alexgreat replied the topic: Quantum Minerals TSXV:QMC OTC:QMCQF
DJ great idea to start a topic. I am up nicely on my position. here is the news out today
2017-11-01 10:46 ET - News Release
Mr. Balraj Mann reports
QMC UPDATE ON WORK PROGRAM AT IRGON LITHIUM MINE
QMC Quantum Minerals Corp. is providing an update on the company's continuing exploration program on their Irgon mine lithium project located at Cat Lake in Manitoba. With the required permits now in place, crew and heavy equipment have moved on site and are currently removing the merchantable timber from above the dike. Crews have also begun to strip the overburden off the spodumene-bearing pegmatitic dike to expose the entire 400-metre strike length of the Irgon dike. Overburden stripping and subsequent drill programs are also expected to extend the known strike length of this dike.
The overburden stripping will facilitate the continuing channel sampling program as the on-site crew has begun to cut channel samples across the dike, initially at 100-metre intervals. However, if the current weather holds, this sampling across the exposed dike will be tightened to 50-metre, and subsequently to 25-metre, intervals over the entire dike once the surface of the dike has been exposed.
To date, four channels have been cut across the dike which have been sampled on one-metre intervals. The resulting 53 samples are being sent to SGS labs in Lakefield, Ont., for combined ICP-AES and ICP-MS analysis of 56 elements. Geologic mapping of the dike has also been initiated.
This continuing sampling program at intervals across the dike, along the entire strike length of the dike, is expected to confirm previous grab sampling, trenching and drilling results that are published in the historical record.
Between 1953 and 1954, 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 per cent Li2O (lithium oxide) over a strike length of 365 metres and to a depth of 213 metres (Northern Miner, Volume 41, No. 19, Aug. 4, 1955, page 3). This historical resource is documented in a 1956 assessment report by Bruce Ballantyne for the Lithium Corporation of Canada (Manitoba assessment report No. 94932). This historical estimate is believed to be based on reasonable assumptions and the company/qualified person (QP) has no reason to contest the document's relevance and reliability. A detailed drill program will be required to update this historical resource to current National Instrument 43-101 standards. Historic metallurgical tests reported a recovery of 87 per cent 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, in addition, 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 six crosscuts transected the dike. The work was suspended in 1957, awaiting a more favourable market for lithium oxides, and, at this point, the mine buildings were removed.
DearJohn created the topic: Quantum Minerals TSXV:QMC OTC:QMCQF
Thought I would start a topic here, another pick of Ron's that has doubled so lets see why. Basically it is an undervalued Lithium play that is not well known yet.
Their project is the old Irgon Mine Lithium Project –
• The Irgon Mine Lithium Property hosts several rare-metal bearing (Li, Be, (+/-Ta, +/-Cs)) pegmatites, and is located immediately north of Cat Lake Manitoba.
• Substantial developmental work carried out by the former property owners – The Lithium Corporation of Canada Ltd.
• Deposit contains an estimated resource of more than 1.2M tons of spodumene-bearing pegmatite grading 1.5% Li20.
• Total area covered by the 4 claims is 700 hectares. Access to the property is excellent as Provincial Highway 314 in southeast Manitoba transects the claims, approximately 150km northeast of Winnipeg
• Project located just 20km north of the nearby Tanco Mine at Bernic Lake
The Cat Lake project covers the former Irgon Mine and several known pegmatite dikes of which currently the largest and best exposed is the spodumene-bearing Irgon Dike. This dike is well exposed on a glaciated surface and strikes N80°W with a dip of 87°S. It currently has a total exposed strike length of 442 meters and displays widths varying between 3 to 18 meters, with an average width of approximately 7 meters.
Between 1953-1954 the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and 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.