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QMC Quantum Minerals Corp
Symbol C : QMC
Shares Issued 62,997,825
Close 2019-04-24 C$ 0.235
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QMC Quantum samples up to 2.79% Li2O at Irgon

2019-04-24 09:31 ET - News Release

Mr. Balraj Mann reports

QMC REPORTS LITHIUM ASSAY RESULTS TO 2.79% LI2O FROM MAPETRE, CENTRAL AND IRGON WEST DIKES

QMC Quantum Minerals Corp. has provided an update on the company's 100-per-cent-owned Irgon lithium mine project located within the prolific Cat Lake-Winnipeg River rare element pegmatite field of southeastern Manitoba, which also hosts Cabot Corp.'s nearby Tantalum Mining Corp. of Canada rare element pegmatite.

The Irgon lithium mine property hosts numerous spodumene-bearing pegmatite dikes, in addition to the Irgon dike. QMC has now received significant assay results from recent surface sampling of three of these large, secondary, spodumene-bearing pegmatite dikes located within the Irgon mine property. The results in the attached table were obtained from chip sampling across the Mapetre, Central and Irgon West dikes. The Central and Mapetre dikes exhibit historic trenches that were excavated across the dike, from which the chip/grab samples were obtained.

Sample                           Assay results                 Sample       Sample length     
location           Li2O (%)   Ta (ppm)   Rb (ppm)   Cs (ppm)     type                  (m)
          
Mapetre trench        2.47        274        447        147      Chip       1.5 (0 to 1.5)    
Mapetre trench       0.093        316      3,003        163      Chip   1.22 (1.5 to 2.72)
Central dike          1.42         22      1,301       90.2      Chip       1.4 (0 to 1.4)    
Central dike         0.042       23.5      2,128        168      Chip     1.8 (1.4 to 3.2)  
Central dike         0.533       27.3      2,638        173      Chip     2.0 (3.2 to 5.2)  
Central dike          1.13       29.3      1,782        127      Chip       2.9 (0 to 2.9)    
Central dike          2.34       19.8      2,905        165      Chip     4.1 (2.9 to 7.0)  
Irgon West dike       2.79        442        584       31.6      Chip       7.0 (0 to 7.0)    
Irgon West dike       2.47        178        606       46.7      Chip    5.0 (7.0 to 12.0) 
Irgon West dike       2.51       78.4        157       14.1      Chip   5.0 (12.0 to 17.0)
Irgon West dike        1.8        119        359       12.5      Grab                 N/A               
Irgon West dike       2.52       58.1        674       14.5      Grab                 N/A  

The company is excited with these initial sampling results, as they demonstrate a huge potential to develop additional tonnage within the Irgon lithium property (in addition to the tonnage currently being defined by SGS Canada that exists within the upper central portion of the Irgon dike); numerous pegmatite dikes on the property host significant spodumene mineralization. These dikes show significant potential, as they have been sampled across widths of up to 17 metres. An exploration program consisting of overburden stripping and channel sampling of the mineralized dikes is being planned for the upcoming field season to fully define the width, strike length and lithium grade of these dikes.

All samples were analyzed at SGS Laboratory in Lakefield, Ont. QMC received analysis for 56 elements using a sodium peroxide fusion followed by inductively coupled plasma atomic emission spectroscopy (ICP-AES/ICP-MS) assay.

Historical estimates

Between 1953 and 1954, the Lithium Corp. of Canada Ltd. drilled 25 holes into the Irgon dike and, subsequently, reported a historical mineral estimate of 1.2 million tons grading 1.51 per cent lithium oxide over a strike length of 365 metres and to a depth of 213 metres (Northern Miner, Vol. 41, No. 19, Aug. 4, 1955, page 3). This historical estimate is documented in a 1956 assessment report by B.B. Bannatyne for the Lithium Corp. of Canada (Manitoba assessment report No. 94932). This historical estimate is believed to be based on reasonable assumptions, and neither the company nor the qualified person 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 estimate to current National Instrument 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 1950s era work program, a complete mining plant was installed on site, which was designed to process 500 tons of ore per day, and 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 seven crosscuts transected the dike. The work was suspended in 1957, awaiting a more favourable market for lithium oxides. During this time, the mine buildings were removed.

The mineral estimate cited above is presented as a historical estimate and uses historical terminology that 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 E. Goad, PGeo, who is a qualified person as defined by NI 43-101.

About QMC Quantum Minerals Corp.

QMC Quantum Minerals is a British Columbia-based company engaged in the business of acquisition, exploration and development of resource properties. QMC Quantum Minerals' 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 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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