VANCOUVER, B.C., May 4, 2021 /CNW/ -- QMC Quantum Minerals
Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK:
QMCQF) ("QMC" or "the Company) will be
incorporating the results of a litho-geochemical soil survey in the
upcoming NI 43-101 report, being prepared by SGS Canada.
Highlights
- Strong lithium soil geochemical anomaly 1,100m long by 100m
on the east widening to 350m at the
west.
- Potential for additional tonnage.
- Several areas reported over 1,000 ppm Li.
- Chip samples in the area are 2.47% Li2O at
Mapetre and 4.16% Li2O at Central.
- Magnitude of lithium anomaly cannot be accounted for by the
known pegmatites in the area.
- Lithium market moving into deficit with material shortages
emerging.
Balraj Mann, CEO, commented,
"Macquarie Group recently stated the lithium market is moving to a
deficit in 2022 with material shortages emerging in 2025.
Lithium hydroxide prices are expected to top $16,000 per tonne. Moreover, as the amount
of cobalt in batteries is reduced, the lithium component within
must be increased."
The historic assessment report (Manitoba Mines Branch: #92681)
documents a litho-geochemical soil survey that was conducted by
TANCO for the purpose of delineating buried, undiscovered
tantalum-bearing pegmatite structures that may occur south of
Cat Lake between the known Central
Pegmatite on the west and the Mapetre Pegmatite to the east. Two
survey grids were laid out. The larger grid (Grid "A" below),
established on a 150 x 500-foot grid pattern, confirmed that a very
intense, widespread lithium geochemical soil anomaly is situated
between the Central and Mapetre Dikes covering an east/west
distance of approximately 1100 metres with a width of 100 metres at
the east end, widening to approximately 350 metres at the west
end. TANCO reports lithium results within this anomaly to be
up to 630 ppm Li.
The second grid (Grid "B") established a tighter, 150 x 150-foot
grid pattern over the western portion of the Grid "A"
anomaly. The purpose of Grid "B" was to again identify
additional pegmatite mineralization in extensions of, or parallel
structures to the Central Dike. Results of the lithium soil
geochemistry were highly anomalous as several areas reported over
1,000 ppm lithium concentrations with a widespread lithium anomaly
showing > 300ppm Li and remaining open ended to the east.
The location of both these grids and the data TANCO produced are
reproduced in the figure below.
In the assessment report, TANCO geologists state that the
"breath and length of this lithium anomaly is such that it
cannot be accounted for by the known pegmatites in the
area." TANCO geologists strongly recommended that the
company explore both these target areas with additional drill
programs; however, at the time, tantalum was TANCO's metal of
choice and the company had no interest in producing lithium.
The assessment report was prepared by D.L. Trueman, P. Eng. for the
Tantalum Mining Corporation of Canada Limited ("TANCO") and was
dated 1979.
QMC's exploration work programs have confirmed the presence of
significant mineralization within the Mapetre and Central pegmatite
dikes. QMC crews identified large crystals of spodumene
mineralization on the Mapetre where a 1.5-metre-long chip sample
assayed 2.47% Li2O. Chip samples from the Central
assay returns were from 1.42% to 4.16% Li2O. QMC
also had TANCO drill core assayed for lithium. The best
Mapetre Dike intersection was 0.32% Li2O over 16.61
metres, including 0.52% Li2O over 8.69 metres. The
best intersection from the Central Dike was 1.28% over 3.81 metres,
including 2.97% Li2O over 1.22 metres. Two
additional sample intervals from drill holes on the Central Dike
re-assayed 1.50% Li2O over 1.52 metres and 1.04%
Li2O over 1.52 metres.
The Company has entered into a month-to-month marketing and
consulting contract with Toronto-based marketing firm, North Equities
Corp. North Equities specializes in various social media
platforms and will be able to facilitate greater awareness and
widespread dissemination of the Company's news. The Company
will pay North Equities $3,500 per
month. North Equities currently owns 200,000 shares of the Company
along with 200,000 warrants exercisable at $0.16 per share.
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.
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.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
Balraj Mann
President and Chief Executive Officer
+1 604-601-2018
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SOURCE QMC Quantum Minerals Corp.
