Q2 Metals Corp. (TSX-V: QTWO)(OTC: QUEXF) VPE Neil McCallum on Collaring First Hole at Flagship Cisco Property


Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me once again is the VP of Exploration for Q2 Metals, Mr. Neil McCallum. Neil, I am excited to have you on here. I'll explain why in a second, but first and foremost, how are you today, sir?

Neil McCallum: I'm doing great, thanks.

Gerardo Del Real: Well, let's get right into it. I'm excited to have you on here because you're either still at the Cisco project or just returning from the Cisco project. So I saw the news here recently where you went ahead and collared your first drill hole. This was roughly give or take, four or five days ago. Had to reach out, wanted to get your take on what you're seeing in the field, what it was like to be at the project, and then let's talk about that first hole and maybe what comes next? But first things first, how was your trip?

Neil McCallum: Yeah, that's right. I just got back last night from setting off the field crews and making sure that we're starting things right, and we had a few tours of the existing outcrops that the property vendor had visited and sampled. So we've got a really good understanding now that we didn't have a few months ago. So we are mapping outcrops fairly orderly one at a time, and things are looking great. We'll be putting news out soon about some new ones that we found, existing ones that they had found before, and the scale of each one of those, because all we had before to tell us was just one sample, maybe two samples at each outcrop, but now we kind of have a sense of scale on each one. So we have a lot more information, and we're very excited to put that together into a news release format for everybody to take a look at.

Gerardo Del Real: I'm looking forward to that. You said outcrops plural, and I think that's important to go ahead and set the table. You're dealing with a big system here. So again, for people that aren't familiar with the project and what the prior vendors did and now what you're looking to advance, can you give some context on that, Neil and then what you hope to share with the market soon?

Neil McCallum: Yeah, for sure. So I think that it bears a little bit of a comparison with Mia in terms of what the actual outcrops look like. At Mia, we have a 10 kilometer ridge where you can easily look at those pegmatites from the satellite photo and know exactly roughly where you stand. And we went on the ground, we mapped some of them, but what we're looking at at Cisco, it's a lot of vegetation and then these little islands of outcrop with nothing but overburden and vegetation in between each little island of outcrop. So where we do have these outcrops, they're quite large. We're talking roughly 100 meters strike length of continuous spodumene bearing pegmatite by about 20 to 30 meters wide. So that is quite substantial. That's quite a bit larger than each individual occurrence over the Mia project.

So already we're starting off on quite a bit of a better footing, not to mention the property vendors had de-risked the project by drilling them out, and we know that there's significant beneath the surface too. So our job is going to be just how far do these pegmatites extend beneath the surface, and how many individual of those little islands of outcrops, how far do they connect? Are they their own little mineralized zone beneath surface? That's our job now, and that's the fun part of exploration that really makes things exciting.

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Gerardo Del Real: How is the infrastructure to and from the project? What did that look like?

Neil McCallum: Yeah, for sure. That's worth mentioning as well. I drove up to the camp directly from Ottawa and was able to get right to our camp with no problems. The camp is about 10 kilometers off the highway, and our project is about the same. We don't have any existing roads to the project itself, even though it's relatively close. There is a historical forestry cut blocks just south of the project, and that's what our camp had actually helped support previously. So we literally just rolled into camp, set up our core shack in an old kitchen, and we were off to the races the next day basically. So having it so close to the nearest community of Matagami, it's about a one-hour drive from the nearest community. So infrastructure wise, it's probably going to be one of the nearest to any community, but also far enough away that it's not going to interfere with too much existing land use. So it's kind of in that sweet spot, I'd say.

Gerardo Del Real: Excellent, excellent. You mentioned community. How is community support for the project?

Neil McCallum: Yeah, I mean it's within the James Bay region, and so far what we've seen is nothing but positive feedback. We are going to be doing some more community involvement. But like I said, generally speaking, everything in the James Bay has been positive. Once we get to that next level of drilling out a zone, then we're going to have more detailed conversations.

Gerardo Del Real: Excellent. Last but not least, how much drilling are you hoping to accomplish during this season?

Neil McCallum: This season? Yeah, we've made really good progress so far, and that will kind of be dictated on partially financing. We're doing well for cash, so we can keep going, but I think we have a lot of targets now to drill test, and really I can see us drilling those targets for quite a while, so things are going to go very smoothly as long as the fires stay away. And to that point, it's been a really wet season so far, so fingers crossed we're not affected by that. And if we do, I'm feeling optimistic about our particular area just because of the forestry inventory. I think that they're going to be focusing on keeping that fire free compared to the northern regions of James Bay where there isn't any timber that's merchantable. So I think we're in a good spot for the summer. I'm looking forward to it.

Gerardo Del Real: Wow. It sounds like you have a whole heck of a lot more clarity on targets, follow up targets, potential scale. I can't wait to see what continuity and grade looks like. We already know from the historical assays, or at least have a very good indication of what the grade is likely to be. That is phenomenal. You're close to infrastructure. If you find a deposit or deposits of significance, that doesn't look like an impossible task to build out. So it's looking like it's going to be a fun 2024. I know we had a lull in the stock here a few months back, but it looks like you have a whole heck of a lot of momentum, Neil.

Neil McCallum: Yeah, that's right. I mean, we had a good amount of momentum right after the property deal. It got people's attention, and then we had to wait until our work program started. So now that we can put out news about additional findings of the project, I think that there's going to be a lot of excitement going forward. So I'd say now is a perfect time for people to look into it.

Gerardo Del Real: Excellent, biased, happy shareholder here. Really excited to see an appreciating share price, hopefully with some positive news, and hopefully soon. Thanks again, Neil.

Neil McCallum: Yep, you bet. Anytime.

Gerardo Del Real: Chat soon. Cheers.

Neil McCallum: Yep. Bye.

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