Mr. Balraj Mann reports
QMC REPORTS HISTORIC LI2O ASSAYS FROM DRILL PROGRAM ON THE IRGON LITHIUM MINE PROPERTY
QMC Quantum Minerals Corp. has disseminated the historical drilling results reported (Manitoba assessment report No. 94932) by the Lithium Corporation of Canada (LCOC). These historical assays were obtained during LCOC's 1953/1954 drilling program on the Irgon dike. The Irgon dike is located at the company's 100-per-cent-owned Irgon lithium mine project, within the prolific Cat Lake-Winnipeg River pegmatite field of southeastern Manitoba, which also hosts the nearby TANCO rare element pegmatite.
LCOC collared 25 historic drill holes on the Irgon dike. The drill hole projections can be viewed in the 3-D model released by QMC on March 28, 2018, which illustrates clearly that, to date, exploration and underground development have been only undertaken on the upper and central portions of the dike, leaving significant potential to quickly increase tonnage as the Irgon dike is open both along strike and to depth. The 2017 channel sample locations and surface exposure of the dike are also indicated on the model.
These data from the historic drill intersections of the Irgon dike compare favourably with the 2017 QMC surface channel samples released in the company's news release of March 5, 2018. These results are documented in the LCOC's assessment report (Manitoba assessment reports No. 94932) and these historical data are reproduced as follows.
HISTORIC LI2O ASSAY RESULTS OF LCOC'S SAMPLING OF PEGMATITE INTERSECTIONS CUT
DURING ITS 1953/54 DIAMOND DRILL PROGRAM ON THE IRGON DIKE
DDH Width True Lithium Notes DDH Width True Lithium Notes
No. (m) width(m) grade No. (m) Width(m) grade
(% Li2O) (% Li2O)
1A 17.3 12.2 1.01 6A 11.1 8.8 1.62
2A 12.1 10.1 1.84 Lost 0.6 feet of 7A 5 3.4 1.16
pegmatite core
2B 12 9.1 1.37 8A 1.9 1.7 2.88
2C 6.4 5 1.33 8B 6.4 5.2 1.5
2D 2.5 2.1 2 8C 3.1 2.7 1.18
3A 12.7 11.6 1.54 Lost 0.7 feet of 8D 1.9 1.4 1.18
pegmatite core
4A 10.9 9.5 2.21 Lost 0.4 feet of 9A 5.6 4.5 0.88 Lost 4.8 feet of
pegmatite core pegmatite core
5A 17.8 14 1.38 10A 5.2 4.3 1.46
5B 5.2 4.9 1.64 11A 6.2 4.9 1.29 Lost 0.8 feet of
pegmatite core
5C 3.2 3 1.42 Visible spodumene over
1.4 feet not included 11B 0 0 0 Missing core data
in assay interval
5D 7 5.5 1.85 11C 5.8 4.6 1.73
5E 0 0 0 Lost hole 11D 2.7 2 1.42
5F 7 6.4 1.31 12A 3.1 2.4 0.97
The 3-D model will be expanded as results from continuing and future exploration programs on the property are received by the company. This 3-D model can be viewed at the company's website.
The upcoming drilling program is expected to confirm extensions to the strike length of the Irgon dike and test mineralization to depth below the current level of historical drilling within the dike; both of which are expected to rapidly increase the resource tonnage above the currently reported historical tonnage of 1.2 million tonnes. Data received from the proposed drill program will be used in preparation of a National Instrument 43-101 report.
Historical resource
Between 1953-1954, the Lithium Corporation of Canada drilled 25 holes into the Irgon dike and subsequently reported a historical resource estimate of 1.2 million tonnes grading 1.51 per cent Li2O over a strike length of 365 metres and to a depth of 213 metres. This historical resource is documented in a 1956 assessment report by B. B. Bannatyne for the Lithium Corporation of Canada (Manitoba assessment report No. 94932). This historical estimate is believed to be based on reasonable assumptions and neither the company nor the QP (qualified person) have 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-per-cent recovery from which a concentrate averaging 5.9 per cent Li2O was obtained.
During this historical 1950-era work program, a complete mining plant was installed, designed to process 500 tonnes of ore per day; in addition, a three-compartment shaft was sunk to a depth of 74 metres. On the 61-metre level, lateral development was extended off the shaft for a total of 366 metres of drifting, from which six crosscuts transected the dike. The work was suspended in 1957, awaiting a more favourable market for lithium oxides, and the mine buildings were removed and the shaft sealed in 1963.
The mineral reserve cited above is presented as a historical estimate and uses historical terminology, which does not conform to current NI 43-101 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 NI 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 Goad, PGeo, who is a qualified person as defined by NI 43-101.
About QMC Quantum Minerals Corp.
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 metal, base metal, rare metal and resource properties of merit. The company's properties include the Irgon lithium mine project and two VMS (volcanogenic massive sulphide) properties -- Rocky Lake and Rocky-Namew -- known collectively as the Namew Lake district project. Currently, all of the company's properties are located in Manitoba.
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