(via Thenewswire.ca)
-up to 3,670 ppb Gold in soil samples, several prominent gold anomalies were delineated
-139.1 g/t gold over 1 metre by hand trenching of one of the anomalies
Vancouver, March 19, 2012 - Further to the press release dated February 23, 2012, QMC Quantum Minerals Corp. (TSXV: QMC) (Frankfurt: 3LQ) ("QMC" or the "Company") is pleased to announce that the company filed permit applications to the British Columbia Ministry of Energy and Mines for 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 Mugaha property consists of 12 MTO claims aggregating 5,502 hectares. Access and infrastructure are good with the western part of the property being road accessible. The town of Mackenzie has most services including an airport and contract helicopter services. The property is heavily forested except for a few logged areas. Topography is moderate and exploration work can be carried out between May and October.
Gold mineralization was discovered on the property in 2006 after several years of extensive exploration. Outcrop is sparse and mineralization was exposed in outcrop only by hand trenching of gold-in-soil anomalies.
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.
During the years 2003 to 2006, extensive geochemical surveys outlined 25 gold-in-soil anomalies over an area of 7 kilometres by 4 kilometres southeast of Mugaha Creek. The anomaly trends appear to coincide with phyllites and siltstone units. . Soil samples within these anomalies returned values in the range of 100 to 500 ppb gold. The highest value obtained in the soil sample is 3,670 ppb gold.
One of these anomalies was investigated by hand trenching and outlined a number of narrow, mineralized quartz veins in sheared and faulted slate and siltstone. At least 3 to 5 veins 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. Thirteen separate sample intervals contained values of greater than one g/t over one meter. Trench 5 contained a total of 5 separate mineralized veins averaging 1 meter wide over a total width of 15 meters.
The permit applications include proposed diamond drilling of the above area, trenching and systematic sampling of the other geochemical soil anomalies followed by scout diamond drilling to further delineate the targets.
The mode of occurrence of the Mugaha property mineralization appears to be very similar to the sediment hosted vein deposit model examples of which include; Muruntau, Uzbekistan - 80 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.
Other News:
QMC has granted options to purchase a total of 1.3 million common shares under the Company's stock option plan to certain arms length and non arms length parties. The granted options have an exercise price of 25 cents per share and expire on March 19, 2017.
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
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.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
"Balraj Mann"
Balraj Mann
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
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