- Flagship Irgon Lithium Mine Project recently identified additional significant spodumene mineralization
- Global lithium-ion battery market forecast to reach $71 billion by 2025
- Worldwide sales of EVs expected to almost quadruple to 4.5 million units by 2020
An undeniable opportunity exists when referring to the Irgon Lithium Mine Project, wholly owned by Vancouver-based QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ). As part of QMC’s ongoing exploration and development of the Irgon Project, located in southern Manitoba’s bountiful Cat Lake-Winnipeg River Pegmatite Field (http://nnw.fm/FIq1Z), the company’s geotechnical field crews recently identified additional significant spodumene mineralization. This discovery is a significant one, since spodumene mineralization is known as being the primary source of hard-rock lithium. Pegmatites hosting spodumene mineralization may contain large amounts of lithium and, in addition, can host other rare-element-bearing minerals (http://nnw.fm/FIq1Z).
Lithium is the main ingredient in the lithium-ion batteries used for energy storage and power provisioning. The global appetite for electric vehicles and the rise of modern devices that rely on lithium-ion batteries are expected to drive the lithium-ion battery market to reach $71 billion by 2025, according to a report by Research and Markets (http://nnw.fm/FaIS6). Almost all computer electronics, smartphones, tablets and other consumer electronic devices are powered by the lithium-ion battery; however, an article in Bloomberg states (http://nnw.fm/Prpe9) that it is the electric/hybrid vehicle market that is projected to require massive amounts of lithium. “Benchmark Minerals Intelligence, a research and data firm, projects demand to rise from about 220,000 tonnes of lithium-carbonate equivalent last year to more than 900,000 in 2025 and around 2 million by the early 2030s,” the article reads.
QMC has invested two years exploring the potential of the Irgon Lithium Mine Property and is working toward updating the historic 1950s resource estimate (1.2 MT at 1.51 percent Li2O). Channel sampling on the Irgon Dike returned results of 1.73 percent lithium-oxide over 14 meters (45.9 feet), which are higher than the historical numbers. Sampling elsewhere on additional targets in the area has produced concentrations of over 1.90 percent lithium-oxide and one that returned 2.62 percent (http://nnw.fm/N6DOi).
Hard rock mining of spodumene as a source for lithium has distinct advantages over reaping elemental lithium from brines, since only highly concentrated brines produce lithium economically and the process to extract the lithium is glacial. The company states (http://nnw.fm/4Cx79) that once the initial exploration phase has been completed on hard rock lithium pegmatites, such as at its Irgon Project, hard rock pegmatite deposits are faster to mine and production is more reliable. QMC is nearing the final stage of this exploration phase and approaching the point at which an updated NI 43-101 can be filed, which will likely lead the company closer to its goal of actively mining the Irgon Lithium Mine Property.
For more information, visit the company’s website at www.QMCMinerals.com
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