VANCOUVER, B. C., Nov. 3, 2020 /CNW/ -- QMC Quantum
Minerals Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK:
QMCQF) ("QMC" or "the Company") begins developing a
proposed work program for its Namew Lake District volcanic massive
sulphide ("VMS") property in Manitoba.
Highlights
- World-class Flin
Flon-Snow Lake mining
region, host to 11 mines including Hudbay Minerals Inc.'s ("HBM")
new deposit, the Lalor Mine
- 41 strong geophysical targets identified, the largest one being
1.5km long
- District scale project with similar geology to the nearby
HudBay's Lalor (27.1Mt) and 777 (21.9Mt) mines
The Company will focus the upcoming exploration program on
testing the stronger of 41 geophysical targets currently identified
on the property. Twenty-two of these targets have been
classified by Garth Kirkham, P. Geo
(2013) as priority targets with potential to host deposit-scale VMS
mineralization. This NI43-101 report is available on
SEDAR. To date, positive results of limited drilling
collared on the property have suggested that existing geophysical
surveys are an excellent exploration indicator of subsurface
sulphide mineralization.
QMC has previously drilled one of these targets, on the
1,500m long conductor and intersected
mineralization at the top of the conductor. Two drill holes
(RL 12-5 and RL 11-2) intersected significant visible chalcopyrite
mineralization (Figure 1). Drill hole RL 12-5 cut a
10m thick, semi-massive sulphide
intersection grading 0.48% Cu (including 0.80% Cu over 1m). Drill hole RL 11-2 was terminated in massive
sulphide at a vertical depth of 193 metres. Assays returned grades
of 0.26% copper over a 0.3m wide,
semi-massive sulphide intersection which contained approximately
20% iron sulphides. Further, deeper drilling may develop a larger
zone of additional significant VMS mineralization. The
Company postulates that the top conductor intersected by drilling
may be the top of the first lens alternating between copper and
gold much like the Lalor Mine which has similar geology.
At the Lalor Mine, and typically all VMS deposits,
mineralization forms as concordant lenses of massive to
semi-massive sulphide mineralization. Over time these systems can
have several periods of sulphide accumulation forming several
localized lenses of mineralization. This accumulation of several
distinct base metal and gold rich lenses has been identified at the
Lalor Mine. Identification of these favourable horizons can
provide a significant pathfinder to additional mineralized zones
within the property and may also guide discovery of new zones of
mineralization regionally.
Characteristically, VMS deposits have a very predictable
positioning of the metals, both horizontally and vertically within
the deposit. Gold concentrations generally are elevated in
the central copper-rich zones. These are typically copper +/-
gold rich zones in or adjacent to hydrothermally altered zones that
develop within fractures. Generally iron sulphides (pyrite and
pyrrhotite) occur with the base metal sulphides.
Qualified Person
The technical content of this news release has been reviewed and
approved by Bruce E. Goad, P. Geo.,
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 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
604-601-2018
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SOURCE QMC Quantum Minerals Corp.