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Lomiko Buys B.C. Sodium Carbonate-Rich Lithium Brine Lakes Ticker Symbol: C:LMR
| Lomiko Metals Inc (C:LMR)
Lomiko Metals Inc (C:LMR) Last Close 5/14/2010 $0.07 Monday May 17 2010 – News Release |
Mr. Paul Gill reports
LOMIKO ACQUIRES PAST-PRODUCING SODIUM CARBONATE-RICH BRINE LAKES IN BRITISH COLUMBIA
Lomiko Metals Inc. acquired a 100-per-cent interest in the Rose, Anita and Lela semi-evaporitic playa lakes located near 70 Mile House, B.C.
The lakes are located in the Green Timber Plateau area, a semi-arid plateau averaging 1130 metres elevation and are part of the Cariboo Plateau. The area is underlain by alkaline plateau basalt flows of the Miocene to Pleistocene Chilcotin Group, mantled by a thin cover of glacial till and glaciofluvial sediments.
An estimated 900 tonnes of sodium carbonate were removed from the Anita and Lela Lakes between 1918 and 1937.
Sodium carbonate is an essential element in the processing of lithium, sulfates, magnesium and other marketable products from salt brines. A source of sodium carbonate increases the potential viability of lithium projects in the Atacama region of South America, especially Bolivia and to a lesser extent Chile, where magnesium has been identified occurring with lithium in sufficient quantities to cause concern over the increasing costs of processing the brine.
Lomiko will pay $ 10,000 and issue 200,000 common shares, subject to TSX approval, to complete the transaction.
Mr. Garth Kirkham, P.Geo is the Qualified Person for the Vines Lake Project and has reviewed the technical data in this news release.
© 2010 Canjex Publishing Ltd.
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