VANCOUVER, May 23, 2018 /CNW/ - QMC Quantum Minerals
Corp. (TSX.V: QMC) (FSE: 3LQ) (OTC PINK: QMCQF)
(QMC.V) ("QMC" or "the Company") is pleased to report
that it has engaged SGS Canada Inc. ("SGS") to provide technical
support and consulting services for the company's 2018 field
exploration and drilling program at the Irgon Lithium Mine
Property, located within the Winnipeg River Pegmatite Field, S.E.
Manitoba. SGS will provide an
experienced team of engineers and geoscientists with significant
technical expertise pertaining to lithium pegmatite exploration and
development, who will review existing documents and geological
modelling of the historical data and will provide guidance to QMC
on the upcoming 2018 field program and drilling campaign.
(Logo:
https://mma.prnewswire.com/media/695267/QMC_Quantum_Minerals_Corp_Logo.jpg
)
The data acquired through the 2018 exploration program
recommended by SGS will be used by SGS to compile a NI43-101
compliant technical report, which is expected to confirm and
potentially increase the non-NI43-101 compliant historical reported
resource of 1.2 million tons of 1.51% Li2O within the
Irgon Dike. In addition, the technical report will provide an
estimate on the size of the other spodumene-bearing pegmatite dikes
currently identified on the Irgon Lithium Mine Property, such as
the Mapetre and the Central pegmatite dikes.
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 has 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 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 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.
SOURCE QMC Quantum Minerals Corp.
