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MONTREAL, QUEBEC and VANCOUVER, BRITISH-COLUMBIA--(Marketwired - Mar 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.
|All Zones||?â 3.0||4,137,300||6.50||268,800|
|All Zones||?â 3.0||6,181,000||6.11||377,600|
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.
Jean-Sebastien Lavallee, P. Geo
President and Chief Executive Officer
Paradox Public Relations