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Q2 Metals (TSX-V: QTWO)(OTC: QUEXF) VPE Neil McCallum on Hitting 120.3 M at 1.72% Li2O including 19.0 M at 2.06% in First Assays
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the VP of Exploration for Q2 Metals, Mr. Neil McCallum. Neil, you got another one. Congratulations, sir. How are you today?
Neil McCallum: I'm doing great, thanks. Yeah, lots of good news for us and lots of great reactions, so I'm happy to see that.
Gerardo Del Real: Well, let's get into it. The stock is up some 40% today on the back of 120.3 meters at 1.72% lithium. That includes 19 meters at 2.06%. It's the first assays from the spring 2024 drill program at the 100% owned Cisco lithium property in James Bay. Obviously a win for James Bay, it's a win for the region, a win for us shareholders.
I remember a few months ago I asked, just asked on Twitter, and I know Twitter's not the real world, but I asked if Q2 could be the next Patriot. I caught a lot of flack for it. This is looking really, and I know there's only one Patriot, but I think soon they're going to start saying there's also only one Q2. Can you speak to the assays? You have to be over the moon about them.
Neil McCallum: Yeah, absolutely. There's a few takeaways that I'd like to point out that make me really happy about what we have here. Oftentimes when we have larger intervals of whatever deposit we are looking for, the larger intervals tend to be lower grade. And we do have some narrow high grade intervals, but our 120 meters is 1.72, and that's quite a bit higher than a lot of large intervals across any deposit almost globally.
So 1.72 is a good start and it's higher than what we were getting with the previous operator’s holes nearby. So we're hoping that continues to the southwest as we're continuing in that direction as well. So time will tell on those assays, but I really do like what we see. This is all very good and supports the opportunities.
Gerardo Del Real: Well, I'll tell you something that stands out to me outside of the fact that cumulatively, right, cumulatively you have yourself I mean, 181 meters at 1.67%. I could go on, but the consistency of the grade among the first four holes really, really stands out to me. Can you speak to that a bit?
Neil McCallum: Absolutely, yeah. So those intervals that are, I'm counting over 10 meters of something significant and just about all those are in that 1.5'ish on average, and that's great for us. And look, the tantalum is quite a bit higher than most James Bay deposits as well. We've got some 200 parts per million tantalum oxide, up to 150 over some significant widths too. So all that is striking as very positive for the future.
Gerardo Del Real: You have eight holes pending, any indication on how quickly the lab may be able to get those to you? Obviously people are looking for the next set of holes to see just the potential and the scale of this, right?
Neil McCallum: Yeah, absolutely. We're going to be releasing them as we get the results. I can't say exactly when the lab's going to be putting them out, but things are less busy than it was last year, but there's still quite a few people getting results to the lab at this time of the summer.
So it's hard to predict and we'll just get them out as soon as we can, likely in small batches as they come to us. So everyone can look forward to that.
Gerardo Del Real: Well, look, I'm looking forward to it. Happy shareholder. Congrats to you and the team. Congrats to shareholders. Congrats to everybody that participated in the recent 25 cent financing. That's looking pretty good a few weeks after closing, and I think soon you'll be trading in dollars, not cents. I've said it before, but the numbers really, I think underscore that now and lots of runway. I think it's just the beginning.
Before I let you go, I have to ask, and it's more of a point than a question, but I would love for you to speak on the infrastructure because Cisco is going to be a big beneficiary of that excellent infrastructure that the project is surrounded by. Can you speak to that a bit?
Neil McCallum: Absolutely. So the project itself is roughly about 10 to 15 kilometers away from the Billy Diamond Highway, and it's about 150 kilometers along that road from the nearest town of Matagami. And at that town of Matagami is the rail head that connects the region to the rest of southern Quebec. So it's very close.
Compare that to many other projects in James Bay, and there's just nothing for 200, 300 plus kilometers. So we're quite happy with that situation and it's going to bode well for the future of this project.
Gerardo Del Real: Oh, great stuff, great work. Looking forward to the rest of the assays. We'll chat again soon, Neil.
Neil McCallum: Really good, thank you.
Gerardo Del Real: All right. Cheers, now.
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