QMC Quantum, SGS conduct MMI survey at Irgon

DRILL PROGRAM UPDATE: QMC AND SGS CANADA COMMENCE MMI SURVEY

QMC Quantum Minerals Corp. has provided an update on its company's 100-per-cent-owned Irgon lithium mine project located within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of southeast Manitoba, which also hosts Cabot Corp.'s nearby Tantalum Mining Corp. of Canada (TANCO) rare-element pegmatite.

As part of the continuing program to have SGS Canada Inc. confirm and potentially increase the historical resource on the Irgon dike (1.2 million tonnes at 1.51 per cent Li2O (lithium oxide)) to current National Instrument 43-101 standards, the SGS geologist, accompanied by QMC geologists, undertook an initial required site visit to evaluate the Irgon dike and all other known mineralized dikes on the property. SGS has completed its evaluation of all existing data available for the property and is assisting the company with finalizing the drilling program.

As part of the drilling program, QMC and SGS have completed an initial mobile metal ion (MMI) geochemical orientation survey across the Irgon dike. This initial survey will be used to identify the optimum sampling depth to achieve the best geochemical response from the underlying lithium mineralization. Samples from this orientation survey have been submitted to SGS and will be analyzed for 53 elements. QMC will utilize the MMI responses to best target the signature of the underlying Irgon mineralization and other target areas on the property.

MMI geochemistry is a proven advanced geochemical exploration technique especially well suited to detect buried mineral deposits. 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. SGS is the sole provider of MMI technology. Subsequent to the completion of this initial orientation survey, SGS will continue to provide technical support and consulting services to undertake additional MMI surveys over other proposed target areas within the Irgon lithium mine property.

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 tonnes grading 1.51 per cent Li2O 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 NI 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 tonnes 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.