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Quantum Minerals Corp (OTC: QMCQF) (TSXV:QMX)
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| CrossCut ID | Li2O Grade (%) | Width (Feet) |
| No. 2 West | 1.24 | 4 |
| No. 1 West | 1.75 | 6 |
| Center | 1.32 | 6.9 |
| No. 1 East | 1.3 | 14.5 |
| No. 2 East | 1.8 | 12.3 |
| No. 3 East | 1.16 | 24.9 |
| No. 4 East | 2.3 | 7.3 |
These data from the 200-foot level of the Irgon Dike compare favorably not only
to the 2017 QMC surface channel samples released in the company’s news release
of March 05, 2018 but also to assayed historical 1953-1954 drill intersections
from various levels within the dike (QMC News Release of April 16, 2018) and
documented in the LCOC’s assessment report (Manitoba AR #94932).
All historic data and recent surface geologic mapping are presented in the
3-dimensional model of the deposit which permits the viewer to easily visualize
the pegmatite, the underground workings and the 25 drill holes. This 3-D model
will be expanded as results from ongoing and future exploration programs on the
property are received by the company.
The 3-D model can be also viewed by following the link to the company’s website
(https://qmcminerals.com).
The upcoming drilling program is expected to confirm extensions to the strike
length of the Irgon Dike and test mineralization to depth below the current
level of historical drilling within the dike, both of which are expected to
rapidly increase the resource tonnage above the currently reported historical
tonnage of 1.2 million tons. Data received from the proposed drill program will
be used in preparation of a NI-43-101 report.
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 have 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 1950 era work program, a complete mining plant was
installed on site 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 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 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.
Source: QMC Quantum Minerals Corp.
QMC Reports Historic Li2O Assays From Drill Program on the Irgon Lithium Mine Property
Vancouver, British Columbia --April 16, 2018 -- Quantum Minerals Corp. (OTC:
QMCQF)
(TSX-V: QMC)
(FSE: 3LQ) (“QMC” or "the Company"). QMC is pleased to
disseminate the historical drilling results reported (Manitoba AR #94932) by the
Lithium Corporation of Canada (“LCOC”). These historical assays were obtained
during LCOC’s 1953/54 drilling program on the Irgon Dike. The Irgon Dike is
located at the company’s 100% owned Irgon Lithium Mine Project, within the
prolific Cat Lake-Winnipeg River Pegmatite Field of S.E. Manitoba, which also
hosts the nearby TANCO rare-element pegmatite.
LCOC collared 25 historic drill holes on the Irgon Dike. The drill hole
projections can be viewed in the 3-D model released by QMC on March 28, 2018,
which illustrates clearly that, to date, exploration and underground development
have been only undertaken on the upper and central portions of the dike, leaving
significant potential to quickly increase tonnage as the Irgon Dike is open both
along strike and to depth. The 2017 channel sample locations and surface
exposure of the dike are also indicated on the model.
These data from the historic drill intersections of the Irgon Dike compare
favourably to the 2017 QMC surface channel samples released in the company’s
news release of March 05, 2018. These results are documented in the LCOC’s
assessment report (Manitoba AR #94932) and these historical data are reproduced
below as Table 1.
Table 1: Historic Li2O Assay Results of LCOC’s Sampling of Pegmatite
Intersections Cut During Their 1953/54 Diamond Drill Program on the Irgon Dike.
DDH NO. Width
(m) True
Width
(m) Lithium Grade
(% Li2O) Notes DDH NO. Width
(m) True
Width
(m) Lithium Grade
(% Li2O) Notes
1A 17.3 12.2 1.01 6A 11.1 8.8 1.62
2A 12.1 10.1 1.84 Lost 0.6 feet of pegmatite core 7A 5.0 3.4 1.16
2B 12.0 9.1 1.37 8A 1.9 1.7 2.88
2C 6.4 5.0 1.33 8B 6.4 5.2 1.55
2D 2.5 2.1 2.00 8C 3.1 2.7 1.18
3A 12.7 11.6 1.54 Lost 0.7 feet of pegmatite core 8D 1.9 1.4 1.18
4A 10.9 9.5 2.21 Lost 0.4 feet of pegmatite core 9A 5.6 4.5 0.88 Lost 4.8 feet
of pegmatite core
5A 17.8 14.0 1.38 10A 5.2 4.3 1.46
5B 5.2 4.9 1.64 11A 6.2 4.9 1.29 Lost 0.8 feet of pegmatite core
5C 3.2 3.0 1.42 Visible spodumene over 1.4 feet not included in assay interval
11B 0.0 0.0 0.00 Missing core data
5D 7.0 5.5 1.85 11C 5.8 4.6 1.73
5E 0.0 0.0 0.00 Lost hole 11D 2.7 2.0 1.42
5F 7.0 6.4 1.31 12A 3.1 2.4 0.97
The 3-D model will be expanded as results from ongoing and future exploration
programs on the property are received by the Company. This 3-D model can be
viewed by following the link to the company’s website (https://qmcminerals.com).
The upcoming drilling program is expected to confirm extensions to the strike
length of the Irgon Dike and test mineralization to depth below the current
level of historical drilling within the dike; both of which are expected to
rapidly increase the resource tonnage above the currently reported historical
tonnage of 1.2 million tons. Data received from the proposed drill program will
be used in preparation of a NI-43-101 report.
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 have 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 1950-era work program, a complete mining plant was
installed onsite, designed to process 500 tons of ore per day; 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 the mine
buildings were removed and the shaft sealed in 1963.
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.
“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.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: QMC Quantum Minerals Corp.
Read Additional Special Reports for Quantum Minerals Corp (OTC: QMCQF) (TSXV:QMX)
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Soaring Demand for Lithium
Fuels Exploration and Production Race
New York, NY – April 2018 – NetworkNewsWire News
Coverage: A January report from Zion Market Research projects the
global lithium-ion battery market, worth around $31 billion in 2016 and
dominated by Asia-Pacific producers such as China, is on track to grow at a CAGR
of 13.7 percent through 2022, ballooning to over $67.6 billion (http://nnw.fm/9gEz3).
Australia, Chile, Argentina and China are responsible for the lion’s share of
global lithium production (around 93 percent) — about half of which is currently
consumed by battery production. Prices per ton for the two main types of lithium
(hydroxide and carbonate) have jumped from around $6,500 in 2015 to recent highs
of more than $20,000. UBS Securities also recently projected that lithium demand
will continue to stay high through 2024 (http://nnw.fm/GCfv9), citing primary
drivers such as the burgeoning EV (electric vehicle) market, which is projected
to grow at a whopping 28.3 percent through 2026 (http://nnw.fm/T80kH). All of
this is extremely bullish news for lithium producers, whether we are talking
relatively small up-and-comers such as British Columbia-based
QMC Quantum Minerals Corp. (TSX-V: QMC) (FSE: 3LQ) (OTC: QMCQF) and
Nemaska Lithium, Inc. (TSX: NMX) (OTC: NMKEF), or sector heavyweights such as
Chile’s Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Albemarle
Corporation (NYSE: ALB) and FMC Corporation (NYSE: FMC).
Cleaner Cars Require Much More Lithium
Bloomberg New Energy Finance analysis of the EV market shows production will
increase more than thirtyfold by 2030 and relays Deutsche Bank estimates that
there are enough lithium reserves in the ground to last us another 185 years
(http://nnw.fm/rm7qC). With developments on the horizon such as lithium-ion
batteries that could store a third more energy using a lithium metal electrode
instead of graphite, the race to develop lithium resources is officially on for
a world increasingly concerned about the cleanliness of the energy it consumes.
Recent flap from Morgan Stanley about a potential oversupply of lithium fails to
accurately account for both the insatiable demand and the rate of supply
throughput to end markets (http://nnw.fm/alG3C). SQM cited a 17 percent jump
last year in demand and estimated a 20 percent uptick this year in its annual
report. More importantly, not all lithium projects with a suitable grade are
necessarily economical, and an oversupply of mined product is not the same thing
as having an abundance of high-quality processed lithium that is ready to be
used in batteries. Producers that can systematically increase output are in a
prime position to make the most of this historic opportunity, especially as
increasingly cheap-to-produce batteries eat up more and more of the market,
eventually representing some 90 percent of all lithium consumption by the mid
2020s. That trend has put internal combustion engine vehicles on notice, with
estimates that by 2022 EVs will actually become cheaper than gas guzzlers
(http://nnw.fm/v8Ndw) and even outsell them by 2040 (http://nnw.fm/hfYA2).
Unprecedented Lithium Demand Drives Expansion
Underlying demand fundamentals are an important factor for
QMC Quantum Minerals Corp. (TSX-V: QMC) (FSE: 3LQ) (OTC: QMCQF) , which
recently expanded its 100 percent-owned Irgon Lithium Mine Project in Manitoba
by nearly fourfold to some 6,538 acres in the heart of this mining-friendly
province (http://nnw.fm/otSf2). Manitoba is currently well on its way to
becoming Canada’s most improved province and was ranked the second most
attractive global jurisdiction for mining investment in 2016 by Fraser Institute
(http://nnw.fm/qfQz4). The Irgon Lithium Mine Project site benefits from superb
access and the well-developed mining infrastructure that Manitoba has to offer.
Quantum Minerals subsequently followed up on its channel sampling program of
late last year (http://nnw.fm/yU7Gb) and the considerable acreage expansion at
Irgon with some impressive exploration finds. These finds included a number of
newly identified pegmatite dikes that kicked up some tantalizing trends via
initial field evaluation by onsite geological teams, including one trend running
approximately 410 feet along strike, with an exposed surface width ranging from
6.5 to 16.4 feet (http://nnw.fm/WHp6y; http://nnw.fm/M5H8w). Subsequent grab
sample assay results confirmed that the dikes, located south of the main Irgon
dike, do, indeed, bear considerable lithium mineralization, with one return
coming back at an impressive 2.6 percent Li2O (lithium oxide).
Quantum a Near-Term Producer with ‘Good Dirt’
Having been cleared by Manitoba’s Sustainable Development Office with a drill
permit in March, Quantum Minerals may be well-situated for its 2018 field
season. Plans are in the offing for a 6,561-foot drilling program designed to
validate the historic resource estimate from the 1950s, which showed 1.2 million
tons of Li2O at 1.51 percent over 1,198 feet to a depth of 700 feet. The 2018
field program will also test for extension(s) to the main dike below 700 feet.
Quantum Minerals will be bucking hard this year to update markets with a
thorough, NI 43-101-compliant resource estimate for the project, which
historically yielded an 87 percent recovery rate averaging 5.9 percent Li2O
concentrate during the historical 1950s-era work program. That same work program
also saw installation of a complete 500 tons per day mining plant and the
sinking of a 243-foot, three-compartment shaft, including 1,200 feet of lateral
extensions from which six crosscuts transected the main dike.
Full results of the late 2017 program that yielded 144 channel samples across
the width of the main dike comfortably exceed historic estimates. One interval
even showed 1.43 percent Li2O over 59 feet, including a sweet spot of 1.73
percent over 46 feet. Numerous grades from 3.05 to 4.31 percent Li2O over
3.28-foot intervals were also reported, and 41.1 percent of pegmatite assays
exhibited returned over 1 percent Li2O. There were also significant grades
identified of tantalum (310 ppm), niobium (275 ppm), rubidium (2,961 ppm),
cesium (567 ppm) and beryllium (325 ppm), further enhancing the Irgon project’s
overall economics.
Big Aces Up Quantum’s Sleeve
Previous lithogeochemical survey work at Irgon — looking for tantalum and tin
that was done on the dikes south of Cat Lake by Tantalum Mining Corporation of
Canada (“TANCO”) in the late 1970s — has given Quantum Minerals one particularly
choice data point to follow up on during the company’s 2018 field program. A
3,609-foot anomaly, which is 328 feet wide on the east end and nearly 1,150 feet
wide on the west end, was never assayed by TANCO for lithium due to a lack of
demand for the metal at that time, even though the exploration report indicated
it was a good idea to check it out (http://nnw.fm/Zu94n). This massive anomaly
could be a big win for QMC Quantum Minerals, adding considerable value to an
already impressive project, and the company looks eager to sink its teeth into
what may be a heavily mineralized region.
In addition to the extremely promising Irgon Lithium Mine Project, Quantum
Minerals has roughly 57,000 acres, known as the Namew Lake District property, up
in northwestern Manitoba’s world-class Flin Flon/Snow Lake VMS (volcanic massive
sulfide) district. A 43-101 report released in 2013 — after the company’s 2012
drilling program and VTEM (versatile time domain electromagnetic) survey, which
yielded 41 targets — recommended a work and exploration program to further
delineate the 100 percent-owned project’s properties as an economic mineral
resource. This project is proximal to Hudbay’s currently producing copper, zinc,
gold and silver bearing 777 Mine and is only 6.8 miles southwest of the Namew
Lake mine that previously produced 2.57 million tonnes of copper, nickel, gold,
silver, palladium and platinum. The Namew Lake District property has the
potential to host several distinct VMS bodies and represents a potential ace in
the hole for Quantum Minerals that investors should be aware of.
Proposed Tariffs Could Be a Boon for North American Producers
Recently proposed tariffs on lithium primary cells and batteries from China will
most likely not impact the EV supply chain (http://nnw.fm/gT5NM). However, this
turn of events will no doubt significantly boost the overall North American
lithium market, lighting a fire under companies throughout the industry.
Companies that either import or manufacture lithium-ion batteries, such as
Johnson Controls, Exide Technologies and A123Systems, will have to start
thinking about solutions closer to home. This is good news for North American
lithium producers, who already have trouble maintaining production rates that
keep up with skyrocketing demand.
And while Morgan Stanley recently cited massive Chilean production expansions as
potentially driving the price of lithium down 45 percent by 2021, the Trump
administration’s move toward protectionism could substantially change market
conditions, especially for companies such as Tesla, which uses 10,000 times more
lithium for one Model S than there is in the average smartphone battery and
which is currently in talks with Chile’s SQM to secure a steady supply of the
white metal. China alone has set massive goals for plug-in hybrids and EVs, with
quotas to this end coming online next year and plans to have such green vehicles
make up one-fifth of all the country’s auto sales by 2025.
Top Players Expanding Production Footprints
Nemaska Lithium, Inc. (TSX: NMX) (OTCQX: NMKEF) is a good example of a company
just north of the border with solid production capability on the table and plans
for increased production. A recent feasibility study for Nemaska’s
development-stage Whabouchi hard-rock lithium deposit in Quebec targets a 20
percent increase in capacity to 16,000 tonnes annually. The hybrid open-pit and
underground mine will have a 33-year mine life based on proven and probable
reserves of 24 million tonnes at 1.53 percent Li2O. Nemaska President and CEO
Guy Bourassa seemed extremely bullish during a January conference call, during
which he indicated the production expansion plans were a response to the
company’s understanding of both the underlying demand fundamentals and extensive
discussions with lithium-hungry customers around the globe (http://nnw.fm/b0e0V).
Sociedad Química y Minera de Chile S.A (NYSE: SQM), a fertilizer giant, a
veritable Chilean institution, and one of the world’s biggest producers of
lithium, recently announced a key agreement with the Chilean Economic
Development Agency (Corfo) (http://nnw.fm/UQth3). The agreement ends a yearslong
fight over SQM royalties and sets up the company, which is the lowest-cost
producer of lithium from Chile’s sprawling Salar de Atacama salt flat, to more
than double its lithium production by next year (http://nnw.fm/8Exb5). While SQM
has said it will gauge further production expansion based on prevailing market
conditions — likely due to the company’s share price drop after the Morgan
Stanley report — 100,000 tonnes is less than half of what the world consumed
annually two years ago. Furthermore, lithium demand is projected to grow
substantially well into the 2020s, and the company’s share price has rebounded
nicely since the Morgan Stanley selloff that impacted lithium producers earlier
this year, retracing to well above SQM’s 52-week median.
Albemarle Corporation (NYSE: ALB), a U.S.-based specialty chemicals company, is
the world’s other top producer of lithium, after the company’s acquisition of
Rockwood Holdings in 2014. The company amended its lithium production rights
agreement with Corfo last year to expand production in Chile to 80,000 metric
tons per year. Albemarle subsequently announced the development of a new
technology that will allow the company to increase that figure to 125,000 metric
tons per year without the need for additional brine pumping at the Salar de
Atacama, triggering a new demand to Corfo for an additional lithium quota
increase.
FMC Corporation (NYSE: FMC) is the third-largest lithium producer behind SQM and
ALB. The company announced earlier this year that it will expand production in
Argentina over the next few years to more than 40,000 metric tons via a $300
million investment — a deal that further illustrates the current land race
taking place among producers to lock in the best production sites around the
globe.
North and South America Are Development Hotspots
North American lithium production represents some of the lowest jurisdictional
risk to be found anywhere on earth and typically has well-developed
infrastructure and site access. Nevertheless, an increasingly insatiable global
demand for the so-called “white petroleum” has sent producers scrambling for
acreage in Chile, Argentina and Bolivia, where there is an abundance of salt
flat mineralization. Chile even recently announced plans to substantially revise
mining codes and make the country even more competitive as an investment target.
North or south, the story is the same: Smart producers can read the handwriting
on the wall as the trend is to shift away from hydrocarbons toward lithium and
other energy sources; these same producers are planting their flags on key
acreage and ramping up production volume.
For more information about Quantum Minerals, please visit
QMC Quantum Minerals Corp. (TSX-V: QMC) (FSE: 3LQ) (OTC: QMCQF)
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QMC COMPLETES 3D MODELING FOR THE IRGON LITHIUM MINE
Vancouver, British Columbia --March 28, 2018 -- Quantum Minerals Corp. (OTC:
QMCQF)
(TSX-V: QMC)
(FSE: 3LQ) (“QMC” or "the Company"). QMC is pleased to report that North Face
Software Ltd. has completed compilation of all historical data derived from past
drilling and underground work and imported these data into an interactive
3-dimensional Leapfrog™ model of the Irgon Dike. The Irgon Dike is located at
the company’s 100% owned Irgon Lithium Mine Project, within the prolific Cat
Lake-Winnipeg River Pegmatite Field of S.E. Manitoba that hosts the nearby TANCO
rare-element pegmatite.
The 3-D model clearly demonstrates that to date, exploration and underground
development has been only undertaken on the central portion of dike leaving
significant potential to quickly increase tonnage as the Irgon Dike is open both
along strike and to depth. The 2017 channel sample locations and surface
exposure of the dike are also indicated on the model. Sampling results of these
surface channel cuts were listed in the company’s news release of March 05,
2018.
The upcoming drilling program will confirm extensions to the strike length of
the Irgon Dike and test mineralization to depth below the current level of
historical drilling within the dike; both which will rapidly increase the
resource tonnage above the currently reported historical tonnage of 1.2 million
tons. Data received from the proposed drill program will be used in preparation
of a NI-43-101 report.
All historic data and recent surface geologic mapping are presented in the
interactive 3-dimensional model of the deposit which permits the viewer to
easily visualize the pegmatite, the underground workings, the 25 drill holes and
to view the historic assay results of the mineralized drill intersections. This
interactive model will be expanded as results from ongoing and future
exploration programs on the property are received by the company.
The interactive model can be viewed by following the link to the company’s
website ( https://qmcminerals.com ). A
perspective model of the Irgon Dike looking towards the southwest is shown
below.
The company had contracted the services of North Face Software Ltd. and Inukshuk
Geological Consulting to compile, analyze and interpret the historical drill
data for the Irgon Mine as logged in 1953/54 by the Lithium Corporation of
Canada Ltd. (Manitoba Assessment Report #94932).
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 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.
“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.
QMC Minerals Corp.
Tel: (604) 601-2018
email: info@qmcminerals.com
web: www.qmcminerals.com
Source: QMC Quantum Minerals Corp.
QMC Receives Drill Permit for the Irgon Lithium Mine Project
Vancouver, British Columbia --March 14, 2018 -- Quantum Minerals Corp. (OTC:
QMCQF)
(TSX-V: QMC)
(FSE: 3LQ) (“QMC” or "the Company"). QMC is pleased to report that it has
received a drill permit from the Sustainable Development Office (“SD”) of the
Manitoba Government for its proposed drill program on the Irgon Pegmatite Dike
at the company’s 100% owned Irgon Lithium Mine Project, S.E. Manitoba.
The Company is currently in the process of requesting and assessing bids from
drilling contractors prior to initiating a 2000 metre drill program designed to
confirm both the historic Li2O assays received from the 1953/54 drill program
and those obtained from historic sampling across the six crosscuts on the
200-foot level in the underground workings. These historic results are reported
in Manitoba Assessment Report #94932.
The Company also intends to drill test for extensions to the mineralized zone on
the Irgon Dike below the currently tested 213 metres (700 foot) depth. In
addition, it will evaluate potential lateral strike extensions both to the east
and to the west of the currently furthest known exposure of the outcropping
pegmatite dike.
Data received from this drill program in addition to the results of the recent
surface channel sampling program on the Irgon Dike (QMC News Release of March
05, 2018) will be compiled by QMC to update the non-NI43-101 compliant historic
resource of 1.2 million tons of 1.51% Li2O to current NI43-101 standards.
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 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.
“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.
QMC Minerals Corp.
Tel: (604) 601-2018
email: info@qmcminerals.com
web: www.qmcminerals.com
Source: QMC Quantum Minerals Corp.
QMC Assays Exceed Historical Results
Vancouver, British Columbia --March 05, 2018 -- Quantum Minerals Corp. (OTC:
QMCQF)
(TSX-V: QMC)
(FSE: 3LQ) (“QMC” or "the Company"). QMC is pleased to report that the company
has received very positive assay results from the recent channel sampling
program undertaken on the Irgon Dike at the company’s 100% owned Irgon Lithium
Mine Project, S.E. Manitoba.
HIGHLIGHTS:
144 channel samples (over 139.1m) were obtained from 11 sawn channel cuts across
the width of the Irgon Dike (Figure 1).
- The best channel sample interval returned 1.43% Li2O over 18.0m - including
1.73% Li2O over 14.0m.
- Lithium grades of up to 4.31%, 4.0% and 3.05% Li2O over one metre intervals
were reported in the assay results. 22.2% of the pegmatite assays returned a
grade greater than 1.5% Li2O. 41.1% of the pegmatite assays returned a grade
greater than 1.0% Li2O.54.4% of the pegmatite assays returned a grade greater
than 0.5% Li2O.
- Tantalum (Ta), Niobium (Nb), Rubidium(Rb), Cesium (Cs) and Beryllium (Be)
grades of up to 319, 275, 2961, 567 and 325 ppm respectively were encountered
over one-meter sample intervals.
- The interval exhibiting the highest tantalum assay was from Cut 3: it returned
225ppm Ta over 5.6m.
- The interval exhibiting the highest cesium assay was from Cut 8: it returned
376ppm Cs over 4.7m.
- The interval exhibiting the highest niobium assay was from Cut 3: it returned
166ppm Nb over 4.0m.
- All samples were analyzed by SGS Labs in Lakefield, Ontario using 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. Figure 1
below illustrates the outcrop trace of the Irgon Dike and the locations of the
sawn channel sample cuts.
Cuts 2, 5 and 8 (indicated by the * in the above table) were obtained at the
very eastern exposed extremity of the dike on surface. The dike here has begun
to finger into the host basaltic wall rock. At surface level, the width of the
dike is reduced as it appears to bifurcate; however, the pegmatite dike remains
host to significant spodumene (lithium) mineralization.
Cut 1, located approximately 71m west of Cut 8 (the easternmost sample site) was
taken across the widest exposed section of the dike, the best interval which
reported 14m at 1.73% Li2O.
Overall sampling on surface indicates the spodumene mineralization is uniform
both in abundance and crystal size. Spodumene mineralization is fairly
ubiquitous throughout the dike and its crystal length is generally around 3-5cm
which greatly reduces any inherent “nugget effect” that would occur with the
presence of much larger crystals that generally occur in pegmatites.
The company is also encouraged by the tantalum grades that have been received by
the surface sampling. Mineralization remains open in all directions.
Where rafts of host rock were encountered within the boundaries of the Irgon
Dike on the surface, the company separated the different lithologies but
included the mafic rafts as part of the calculated grade of the cut. These
basaltic rafts samples, although separated from the pegmatite samples, returned
anomalous values of Li2O to 0.77% and cesium to 567ppm.
QMC’s surface results confirm both the consistency and continuity of the
spodumene mineralization and the contained Li2O content within the dike at
surface. The current QMC results compare very favourably to the historic assays
reported by the 1956 Manitoba Assessment Report (AR94932) obtained from the
historical drilling and underground crosscut sampling.
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 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.
“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.
Tel: (604) 601-2018
email: info@qmcminerals.com
web: www.qmcminerals.com
A summary of complete Li2O results and Figure 1 accompanying the press release
are available at: http://resource.globenewswire.com/Resource/Download/18886289-5883-4163-9a18-3a42237fe320
Source: QMC Quantum Minerals Corp.
QMC Identifies Huge Lithium Anomaly
Vancouver, British Columbia --March 01, 2018 -- Quantum Minerals Corp. (OTC:
QMCQF)
(TSX-V: QMC)
(FSE: 3LQ) (“QMC” or "the Company"). Following a thorough assessment of all
historical data available in the public record for the Irgon Property, QMC is
pleased to provide the following information on its 100% owned Irgon Lithium
Mine Project, S.E. Manitoba.
In 1978, the Tantalum Mining Corporation of Canada (“TANCO”) evaluated the
pegmatite dikes in the Cat Lake Area for potential sources of tantalum to be
utilized as feed for the TANCO mill which is located approximately 20km south of
the Irgon Property. During this program TANCO undertook a lithium
lithogeochemical survey over the area south of Cat Lake, between the Mapetre and
the Central Pegmatite Dikes. The stated purpose of this study was to delineate
potentially buried, or new tantalum-bearing pegmatite occurrences on the
property. A large, apparently relatively untested lithium anomaly was identified
in the TANCO assessment report (Manitoba AR92681). Figure 5 of this report
indicates that this lithium anomaly strikes generally east west and is
approximately 1100m long. The width of the irregular shaped anomaly is
approximately 100m at the east end, widening to approximately 350 metres at the
west end. The TANCO assessment report indicates that the “breath and length of
this feature is such that it cannot be accounted for by the known pegmatites in
the area”. It appears that although recommended to do so, this lithium anomaly
was never fully tested by TANCO; at that time TANCO had no interest in producing
lithium. TANCO did drill into the anomaly along the very western edge in the
area of the Central Dike (20 short DDH) and at the eastern end of the anomaly
into the Mapetre Dike (2 short
DDH) to test both these dikes for tantalum mineralization; however, the central
800 metre portion of this large lithium anomaly between the Central Dike and the
Mapetre Dike, appears to have remained untested. During the 1978 exploration
program, all pegmatite core recovered from this TANCO drilling collared both
along the western portion of this anomaly in the area of the Central Pegmatite
and along the eastern edge of the anomaly at the Mapetre Dike was assayed for
only tantalum (Ta) and tin (Sn); NO lithium assays were requested even with
spodumene mineralization noted in the drill logs.
QMC will evaluate this entire area during 2018.
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 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.
“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.
Suite 600 - 666 Burrard Street, Vancouver, British Columbia V6C 2X3
Tel: (604) 601-2018 I email: info@qmcminerals.com I web: www.qmcminerals.com
Source: QMC Quantum Minerals Corp.
-------------------------------------------------------------------
About Quantum Minerals Corp:
Quantum Minerals Corp. is a junior mineral exploration company focused on the
acquisition, exploration and development of mineral properties. QMC holds
interests in certain mineral properties across Canada, with its Namew Lake
Volocanogenic Massise Sulphide (VMS) style prospects, comprising of the Rocky
Lake and Namew-Rockey projects, in Manitoba, Canada. The Carrot River
gold-silver project also in Manitoba. QMC recently added the Cat Lake lithium
project in Manitoba, which features a non-43-101 compliant historical resource
of 1-million tonnes of 1.5% Li²O discovered by the Lithium Corporation of Canada
in 1957.
QMC management’s extensive experience in the field of mineral exploration and
development give it a competitive advantage in discovering, appraising and
advancing mineral deposits. QMC also draws on the tremendous experience of its
management in the realm of corporate finance and public markets which will prove
invaluable in acquisition, financing, and creating overall shareholder value.
AN EXCITING NEW LITHIUM PROSPECT IN MANITOBA
WHY LITHIUM?
- POWERING THE FUTURE
The electric car revolution is still in its infancy - many more affordable,
electric vehicles are planned for release in the next few years
Elon Musk estimates that by 2018, Tesla alone may consume every ton of lithium
produced worldwide
- THE LITHIUM MARKET
A SURGE IN DEMAND
Since early 2015, lithium prices have more than tripled — shooting from $7,000 a
metric ton to upwards of $22,000
Goldman Sachs conservatively expects demand for lithium to triple by 2025
- IRGON LITHIUM MINE
1,203,500 TONS OF LITHIUM OXIDE
Historic rare-metal (Li-Cs-Nb-Ta) deposit within the Irgon pegmatite located
immediately north of Cat Lake, Manitoba
Substantial developmental work carried out by former owner – Lithium Corporation
of Canada
PROJECTS
- IRGON LITHIUM MINE PROJECT
The Irgon Lithium Mine Project contains a Rare-metal (Li-Ta-Cs) deposit within
the Irgon pegmatite located immediately north of Cat Lake Manitoba. Substantial
developmental work carried out by the former owner of the property – The Lithium
Corporation of Canada Limited. The Deposit contains an estimated resource of
more than 1.2M tonnes of spodumene-bearing pegmatite grading 1.5% Li2 O
The Irgon Lithium Mine property hosts several rare-element granitic pegmatite
occurrences, one of which hosts and is locally known as the former Irgon Mine.
The Irgon occurrence and several other known pegmatite dikes are situated on 4
adjoining mineral claims which comprise the Irgon Lithium Mine property. The
total area covered by the 13 claims is 2,647 hectares. Access to the property is
excellent as Provincial Highway 314 in southeast Manitoba transects the claims,
approximately 150km northeast of Winnipeg.
The property lies within the east-trending Mayville-Cat-Eculid Greenstone Belt
(“MCEGB”) located along the northern contact of the Maskwa Lake Batholith. This
northern greenstone belt has a similar structural geological setting as the Bird
River Greenstone Belt (“BRGB”) which is located along the southern contact of
the same batholith, and is parallel to and approximately18km to the south of the
MCEGB. The property is located 20km north of the Tanco Mine Property. The BRGB
hosts
the world-class Tanco rare element-bearing pegmatite dike. The Tanco Mine went
into production in 1969 and produced tantalum, cesium and lithium concentrate.
It was previously North America’s largest and sole producer of spodumene (Li),
tantalite (Ta) and pollucite (Cs).
The property covers the former Irgon Mine and several known pegmatite dikes of
which currently the largest and best exposed is the spodumene-bearing Irgon
Dike. This dike is well exposed on a glaciated surface and strikes N80°W with a
dip of 87°S. It currently has a total exposed strike length of 442 meters and
displays widths varying between 3 to 18 meters, with an average width of
approximately 7 meters. Near the centre of its widest section, the dike is
composed of large microcline crystals, from 39 to 61 centimeters along their
crystal faces, which lie in a finer-grained groundmass of quartz and spodumene.
The eastern portion of the deposit was sampled over a length of about 229 meters
(circa 1934) with samples sent for analyses at the Department of Mines, Ottawa.
The results, although considered by QMC to be historic, indicated contents of
40-53% spodumene for samples, and 7.44% Li20 contained within the spodumene
mineralization.
Between 1953-1954 the Lithium Corporation of Canada Limited drilled 25 holes
into the Irgon Dike and 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. This historical resource is documented in a 1956 Assessment Report by
Bruce Ballantyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment
Report No. 94932). This historical estimate is believed to be based on
reasonable assumptions and the company/QP has no reason to contest the
document’s relevance and reliability. A detailed 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. A complete mining plant was installed on site designed
to process 500 tons of ore per day and in addition, a three compartment shaft
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 point the mine buildings were
removed.
QMC’s immediate objectives will be to complete a drilling program to update the
historical resource to NI43-101 standards, with the goal to ultimately determine
the economics of possible near term lithium production from the Irgon pegmatite
dike.
- NAMEW LAKE DISTRICT
- 100% owned, ~23,000 hectares (~57,000 acres) in one of the most productive
mining regions: between the Flin Flon/Snow Lake VMS mining district of Manitoba,
Canada
- Excellent year-round access and mining infrastructure in place: 14 kilometres
west of Highway 10, 15 kilometres west of the Hudson Bay Railway, and 5
kilometres south of the Namew Lake Road
- 43-101 Technical Report released May 2013 with recommendation of a work and
exploration program to define the Rocky Lake and Namew Lake properties as an
economic mineral resource
- Massive sulphide mineralization with visible chalcopyrite confirmed on the
main Rocky Lake target
- Massive sulphide mineralization confirmed on three VTEM targets from the
drilling program completed April 2012
- VTEM survey performed, identifying 41 targets
- Proximity to the currently producing 777 mine in the Flin Flon - Mining
District with a production rate of 1.49 million tonnes per year of copper, zinc,
gold and silver
- Potential host to several VMS bodies
Namew Lake District Property Description
The Namew Lake District property encompasses the Rocky Lake Discovery in the
world class, Flin Flon/Snow Lake VMS mining district in North Western Manitoba.
The property is 100% owned by QMC, covering approximately 23,000 hectares,
approximately 50 kilometres northwest of the town of The Pas and 65 kilometres
south of the mining centre and former smelter at Flin Flon off of Highway 10.
The Namew Lake property is also located 11 kilometres southwest of the Namew
Lake mine that had produced 2.57 million tonnes of copper, nickel, gold, silver,
palladium, and platinum.
WHY INVEST IN QMC?
QMC Quantum Minerals Corp. is focused on creating shareholder value through the
strategic acquisition and development of high quality Li-Ag-Au-Ni-Cu-Zn
prospects in Manitoba, Canada, one of the most productive mining regions with a
centralized and well-developed mining infrastructure and most mining friendly
places in the world.
QMC’s high-potential prospects in the world class Flin Flon VMS district, the
Cat Lake Lithium property (the former Irgon Mine) and an experienced management
team in both exploration geology and corporate finance put QMC in an excellent
position to take advantage of rising prices in Lithium, precious and base
metals.
QMC aims to execute comprehensive work programs on its Cat Lake (the former
Irgon Mine), Rocky Lake, Namew Lake, and Carrot River Projects to identify
economic mineral deposits for development and near term production.
SOURCE: http://qmcminerals.com/
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