QMC Receives Work Permit for Irgon Lithium Mine Property
September 19 2017 - 8:00AM
QMC Quantum Minerals Corp., (TSX-V:QMC) (FSE:3LQ)
(OTC PINK:QMCQF)
(“QMC” or "the Company"), has
received the required work permit from the Government of Manitoba
for the Company’s Irgon Lithium Mine property. The Company has now
mobilized the work crew and equipment to the work site. The initial
work program is designed to strip the overburden off the dike
thereby exposing it completely along strike. Subsequently,
the company will initiate a program of channel sampling across the
dike, at intervals along the entire strike length of the dike to
extend the known mineralized zone and confirm previous grab
sampling, trenching and drilling results.
Between 1953-1954, the Lithium Corporation of
Canada Limited drilled 25 holes into the Irgon Dike and reported a
historical resource estimate of 1.2 million tons
grading 1.51% Li2O over a strike length of 365 meters and to a
depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955,
p.3). This historical resource is documented in a 1956 Assessment
Report by Bruce Ballantyne for the Lithium Corporation of Canada
Ltd. (Manitoba Assessment Report No. 94932). This historical
estimate is believed to be based on reasonable assumptions and the
company/QP has no reason to contest the document’s relevance and
reliability. A detailed drill program will be required to update
this historical resource to current NI 43-101 standards. Historic
metallurgical tests reported an 87% recovery from which a
concentrate averaging 5.9% Li2O was obtained. During this
historical 1950 era work program, a complete mining plant was
installed on site designed to process 500 tons of ore per day and
in addition, a three-compartment shaft was sunk to a depth of 74
meters. On the 61 meter level, lateral development was extended off
the shaft for a total of 366 meters of drifting from which six
crosscuts transected the dike. The work was suspended in 1957,
awaiting a more favourable market for lithium oxides and at this
point the mine buildings were removed.
The mineral reserve cited above is
presented as a historical estimate and uses historical terminology
which does not conform to current NI 43-101 standards. A qualified
person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves. Although
the historical estimates are believed to be based on reasonable
assumptions, they were calculated prior to the implementation of
National Instrument 43-101. These historical estimates do not meet
current standards as defined under sections 1.2 and 1.3 of NI
43-101; consequently, the issuer is not treating the historical
estimate as current mineral resources or mineral
reserves.
Qualified Person and NI 43-101
DisclosureThe technical content of this news release has
been reviewed and approved by Bruce E. Goad, P. Geo. who is a
qualified person as defined by National Instrument 43-101.
About the CompanyQMC is a
British Columbia based company engaged in the business of
acquisition, exploration and development of resource properties.
Its objective is to locate and develop economic precious, base,
rare metal and resource properties of merit. The Company’s
properties include the Irgon Lithium Mine project two VMS
properties, the Rocky Lake and Rocky-Namew known collectively as
the Namew Lake District Project, and the Carrot River Gold
Property. Currently, all of the company’s properties are located in
Manitoba.On behalf of the Board of Directors
of
QMC QUANTUM MINERALS CORP.
“Balraj Mann”Balraj MannPresident and Chief
Executive Officer
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this news release.
Tel: (604) 601-2018Email: info@qmcminerals.com
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