- Assay results from historical drill core strongly suggest additional tonnage at the Irgon property
- QMC continues to develop the Irgon property toward commercial production
- The global lithium-ion battery market is projected to eclipse $60 billion by 2024
Lithium is well known by consumers as being a necessary component of rechargeable lithium-ion batteries, which are essential to power electric vehicles and other smart, mobile devices. A recent report by Global Market Insights projects that the global lithium-ion battery market will surpass $60 billion by 2024 as the growing adoption of electric vehicles, coupled with government initiatives to promote sustainable, green technology, boosts the lithium sector (http://ibn.fm/uBt7n).
The Irgon lithium mine project of southeastern Manitoba is located within the Cat Lake-Winnipeg River Pegmatite Field, which also hosts the nearby, world-renowned Tantalum Mining Corporation of Canada (TANCO) operation. TANCO, a wholly owned subsidiary of Cabot Corporation, is one of North America’s most successful spodumene and rare element pegmatite-hosted mines.
The Irgon project is comprised of 22 contiguous mineral claims that encompass a total of 11,325 acres. The Irgon lithium mine is positioned only 20 kilometers north of the TANCO mine. As QMC moves forward, it is aggressively working toward having its Irgon lithium mine project become the company’s first property to reach production (http://ibn.fm/cygRM).
QMC Quantum Minerals Corp. (TSX.V: QMC) (OTC: QMCQF) (FSE: 3LQ) continues to explore several additional spodumene-bearing pegmatite dikes identified within its Irgon lithium mine property. The company recently received positive assay results from historical drill cores for two additional pegmatite dikes.
This historical drilling was undertaken on the Central and Mapetre pegmatite dikes, which are also situated within the Irgon lithium mine property. The core has been securely stored in the TANCO core facilities at the mine site since 1978. The 1978 core samples provided by TANCO had originally been analyzed only for their concentration of tantalum and tin. According to a news release (http://ibn.fm/DiOVp), although the dikes were visibly spodumene-bearing (lithium) rare-element pegmatites, TANCO had not been interested in the lithium concentration and therefore did not analyze any of the samples for this element.
QMC resampled the core and reanalyzed the samples for 56 elements, including lithium, and the company noted that it is “very pleased with the overall results as they confirm continuation to depth of the spodumene mineralization previously identified by QMC’s surface sampling.”
Results of the core indicated that the best Mapetre dike intersection returned 0.32 percent Li2O over 16.61 meters, including 0.52 percent Li2O over 8.69 meters. The best intersection from the Central dike returned 1.28 percent Li2O over 3.81 meters, including 2.97 percent Li2O over 1.22 meters. Two additional sample intervals from drill holes on the Central dike re-assayed 1.50 percent Li2O over 1.52 meters and 1.04 percent Li2O over 1.52 meters.
The company stated in the news release, “This strongly supports the fact that both the Mapetre and the Central dikes remain excellent targets to add to the total tonnage available on the Irgon property.” In addition, “these results demonstrate that there is significant exploration potential for the Irgon property to host other large, spodumene-bearing pegmatite dikes in addition to the Irgon dike, as the lithium-bearing Central and Mapetre dikes are located on opposite ends of a large, 1,100-meter (3,600-foot) long, 100-meter (328-foot) to 350-meter (1,148-foot) wide” historical soil geochemical anomaly identified by TANCO, the source of which was never identified or evaluated.
For more information, visit the company’s website at www.QMCMinerals.com
NOTE TO INVESTORS: The latest news and updates relating to QMCQF are available in the company’s newsroom at http://ibn.fm/QMCQF
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