of prevailing market conditions (graphite price, exchange rate and mining cost, etc.).
- Density (g/cm3) data used is on a per zone basis varying from 2.70 to 2.85 g/cm3.
- A minimum true thickness of 4.0 m was applied, using the grade of the adjacent material when assayed, or a value of zero when not assayed.
- Based on a study of the effect of high-grade values (basic statistical analysis), no raw assays were capped for the mineralized zone, the lithological domains or the external envelope considered in the 2016 Mineral Resource Estimate. Compositing was done on drill hole sections falling within any of the interpreted mineralized zones, lithological domains or external envelope (composite = 1.5 m).
- Resources were estimated using GEOVIA GEMS 6.7 software from surface drill holes, using inverse distance squared (ID2) interpolation method in a block model (block size = 5 m x 5 m x 5 m).
- By default, interpolated blocks were assigned to the Inferred category. The reclassification to an Indicated category was done in areas with sufficient density of visually observed information and supported by a maximum distance to drill hole composite of 30 m.
- Calculations used metric units (metres, tonnes and %).
- The number of metric tonnes was rounded to the nearest hundred. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
- InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate.
- Whittle parameters (all amounts in Canadian dollars): Mining cost=$3.75; Processing cost=$9.40/t; G&A=$2.11/t; graphite price=$1,910/t; mining recovery=90%; milling recovery=95%; dilution=10%; wall slopes=45° (rock) and 18° (overburden).
QUALIFIED PERSONS
Jean-Sébastien Lavallée (OGQ #773), P. Geo, shareholder of both companies, President & CEO of Canada Strategic Metals and is Qualified Person as defined by National Instrument 43-101. Mr. Lavallée drafted, reviewed and approved the technical and scientific content of this press release, except for the content relating to the resource estimate.
The resource estimate and this press release has been reviewed and approved by Bruno Turcotte, P. Geo, Guilhem Servelle, P. Geo., and Vincent Jourdain, Eng., who are qualified persons within the meaning of the National Instrument 43-101 guidelines.
The resource estimate was prepared under the supervision of Vincent Jourdain, an InnovExplo consulting engineer. Mr. Jourdain, an independent qualified person within the meaning of National Instrument 43-101, has reviewed and approved the technical content of this press release as it relates to the resource estimate.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 20,000 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
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 release.
Contact
Jean-Sebastien Lavallee, P. Geo, President and Chief Executive Officer
819-354-5146
Paradox Public Relations
514-341-0408