QMC Update on Work Program at Irgon Lithium Mine
VANCOUVER, British Columbia, Nov. 01, 2017 (GLOBE NEWSWIRE) -- QMC Quantum Minerals Corp. (TSX.v:QMC) (FSE:3LQ) (OTC PINK:QMCQF) (“QMC” or "the Company"), is pleased to provide an update on the company’s ongoing exploration program on their Irgon Mine Lithium Project located at Cat Lake, Manitoba. With the required permits now in place, crew and heavy equipment have moved onsite and are currently removing the merchantable timber from above the dike. Crews have also begun to strip the overburden off the spodumene-bearing pegmatitic dike to expose the entire 400 metre strike length of the Irgon Dike. Overburden stripping and subsequent drill programs are also expected to extend the known strike length of this dike.
The overburden stripping will facilitate the ongoing channel sampling program as the onsite crew has begun to cut channel samples across the dike, initially at 100 metre intervals. However, if the current weather holds, this sampling across the exposed dike will be tightened to 50 metre and subsequently to 25 metre intervals over the entire dike once the surface of the dike has been exposed.
To date, four channels have been cut across the dike which have been sampled on 1 metre intervals. The resulting 53 samples are being sent to SGS labs in Lakefield, Ontario for combined ICP-AES and ICP MS analysis of 56 elements. Geologic mapping of the dike has also been initiated.
This ongoing sampling program at intervals across the dike, along the entire strike length of the dike is expected to confirm previous grab sampling, trenching and drilling results that are published in the historical record.
Between 1953-1954, the Lithium Corp. 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 (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by Bruce Ballantyne for the Lithium Corp. 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. 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 point the mine buildings were removed.
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, and the Carrot River Gold Property. 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
