Lomiko will spend $500,000 in exploration work on the project to acquire 40% interest, as part of a deal signed in September.
The exploration program is designed to evaluate graphite mineralization at La Loutre project is suitable for conversion to battery-grade graphite.
Covering 25.09km², the La Loutre property is located around 53km east of Timcal’s Lac des Iles graphite mine, and comprises one large contiguous block of 42 mineral claims.
Sampling and mapping on the property has yielded graphite bearing structures over an area of around 7km by 1km with up to 22.04% graphite in multiple parallel zones of up to 50m wide.
Another area covering about 2km by 1km in multiple parallel zones of up to 50m wide was also identified with results up to 18% graphite.
