VANCOUVER, British
Columbia , April 13,
2021 /CNW/ -- QMC Quantum Minerals Corp., (TSX.V:
QMC) (FSE: 3LQ) (OTC PINK: QMCQF) ("QMC" or "the
Company") is pleased to announce that it has received the 2021 work
permit for QMC's 100% owned Irgon Lithium Mine Project.
Balraj Mann, C.E.O. commented: "With
the recent announcement of U.S. President Joe Biden's proposal for $1.9-trillion in stimulus spending, of which
$174-billion is ear-marked for
investment in the electric vehicle (EV) market, QMC is situated to
be an important part of the EV supply chain. Not only will we
have lithium (extracted from the Irgon Lithium Mine Project) for
batteries, our Namew Lake District project can potentially supply
copper-nickel for the proposed network of 500,000 EV charging
stations across the United
States."
The proposed 2021 work program will include stripping of
overburden, prospecting, surface sampling, channel sampling and
obtaining a bulk sample. The work will focus on:
- extending known
mineralization along strike of all currently identified dikes on
the property
including the Irgon dike.
- the two parallel
structures identified in SGS's 2020 mobile metal ion ("MMI")
orientation
survey to the north and south of the Irgon Dike.
The survey generated strong MMI
geochemical responses indicating underlying
lithium-bearing pegmatite occurrences
parallel to the Irgon Dike.
- preparing areas within our
claims for additional MMI sampling surveys as recommended
by SGS.
The planned work program will begin shortly. Potential
strike extensions of the five significant spodumene and rare
metal-bearing (Li, Nb, Ta, (+/_Cs)), zoned, granitic pegmatite
dikes (Irgon, Irgon West, Mapetre, North and Central Dikes) that
have currently been identified on the property will be evaluated
and several additional and untested exploration targets, including
an historical lithium soil geochemical anomaly that strikes
generally east west and is approximately 1100m long and up to 350m wide (identified between the Central and
Mapetre Dikes) will be tested. Proposed geochemical surveys
will assist in defining strike extensions of existing targets and
will also potentially identify additional mineralization in known
lithium geochemically anomalous areas.
The Irgon Lithium Mine Project
Between 1953-1954, the
Lithium Corporation of Canada Limited drilled 25 holes into the
Irgon Dike and subsequently reported a historical lithium
mineral 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 mineral
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 lithium mineral
resource 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. Historic
metallurgical tests reported an 87% recovery from which a
concentrate averaging 5.9% Li2O was obtained.
The mineral resource 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.
During this historical 1950-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.
Namew Lake District Project
Situated in the renowned
Flin Flon and Snow Lake districts of Manitoba known for its world-class VMS
deposits, the company land package covers 55,000 acres. The
project is 11km east of Hudbay Minerals' (HBM-TSX) Namew Lake Mine
which has produced 2.57 million tons of nickel, copper, palladium,
and platinum. The Namew Lake Project is also in the vicinity
of the currently producing 777 and Lalor mines, in addition to
being proximal to the past-producing Reed
Lake Mine. In addition to being in close proximity to
these other deposits, the company's district sized Namew Lake
Project displays similar underlying geology to the aforementioned
mines. The company has recently identified 41 large, strong,
untested geophysical targets through a versatile time domain
electromagnetic (VTEM) system survey.
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
acquisition, exploration and development of resource properties.
Its objective is to acquire, locate and develop economic deposits
within the company's precious, base, rare metal resource properties
of merit. The Company's current 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.
