QMC Nearly Quadruples Its Lithium Property
January 11 2018 - 7:45AM
QMC Quantum Minerals Corp., (TSX.V:QMC)
(FRANKFURT:3LQ) (OTC PINK:QMCQF) (“
QMC” or "the
Company"). QMC is pleased to provide the following update on
exploration activities at its 100% owned Irgon Lithium Mine
Project, S.E. Manitoba.
NEW CLAIMS ACQUIREDThe company
has acquired, through staking, an additional 9 contiguous mineral
claims which increases the number of claims comprising the property
to 13 and the area extent of the Irgon Lithium Mine Property to
encompass 6,538 acres (2,647 hectares) from 1,729 acres (700
hectares) an increase of 378%.
REGIONAL EXPLORATIONNumerous
pegmatite dikes, in addition to the main Irgon Dike, are known to
exist on the Irgon Lithium Mine Property. Two major dikes,
located south of Cat Lake that have undergone exploration in the
past are the Mapetre Dike and the Central Dike. Both were
explored in the late 1970’s by the Tantalum Mining Corporation of
Canada (“TANCO”) which focused solely on their tantalum-bearing
potential. At the time, TANCO appears to have had no
interest in the lithium potential of these dikes.
The Central Dike is also reported (Cerny et al, 1981, pg. 97) to
host cesium-bearing biotite mineralization (to 0.57% Cs2O) along
the pegmatite contact with the host rock. The Mapetre and
Central Dikes will be evaluated by QMC during the upcoming field
season.
Three additional dikes on the property that have
been recently sampled by QMC as part of its regional re-sampling
program, targeting pegmatite dikes that reported lithium assay
results during the 2011 exploration program, has now been
completed. Twenty-five grab samples were obtained from these
dikes and all have been shipped to SGS Lakefield for
analysis. To date, assay results have not been received.
Requested assay analysis of all channel and grab
samples currently delivered to, and received by SGS Labs in
Lakefield, Ontario consists of sodium peroxide fusion, ICP-AES and
ICP MS scans for 56 elements including Li, Ta, Nb, Cs, Rb and Be;
all elements which may potentially be found within the Winnipeg
River area rare element-bearing pegmatites.
HISTORICAL RESOURCEBetween
1953-1954, the Lithium Corporation of Canada Limited drilled 25
holes into the Irgon Dike and subsequently reported a
historical resource estimate of 1.2 million tons
grading 1.51% Li20 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 B. B. Bannatyne for the Lithium Corporation of Canada
Ltd. (Manitoba Assessment Report No. 94932). This historical
estimate is believed to be based on reasonable assumptions and
neither the company nor the QP have any reason to contest the
document’s relevance and reliability. The ongoing detailed channel
sampling and a subsequent 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-metre 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 time 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 NI43-101 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. 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 web: www.qmcminerals.com
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