- International efforts to reduce global pollutants continue to fuel expectations for energy-efficient lithium products
- QMC Quantum Minerals upgrading historical assays of its Manitoba properties’ lithium resources
- Global lithium market forecasts predict a 9.33 percent CAGR through 2023
QMC Quantum Minerals Corp. (TSX.V: QMC) (FSE: 3LQ) (OTC: QMCQF) hopes to help awaken a sleeping mineral giant in southern Canada’s lakes region amid the international focus on reducing the pollutants in fossil fuel emissions. In recent months, the natural resource exploration and development company has been increasing its holdings and accelerating the analysis of lithium mineralization in the province’s bountiful Cat Lake-Winnipeg River Pegmatite Field as it searches for commercially marketable products.
Lithium and its modern-tech battery companion cobalt have been enjoying renewed interest as countries from China (http://nnw.fm/yY6Tv) to Britain (http://nnw.fm/dZs8C), as well as the United States (http://nnw.fm/UbZP1), push to reduce the petroleum-based pollution emitted by internal combustion engines. India’s Space Research Organization’s (ISRO) Vikram Sarabhai Space Centre (VSSC) has attracted the interest of some 130 companies with its automotive and space industry-friendly development of an already-tested lithium-ion battery that is expected to add impetus to the zero emissions movement (http://nnw.fm/d1UDM). Not only passenger cars, but commercial vehicles are also beginning to get onboard with the emissions-reducing efforts, as exemplified by Chinese automobile manufacturer BYD’s expansion of its North American fleet from electric-powered buses and trucks to Class 6 step vans with 221 kWh batteries for consumer product deliveries (http://nnw.fm/Q61lf).
Because anticipated demand for the metals exceeds the currently available supply, commodity prices have seen big jumps in recent years, and automobile manufacturers have tried to shore up their production strategies by locking in long-term resource contracts for the highly efficient, high energy density batteries. Market analyst Mordor Intelligence predicts that the global lithium market will grow with a 9.33 percent CAGR until 2023 (http://nnw.fm/96nE5).
The historical exploration of lithium in Manitoba, including ongoing productivity from the world-class Tanco lithium-cesium-tantalum deposit about 12 miles from QMC’s flagship Irgon Lithium Mine property and regionally accessible Namew Lake District VMS properties to the north, is leading Manitoba to anticipate a possible revitalization of its mining industry and ancillary businesses (http://nnw.fm/D1y0G). The province’s mining and petroleum industries comprise the second-largest primary resource industry of its economy, according to the government (http://nnw.fm/8nV9l).
QMC’s preference for hard rock mining is focused on a 60-year-old production field where 22 adjoining mineral claims encompass 11,325 acres north of Winnipeg. The company has been involved in proving up historical assays of 1.2 million tons of lithium oxide-bearing pegmatite graded at 1.51 percent Li2O so that the reporting will meet modern NI 43-101 regulatory standards.
Recent 3D modeling of the site led the company to determine that exploration and development at the site has only occurred on a portion of the Irgon Dike, leading to expectations that there may be more untapped tonnage available. Because the dike is open along strike and depth, the company expects to increase the historical reported resource.
“Ultimately, we think our NI 43-101 will establish much more than the 1.2 million tons of 1.5 percent lithium oxide along the strike of the dike that the old survey estimated,” the company’s website states.
For more information, visit the company’s website at www.QMCMinerals.com
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