VANCOUVER, British Columbia,
May 9, 2018 /CNW/ --
QMC Quantum Minerals Corp., (TSX.v: QMC) (FSE: 3LQ) (OTC
PINK: QMCQF) ("QMC" or "the Company"). QMC is pleased
to disseminate the historical assay results reported (Manitoba AR
#94932) by the Lithium Corporation of Canada ("LCOC"). These historical assays
were obtained during LCOC's 1956 channel sampling of the Irgon Dike
where it is exposed underground in crosscuts on the 200-foot
level. 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.
The underground workings can be viewed in the 3-D model released
by QMC on March 28, 2018, which
demonstrates that, to date, exploration and underground development
has been only undertaken on the upper and central portions 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.
As reported in the LCOC Assessment Report, during the period of
1955-1956 underground development was established on the Irgon Dike
to confirm both the mineralization at depth and the currently
non-NI43-101 compliant ore reserves (1.2M tons @1.51% Li2O) calculated by
LCOC from the historic drilling. This drifting was accessed
via the vertical 3-compartment production shaft that was sunk to a
depth of 241 feet by the Lithium Corporation of Canada. Off
the 200-foot level of the shaft, 1,120 feet of drifting parallel to
the dike was excavated with seven crosscuts (361 feet) cutting back
through the Irgon Dike. During this development, the dike was
channel sampled across these seven crosscuts with Li2O
assays of the crosscut channel samples performed by the Department
of Mines, Ottawa. Results of this
sampling program are shown in Table 1 below. The underground
workings are currently inaccessible as they are flooded and the
shaft was capped by a cement slab in 1956. The LCOC's geologic map
of the underground workings and accompanying assay results are
posted on the QMC website (https://qmcminerals.com).
Table 1: Historic
Results of LCOC's 1956 Underground Channel Sampling of the Irgon
Dike on the 200 Foot Level Crosscuts.
CrossCut
ID
Li2O Grade (%)
Width
(Feet)
No. 2 West
1.24
4.0
No. 1
West
1.75
6.0
Center
1.32
6.9
No. 1
East 1.30
14.5
No. 2
East
1.80
12.3
No. 3
East 1.16
24.9
No. 4
East
2.30
7.3
These data from the 200-foot level of the Irgon Dike compare
favourably 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.
Contact:
Tel: (604) 601-2018
email: info@qmcminerals.com
web: www.qmcminerals.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/qmc-reports-historic-assays-to-2-3-li2o-over-7-3-feet-300645349.html
SOURCE QMC Quantum Minerals Corp.
