Categories: Energy
Topics: Lithium Stocks

Q2 Metals (TSX-V: QTWO)(OTC: QUEXF) VP Exploration Neil McCallum on Pioneering Lithium Exploration in the Redhot James Bay Region of Quebec, Canada

 

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, interesting times. How are you today, sir?

Neil McCallum: Really good, thanks. 

Gerardo Del Real: Well, let's get right into it. The first question that I know is on every shareholder's mind, including mine, is how are things in the field?

I know that the company waited all winter, crunched a lot of data, and was chomping at the bit to get in the field. You did so for a few days. We'll talk about some of the exciting results that came out of that. But obviously, there was a work stoppage just for safety reasons due to the fires in the region.

Can you provide us with just a brief update there and how ready the team is to go once you get the green light?

Neil McCallum: Absolutely. We're paying attention very closely to the situation. And it's completely weather dependent on how things get better. Just waiting for the rain to come. 

We have everything in line to get back up there. The camp is on standby. We've got crews that are ready to go for the geology team. We're keeping them busy. But they're ready to go pretty well when things are lifted. We've got the helicopter contract and drilling contractors just ready to go. So as soon as we get that green light, we're going to be back up there.

Gerardo Del Real: Well, let's get right into it. Obviously Patriot Battery Metals (TSX-V: PMET)(OTC: PMETF), which, with Corvette, you played a large part in getting that under what would eventually be the Patriot Battery Metals umbrella. 

But obviously, Patriot has really set the bar pretty darn high for exploration and for the region. But with that being said, it's impossible for me to think that there's only going to be one discovery of significance in the James Bay region. And obviously, I voted with my wallet, my checkbook, and Q2 Metals is my second favorite James Bay play.

Can you walk me through some of the results from the couple of days that you were in the field? And specifically, I want to get into the Mia zone, which now measures, you say, approximately 370 meters and is up to 140 meters wide. 

The 140 meters wide, to me, is impressive as all heck for a first-pass, couple of days, kind of sample collecting exercise. Can you speak to that a bit?

Neil McCallum: Yeah, for sure. Previously, we just had kind of a rough mapping of it from those people that had been there before, many of whom weren't even looking at this project with lithium in mind. They were looking for gold so they weren't all that particular on how they were mapping it.

Listen, we've got some work to do because there are all sorts of pegmatites around it. And we really just got back to that zone that had been sampled in the previous year, verifying, obviously, the high-grade nature of that zone. And whether that's truly high-grade or sort of visually as people sample it, their eyes are drawn to the spodumene, which you can see. Once we get drilling, that'll be obviously the best test for average grade — but it's looking good.

I don't think that grade is going to be representative but the ones that are over 2%, that's fairly rare for most deposit averages just to be clear on that. And there is some uncertainty on the internal dimensions of that 140 meters wide. There might be some other wall rock or country rock in the middle of it so we'll know exactly how wide that is. But by all indications, this first target that we're going to be putting the drills on is looking to be the best target.

A big part of this story for the project has been that gap in between the two known zones. And that gap along the trend is about 8 km between the two known zones. And we haven't set foot on any of those yet… so that's just killing me that we can't get up there.

But listen, we've got a plan in place to, as soon as we can get back up there, we're going to move the drills up and start testing that Mia Zone, as we, at the same time, get boots on the ground and start sampling that trend in between. It gave me a lot more confidence to see how things were up there and to confirm the dimensions of that one Mia Zone.

Gerardo Del Real: And just to be clear, Neil, as far as drilling contractors and the drills and the staff necessary to operate those drills, my understanding, and in speaking with Alicia a bit ago, is that everything is a go as soon as you all get the green light. 

Everything is in position. You haven't lost any staff. You and I chatted a bit off-air but it's my understanding that the staff is ready, the staff is eager, the drills are ready to turn, and it's really just a matter of Mother Nature cooperating. Is that accurate?

Neil McCallum: Yep, that's right. If we get up there in the next couple of weeks, we're going to be not that far off our target for the summer. We're going to be making sure that we're doing as efficient of a job as possible while keeping those drills turning because I think that's really going to be unlocking the most value is to get the drills turning and put out some of the results from that.

Gerardo Del Real: Excellent. That's exactly what I wanted to confirm. Again, just as a shareholder, I know that there's a worry there that, with the campsite in place, if the team is not in place, and if the drills aren't ready, that a green light may still mean a couple of months before you're actually able to get out there and do the meaningful work that you need to do. That does not sound like it's the case in this situation.

Neil McCallum: No, we were well ahead of the game in terms of getting those contracts signed as soon as we had the funds. So yep, they've been ready and waiting to go. And they'll remain waiting until we're ready to go.

Gerardo Del Real: Excellent. Now, I'm going to ask you to take your Q2 hat off and put on your Dahrouge Geological hat on. And obviously, you and Dahrouge had a large, large part to play in Corvette winding up with what is now Patriot Battery Metals (TSX-V: PMET)(OTC: PMETF), where all of us as pretty substantial shareholders are excited for the maiden resource estimate that's to come.

If you want to comment on that, I would love a comment on that. But I really would love your comment about the exploration upside that still exists at Corvette because you have people, like myself, that have an interest in seeing at least a hundred million tonnes of what I call a sneak peek in the initial mineral resource estimate. 

But again, shareholders like myself are in it for the long haul because I just see so much exploration upside past that hundred million tonnes, which will be just a sneak peek. Can you speak to any of that at all?

Neil McCallum: Oh yeah, for sure. Well, we'll just wait for that resource estimate to come out but I'll speak to the exploration potential that's left on that project. I think that it goes without saying that I think some people like Blair have commented that we've got CV5 and there might be others of that scale even on the project with the fact that there's all of those other zones, CV8, 12, 9, 10, 4, and then, obviously, 13 we're testing out now. There's just so much more to go.

And those other zones, they have less bedrock exposure so without drill testing those, we're not going to know what the strike length is, what the depth extent is. So even though they might not look as attractive as the giant CV5 outcrop that is quite striking — if you go to the website, I'm sure that's highlighted on Patriot's webpage because it's quite stunning to see — it might be that those other projects are just as good but they just need to be drill tested.

So I guess the company is focusing on resource building, which is fine. I think there's a great number of additional resources that could be developed through drilling on that project alone outside of CV5. I just can't wait to see what that looks like.

Gerardo Del Real: I can't either. And I’ve got to say, Neil, in the little time that I've known you, when we initially started talking Patriot and Q2 and a few other companies and a few other names, and I pivoted back to the Corvette conversation, you were rather conservative. And so to hear you kind of give it that approval with that enthusiasm to me is exciting as a shareholder.

And on the Q2 side, I can't wait for you guys to get back in the field. I can't wait for you to follow up the exploration program with the drill bit and see what the second half of this year has in store.

Anything to add to that, Neil?

Neil McCallum: No, I think you're right. I'm typically a fairly conservative guy. But what has come from CV5 has just constantly surprised in a good way, and I hope that that continues with Q2 as well.

Gerardo Del Real: I hope so as well. Appreciate the time, Neil. Looking forward to having you back on. Fingers crossed that Mother Nature cooperates here in relatively short order.

Neil McCallum: Yeah, exactly. Me too.

Gerardo Del Real: Alright, cheers, Neil. Thank you.

Neil McCallum: Okay, bye.

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