QMC Quantum Receives Permits For Trenching And Diamond Core
Drilling, Mugaha Gold Property, Mackenzie, British Columbia
http://tmx.quotemedia.com/article.php?newsid=51181811&qm_sym…
- systematic follow-up trenching to extend and define gold zones
discovered in the 2006 hand trenching program with values of
139.1g/t over 1 metre and to test other significant soil anomalies
with up to 3,670 ppb Gold
- 2000 metre drilling program planned to delineate the zones to
depth.
Vancouver, May 10, 2012 - Further to the press release dated March
19, 2012, QMC Quantum Minerals Corp. (TSXV: QMC) ("QMC" or the
"Company") is pleased to announce that the company has received
permits from the British Columbia Ministry of Energy and Mines for
a helicopter-supported systematic trenching, sampling and diamond
drilling program on the Mugaha Gold Property (the 'Property')
located 15 kilometres north of the town of Mackenzie, British
Columbia. QMC recently entered into an option agreement with
Mackenzie Minerals Ltd. whereby it has the exclusive right to
acquire an undivided 100% right, title and interest in the Mugaha
Property.
The trenching will be carried out with 2 portable small
mini-backhoes (CANDIG model 21) and will cover the 25 gold-in-soil
anomalies to define the bed-rock source. The uniqueness of this
back-hoe is its minimal impact for land disturbance and timely
reclamation. Contingenton the results, the trenching will be
followed-up with a diamond core drilling program. The drilling
program will be comprised of short 100 metre drill holes totalling
2000 metres.
Gold mineralization was discovered on the property in 2006 by
Wealth Minerals after several years of extensive exploration by
geological mapping, prospecting and geochemical surveys.
Hand trenching outlined a number of mineralized quartz veins and
veinlets in sheared and faulted slate and siltstone. Several veins
and veinlets were outlined and could be traced intermittently for
about 120 meters along strike and remain open in both directions.
Gold values are highly erratic and metallic screening analyses
indicate that a significant amount of the values occur as free
gold. Mineralized veins are generally sheared and highly fractured
and contain sporadic pyrite and base metal sulfides. Eight of 13
trenches cut mineralized quartz veins and values ranged from less
that 1 g/t gold over 1.0 meter to a maximum of 139.1 g/t gold over
1.0 meter. Other significant values obtained in the trenching are
2.97 g/t, 4.19 g/t, 3.11 g/t, 6.94 g/t and 14.81 g/t over 1.0 meter
widths respectively and grab samples assaying up to111.71 g/t and
22.81 g/t from six trenches.
The property is underlain by weakly metamorphosed and complexly
deformed rocks of the Upper Proterozoic Misinchinka Group. The
Misinchinka Group consists of a thick monotonous sequence of
siliciclastic and lesser carbonate rocks of turbidite affinity
deposited on the western margin of ancestral North America.
The mode of occurrence the Mugaha property mineralization appears
to be very similar to the sedimentary hosted mineralized gold
deposits such as; Muruntau, Uzbekistan +100 million oz; Sukhoy Log,
Russia - 20 million oz.; Bendigo-Ballarat district, Australia - 20
million oz; Macraes Flat, Otago Schist Belt, New Zealand - 5.2
million oz..
The technical content of this news release has been reviewed and
approved by James M. Dawson, P. Eng who is a qualified person as
defined by National Instrument 43-101. Mr. Dawson will also be
guiding and managing the work program.
The Company is a British Columbia based company engaged in the
business of acquisition, exploration and development of mineral
properties in Canada. Its objective is to locate and develop
economic precious, base metals and REE properties of merit. In
addition to the Mugaha gold project, QMC is actively exploring the
potential of the Rocky Lake massive sulphide and the Cinder Lake
REE projects in Manitoba.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
"Balraj Mann"