- Lithium is a key component in green energy storage technologies, including the batteries used in electric cars
- Significant spodumene-bearing pegmatite is located on the Irgon lithium mine project
- The global lithium-ion battery market is expected to exceed $60 billion by 2024
Global lithium market demand has been making headlines recently as industry leaders and governments shift away from fossil fuels. Most consumers are familiar with rechargeable lithium-ion batteries, which make it possible to power vehicles from renewable sources of energy. It’s a topic in which Canadian-based mineral explorer QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ) is fully immersed, as its team of experts continues to develop a NI 43-101-compliant resource estimate for commercial production of lithium at its Irgon lithium mine project in southeastern Manitoba. Excellent access to well-developed mining infrastructure at the company’s wholly owned Irgon lithium mine project offers significant value and aids the company in ramping up the near-term production schedule (http://ibn.fm/hd7tW).
QMC recently completed an 18-hole, 2,300-meter diamond drill program on the Irgon Dike. The core was split with samples subsequently shipped to SGS Canada’s Lakefield laboratory for assay of lithium, beryllium, rubidium, cesium, tantalum, niobium and 50 other elements (http://ibn.fm/emwDe).
QMC also recently reported that assays of surface chip samples from its Mapetre, Central and Irgon West Dikes, also located within the Irgon lithium mine project, indicated significant occurrences of spodumene-bearing pegmatite mineralization (http://ibn.fm/DumIv). The Best result from these assays, from the Irgon West Dike, returned a very impressive 2.79 percent Li2O over seven meters
“An exploration program consisting of overburden stripping and channel sampling of the mineralized dikes is being planned for the upcoming field season to fully define the width, strike length and lithium grade of these dikes,” President and CEO Balraj Mann stated in an April 24 news release (http://ibn.fm/jonak).
A recent report by Global Market Insights projects that the global lithium ion battery market will surpass $60 billion by 2024 as the growing adoption of electric vehicles, coupled with government initiatives to promote sustainable, green technology, boosts the lithium sector (http://ibn.fm/ogj05). An increase in demand for smart devices, which also depend on lithium-ion batteries, is another factor in the market’s upward growth, according to the report summary.
QMC’s holdings not only include title to the Irgon lithium mine project; the company is also the owner of two volcanic massive sulphide (“VMS”) properties – the Rocky Lake and Rocky-Namew properties, known collectively as the Namew Lake District Project. The Namew Lake District Project has strong potential to host a major copper, nickel, gold, silver, palladium and platinum deposit. This project, located in northwestern Manitoba, encompasses 57,000 acres. It is situated within the Flin Flon/Snow Lake VMS mining district, one of the world’s most productive base metal, VMS mining areas (http://ibn.fm/1L873).
For more information, visit the company’s website at www.QMCMinerals.com
NOTE TO INVESTORS: The latest news and updates relating to QMCQF are available in the company’s newsroom at http://ibn.fm/QMCQF