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QMC Quantum Minerals Corp. Reviewing Assessment Work on Irgon Mine Lithium Project

VANCOUVER, British Columbia, Sept. 07, 2017 (GLOBE NEWSWIRE) -- QMC Quantum Minerals Corp., (TSX-V:QMC) (FSE:3LQ) (OTC PINK:QMCQF) (“QMC” or "the Company"), is currently reviewing the results of the 2011 assessment work program conducted on the Irgon Mine property as reported by D. Fogwill, P. Geo. on behalf of 101162742 Saskatchewan Ltd.  During this program, representative rock grab samples were obtained from along the Irgon Dike and from other potentially rare element-bearing granitic pegmatites identified within the Irgon Mine property.  A reported distance of 17.5 line-kilometres was prospected within the property.  Limited hand trenching, overburden stripping and sampling were also undertaken outward from the Irgon Mine shaft.  A total of 88 grab samples was taken and assayed for lithium and other rare elements. 

Information derived from this program will be utilized to assist planning of the upcoming 2017 work program.  The Company expects geological crews to begin work mid-September.

Between 1953-1954, the Lithium Corporation 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 Corporation 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.

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 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.

/EIN News/ --

Tel: (604) 601-2018
Email: info@qmcminerals.com

Distribution channels: Mining