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Hunting for Elephants in Manitoba

July 5, 2012 by · Leave a Comment 

ANALYSIS——When hunting for elephants, you have to head to elephant country. This is exactly what’s on the minds of the junior, mid-tier and major miners who have taken root in Manitoba. The elephants they are looking for are Volcanogenic Massive Sulphide (VMS) deposits, which hold riches in the minerals of copper, zinc and lead. And with one of the largest VMS districts in the world located in this inner province, these miners are definitely in the right location.

Manitoba, home to 9 operating mines, has emerged as one of Canada’s most productive mining regions. The Flin Flon Snow Lake Greenstone Belt alone is home to three copper-zinc mines, all operated by Hudbay Minerals (TSX: HBM). And with many juniors looking to prove the next big deposit, one that has kept our attention even in the slow summer months is Quantum Minerals Corp. (TSX: QMC).

QMC, who we’ve featured before, is one of the largest landholders in all of Manitoba with two projects in the renowned Flin Flon district. Their current focus, the Rocky Lake Project, was acquired from Flin Flon producer Hudbay Minerals. Hudbay had been exploring for a VMS deposit but missed, allowing QMC management to snatch the promising property.  With encouraging drill results released last month it appears that QMC found what Hudbay couldn’t – a deposit.

QMC’s latest press release reported that massive sulphide mineralization with visible chalcopyrite was confirmed on the main target. With only 5 of 28 targets drilled, this property could hold a lot more. Notably, the property is economically viable and could potentially host a mine: there is infrastructure in place, a smelter only 65 km away and an existing labour pool.

Not one to leave all its eggs in one basket, the company also owns a Rare Earth Elements (REE) project in central Manitoba and recently acquired a gold property in BC to diversify its landholdings.

Of the many juniors searching for deposits in Manitoba, QMC possesses several ingredients required for success: strong management, promising drill results and an extensive land package. These attributes give QMC a considerable advantage in the Flin Flon district, which is the largest

Paleoproterozoic VMS district in the world, hosting three producing mines. As mineral hunting grounds go, it’s a great place to find elephants—and an intriguing location for juniors like QMC to set up camp.


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