Quantum Minerals Nearly Quadruples Size of Lithium Project

lithium free investors report

QMC Quantum Minerals Corp. (TSXV:QMC) released an update on exploration activities at its wholly owned Irgon lithium mine project in Manitoba.

As quoted in the press release:

The company has acquired, through staking, an additional 9 contiguous mineral claims which increases the number of claims comprising the property to 13 and the area extent of the Irgon Lithium Mine Property to encompass 6,538 acres (2,647 hectares) from 1,729 acres (700 hectares) an increase of 378%.

The press release also states:

Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and subsequently 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 B. B. Bannatyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions and neither the company nor the QP have any reason to contest the document’s relevance and reliability. The ongoing 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% 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 Continue Reading

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