QMC Mobilizes Diamond Drill to Irgon Lithium Mine Project
19 2월 2019 - 11:20PM
via NetworkWire: QMC Quantum Minerals Corp., (TSX.V: QMC)
(FSE: 3LQ) (OTC PINK: QMCQF) (“
QMC” or
"the Company") is pleased to announce that it has now mobilized a
diamond drill and support crew to the company’s 100% owned Irgon
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 initiating a two-phase drill program
designed to confirm, and subsequently expand, the historic resource
published for the Irgon Property (1.2 million tons grading 1.51%
Li2O as previously calculated for Lithium Corporation of
Canada). The initial Phase One of the QMC program will
consist of 1500m of NQ drilling in 12 holes; the first 8 will
confirm the grades and widths of the 1953/54 drill results used to
calculate the initial, historic resource which used data obtained
in the 1950s derived by sampling both the initial drill core
and underground channel samples that were taken across the dike
from within the currently inaccessible, water-filled
workings. The remaining 4 proposed holes will chase the Irgon
Dike westward from the area hosting the original resource to test
the spodumene-bearing pegmatites identified as the Western
Extension of the Irgon Dike thus confirming the westward continuity
of the Irgon Dike.
With the results of the Phase One drilling in
hand, QMC has instructed SGS to produce an updated, NI 43-101
compliant, inferred resource for the central, previously developed
part of the Irgon Dike. Testing the westward extension of the
Irgon Dike is expected to add additional inferred tonnage available
on the property.
The NQ core will be secured in core boxes at the
drill site and transported at the end of each shift to a secure,
heated facility. Here it will be logged, sawn, sampled,
bagged and shipped to SGS Labs in Lakefield, Ontario for
analysis. The remaining core will be temporarily stored in
the Lac du Bonnet warehouse facility, to be subsequently moved to a
secure storage facility currently onsite at the Irgon Mine as the
weather improves.
As with the previous Irgon channel sampling program, QMC will be
requesting analysis for 56 elements using a sodium peroxide fusion
followed by Inductively coupled plasma atomic emission spectroscopy
(ICP-AES / ICP-MS).
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.
Corporate Communications: NetworkWire (NW) New
York, New York www.NetworkNewsWire.com 212.418.1217 Office
Editor@NetworkWire.com
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