May 22 2019
QMC Quantum Minerals Corp. takes immense pleasure in announcing that it has now obtained the assay results of the 1978 core derived from the Tantalum Mining Corporation of Canada’s (“TANCO”) drill program on the Mapetre and Central Dikes.
At the time of this 1978 program, the BQ core had been divided and then analyzed by TANCO to determine the tantalum and tin concentrations alone; the lithium content had not been taken into account since TANCO was not interested in this metal at that time. During this historical program, two small holes were drilled through the Mapetre Dike and 20 small holes were captured on the Central Dike. In the interim, the core has been safely stored in the TANCO core facilities at the mine site. Presently, TANCO is a wholly owned subsidiary of Cabot Corporation.
The best Mapetre Dike intersection that QMC obtained from the re-assay of the TANCO core was 0.32% Li2O over 16.61 m, comprising 0.52% Li2O over 8.69 m. The best intersection from the Central Dike was 1.28% over 3.81 m, comprising 2.97% Li2O over 1.22 m. Two extra sample intervals from drill holes on the Central Dike re-evaluated 1.50% over 1.52 m and 1.04% over 1.52 m. This strictly supports the fact that both the Mapetre and the Central Dikes continue to be exceptional targets to increase the total tonnage available on the Irgon Property.
The Company is extremely happy with the overall outcomes as they approve continuation to a depth of the spodumene mineralization earlier identified by QMC’s surface sampling. These outcomes indicate that there is considerable exploration possibility for the Irgon Property to hold other large, spodumene-bearing pegmatite dikes, as well as the Irgon Dike, as the Central and Mapetre Dikes are situated on opposite ends of a 1100-m (3600-foot) long, 100-m (328-foot) to 350-m (1,148-foot) wide target.
The Company intends to carry on with the exploration of these and other dikes discovered on the property. During the 2019 field season, the overload will be taken away to uncover the strike length and width of the Mapetre and Central Dikes and also many other spodumene-bearing dikes presently discovered on the property. These dikes will then be mapped and channel sampled.
Historical Estimates
From 1953 to 1954, the Lithium Corporation of Canada Limited dug 25 holes into the Irgon Dike and then gave a historical mineral estimate of 1.2 million tons grading 1.51% Li2O over a strike length of 365 m and to a depth of 213 m (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical estimate is detailed 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 assumed to be on the basis of reasonable assumptions, and there is no reason to contest the relevance and reliability of the document for the company or the QP. The comprehensive channel sampling and a successive drill program will be needed to update this historical estimate to current NI 43-101 standards. Historic metallurgical tests estimated an 87% recovery from which a concentrate averaging 5.9% Li2O was acquired.
During this historical 1950s-period work program, an inclusive mining plant was set up onsite, intended to process 500 tons of ore per day, and a three-compartment shaft was drilled to a depth of 74 m. On the 61-m level, lateral development was branched out from the shaft for a total of 366 m of drifting, from which seven crosscuts intersected the dike. The work was discontinued in 1957 awaiting a more constructive market for lithium oxides. During this time, the mine buildings were eliminated.