VANCOUVER, British Columbia, April 24, 2019 (GLOBE NEWSWIRE) -- via NetworkWire: QMC Quantum Minerals Corp., (QMC.V) (3LQ.F) (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.
The Irgon Lithium Mine Property hosts numerous spodumene-bearing pegmatite dikes in addition to the Irgon Dike. QMC has now received significant assay results from recent surface sampling of three of these large, secondary, spodumene-bearing pegmatite dikes located within the Irgon Mine Property. The Company is pleased to report the following results obtained from chip sampling across the Mapetre, the Central and the Irgon West Dikes. The Central and Mapetre Dikes exhibit historic trenches that were excavated across the dike, from which the following chip/grab samples were obtained.
|SAMPLE||ASSAY RESULTS||SAMPLE||SAMPLE LENGTH|
|LOCATION||Li2O (%)||Ta (ppm)||Rb (ppm)||Cs (ppm)||TYPE||(metres)|
|Mapetre Trench||2.47||274||447||147||Chip||1.5 (0 to 1.5)|
|Mapetre Trench||0.093||316||3003||163||Chip||1.22 (1.5 to 2.72)|
|Central Dike||1.42||22||1301||90.2||Chip||1.4 (0 to 1.4)|
|Central Dike||0.042||23.5||2128||168||Chip||1.8 (1.4 to 3.2)|
|Central Dike||0.533||27.3||2638||173||Chip||2.0 (3.2 to 5.2)|
|Central Dike||1.13||29.3||1782||127||Chip||2.9 (0 to 2.9)|
|Central Dike||2.34||19.8||2905||165||Chip||4.1 (2.9 to 7.0)|
|Irgon West Dike||2.79||442||584||31.6||Chip||7.0 (0 to 7.0)|
|Irgon West Dike||2.47||178||606||46.7||Chip||5.0 (7.0 to 12.0)|
|Irgon West Dike||2.51||78.4||157||14.1||Chip||5.0 (12.0 to 17.0)|
|Irgon West Dike||1.8||119||359||12.5||Grab||N/A|
|Irgon West Dike||2.52||58.1||674||14.5||Grab||N/A|
The Company is excited with these initial sampling results as they demonstrate a huge potential to develop additional tonnage within the Irgon Lithium Property (in addition to that tonnage currently being defined by SGS Canada that exists within the upper central portion of the Irgon Dike) as numerous pegmatite dikes on the property host significant spodumene mineralization. These dikes show significant potential as they have been sampled across widths of up to 17 metres. An exploration program consisting of overburden stripping and channel sampling of the mineralized dikes is being planned for the upcoming field season to fully define the width, strike length and lithium grade of these dikes.
All samples were analyzed at SGS Laboratory, Lakefield Ontario. QMC received analysis for 56 elements using a sodium peroxide fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES / ICP-MS) assay.
Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and subsequently reported a historical mineral estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 metres and to a depth of 213 metres (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical estimate 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 estimate 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 metres. On the 61-metre level, lateral development was extended off the shaft for a total of 366 metres 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 estimate 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.