Q2 Metals (TSX-V: QTWO)(OTC: QUEXF) VPE Neil McCallum on Re-Assaying Historic Core & Drilling at the Flagship Cisco Lithium Project


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, it's great to have you back on. How are you today?

Neil McCallum: Fantastic. Yeah, thanks.

Gerardo Del Real: Well, listen, let's get right into it. It's always nice when you're able to acquire a project that everyone agrees is one of the most exciting lithium projects that has yet to see extensive drilling in the James Bay region. It's really nice when you get some core and some historic results to go with that core, and it's even nicer when you send some of that core out to get re-assayed, and what you get back is better than what you started with, which was already really, really good. So I wanted to have you on to talk about the re-assaying results at the Cisco Lithium property, and then we'll touch on the upcoming drill program which, as you know, I am excited about because that is my single best way to add value in the business, is with the drill bit. So first and foremost, thoughts on the re-assaying?

Neil McCallum: Yeah, of course. So it's something that we really wanted to do, even though the sampling that was done and the lab that was done, first of all, was adequate for a first-pass look at things just to confirm lithium or not. But we went a little bit back and forth on whether we should do the re-assay, and I think that this goes to show that based on our QA/QC, it's a little bit closer to what we should expect going forward for average grades on these intervals, because we're going to be using the analytical method that we just recently reported going forward. So to compare where we're at to where we're going to be going this summer, we wanted to compare the same analytical results. I could get into a super amount of detail, but I think that gives you the basics.

Gerardo Del Real: No, absolutely. It sounds like you have a good baseline and processes in place for the upcoming drill program. Of course, there's going to be some exploration to be had, because a lot of this trend remains unexplored. We talked a bit off-air. I know for you, that is, what drives you in this business, is the ability to get out there and do some really, really exciting grassroots exploration. For those that aren't familiar with Cisco, can you speak to the property, the scale, the potential, and how you plan on following that up?

Neil McCallum: Absolutely, yep, for sure. This is the kind of stuff that is great to be involved in, because it really adds value to what we're doing right now. We're going from what we know in one of five or six different sampled areas that were looked at previously. One of those was drill tested so far, and they uncovered about 200 meters of strike length on those six drill holes. And we will focus on there for our follow-up. But what's interesting is looking at those other sampled zones about one kilometer to the east along strike is another fairly prominent looking outcrop that we can tell from the surface Lidar, which tells us the DEM of how the outcrops look, because there's a little bit of tree cover, so it's a little bit tricky to look at things on satellite compared to Mia, where you can see those pegmatite outcrops stick out super well.

So we need to get our boots on the ground to understand if those two zones could potentially connect, and that's only going to be a story told at the drill bit. And that's the exciting part. That correlation of taking that one outcrop across to the other one, which is a kilometer way, kind of reminds me of the early days up at Corvette where we had two large outcrops, they were named CV1 to CV5, and there was the lake in between. It was like the roll of the dice, the exciting part about exploration is, "Hey, we've drilled these two zones. What are the chances they connect?" and lo and behold, they did under the lake and it was off to the races, because it just kept going in either direction, and we haven't fully understood where that ends. It's about four and a half kilometers of Corvette back to Cisco. We're going to find that out very soon what the extent of things are subsurface, but already it's off to a good start. Sorry to keep rambling, but I could just keep going on forever, but-

Gerardo Del Real: No, no, I love this.

Neil McCallum: The area that the guys looked at before, when they were doing the work last year, of course they were limited, as we all were, with the fire season, but they had only really checked out an area that was about one kilometer by one kilometer. So that's just a tiny postage stamp size area of the property. The northern trend is several kilometers. We're talking probably, I think it was roughly 12 kilometers of trend as we go along, then we follow the magnetics, follow the geology. So that's all areas that totally has not yet been looked at for Lithium, and that's where we're going to be focusing a good part of our work program. We've designed a whole lot of targets already, and we'll get our boots on the ground there very soon.

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Gerardo Del Real: Well, listen, I want to caution everyone. And look, it's funny, one of my editors here a few months back just asked the question in a headline piece for Q2 Metals that we wrote. Just is Q2 onto the next Corvette, and we got some pushback on it. And listen, marketing is marketing, it was just a question. So I want to caution everybody. There's probably just one Corvette out there, everybody, but man, if we get even a fraction at Cisco of what we've been able to uncover at Corvette, it will absolutely truly be a special project. It seems like the grade portion of the question has been answered. I mean pretty consistent, right? 1.40%, 1.44%. Those are very, very, very, very good grades. The widths are clearly there. Let's see what the continuity and the scale of that is. And I couldn't be more excited as a biased shareholder to get you out there to get boots on the ground for you to start reporting what you're uncovering, and then to follow the drill bit and see where that goes.

Neil McCallum: Yep, you're right. Exactly. And that's the one comparison that I can easily make, because I was involved in that discovery to where they're at now. So of course I'm going to make that similar leap on how these things look. But I'm following all the other discoveries in the James Bay, and some things are similar to Cisco that also have that same story of are they continuous or not? Sometimes, yeah, sometimes no. So yeah, we're going to be following things as they go. And again, I can't predict the future, but I'm sure as heck excited to get back out there.

Gerardo Del Real: Well, look, I want to leave everybody by providing a little bit of context. The re-assaying, I believe was just for the six holes at the prior vendors went ahead and drilled right? Of those six holes, I believe there were only two that actually got the orientation correct. And of those two, you had a hit of 115.4 meters within five separate intervals. I'll caution. Right?

Neil McCallum: Yeah, exactly.

Gerardo Del Real: And 57.8 meters within three separate pegmatite intervals, that's a heck of a success rate for the two holes that were drilled correctly, and I think bodes well for future drilling. So can't wait. Looking forward to it. Looking forward to details of the drilling program once those are unveiled. And as always, Neil, have all the time in the world for you and the team. Looking forward to having you back on.

Neil McCallum: Okay. Thanks, Gerardo. Take care.

Gerardo Del Real: All right, Neil. Cheers.

Neil McCallum: Yep. Bye.

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