Hoss replied the topic: Quantum Minerals TSXV:QMC OTC:QMCQF
GB, daily cloud chart is negative, broken down below green cloud Coversion line crossed below red base line. Probably going to 75 as you suggest, worst case maybe 40. Resistance is now at $0.96 and $1.08. Needs a strong reversal soon or likely headed lower
GoldnBoy replied the topic: Quantum Minerals TSXV:QMC OTC:QMCQF
2017-12-04 10:21 ET - News Release
Mr. Balraj Mann reports
QMC ANNOUNCES OVER 100 SAMPLES SENT TO SGS FOR LITHIUM ANALYSIS
With the continuing work program at QMC Quantum Minerals Corp.'s Irgon lithium mine property progressing, QMC has now submitted to SGS Labs in Lakefield, Ont., 104 sawn channel samples for analysis. To date, a total length of 90.1 meters (296 feet) of channel sampling has been completed from six sawn channels cut across the width of the Irgon Dike.
In conjunction with this exploration program on the company's Irgon Lithium Mine Project, located within the world class Winnipeg River Pegmatite Field of South-Eastern Manitoba, QMC field crews continue to remove the overburden that has concealed the pegmatite exposure along the strike of the spodumene-bearing Irgon Dike. In addition, the program of channel sampling along the newly exposed strike of the Irgon Dike continues.
As the exposure along the Irgon Dike is increased by this overburden stripping program, geologic mapping of the dike also continues.
Requested geochemical analysis of the 104 channel samples currently delivered to, and received by SGS Labs in Lakefield, Ontario consists of ICP-AES and ICP MS scans for 56 elements including Li, Ta, Nb, Cs, Rb and Be; all elements which may potentially be found within the Winnipeg River area rare element-bearing pegmatites. All geochemical results remain pending.
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% Li2O 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 have any reason to contest the document's relevance and reliability. The ongoing 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 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 meters. On the 61 meter level, lateral development was extended off the shaft for a total of 366 meters 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 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 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 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.