|QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ) Announces High-Grade Assays at Irgon Mine|
- Total number of electric vehicles on the road may reach 40 million globally by 2025
- One electric vehicle uses more lithium in its batteries than 10,000 smartphones
- High-grade assays at Irgon Mine signal project feasibility
The scramble for lithium continues, fueled by promising projections like those issued by the International Energy Agency (IEA). In a revealing analysis on the global electric vehicle industry, the agency estimates that the global stock of electric cars will rise to 40-70 million by 2025 (http://nnw.fm/QO5rU). In 2016, the number of electric cars on roads around the world surpassed two million, after crossing the one million mark in 2015. Those numbers signal voracious future demand for lithium, far exceeding that required at present for smartphone manufacture, since, for example, ‘a Tesla Model S uses more lithium in its batteries than 10,000 smartphones’ (http://nnw.fm/JYe9q). Thus, although a huge rise in output is forthcoming from the Lithium Triangle – Argentina, Bolivia and Chile – market supply may still fall short of that required by global battery makers. Such market factors favor junior exploration company QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ). The corporation, based in Vancouver, British Columbia, is mining for lithium at Cat Lake, a property that hosts several rare-element granitic pegmatite occurrences, including the one at the Irgon Lithium Mine Project.
The Irgon Lithium Mine Project, located immediately north of Cat Lake, Manitoba, is home to pegmatite rich in cesium (CS), tantalum (Ta) and lithium (Li). The former owner of the property, the Lithium Corporation of Canada Limited, carried out substantial developmental work, and the deposit is estimated to contain more than 1.2 million tonnes of spodumene-bearing pegmatite graded at 1.5 percent lithium oxide. Overall, the Irgon property comprises the Irgon occurrence and several other known pegmatite dikes on 13 adjoining mineral claims covering 6,538 acres.
QMC’s portfolio also includes two volcanic massive sulphide (VMS) properties – the Rocky Lake and Rocky-Namew, known collectively as the Namew Lake District Project – which contain base metal-rich mineral deposits. These claims extend over approximately 23,000 hectares (~57,000 acres) in one of Canada’s most productive mining regions – the Flin Flon/Snow Lake VMS mining district of Manitoba, Canada.
QMC recently announced the release of results of historical assays conducted by the Lithium Corporation of Canada (LCOC) (http://nnw.fm/aKu1X). These historical assays – 2.3 percent lithium oxide over 7.3 feet – were obtained during LCOC’s 1956 channel sampling of the Irgon Dike where it is exposed underground in crosscuts on the 200-foot level. Models of these underground workings demonstrate that, to date, exploration and underground development have only been undertaken on the upper and central portions of dike, leaving significant potential to quickly increase tonnage as the Irgon Dike is open both along strike and to depth. The 2.3 percent lithium oxide assays put the deposits in the high-grade class, commercially feasible at present lithium prices.
This promising prognosis has cheered QMC’s experienced leadership team, which includes specialists in mineral exploration, geology, engineering, new business development, marketing and investor relations. The team includes consultant Bruce E. Goad, P. Geo., who has 40 years of experience in mineral exploration in Canada, Argentina, Asia and Africa. As a Qualified Person, Goad has worked on numerous deposit styles including rare element bearing pegmatites (Li, Ta, Nb, Be, Sn, U, TH), porphyries, banded iron formation (BIF) gold deposits, skarn, greisens and VMS. He has a wide and varied skillset which includes precious, base, industrial and rare metal projects with a sharp focus on gold exploration. Goad is the author of several scholarly publications on pegmatite granites of the southeastern Manitoba region.
For more information, visit the company’s website at www.QMCMinerals.com
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