Lomiko Starts 2012 Exploration at The Vines Lake Project
Posted on July 20, 2012 at 11:43 AM EDT
(Vancouver) LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, Europe: ISIN: CA54163Q1028, WKN: A0Q9W7,) ("Lomiko" or "the Company) Exploration Manager Lesley Hunt reports that the Lomiko geological team has started the summer exploration program at Vines Lake.
This program is designed to target anomalous Zinc values in soil on the western side of Vines Lake discovered in the 2011 exploration program. The current target comprises soil samples which are concentrated in a 1.5 by 1.0 km zone. Zinc 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. Numerous barium and bismuth anomalies have also been outlined in the area, with results returning values up to 1,413 and 3.48 ppm, respectively.
Approximately 800 B-horizon soil samples will be taken to infill the known zinc in soil anomaly. The 2011 soil sample program was completed on 200m spaced N/S grid lines at 50m spaced sample stations. The 2012 soil sample program is being conducted to infill the known anomaly such that the sample grid spacing results in 100m spaced N/S grid lines at 25m spaced sample stations.
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 2012 Exploration program is being 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.
Due to the property's close proximity to formerly producing mines with a proven history in the Cassiar Mining Camp, it is the opinion of the company that potential exists on the 100% owned Vines Lake Property for discovering new high-grade gold vein systems. Also, there is a potential for other intrusion related mineralization in proximity to the Cassiar Batholith and its associated boundary contacts, over which Lomiko's Vines Lake property claims are located.
Cassiar Area Highlights:
oChina Minerals Mining Corporation has contracted out the exploration program currently underway at their Table Mountain and Taurus Gold properties by Equity Exploration. These properties are located adjacent to the Vines :Lake Property.
A fully permitted 270 tonne per day, gravity and flotation mill, power plant, assay laboratory and tailings impoundment facility is owned by China Minerals.
Approximately 316,000 ounces of gold have been produced at the adjacent Table Mountain Mine from 1979-2007 under various companies.
Current Resource Estimates for the Table Mountain Mine are 21,471 tonnes grading 18.02 g/t indicated and 65,757 tonnes grading 24.3 g/t inferred were reported at the adjacent property in the May, 2010 NI43-101 Technical Report on the Table Mountain Property by C. Pearson and F.J. Bakker.
Vines Lake Highlights:
oTwo significant anomalies have been identified by geophysical surveys. The claims cover formations of the Sylvester group, which are known to contain productive zones of precious and base metal mineralization in the area.
The Vines Lake Property is located approximately two kilometres southwest of the former Erickson gold mine.
Highway 37 N bisects the property north to south providing excellent access.
Mr. Garth Kirkham, P.Geo is the Qualified Person for the Vines Lake Project and has reviewed the technical data in this news release.
For more information, please contact A. Paul Gill at 604-729-5312 or Email: email@example.com. Website: www.lomiko.com.
On behalf of Lomiko Metals Inc,
Signed: "A. Paul Gill"
A. Paul Gill, President & CEO
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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