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Q2 Metals Corp. (TSX-V: QTWO)(OTC: QUEXF) CEO Alicia Milne on Pending Assays at Flagship Cisco Project & Current Financing
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of one of my favorite lithium plays, and yes, I am biased because I'm a shareholder, Q2 Metals, Ms. Alicia Milne. Alicia, it's great to have you back on, how have you been? It's been a bit.
Alicia Milne: It's been a bit, yeah, it's great to be here and I'm glad to hear I'm one of your favorites or were one of your favorites.
Gerardo Del Real: Absolutely. No doubt about it. I've been very open to subscribers and to listeners and readers and I think Q2 is definitely, definitely going to be a second half of 2024 story. I wanted to have you on and talk a little bit about Cisco and the recent financing. I know we talked a bit off air and I was congratulating you because I know how excited the team is about the project, so maybe we start there.
Alicia Milne: Yeah, for sure. Cisco is proving up to be a great project. We just finished off our spring drill program, so we did 12 holes, about 3,500 meters, and it's been good. We continue to intersect mineralize pegmatite, so currently we're at a strike length of about 750 meters and it's open in all directions, so we're pretty excited. We had our mapping and sampling going on at the same time, and that's been going really good. The assays confirmed that there's eight more new zones, so there's a total of 15 zones and it's just in that one area as well. We haven't even branched out to explore the rest of the entire property package, so it's looking good and we're really excited. We have assays pending about eight holes right now, and there's the last four that we just finished drilling, so those are currently being logged and cut, and they're going to be sent off later on this week. After we close this financing, there's going to be assays coming out and we're gearing up for the next part of our drill program.
Gerardo Del Real: Let's talk about the financing. You announced a seven and a half million dollar private placement. I had a great conversation with VP of Exploration, Neil McCallum, who couldn't be more thrilled to have a robust treasury to really go after Cisco and see what's there. I know that for myself when I look at Cisco, what really excites me is we have some historic assays and we know that the grade on the property is excellent thus far, but the scale of Cisco is really impressive to me. You touched on it a bit with the 15 zones and the fact that that's just on the part of the property that you've been able to get to is exciting to me, but walk me through the financing. Where is it going to go? How are those dollars going to be used?
Alicia Milne: On the corporate side of Q2, we run pretty lean. All of the directors, we're all excited, we're all involved in the company. We're pretty much our biggest promoters, so of that financing, $5 million of that is in a charity flow through, and that was interest from some of our key investors that have been with us for the last almost two years. They're participating in that and then we're just going to round it out with a little bit of hard dollars, which even if we spend hard dollars in the ground in Quebec, we still get some money back on that too. We're excited to move forward, and this will get Neil another 10 to 12,000 meters in the ground between now and I would assume next winter. All depends on the weather in the area and how long we can actually drill for.
Gerardo Del Real: Well, I know the team is excited. I'm excited as a shareholder. You have to be thrilled to finally have a project and look, let's be honest, right? You had a flagship that is to me a great project, right, in Mia, just didn't have this kind of scale and didn't have frankly this kind of grade over such a wide distance and I got to believe that you're looking to do something there. Are you receptive to potentially joint venturing that out or vending that out?
Alicia Milne: Yeah, definitely. I mean, Mia is not dead in the water by any means. It's just going to take a lot more work to prove it up. I mean, there is spodumene pegmatite there. It's just a matter of being a huge drill program to find it and to find where the source is coming from. It's always an option. For now though, we've done enough work on it that it's going to be in good standing for the next couple years, so who knows what'll happen,
Gerardo Del Real: You'll be cashed up, you have assays pending. You're hitting a whole heck of a lot of lithium spodumene. I can't wait for the assays. Anything else to add to that, Alicia?
Alicia Milne: No, it's been an exciting month and a half. We have to stop every once in a while and remind ourselves we only just got there and the fact that we are getting the results that we're getting so soon and projective, there's still so much potential to it. We're excited to move forward and complete this financing and get back out there and get drilling again.
Gerardo Del Real: Before I let you go, can I ask you how is the support on the local level and with government? I know that James Bay obviously, and Quebec in general is being looked at as the next big battery metals hub, right? There is a whole supply chain that's going to be built out there. Obviously, Corvette with Patriot Battery Metals is leading the way on the exploration side, but how has the support been and how are your interactions with government officials and local stakeholders?
Alicia Milne: For sure. Well, I mean, it's still early days. We haven't had too much interaction with the local area government, but on the other side of things, like in the charity flow through financing, there's interest from the Quebec investment funds. They're very much interested in assisting junior companies with financing to get them going to put money in the ground, essentially in their backyard, and to put their citizens to work. It's a net benefit to them and it's a benefit to us. They've been great to deal with so far, so looking forward to seeing where this all goes.
Gerardo Del Real: Well, exciting times. Can't wait for the second half of the year. Can't wait for the assays once the financing closes. Thank you so much for coming on.
Alicia Milne: For sure. Thanks for having me, Gerardo.
Gerardo Del Real: All right. Chat again soon. Cheers.
Alicia Milne: Cheers.
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