VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) -- via NetworkWire: QMC Quantum Minerals Corp. (TSX.V: 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 S.E. Manitoba, which also hosts Cabot Corporation’s nearby Tantalum Mining Corporation of Canada (“TANCO”) rare-element pegmatite.
QMC is currently entering discussions with SGS Canada to have them initiate preliminary metallurgical testing on a large lithium pegmatite sample to be obtained from the company’s Irgon Lithium Mine Project in southeastern Manitoba. This study will be designed to produce a saleable concentrate for which QMC envisions a three-stage process. Initially, the large sample will be prepared so that it is amenable to dense media separation (“DMS”). Subsequently, all magnetic minerals will be removed, and a lithium concentrate will then be produced using the DMS process. The final phase will be to upgrade the lithium concentrate through flotation technology to produce a saleable product.
Following the January 9, 2019 news release, QMC has now received the final report from SGS Canada which documents the results from the recent MMI (Mobile Metal Ion) geochemical orientation survey. 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.
SGS reports that Li (lithium) values correlate well with both Cs (cesium) and Rb (rubidium) values. SGS indicates that the Cs values for many of the samples are well above a “normal Cs value” in various rock types in North America which would be expected as elevated Cs values have been previously documented in the recent QMC channel sample results from the Irgon Dike and is also reported to occur in biotite selvages along the contact of the Irgon Dike. SGS reports that results may also be showing zonation of elements Li, Cs and Rb. Additional sampling is needed for confirmation.
Subsequently to accurately identifying the position of the western extension of the Irgon Dike through the recent MMI geochemical survey, two other separate and very pronounced MMI anomalies were also identified: one lying north of the Irgon Dike and the other lying south of the dike. The MMI signature received over each these two sites reports stronger than the MMI signature received directly over known, existing mineralization in the Irgon Dike. At both locations of the new MMI anomalies, no surface rock outcropping nor spodumene mineralization is visible. SGS has indicated to QMC that they believe that these strong MMI geochemical responses are related to buried, parallel, lithium-bearing pegmatite occurrence. Consequently, each site will be tested during the upcoming field season.
The MMI technique has now been tested on the Irgon Property and it 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 Lithium Mine Property.
HISTORICAL RESOURCE
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 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 1950s era 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 61-metre 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. During 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.
“Balraj Mann”
Balraj Mann
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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