VANCOUVER, British Columbia, Jan. 25, 2018 (GLOBE NEWSWIRE) -- 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.
Another pegmatite dike, has been located approximately 50 metres north of the east end of the Irgon Dike. During the initial examination, localized spodumene mineralization was noted. The dike was channel sampled during the 2017 fall program. Eleven, approximately one metre long, channel samples (totalling 9.7m) were obtained across this dike. Assay results are pending.
Two pegmatite dikes comprise the dike as observed in outcrop. The dikes are subparallel to each other with only approximately 20 meters defined strike length currently exposed on surface. The apparent width of the dike ranges between 0.40 and 2.6 meters. The dikes are separated by a distance of approximately 4 to 9 meters and both appear to pinch out along strike. It is currently unclear if the dikes are the same dike or two separate dikes. The dikes are observed trending generally north-east to south-west; the dip of either dike has yet to be confirmed.
Requested assay analysis of all channel and grab samples currently delivered to, and received by SGS Labs in Lakefield, Ontario consisted of a sodium peroxide fusion and subsequent 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.
This, along with all other dikes known to exist on the property will be further evaluated during the 2018 field season.
Between 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 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 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
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