QMC Quantum Minerals Receives Positive Results from the MMI Geochemical Orientation Survey over the Irgon Dike; Two Additional Targets Identified
TSX VENTURE: QMC
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2019) - QMC Quantum Minerals Corp. (TSXV: QMC) (FSE: 3LQ) (OTC Pink: QMCQF) ("QMC" or "the Company") is pleased to provide an update on the company's 100% owned Irgon Lithium Mine Project located within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of South East Manitoba which also hosts Cabot Corporation's nearby Tantalum Mining Corp. of Canada's ("TANCO") rare-element pegmatite.
The company received an extremely positive reporting of results from the recent Mobile Metal Ion ("MMI") geochemical orientation survey from SGS Canada. Based on the MMI results received after geo- referencing of the MMI ratio data, SGS was able to accurately identify the unexposed position of the western extension of the Irgon Pegmatite Dike.
In addition, two separate strong MMI anomalies were identified: one lying north of the Irgon Dike and the other lying south of the dike. At both locations, no surface rock outcropping nor spodumene mineralization is visible. SGS has indicated to QMC that these strong MMI geochemical responses are related to buried, parallel, lithium-bearing pegmatite occurrences.
QMC and SGS are extremely pleased with the initial results of MMI orientation survey and the identification of these new parallel lithium anomalies. QMC will initiate further MMI sampling across the inferred strike of these buried dikes prior to these new targets being drill tested. Both QMC and SGS believe that as these anomalies are further defined and subsequently drill tested, there is significant potential for the parallel dikes to greatly increase the resource estimate for the property.
The MMI orientation survey was undertaken over the buried, western extension of the spodumene-bearing Irgon Pegmatite Dike. Soil samples were taken along a north south trend line across the strike of the Irgon Dike. Sample spacing was set at an interval of 10 meters on top of the strike projection of the Irgon Dike and expanded to 20 meters at the line extremities for background purposes. Two sampling depths were tested. Both sample depths indicated a preferred response. This initial orientation survey consisted of a total of 40 samples.
Since this technique has responded extremely well to reflect the underlying mineralization that occurs within the Irgon Dike, QMC now plans to expand its use over other prospective target areas within the Irgon Mine Property.
Between 1953 and1954, 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% 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 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 Qualified Person has any reason to contest the document's relevance and reliability. The 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 1950sera work program, a complete mining plant was installed onsite, designed to process 500 tons of ore per day, and a three-compartment shaft was sunk to a depth of 74 meters. On the 61meter level, lateral development was extended off the shaft for a total of 366 meters of drifting, from which seven crosscuts transected the dike. The work was suspended in 1957 awaiting a more favourable market for lithium oxides: 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 Disclosure
The 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 Company
QMC 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 and 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.
President 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.
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