- QMC
recently initiated a diamond drilling project as part of its exploration
program
- Results
will be used to confirm and expand the Irgon Dike’s historic resource
estimate
- SGS
Canada to prepare an NI 43-101-compliant report
QMC Quantum Minerals Corp.’s (OTC: QMCQF) (TSX.V: QMC) (FSE:
3LQ) onsite geologists have reported visual confirmation of
considerable spodumene mineralization within the core samples obtained from the
first phase of drilling. The core is currently being logged and sampled. Once
the assay results have been received from sampling of the phase one core, the
company expects to greatly expand the historical published resource (1.2
million tons grading 1.51 percent Li2O) that was calculated decades ago by
Lithium Corporation of Canada, a previous owner of the southern Manitoba
lithium mining project.
With phase one of the drill program initiated and primarily
targeting the central section of the Irgon Dike, QMC has instructed its
consultant, SGS Canada, to produce, using all current and historical data, an
updated resource in compliance with current NI 43-101 standards.
At least eight of the phase one drill holes have been
designed to confirm the grades and widths as documented by the historic drill
results. This central area of the Irgon Dike is where the historic resource of
more than a million tons of lithium oxide was calculated. This historical
resource was calculated over a strike length of 365 meters (1,197.5 feet) and
to a depth of only 213 meters (698.8 feet), according to a news release issued
on February 27 (http://ibn.fm/GX6Kt).
The four remaining holes will explore the area west of the central portion of
the Irgon Dike in a section coined the ‘western extension’. Drill results from
these holes are expected to complement previous surface sampling and confirm
the continuity of the spodumene mineralization in this direction.
As QMC has done with previous sampling programs, the company
will ask for an assay analysis that reports on 56 elements. As drill holes are
completed, the cores are being removed daily to a secure, off-site location for
logging, cutting and sampling.
The Irgon Lithium Mine Project exploration efforts are
focused on the well mineralized Irgon Pegmatite Dike, which formerly hosted a
developed mine site. The project is located in southern Manitoba within a
well-known pegmatite region that hosts a significant number of
rare-element-bearing pegmatite dikes, including the nearby Cabot Corporation
Tantalum Mining Corporation of Canada (“TANCO”) rare-element pegmatite deposit.
Pegmatite is a late-stage, igneous rock that may contain significant rare-element
mineralization. This is the case with respect to the Irgon Dike; spodumene, a
lithium-bearing mineral which is regarded as being the preferred source of
lithium, has been identified in significant quantities.
Lithium remains an important lightweight metal that plays a
key role in the lithium-ion batteries that power the modern generation of
computerized electronics — from small, wearable devices to larger electric
vehicle batteries and still larger electrical grid temporary energy storage units.
Analysis by ResearchAndMarkets.com foresees a 16.2 percent CAGR propelling the
lithium-ion battery market alone to $92.2 billion in capitalization by 2024.
As SGS Canada works on bringing the Irgon Dike resource
estimate up to current NI 43-101 regulatory standards, QMC is preparing for the
upcoming summer field season, which will define additional diamond drill
exploration to test further targets known to exist on the property.
The company announced three months ago that industry
standard mobile metal ion (“MMI”) geochemical soil surveying techniques
employed by SGS Canada led to the identification of new, potentially
mineralized locations at the Irgon Property. MMI geochemical soil anomalies
defined by the SGS survey on the northern and southern sides of the Irgon Dike
could indicate buried, parallel, lithium-bearing pegmatite occurrences that
don’t have surface rock outcroppings or visible ground level spodumene
mineralization, according to the company (http://ibn.fm/f4oad).
QMC is also negotiating with SGS to evaluate a large
pegmatite sample derived from the Irgon Dike in order to determine the best
lithium recovery strategy.
For more information, visit the company’s website at www.QMCMinerals.com
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