November 3, 2020 Vancouver, British Columbia: QMC Quantum Minerals Corp., (TSX.V: QMC) (FSE: 3LQ) (OTC PINK: QMCQF) (“QMC” or “the Company”) begins developing a proposed work program for its Namew Lake District volcanic massive sulphide (“VMS”) property in Manitoba.
Highlights
- World-class Flin Flon-Snow Lake mining region, host to 11 mines including Hudbay Minerals Inc.’s (“HBM”) new deposit, the Lalor Mine
- 41 strong geophysical targets identified, the largest one being 1.5km long
- District scale project with similar geology to the nearby HudBay’s Lalor (27.1Mt) and 777 (21.9Mt) mines
The Company will focus the upcoming exploration program on testing the stronger of 41 geophysical targets currently identified on the property. Twenty-two of these targets have been classified by Garth Kirkham, P. Geo (2013) as priority targets with potential to host deposit-scale VMS mineralization. This NI43-101 report is available on SEDAR. To date, positive results of limited drilling collared on the property have suggested that existing geophysical surveys are an excellent exploration indicator of subsurface sulphide mineralization.
QMC has previously drilled one of these targets, on the 1,500m long conductor and intersected mineralization at the top of the conductor. Two drill holes (RL 12-5 and RL 11-2) intersected significant visible chalcopyrite mineralization (Figure 1). Drill hole RL 12-5 cut a 10m thick, semi-massive sulphide intersection grading 0.48% Cu (including 0.80% Cu over 1m). Drill hole RL 11-2 was terminated in massive sulphide at a vertical depth of 193 metres. Assays returned grades of 0.26% copper over a 0.3m wide, semi-massive sulphide intersection which contained approximately 20% iron sulphides. Further, deeper drilling may develop a larger zone of additional significant VMS mineralization. The Company postulates that the top conductor intersected by drilling may be the top of the first lens alternating between copper and gold much like the Lalor Mine which has similar geology.
At the Lalor Mine, and typically all VMS deposits, mineralization forms as concordant lenses of massive to semi-massive sulphide mineralization. Over time these systems can have several periods of sulphide accumulation forming several localized lenses of mineralization. This accumulation of several distinct base metal and gold rich lenses has been identified at the Lalor Mine. Identification of these favourable horizons can provide a significant pathfinder to additional mineralized zones within the property and may also guide discovery of new zones of mineralization regionally.
Characteristically, VMS deposits have a very predictable positioning of the metals, both horizontally and vertically within the deposit. Gold concentrations generally are elevated in the central copper-rich zones. These are typically copper +/- gold rich zones in or adjacent to hydrothermally altered zones that develop within fractures. Generally iron sulphides (pyrite and pyrrhotite) occur with the base metal sulphides.
Qualified Person
The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo., 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 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
604-601-2018
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