Lomiko Drills Big Nak Copper Targets
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 3, 2008) – Lomiko Resources Inc. (“Lomiko” or the “Company”) (TSX VENTURE:LMR) announced today that project operator, Copper Ridge Explorations Inc. (“Copper Ridge”), has arranged for the mobilization of a drill to test copper targets identified on the Big Nak property. The exploration program included geochemical soil sampling and an IP survey over an area of the property known as the Box Lake showing. The Box Lake showing lies some 2 km to the east-southeast of the original Joss’alun discovery.
The Big Nak property consists of the adjoining claim groups of Joss’alun and NAK, which collectively cover a total area of about 3,232 ha situated in the Atlin mining division of northern British Columbia some 80 km south, south-east of the town of Atlin. Claim staking and subsequent exploration programs by Copper Ridge and Imperial Metals Corp (“Imperial”) led to four copper showings being discovered. Lomiko has entered into option agreements with Imperial and Copper Ridge, which hold the NAK and Joss’alun claim blocks, respectively.
The geological setting at Big Nak and the observed mineralization suggests a classic environment for seafloor volcanic massive sulphide (VMS) copper mineralization with accompanying footwall stringer mineralization and alteration. Copper mineralization on the Big Nak Property is relatively widespread with four main showings. To date, a continuous massive sulphide body has not been discovered but the exploration potential is considered to be high.
During July of 2003 a program of geochemical soil sampling and prospecting was carried out by Imperial followed by field mapping, prospecting and a core drilling program (9 NQ core holes for a total of 1,517 m) in August and September 2003. The following is a summary of significant drill results from drilling at the Joss’alun showing which encountered semi-massive and stockwork sulphide mineralization.
Drill Hole #________________Metre Interval______________ Length______ Cu% ———–________________ ————–______________ —— ______—- NAK-03-03__________________ 41.50______- ______109.56______68.06______0.21 including__________________41.50______-______ 48.40______ 6.90______0.30 And________________________60.48______- ______109.56______49.08______0.24 And______________________ 100.10______-______109.56______ 9.46______0.87 NAK-03-04__________________ 43.79______- ______100.82______57.03______0.10 including__________________65.00______-______ 93.15______28.15______0.12 And______________________ 196.83______-______202.84______ 6.01______0.44 NAK-03-05__________________ 19.13______-______ 36.88______17.75______0.94 including__________________26.70______-______ 33.62______ 6.92______1.15 NAK-03-06__________________ 14.46______-______ 56.55______42.09______0.20 including__________________23.73______-______ 39.10______15.37______0.32 And________________________42.10______-______ 56.55______14.45______0.20 NAK-03-07__________________143.38______- ______196.83______53.45______0.34 including________________ 143.38______-______151.36______ 7.98______0.36 And______________________ 163.21______- ______196.83______33.62______0.41 NAK-03-09__________________ 20.45______-______ 23.60______ 3.15______1.06
The exploration program has now produced two new drill targets to date at Box Lake, in addition to two other drill targets previously defined at the Joss’alun showing by an IP survey in 2004 adjacent to the area of the 9 holes drilled by Imperial in 2003. The correlation between the two IP surveys, surface showings and drill results on the Joss’alun showing provide an excellent tool for picking new drill targets.
Aeroquest International Advanced Airborne Geophysics has also completed an electromagnetic and magnetic airborne survey which covered both the previously drilled Joss’alun showing and Box Lake showing and a significant portion of the current Big Nak land package.
The recent survey has confirmed the previously drilled Joss’alun surface showing and the Box Lake showings are located in the same stratigraphy and that target geological horizon extends beyond the limits of the survey to the west-northwest and east-southeast.
Mr. Gerry Carlson, P.Geo, CEO of Copper Ridge has reviewed the technical content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF LOMIKO RESOURCES INC.
KEN MORGAN, President & Chief Executive Officer
We seek Safe Harbour. This press release has been prepared by management.
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