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Changes in the Lithium Market Drive Growth in Canadian Mining

NetworkNewsWire Editorial Coverage

 

New York NY – October 16, 2018 – Growing demand for powerful batteries, coupled with attempts to break China’s hold on the market, are leading to growth for Canadian lithium explorers.

 

  • Lithium is essential for batteries used in personal electronics and electric vehicles.
  • The recent rise of electric cars, together with faster than expected production of other electric vehicles, is creating a huge rise in demand.
  • The market’s current top global suppliers are China and Chile.
  • Emerging companies in Canada are starting work on alternative sources of lithium that could reduce reliance on these two countries.

 

One of the companies setting up new Canadian mines is QMC Quantum Minerals Corp. (OTC:QMCQF) (TSX.V:QMC) (FSE:3LQ) (QMCQF Profile), which is using existing infrastructure in Manitoba to quickly get production up and running. Albemarle Corp. (NYSE:ALB), the world’s largest lithium manufacturer, has seen a surge in production that has almost doubled its earnings. Nemaska Lithium, Inc. (OTC:NMKEF) (TSX:NMX) is setting up mining and processing facilities in Canada as well as establishing supply agreements for when that work is completed. Sociedad Quimica y Minera S.A. (NYSE:SQM) is diversifying its lithium production, adding mining to brine extraction operations. All of this is driven by the work of companies such as Tesla, Inc. (NASDAQ:TSLA), whose electric cars are responsible for much of the demand.

 

To view an infographic of this editorial, click here.

 

The Changing Lithium Market

 

In the past 20 years, lithium has become one of the most sought-after commodities in the world. Lithium-ion batteries, which are used in everything from smartphones to electric trucks, are increasingly ubiquitous. Lithium is essential to their production, and as a result, demand for the mineral has soared. Mining companies around the world are rushing to set up lithium extraction facilities to get the precious metal to market.

 

This urgent need is leading to unexpected shifts in global markets. China, already a strong player in the lithium market, is attempting to corner its production. Previously neglected mines are being revived as sources of lithium. Countries that previously weren’t players in the market are emerging as potentially significant lithium producers. One of those countries is Canada.

 

Driving Up Demand

 

Recent years have seen a surge in lithium companies. Whether this growth is by established players or by the emergence of companies such as QMC Quantum Minerals Corp. (OTC:QMCQF) (TSX.V:QMC) (FSE:3LQ), one factor appear to be driving this — electric batteries.

 

Most of the chargeable batteries now used in personal electronic devices are lithium based. Mobile phones, tablets and laptops all rely on lithium to stay charged, sparking a surge in demand since the turn of the millennium. This demand is now being driven to stratospheric levels by another source — electric vehicles.

 

All electric cars use lithium batteries, and the vehicles require far more of the mineral than do smartphones. A Tesla Model S might need a hundred pounds of lithium in its batteries compared to a phone, which needs only a few grams. Becoming ever more common, electric cars are increasingly seen on the roads as environmentally conscious consumers try to get away from fossil fuels. Major manufacturers such as Volkswagen and BMW are spending millions on developing electric cars, all of which need the lithium that QMC and others can produce.

 

Production of electric trucks and buses are coming more quickly than expected, causing demand for lithium to further outstrip supply. With recent mandates by several cities, governments and car manufacturers, such as Volvo and Volkswagen, the demand for lithium continues to surpass production. Navistar has developed electric dump trucks while BYD (Lithium Battery Company) is producing electric buses.

 

Global lithium production is already at 600,000 tons per year and demand is expected to grow by another 600,000 to 800,000 tons over the next decade. Prices have risen 30 percent over the past few years and are likely to continue their ascent. This increase is great news for QMC. As the owner of a 1.2 million-ton lithium oxide deposit in Manitoba, which the company regards as a historical resource, QMC appears to be in a position to profit from this growth. As an emerging company, QMC may be especially appealing to investors, who can buy its shares for a fraction of those in more established mining companies.

 

Competing with Chinese Lithium

 

The fact that QMC’s deposit is in Canada is particularly important at this stage in the development of the lithium industry.

 

The two largest lithium producers in the world are currently in China and Chile, with Australia coming in third. China controls 30 percent of lithium production and is making moves to gain control of more. Chinese manufacturers recently tried to buy a large stake in one of Chile’s major lithium producers, only to be blocked by the Chilean government until the two parties could reach an agreement that granted the Chinese 24 percent of the company. As a major manufacturer of electric cars, this important move supports one of China’s growth industries; however, it’s also a strategic move, ensuring that China has access to supplies of a resource with significant uses in infrastructure and military equipment.

 

China’s focus on controlling lithium has created two strong reasons for other countries to develop their lithium deposits. On the one hand, there is the possibility of these countries benefitting from Chinese investment, attracting the money that Beijing businesses are throwing at the lithium supply problem. In addition, there’s the desire to reduce reliance on Chinese lithium and provide additional options — and independence — to electric vehicle manufacturing around the world.

 

Manitoba, where QMC has its lithium claims, is rich with potential for lithium exploitation. Recognized as one of the world’s best mining districts, it has previously been a rich source of other minerals. Many of these deposits, such as those being explored on QMC’s Irgon Lithium Mine Project Property, were discovered decades ago but never exploited, as lithium wasn’t a profitable resource at the time. Now the old mining records are being dusted off, and work is commencing in these neglected claims.

 

Extracting Canada’s Mineral Wealth

 

QMC’s lithium operations show how companies outside of China and Chile can compete with the big players, despite working on a smaller scale.

 

QMC’s Irgon Lithium Mine Project is based around Cat Lake within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of S.E. Manitoba. This year, the company acquired 18 new claims, taking its total in the area up to 22. The lithium sources include the former Irgon Mine, possibly the best and richest lithium deposit in the whole of Manitoba. The quality of lithium ore in the area is also particularly rich – 1.51 percent lithium oxide, one of the higher grades of any company’s deposits in the country.

 

The region’s old mining industry also provides opportunities. Past surveys have put QMC ahead of the game in mapping out and analyzing the available lithium. Existing infrastructure for power and access can be reused, speeding up the establishment of mines. QMC’s project is road accessible with  skilled workers readily available in the area.

 

The methods of mineral extraction used on these sites will be faster than those widely used in China and Chile. There, lithium is extracted from brines, with areas flooded, and the water evaporated to extract the minerals. In its Manitoba claims, QMC can simply mine and process the rock. This means a much faster turnaround time to set up extraction and see the results. Between its mining methods and the existing infrastructure, QMC is in a good position to quickly start extracting large quantities of high-quality lithium ore. Bottom line, QMC is poised to jump into the Lithium production market and could prove to be a big player.

 

Lithium Production across the Americas

 

The lithium industry’s importance in both North and South America is reflected in the growing number of companies and their wealth in the sector.

 

The biggest lithium manufacturer in the world, Albemarle Corp. (NYSE:ALB) has benefited enormously from the changes of the past few years. While it also produces bromine and catalysts for the chemical industry, lithium is now its most important resource. It produced 29 percent of the world’s lithium in 2017, thanks to its heavy investment in the Chilean lithium industry. This has led to stellar financial performance. During the second quarter of 2018, it saw a 16 percent rise in net sales on the same period for the previous year, producing a 197 percent increase in earnings.

 

Quebec-based company Nemaska Lithium, Inc. (OTC:NMKEF) (TSX:NMX) is working to set up lithium mining and processing facilities in Canada, with an aim of catering to the car market. Like QMC, it will be extracting lithium from mineral-rich ores. As of this month, work is on schedule to get the mine and processing plant up and running. Based on this, the company expects to start producing concentrate in the second half of 2019 and lithium salts in 2020. It already has a supply agreement with green battery manufacturer Northvolt, ensuring a market for some of its product.

 

Like Albemarle, Sociedad Quimica y Minera S.A. (NYSE:SQM) produces lithium from Chilean brine sources. As demand for lithium grows, SQM’s operations do as well. It is moving into lithium rock extraction, with mining at Mount Holland expected to begin in 2021. As the producer of 23 percent of the world’s lithium in 2017, it’s second only to Albemarle as a lithium producer while also manufacturing other industrial and agricultural chemicals.

 

One of the most prominent companies driving the demand for lithium is Tesla, Inc. (NASDAQ:TSLA). Famous for its work in electric and self-driving cars, Tesla has seen huge growth in demand for its vehicles, leading to a 40 percent rise in vehicle production in the first quarter of 2018.

 

Rapid growth in the electric vehicle market is leading to great demand for lithium batteries. Lithium producers that can quickly bring new sources online could profit tremendously from this surge.

 

 

For more information about QMC, please visit QMC Quantum Minerals Corp. (OTC:QMCQF) (TSX.V:QMC) (FSE: 3LQ).

 

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.

 

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DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

 

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The Lithium Boom Has Only Just Begun

NetworkNewsWire Editorial Coverage

 

New York NY – October 2, 2018 –  Despite short-term gyrations, the outlook for lithium continues to shine. Electric mobility is still only in its infancy. Revolutionizing how we commute and power our lives, the inevitable tsunami of electric vehicles and burgeoning demand for energy grid storage are driving lithium demand for the foreseeable future.

 

  • The electric revolution is still in its infancy.
  • Lithium demand expected to triple in next seven years.
  • Lithium stocks could surge with demand.
  • Junior miners offer big upside potential.

 

Anticipation of an exponential increase of electric vehicles coupled with expanding demand for lithium-ion (L-ion) batteries drove the lithium mining sector to reach all-time highs last year. Lithium shares swooned at the beginning of 2018 on a negative oversupply forecast by Morgan Stanley analysts. That forecast has since been widely debunked by a broad range of lithium industry experts and given only a 1 percent chance of happening. As the world inexorably advances into the new electric power paradigm, the lithium sector should experience an excellent decade and produce outsized returns. Demand for raw battery materials continues to grow at an unprecedented pace, and lithium miners could easily rack up further gains and reach new highs. With large upside potential, evermore attention is turning to junior miners such as QMC Quantum Minerals Corp. (OTC:QMCQF) (TSX-V:QMC) (FSE:3LQ). The company is intent on building shareholder value through the acquisition, exploration and development of natural resource properties that contain either high-quality lithium or silver, gold, nickel, copper and zinc opportunities. Historically validated, QMC’s 100 percent-owned flagship project, the Irgon Mine Project,holds a potential motherlode of lithium. In addition, major lithium producers such as Albemarle Corporation (NYSE:ALB) and Sociedad Quimica y Minera S.A. (NYSE:SQM) plan production increases, and Nemaska Lithium, Inc. (OTC:NMKEF) (TSX:NMX) is also in the hunt to supply companies such as Tesla, Inc. (NASDAQ:TSLA) and myriad other end users seeking a secure supply chain.

 

To view an infographic of this editorial, click here.

 

Lithium Demand May Exceed Expectations

 

Reflecting the scale of the impending energy revolution, respected independent commodity forecaster Roskill tripled its demand forecast for lithium through 2026. Two years ago, Roskill forecast demand would increase to 328,000 metric tons of lithium carbonate equivalent by 2026; now the commodities expert has revised the outlook and expects demand to explode to more than 1 million metric tons by then. However, lithium supply expectations fall far short of forecasts. In 2018, the total lithium production will total only around 280,000 metric tons of lithium carbonate equivalent — a far cry from what’s needed.

 

A wild card in the quest for lithium feedstocks is China, which already controls 55 percent of global lithium-ion battery production. China plans to deliver about 3.5 times more gigawatt-hours of battery cells a year than the Tesla Gigafactory and is expected to command 65 percent of all production by 2021. China also has been pushing hard for clean energy and intends to flood highways with 5 million electric vehicles by 2020. As electric autos and energy storage solutions surge, indications are that lithium may soon become the most important energy commodity in the world.

 

Juniors Should Shine

 

Many believe that the majors just won’t be able to produce enough lithium to meet global demand. Select junior miners are likely to be the beneficiaries and could produce exceptional returns. QMC Quantum Minerals Corp. (OTCPK:QMCQF) (TSX.V: QMC) (FSE: 3LQ) is in the sweet spot to capitalize on the enormous opportunity ahead. Documented by the previous owner, QMC’s flagship project, the Irgon Lithium Mine, is directly centered on a site rich with lithium-indicated resources. In the 1950s, the Lithium Corporation of Canada Ltd. drilled 25 holes into the Irgon Dike and reported a historical resource estimate of 1.2 million tons grading 1.51 percent Li2O over a strike length of 365 meters and to a depth of 213 meters. The mine was closed in the late 1950s due to a lack of demand for lithium at the time; things certainly have changed since then. QMC is currently updating the historical resource data to meet current NI43-101 reporting standards through a detailed channel sampling and subsequent drill program. An interactive 3-D model displaying historical data derived from past drilling and underground work shows that exploration and underground development has taken place only on the central portion of the dike, which means there’s a significant opportunity to quickly increase tonnage along strike. QMC recently issued an update on its promising drill program.

 

Once these assets are confirmed to current standards, it’s likely they will have a dramatic impact on QMC’s balance sheet. The results so far have been exceptionally promising since they currently reflect historic assays. Channel sampling on the Irgon Dike has returned 1.73 percent Li2O over 14 meters. In addition,regional results obtained from sampling of other dikes in the area returned three chip samples with concentrations over 1.90 percent lithium-oxide, including one that assayed 2.62 percent. These positive results, in conjunction with the well-developed mining infrastructure already in place, may position QMC to quickly leverage the assets and capitalize on the global demand for lithium.

 

Location, Location, Location

 

QMC’s Irgon Lithium Mine Project is strategically located in the prolific Cat Lake-Winnipeg River rare-element pegmatite field of southeastern Manitoba, Canada. This area is rich in spodumene-bearing pegmatite occurrences, also known as the source for hard-rock lithium mineralization, that often contain large amounts of lithium and other rare-element-bearing minerals. Once surveys and sampling have been completed, hard-rock pegmatite deposits are much faster to mine than salt brines, and production is more reliable. QMC is already ahead of the curve with all the previous work done and should be able to move forward to mining the riches quickly. The region’s abundant mineral resources are further substantiated by the mining activities of neighboring specialty materials behemoth Cabot Corp. through its Tantalum Mining Corporation of Canada (TANCO) rare-element pegmatite deposit.

 

QMC Quantum Minerals has already invested two years in the exploration of its Irgon Lithium Project. Normally it takes three to five years to develop, but due to the extensive previous exploration and development work done on the site decades ago, QMC expects to start operations much sooner than anyone thought possible and is rapidly moving toward bringing the property online for production. QMC has expanded its Irgon Lithium Mine Project holdingsby 650 percent, raising the project’s contiguous footprint to 11,325 acres as it aggressively moves the Irgon Mine Project forward to production.

 

Like the Irgon Lithium Mine Project, QMC’s 100 percent-owned Namew Lake District Property is also exceptionally well located. The 23,000-hectare property encompasses the Rocky Lake Discovery in the Flin Flon Belt, a world-class mining district in Northwestern Manitoba. QMC’s geophysical and drill programs at the Rocky Lake Project identified significant geophysical conductors, and assays from the drill holes showed evidence of gold, copper and zinc mineralization. This project represents a massive resource with strong future potential, but with lithium in such demand, QMC is focused on bringing the Irgon Property into production first.

 

Utility Storage Solutions

 

Lithium demand could skyrocket even higher than anticipated. A Wall Street Journal article revealed an enormous but seldom recognized lithium demand driver. Multiple states and municipalities in conjunction with utilities across the country are revamping antiquated electric grids and utilizing high-density Li-ion energy storage batteries to make the grid more efficient. Utility companies are increasingly storing energy in neighborhood battery junction boxes during off-peak, using it during peak demand and avoiding expensive peak demand electricity.

 

Leading global electricity industry expert GTM Research published a report on the state of the U.S. energy storage market. The study projects that in just three years, deployments of stored energy in residential, nonresidential and utility systems will grow to more than 10 times greater than current levels. Such a drastic increase in deployment is expected to lead to an energy storage market worth $2.8 billion.

 

If there are any doubts about lithium demand, look at any lithium mining company — every single one is trying to rapidly expand production. The lithium boom has just begun, and it won’t end any time soon. Strategically positioned portfolios in the lithium sector should excel well into the future.

 

Buyers and Suppliers

 

To lock in lithium supplies, Tesla, Inc. (NASDAQ:TSLA) just signed a deal with China’s top lithium producer to satisfy its thirst for the raw material. Tesla uses the metal as a key component to manufacture batteries for its electric cars and other energy storage products. The company is rapidly expanding output of its Model S and building a lithium-ion battery factory in Nevada.

 

Albemarle Corporation (NYSE:ALB) is among the world’s largest lithium producers and a leader in specialty chemicals. Albemarle’s lithium business segment mines lithium and converts it into different forms along the value chain. The company operates one of the only operating lithium brines in North America as well as a brine in Chile. ALB plans to expand production in 2019 under an Australian joint venture.

 

Chile-based Sociedad Quimica y Minera S.A. (NYSE:SQM) is an intriguing player in the global scramble to secure greater supplies of lithium. SQM announced plans to expand lithium carbonate capacity to 63,000 metric tons by year end. The Chilean government blocked China’s aggressive bid for over 30 percent ownership of SQM last year but reached an agreement in May allowing China’s Tianqi Lithium to buy a 24 percent stake, which could grant China control of about 60 percent of the world’s lithium supply.

 

Nemaska Lithium, Inc. (OTC:NMKEF) (TSX:NMX) is developing spodumene hard-rock lithium deposits in Canada and is pursuing patent protection for its proprietary process to produce lithium hydroxide and lithium carbonate. The company just signed a five-year supply agreement with Northvolt, an European battery maker. Nemaska recently obtained $75 million in funding to finance its Whabouchi Mine.

 

For more information about QMC, please visit QMC Quantum Minerals Corp. (OTCPK:QMCQF) (TSX.V:QMC) (FSE:3LQ)

 

About NetworkNewsWire

 

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.

 

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

 

DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

 

NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.  The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.

 

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Drill Program Update: QMC and SGS Canada Commence MMI Survey

VANCOUVER, British Columbia, Sept. 17, 2018 — QMC Quantum Minerals Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK: QMCQF) (“QMC” or “the Company”) is pleased to provide an update on its company’s 100% owned Irgon Lithium Mine Project located within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of S.E. Manitoba, which also hosts Cabot Corporation’s nearby Tantalum Mining Corporation of Canada (“TANCO”) rare-element pegmatite.

 

As part of the ongoing program to have SGS Canada Inc. (“SGS”) confirm and potentially increase the historical resource on the Irgon Dike (1.2 M tons at 1.51% Li2O) to current NI43-101 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 their 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 the 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 1953-1954, 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 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. 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 onsite, designed to process 500 tons of ore per day, and 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 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 above is presented as a historical estimate and uses historical terminology which does not conform to current NI43-101 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 National Instrument 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.

 

Qualified Person and NI 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo., who is a qualified person as defined by National Instrument 43-101.

 

About the Company

QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base, rare metal and resource properties of merit. The Company’s properties include the Irgon Lithium Mine project and two VMS properties, the Rocky Lake and Rocky-Namew, known collectively as the Namew Lake District Project. Currently, all of the company’s properties are located in Manitoba.

 

On behalf of the Board of Directors of

QMC QUANTUM MINERALS CORP.

“Balraj Mann”

Balraj Mann

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

 

Source: QMC Quantum Minerals Corp.

QMC Plans MMI Geochemical Survey Over Selected Target Areas on the Irgon Mine Project, S.E. Manitoba

VANCOUVER, British Columbia, July 24, 2018 — QMC Quantum Minerals Corp., (TSX.v:QMC) (FSE:3LQ) (OTC PINK:QMCQF) (“QMC” or “the Company”).  QMC is pleased to provide an update on the company’s 100% owned Irgon Mine Project located within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of S.E. Manitoba, which also hosts Cabot Corporation’s nearby Tantalum Mining Corporation 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. (“SGS”) is the sole provider of MMI technology. As part of the services contracted to QMC (QMC NR of 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 (Li, Cs, Nb, Ta, Rb, Be, etc.) 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, sand, etc.  Using careful soil sampling strategies, sophisticated chemical ligands and ultra-sensitive 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 historic lithium soil anomaly identified immediately south of Cat Lake as was defined but never evaluated by TANCO in 1978 (QMC NR of March 01, 2018).

 

HISTORICAL RESOURCE
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 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. 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 onsite, designed to process 500 tons of ore per day, and 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 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 above is presented as a historical estimate and uses historical terminology which does not conform to current NI43-101 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 National Instrument 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.

 

Qualified Person and NI 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo., who is a qualified person as defined by National Instrument 43-101.

 

About the Company

QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base, rare metal and resource properties of merit. The Company’s properties include the Irgon Lithium Mine project and two VMS properties, the Rocky Lake and Rocky-Namew, known collectively as the Namew Lake District Project. Currently, all of the company’s properties are located in Manitoba.

 

On behalf of the Board of Directors of

QMC QUANTUM MINERALS CORP.

“Balraj Mann”

Balraj Mann

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Corporate Communications Contact: 
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

 

Source: QMC Quantum Minerals Corp.

About QMC Quantum Minerals

QMC Quantum Minerals Corp. (TSX.V: QMC) (FSE: 3LQ) (OTC: QMCQF), based in Vancouver British Columbia, is engaged in the acquisition, exploration and development of natural resource properties. The company’s focus is to create shareholder value through strategic acquisition and development of high-quality lithium, silver, gold, nickel, copper and zinc prospects.

 

Quantum Minerals’ current projects are located in the Canadian province of Manitoba, one of the country’s most productive, centrally located mining regions. QMC Resources include the following two wholly-owned properties, from which the company’s aim is to identify economic mineral deposits for development and near-term production.

 

QMC’s management’s extensive experience in the field of mineral exploration and development gives us a competitive advantage in discovering, appraising and advancing mineral deposits, particularly overlooked resources with high upside potential. QMC also draws on the tremendous experience of its management in the realm of corporate finance and public markets, which will prove invaluable in acquisition, financing, and creating shareholder value.

 

COMPANY MANAGEMENT

 

Balraj Mann
CPA. CA., CEO, President & Director
Mr. Balraj Mann is a chartered accountant with over 35 years of experience serving as director and advisor for both public and private companies in the areas of corporate finance, acquisitions and financial reporting. Mr. Mann served as senior manager with Price Waterhouse, where he attained his CA designation in 1982. From 1989 to 2001, he was president of a private real estate development corporation completing industrial, commercial, single and multi-family high-rise residential projects in excess of $200 million. During this time, Mr. Mann was also an active participant in the corporate management of the Boundary Bay Airport in Delta, BC. He was a member of the advisory board of Accelerate Power Systems Inc, formerly Key Capital Group Inc., from 2000 to 2001. Over a period of six years, from 2006 to 2012, Mr. Mann had served as the chief financial officer, director, and senior advisor of Business Development at Eagle Star Minerals Corp.

 

Bruce E. Goad
P. Geo., M.Sc., Chief Geologist
Bruce E. Goad has over 40 years experience in mineral exploration. After completing his undergraduate degree, Mr. Goad began a four year study of the pegmatitic granites in the Winnipeg River Area (Manitoba) for his M.Sc. thesis. In part, field work during the summer months involved evaluation of both the Li-Ta-Nb-Be-Sn-bearing, rare element pegmatites within the Bird River-Cat Lake area of Manitoba and the lithium (spodumene)-bearing pegmatites in the Wekusko Lake area of central Manitoba. Upon graduation, he began his career with AMAX Minerals / Canamax Resources in Vancouver.

 

Edward Low
CFO
Mr. Edward Low has 20 years of experience in providing accounting services to both public and private companies. Within his extensive experience, Mr. Low has held various leadership positions including those of chief financial officer, controller and consultant in various publicly traded companies. Since 1998, he has provided accounting services to junior mining companies, including those listed on the TSX Venture Exchange, and OTC: Bulletin Board.

 

Alicia Milne
Director
Ms. Alicia Milne is a corporate secretary and securities compliance consultant providing services to various public companies listed on the NYSE, TSX and TSX Venture Exchanges. Beginning in the legal industry over 18 years ago as a securities paralegal, Ms. Milne has developed her career over the last 15 years serving as a corporate secretary, securities compliance officer and corporate consultant, as well as an independent director. She has worked with various public companies, including but not limited to Commerce Resources Corp, Eagle Star Minerals Corp, Pasinex Resources Ltd, and Zimtu Capital Corp. Ms. Milne is a member of the Governance Professionals of Canada (formerly Canadian Society of Corporate Secretaries) and also serves as the secretary to the Board of Directors of Women in Mining BC. Ms. Milne continually remains current with regulatory requirements, completing most industry related courses offered by the regulatory authorities and various associations.

 

Anthony Zelen
Director
Mr. Anthony Zelen has over 20 years of experience in roles ranging from investor relations, public relations and strategic marketing for technology, mining and oil and gas industries. Anthony serves as the director of several publicly traded companies and has a number of successful private business ventures under his belt. Mr. Zelen holds a BA in economics and political science from Simon Fraser University.

 

OUR PROPERTIES

 

QMC Quantum Minerals’ flagship project, the Irgon Lithium Mine is just 20 km from Tantalum Mining Corporation of Canada (“TANCO”) TANCO Mine, North America’s most successful lithium mine to date—and shows even richer ores. With a shaft already drilled and a historic (non NI 43-103 compliant) resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 metres (1,200 ft) and to a depth of 213 metres (700 ft), Irgon is projected to be QMC’s first mine to reach production. Our Namew Lake District Project has the potential for a significant discovery of copper, nickel, gold, silver, palladium and platinum.

 

IRGON LITHIUM MINE

 

QMC Quantum Minerals’ Irgon project is a resurrection story.

Shortly after World War II, Lithium Corporation of Canada (LCOC), began work on this property located in Manitoba, just north of Cat Lake 150 km (93 miles) from Winnipeg.

 

In 1953-1954, LCOC drilled 25 holes into a geological formation at Cat Lake called the Irgon Pegmatite Dike. The Lithium assays obtained from this sampling were outstanding. Geologists estimated the part of the Irgon Dike lithium resource they looked at contained 1.2 million tons of ore grading 1.51% Li20 over a strike length of 365 meters and to a depth of 213 meters.

 

LCOC excavated a 3-compartment shaft descending 74 meters into the ground . It also constructed a processing plant on the site to process the ore, and a road to connect the mine site to nearby Provincial Routes 324 and 315, but lithium prices plunged, and LCOC shut down its Irgon Mine in 1957, announcing, “work was suspended, awaiting a more favorable market for lithium oxides.”

 

After re-evaluating LCOC’s historic data, we believed the numbers were reasonable given the technology of the day. More than that—they hinted at greater promise for a number of reasons.

 

First, the local geology is supportive. Irgon Dike lies in the Winnipeg River Pegmatite Field. The entire area is prime lithium-hunting country because it is rich in a mineral called spodumene.

 

Also, you can see on the map, the TANCO lithium mine, which was discovered in the late 1920’s and has been mined intermittently since 1929 is a near neighbour. The Irgon Mine shaft is less than 20 km (about 12 miles) away from the TANCO deposit. During its peak operating years, the TANCO mine was North America’s largest producer of lithium.

 

We were also encouraged that the original metallurgical tests showed an 87% recovery rate for lithium from the Irgon Dike samples.

 

Namew Lake Property

 

QMC Quantum Mineral’s Namew Lake District property encompasses the Rocky Lake Discovery in the world-class Flin Flon/Snow Lake Volcanic Massive Sulphide (“VMS”) mining district in Northwestern Manitoba.

 

We are the 100% owner of this extensive property that covers approximately 23,000 hectares.

 

Like the Irgon mine, Namew Lake is very well located. It is approximately 50 kilometers northwest of the town of The Pas and 65 kilometers south of the mining center and former smelter at Flin Flon, Manitoba. Accessis off of Highway 10.

 

We know this is a rich area. The old Namew Lake mine, 11 kilometers away, produced 2.57 million tonnes of copper, nickel, gold, silver, palladium, and platinum over five years.

 

QMC has historical data on the Namew site. In 1984, Hudson Bay Minerals and Inco conducted airborne surveys, ground geophysics, and drilling to identify potential nickel and copper deposits. Additional surveys from 1987 to 1991 yielded additional confirmation of potential copper mineralization in the Rocky Lake area.

 

At our Rocky Lake Project in the Namew Property drill programs found significant conductors—rock with enough mineral content to carry electricity. Assays from the drill holes showed gold at levels from 0.5 to 3.5 ppb, copper at 98 to 491 ppm, 10% to 32% iron, and zinc in some drill holes ranging up to 0.44%.

 

Exploratory drilling continued in Namew through 2013. At current prices, QMC will concentrate on bringing the Irgon Property into production first, but Namew remains a massive resource with strong future potential for us.

 

WHY INVEST IN QMC?

 

QMC Quantum Minerals Corp. is focused on creating shareholder value through the strategic acquisition and development of high quality Lithium Ag-Au-Ni-Cu-Zn prospects in Manitoba, Canada, one of the most productive mining regions with a centralized and well-developed mining infrastructure currently in place, in addition to being ranked as one of the most mining friendly jurisdictions in the world.

 

QMC’s high-potential Ag-Au-Cu-Ni-Zn prospects in the world class Flin Flon VMS district, the Cat Lake Lithium Property (the former Irgon Mine) and an experienced management team in both exploration geology and corporate finance put QMC in an excellent position to take advantage of rising prices in lithium, precious and base metals.

 

QMC aims to execute comprehensive work programs on its Cat Lake (the former Irgon Mine), Rocky Lake and Namew Lake Properties, to identify economic mineral deposits for development and near term production.

 

Source:  https://www.qmcminerals.com/

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