Monday, June 06, 2011

Mining and Gold Stocks News; LOMIKO (TSX-V: LMR; OTC: LMRMF) ESTABLISHES EXPLORATION CAMP AT VINES LAKE GOLD PROJECT

Vancouver - June 6, 2011 (Investorideas.com mining stocks newswire) – LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, Europe: ISIN: CA54163Q1028, WKN: A0Q9W7,) ("Lomiko" or "the Company) Exploration Manager Lesley Hunt has reports that Lomiko has established an exploration camp to coordinate activities related to the summer exploration program at Vines Lake. Lomiko holds the rights to three contiguous mineral tenures, totaling 1,169 Ha (2,888 Acres) located in the southwestern corner of the Cassiar Gold District or ‘Cassiar Gold Camp'. Exploration activities are to commence in June, 2011 and continue until September, 2011.
This program is designed to target both potentially high-grade gold vein systems, as seen at the adjacent Table Mountain Mine, in addition to the prospect of intrusion related mineralization. Phase I of the program is targeted to begin as soon as weather and snow conditions permit. Phase II will explore follow-up targets resulting from the geological mapping, geochemical and ground geophysical surveys resulting from Phase I.
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:
  • A new company with Chinese investors known as China Minerals Mining Corporation is located adjacent to the 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:
  • Two significant anomalies have been identified by geophysical surveys.The claims cover formations of the Sylvester group, which are known to contain productive zones of gold 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 a Director of Lomiko Metals Inc. in addition to being the Qualified Person for the Vines Lake Project and has reviewed the technical data in this news release.
For more information, please contact Paul Gill at 604­729­5312 Email: lomiko@dccnet.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.
Disclaimer/ Disclosure: The following news is paid for and /or published as information only for our readers. Lomiko Metals Inc. (TSX-V: LMR) three month showcase gold stock on Investorideas.com and all related mining portals and blogs (one thousand per month)
Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of principal .This site is currently compensated by featured companies, news submissions and online advertising.
Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.asp
Investorideas.com Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp
Post a Comment