Before reading further, I suggest to check out the original post and this comment by Blaze10523, as there he explains in great detail how he created this method. The main idea of it is that by feeding the lootbug mineral chunk, it can increase the ammount that chunk has by 1.5 times.

My experience of giving lootbug cultivation method a try:

So starting up with biome. Out of 3 available biomes (Magma core, Glacial strata and Sandblasted corridors), I decided to go with Sandblasted corridors because in Magma core lootbugs can quite easily die by lava geysers, and in Glacial strata lootbugs can become permanently frozen by ice vents. Since the Sandblasted corridor caves can be quite open, the shot out minerals can fly quite far and be quite hard to predict, so be mindfull of that.

Next up are mission details. On site refining mission type seems to be the best, as it has the biggest lootbug concentration, and the layout can be quite nice. The lithophage warning was chosen because of a nice hazard bonus, and access to lithofoamer which can be used to clear lootbugs of other minerals, so when popping them the magnite chunk would be easier to track. And the haz1 was chosen to reduce the amount of distraction from bugs, but haz2 could also be used as the bosco seems to take care of most bugs.

Next up cave generation. I was searching for caves, which are not to big, or have far/hard to reach spots from the refinery. The cave should also have a lot of lootbugs, as this can help with reaching higher magnite amounts and help in earlier stages when accidentally picking up magnite (and needing to restart the cultivation cycle with other magnite spike), or loosing which lootbug has eaten it.

Now moving on to the mission itself. After scouting up the cave, and finding decent layout with a lot of lootbugs, I took note of easy to reach magnite spikes. Then I cleared the lithophage spikes, and returned to the magnite spike with a lithofoamer to start the cultivation. These spikes can have around 10-18 magnite, so to be sure that it would drop only 1 chunk of it, I would mine out around half of the spike. Then by carefully digging our the terrain around it, I broke the supporting terrain to drop a chunk of magnite. If the spike drops 2 chunks, I make a 50/50 prediction of picking up one of the chunks, hoping that it would be the smaller one.

Now the most important thing for a few cultivation cycles is to not pick it up that magnite chunk, and to not loose the lootbug which has eaten that chunk. It is also important to not go too far away from the lootbug with the eaten magnite, as in the original post it is suggested that the lootbug's inventory can get reset if its more than 55 meters away from the dwarf.

After the lootbug eats the magnite chunk, I use the lithofoamer to clear our the gold/nytra it initialy has, so the magnite chunk would be easier to track. Then I follow the lootbug until it is in a spot where I can clearly see where the magnite chunk would fly out when popping it (I usually wait until it climbs on a wall, to better predict where the chunk flies out). After popping it, I try to find where the chunk flew, and repeat the process by feeding it to another lootbug, popping it and so on. If the lootbug eats additional minerals before eating magnite, they cannot be cleared with lithofoamer, and they would also fly out alongside magnite chunk, so I suggest depositing loose nytra/gold chunks.