- Advancing technologies and market adoption of electric vehicles expected to fuel lithium-ion battery market growth to $93.1 billion by 2025
- QMC has initiated planning of a geochemical survey over select areas of its Irgon Lithium Mine Project
- The company has several advantages expected to reduce the time required for exploration and to bring the Irgon Lithium Mine Project online
A positive market outlook and advantages enjoyed by Vancouver-based QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ) have placed the exploration company in a favorable position to benefit from projected higher global demand for lithium. The metal is needed as a key raw material in the manufacture of lithium-ion batteries, which are used to power electric vehicles, consumer electronics and energy grid power storage systems.
The global lithium-ion battery market is expected to reach $93.1 billion by 2025, growing at a compound annual growth rate (CAGR) of 17 percent, according to a report by Grand View Research, Inc. (http://ibn.fm/gnwXH). Advancing technologies that reduce the cost and weight of batteries while boosting power output, in addition to a worldwide boom in market adoption of electric vehicles, are expected to continue fueling demand growth.
QMC is currently working to confirm the historic 1950s resource estimate (1.2 MT at 1.51 percent Li2O) for its 100-percent-owned Irgon Lithium Mine Project, located in southern Manitoba’s bountiful Cat Lake-Winnipeg River Pegmatite Field (http://ibn.fm/AVzce). This area is prime lithium prospecting country because of the abundance of large, rare-element pegmatites containing spodumene mineralization, a lithium aluminum inosilicate which can contain up to eight percent Li2O. As part of the ongoing exploration program, QMC has initiated planning of a Mobile Metal Ion (“MMI”) geochemical survey over select targeted areas within the Irgon Mine Project property.
The company has invested two years in the exploration of the Irgon Lithium Project. While a typical hard rock mining project takes three to five years to reach this stage, QMC has several advantages that are expected to reduce the time needed to bring the project into production. The property was previously developed during the 1950s, and, by the time QMC acquired it, it already contained a published historical resource detailing exactly where to start extracting the lithium-bearing spodumene mineralization.
The Irgon Mine Property lies only 150 km (93 miles) from Winnipeg (http://ibn.fm/griZ0) and is 20 km north of Cabot Corporation’s TANCO mine, a world-class pegmatite deposit. A provincial highway crosses the QMC property, and rail transportation and hydroelectric power are located nearby. In addition to a road leading from the highway directly into the mine, a mineshaft and underground drifting was created decades earlier during previous development at the site. These advantages are expected to drastically cut costs and give QMC access to a trained labor force.
QMC is a Vancouver-based company engaged in the acquisition, exploration and development of lithium and other resource properties. Its objective is to locate and develop economic precious, base, rare-metal and resource properties of merit. Currently, all of the company’s properties are located in Manitoba, including the Irgon Lithium Mine Project and two VMS properties, the Rocky Lake and Rocky Namew, which are collectively known as the Namew Lake District Project.
For more information, visit the company’s website at www.QMCMinerals.com
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