Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2013) - QMC Quantum Minerals Corp. (TSX VENTURE:QMC)(PINKSHEETS:QMCQF)(FRANKFURT:3LQ) ("QMC" or the "Company") is pleased to announce plans for a comprehensive work program including 6,000 metres of diamond drilling and refined geophysics on the Company's 100% owned Namew Lake Volcanogenic Massive Sulphide (VMS) Project, previously referred to as the Rocky Lake VMS Project.
Located within the Flin Flon Mining District in northwestern Manitoba, the 39,236 hectare Namew Lake VMS Project is adjacent to the eastern side of Hudbay Minerals' (HBM-TSX) Namew Lake Mine which produced 2.57 million tonnes of Copper, Nickel, Gold, Silver, Palladium, and Platinum. The Flin Flon mining district (including the Snow Lake deposits) comprises one of the largest VMS districts in the world with more than 118.7 million tonnes of sulphide ore mined from 25 deposits by the mid 1990's, with an additional 64.3 million tonnes of mineralized rock defined in 43 sub-economic deposits.
The Company's Rocky Lake VMS property was first discovered by Hudbay through an airborne survey that identified a 5 kilometre long conductor, followed up with ground EM surveys that verified a 1,500 metre conductive corridor. A subsequent airborne survey commissioned by QMC identified a total of 41 conductors using the VTEM+ system. The successful 9-hole drill campaign during the 2012 exploration season resulted in visible chalcopyrite at the end of hole RL11-2 for confirmation that the deep-seated conductor had been missed by the prior Hudbay programs. Core drillings on the properties to date have yielded significant intercepts including 0.65% Copper over 9.0 metres and grading up to 3.0% Copper in drill core.
For the 2013-2014 exploration season, the Company plans to complete a two phase work program to further investigate the Namew Lake VMS Project as an economic mineral resource, recommended by Garth Kirkham (P.Geoph. P.Geo.) in the 43-101 report completed and filed in May 2013. This extensive exploration program includes 2,500 metres of diamond drilling in phase one and 3,500 metres in phase two; a program with specific focus on the potential high grade massive sulphide formation in addition to drilling on select conductors from the 41 geophysics targets and will include the detailing and refining of current drill targets using the TITAN24 system.
QMC Quantum Minerals CEO, Balraj Mann states, "Our Namew Lake VMS Project is located in the Flin Flon Greenstone Belt of northwestern Manitoba which is host to nine operating mines and is recognized as a world class VMS district. Following our recent success in drilling of the Rocky Lake VMS property within our Namew Lake Project, we are looking forward to the 2013 exploration program and will continue to develop our district scale project into an economic mineral resource."
The technical and scientific information in this news release has been reviewed and approved by Mohan R. Vulimiri, M.Sc., P.Geo, who is a qualified person under the NI 43-101 guidelines and a Director of the Company.
About Quantum Minerals Corp.
QMC Quantum Minerals Corp. is a junior mineral exploration company focused on finding and developing VMS style Ni-Cu-Zn-Au prospects in Manitoba, Canada. QMC management's extensive experience in the field of mineral exploration and development give it a competitive advantage in discovering, appraising and advancing mineral deposits. 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 overall shareholder value.
| On behalf of the Board of Directors |
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| Balraj Mann |
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| CEO, President & Director |
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Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. QMC cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond QMC's control. Such factors include, among other things: risks and uncertainties relating to QMC's ability to complete proposed private placement financing. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, QMC undertakes no obligation to publicly update or revise forward-looking information.
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