Cda Strategic, Lomiko file La Loutre NI 43-101 report
CANADA STRATEGIC TSXV:CJC AND LOMIKO TSXV:LMR FILE NI43-101 REPORT FOR LA LOUTRE PROPERTY
Further to their news release of Feb. 9, 2016, Canada Strategic Metals Inc. and Lomiko Metals Inc. 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.
The resource for the La Loutre flake graphite property of 18.4 million tonnes of 3.19 per cent flake graphite indicated and 16.7 million tonnes at 3.75 per cent flake graphite inferred with a cut-off of 1.5 per cent. The sensitivity table also features 4.1 million tonnes of 6.5 per cent flake graphite indicated and 6.2 million tonnes at 6.1 per cent flake graphite inferred with a cut-off of 3 per cent. 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 per cent graphitic carbon and 21.5 metres of 11.53 per cent graphitic carbon reported Jan. 6, 2016, and 9 per cent graphitic carbon over 90.75 metres reported Sept. 24, 2015, from the Refractory zone.
The La Loutre property consists of contiguous claim blocks totalling approximately 2,867.29 hectares (28.67 square kilometres) situated approximately 53 kilometres east of Imerys Carbon and Graphite, formerly known as the Timcal graphite mine, North America’s only operating graphite mine, and 117 kilometres northwest of the International Port of Montreal, key to shipping to North America and Europe. Lomiko is currently completing an option to acquire 80 per cent of the property, which requires $665,000 more in work and issuing of 1.5 million shares to be issued Feb. 15, 2016.
The La Loutre resource is constrained within a drilled area of approximately 900 metres along the north-150-degree-striking trend of the graphitic paragneiss, 250 metres across the strike and 300 metres below surface. Geological interpretation and mineral resource estimation were based on 62 NQ-size drill holes (totalling 8,193.3 metres) 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 north 150 degrees and an average dip of 45 degrees. A minimum width of four metres (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 greater than 4 per cent graphitic carbon), four graphite-bearing zones with low graphitic carbon grades (assays less than 4 per cent graphitic carbon), five graphite-bearing quartzite domains (assays less than 4 per cent graphitic carbon) and a remaining external envelope hosting isolated low graphitic carbon grades.
The mineral resource was estimated using 3-D block modelling (block size of five metres by five metres by five metres). The grades of the blocks were estimated using the inverse-distance-squared (ID2) interpolation method for a 1,000-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 metres by 350 metres and a maximal depth of 200 metres.
The 2016 pit-constrained mineral resource estimate (indicated and inferred resources) is shown in the attached table at different cut-off grades. The official resource is reported at a cut-off grade of 1.5 per cent graphitic carbon.
LA LOUTRE PROPERTY MINERAL RESOURCE ESTIMATE
INDICATED RESOURCE
Zone Cut-off Tonnage Grade Graphite
Cg (%) (metric tonnes) (%) (metric tonnes)
All zones 3.0 4,137,300 6.50 268,800
2.5 6,927,500 4.95 342,900
2.0 15,181,200 3.49 529,200
1.5 18,438,700 3.19 588,400
1.0 19,005,400 3.13 595,700
0.8 19,137,500 3.12 596,900
0.6 19,279,600 3.09 595,300
0.5 19,381,900 3.09 598,400
INFERRED RESOURCE
Zone Cut-off Tonnage Grade Graphite
Cg (%) (metric tonnes) (%) (metric tonnes)
All zones 3.0 6,181,000 6.11 377,600
2.5 9,699,200 4.86 471,800
2.0 15,332,000 3.92 600,300
1.5 16,675,100 3.75 624,900
1.0 16,927,300 3.71 628,000
0.8 17,120,500 3.68 629,700
0.6 17,306,700 3.63 628,100
0.5 17,400,900 3.63 631,600
- The independent and qualified persons for the mineral resource estimate,
as defined by National Instrument 43-101, are Bruno Turcotte, MSc, PGeo,
and Guilhem Servelle, MSc, PGeo, both of InnovExplo. The estimate was
prepared under the supervision of Dr. Vincent Jourdain, PhD, Eng,
technical director of InnovExplo Inc.
- The effective date of the estimate is Jan. 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-metre buffer
around lakes.
- The estimate includes 18 graphite-bearing zones with high graphitic
carbon grades (assays greater than 4 per cent Cg), four graphite-bearing
zones with low graphitic carbon grades (assays less than 4 per cent Cg),
five graphite-bearing quartzite domains (assays less than 4 per cent 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 per cent Cg. The official pit-constrained
resource is reported at a cut-off grade of 1.5 per cent Cg.
- Cut-off grades must be re-evaluated in light of prevailing market
conditions (graphite price, exchange rate and mining cost).
- Density data used are on a per-zone basis varying from 2.70 to
2.85 grams per cubic metre.
- A minimum true thickness of four metres 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 equals 1.5 metres).
- 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 of five metres by five metres by five metres).
- 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 metres.
- Calculations used metric units (metres, tonnes and per cent).
- 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
issues that could materially affect the mineral resource estimate.
- Whittle parameters (all amounts in Canadian dollars): mining cost
of $3.75 per tonne; processing cost of $9.40 per tonne; general and
administrative expense of $2.11 per tonne; graphite price of $1,910
per tonne; mining recovery of 90 per cent; milling recovery of
95 per cent; dilution of 10 per cent; and wall slopes of 45 degrees
(rock) and 18 degrees (overburden).
Qualified persons
Jean-Sebastien Lavallee (OGQ No. 773), PGeo, shareholder of both companies, president and chief executive officer of Canada Strategic Metals and is qualified person as defined by NI 43-101. Mr. Lavallee 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 have been reviewed and approved by Bruno Turcotte, PGeo, Guilhem Servelle, PGeo, and Vincent Jourdain, Eng, who are qualified persons within the meaning of the NI 43-101 guidelines.
The resource estimate was prepared under the supervision of Mr. Jourdain, an InnovExplo consulting engineer. Mr. Jourdain, an independent qualified person within the meaning of NI 43-101, has reviewed and approved the technical content of this press release as it relates to the resource estimate.
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