REPORT: Lomiko’s Vines Lake Exploration Results
VANCOUVER – LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, Europe: ISIN: CA54163Q1028, WKN: A0Q9W7,) (the “Company”) has received the final assessment report from the 2011 Vines Lake Exploration Program and has reported the results as summarized below. A new exploration program is recommended for the property in the summer of 2012. The Board of Lomiko is reviewing the report and considering further options to fund exploration.
Zinc values in soil on the western side of Vines Lake were by far the most anomalous on the property, with values reported up to 2,429 ppm. One anomalous zone on the west side of the property measures roughly 122 hectares with an average zinc value of 425 ppm.
The Vines Lake Property is located in the Cassiar Gold Camp in the Liard Mining District of northwestern British Columbia. Lomiko Metals Inc. currently holds the rights to twelve contiguous mineral tenures comprising the property, totaling 5,407 Ha, (13,351 Acres). The 2011 Exploration program was conducted on the original 3 claims acquired in 2006 totaling 1,209 Ha (2,987 Acres). The Vines Lake property has year round paved road access as the property’s northern boundary crosses Hwy 37N, seven kilometers south of the unincorporated settlement of Jade City.
The claims cover rocks of the Sylvester Allochthon, the Cassiar Platform and the Cassiar Batholith located in one of British Columbia’s highly metallogenic regions. The Cassiar Gold Camp hosts both the Table Mountain Gold Property and the Taurus Property both owned by China Minerals Mining Corp. Also proximal to the Vines Lake Property are numerous advanced stage exploration programs targeting base and industrial metals in sedex, massive sulphide volcanogenic exhalite, intrusion driven hydrothermal emplacement, intrusion related skarn, replacement, and vein and porphyry-type depositional environments.
Lomiko expended $357,000 on exploration at the Vines Lake Property in 2011. Previously announced soil analysis results on October 5, 2011 have outlined numerous anomalous gold values up to 0.279 gram per tonne, mostly on the eastern side of the property, adjacent to and surrounded by China Minerals Mining’s Table Mountain gold property. Silver anomalies, also seen on the eastern portion of the property, and not always coincident with gold anomalies, include results up to 19.5 g/t.
Anomalous zinc in both geochemical and lithogeochemical samples are concentrated in a 1.5 by 1.0 km zone where further investigation is recommended.
Numerous barium and bismuth anomalies are outlined, with results returning values up to 1,413 and 3.48 ppm, respectively.
One drill hole targeted a geophysical anomaly which returned with no significant results. The geophysical anomaly could be explained in part by the presence of graphite in faults encountered in the drillhole and the ubiquitous graphitic alteration seen in the calcareous argillites and argillaceous limestones.A phased exploration program is recommended. Infill soil sampling and detailed geological mapping are priorities in the proposed program. The program outlined in this report is targeted at potential sedex and or volcanogenic massive sulphide (VMS) mineralization. A total recommended budget for the 2012 exploration program is estimated to be $556,000.
Lomiko also expanded the land package in the area to 5,407 Ha to encompass similar geology south of the new Zinc discovery.
New Cassiar Developments
China Minerals is evaluating assets in planning for an upcoming summer 2012 exploration drilling program. Cassiar encompasses an entire orogenic gold district with classic greenstone belt geology which has significant historical production. Near-term production upside is possible at the company’s fully owned and permitted mill which is currently on care and maintenance.
The technical information contained in this press release has been reviewed by Garth Kirkham, P.Geo., Kirkham Geosystems Ltd., a Qualified Person as defined by National Instrument 43-101.
For more information, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: email@example.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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