QMC Quantum planning for Irgon MMI geochemical survey

QMC PLANS MMI GEOCHEMICAL SURVEY OVER SELECTED TARGET AREAS ON THE IRGON MINE PROJECT, S.E. MANITOBA

QMC Quantum Minerals Corp. has provided an update on the company's 100-per-cent-owned Irgon 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 (TANCO) rare-element pegmatite.

QMC Quantum Minerals has initiated the planning of a mobile metal ion (MMI) geochemical survey over selected target areas within the Irgon mine project area. MMI geochemistry is a proven advanced geochemical exploration technique known to find mineral deposits. SGS Canada Inc. is the sole provider of MMI technology. As part of the services contracted to QMC (see the company's news release dated May 23, 2018), SGS will provide technical support and consulting services to undertake the MMI survey.

SGS's MMI technology is especially well suited to detect buried mineral deposits. At the Irgon project, it will measure the mobile metal ions (lithium, cesium, niobium, tantalum, rubidium and beryllium) in a soil sample that have been released from any underlying rare-element pegmatite mineralization. These ions travel upward through the soil profile composed of unconsolidated materials such soil, till and sand. Using careful soil sampling strategies, sophisticated chemical ligands and ultrasensitive instrumentation, SGS is able to measure the concentration of these ions. The main benefits of an MMI survey are the generation of very few false anomalies and any anomalies that are identified are sharp and focused directly over the mineral deposit. The survey has excellent repeatability and low detection limits. After interpretation, MMI data will indicate anomalous target areas on which to focus the subsequent drill program.

An initial orientation survey will be undertaken over known mineralization in the Irgon dike and subsequently expanded westward along strike to define any potential buried extensions of the dike. The MMI survey will also be utilized over the large historical lithium soil anomaly identified immediately south of Cat Lake, as was defined but never evaluated by TANCO in 1978 (see QMC's news release dated March 1, 2018).

Historical resource

Between 1953 and 1954, the Lithium Corp. of Canada Ltd. drilled 25 holes into the Irgon dike and subsequently reported a historical resource estimate of 1.2 million tons grading 1.51 per cent Li2O (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 resource 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 resource to current National Instrument 43-101 standards. Historical metallurgical tests reported an 87-per-cent recovery from which a concentrate averaging 5.9 per cent 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 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, and, at this time, the mine buildings were removed.

The mineral reserve cited herein 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.