Categories: Energy
Topics: Lithium Stocks

Q2 Metals (TSX-V: QTWO)(OTC: QUEXF) VPE Sage McCallum on Extending Near Surface Mineralization 100 Metres North at the Cisco Lithium Project, Intercepting 134.5 Metres at 1.20% Li₂O and 101.6 Metres at 1.02% Li₂O

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the VP of Exploration for Q2 Metals (TSX-V: QTWO)(OTC: QUEXF), Ms. Sage McCallum. Sage, great to have you back. Another conversation, another round of congratulations. You just hit near-surface mineralization a hundred meters north at the Cisco Lithium Project hitting 134.5 meters at 1.2% lithium and 101.6 meters at 1.02%. Congrats on that. Clearly, things are coming along well. Clearly, the project keeps delivering. Can you provide some context on the latest hits here?

Sage McCallum: Yeah, definitely. So like we've been saying for our summer program, this is really just the first few holes from our summer program. They're finally getting assay results back to us. So here it is, we're sort of doing exactly what we set out to do, which is infill drilling within the main part of the deposit to upgrade the resource category from inferred to indicated. As well, the other goal of our project is extending the zone in many different directions, but primarily where the mineralization is close to surface because we could definitely continue at depth right around that 500-meter mark. There's a few open-ended areas, but that just doesn't make any sense. We don't need to add tonnage just for the sake of it.

So this additional mineralization further to the north of what we previously knew is great because it's at that criteria that I've sort of set for myself of getting that shallow mineralization, the 200 meters and above, so that it can easily sort of expand the zone near surface to allow for better economics, understanding that we need to improve the economics of what we have here near surface. Overall, the project is looking great, but obviously near surface first to mine is going to be better for the project overall from a global standpoint on a mining level.

Gerardo Del Real: You're working on the PEA. You have nearly $71 million on your balance sheet as of August 31st. How has the transition been adding to the team clearly now with the treasury being what it is and the PEA in focus, you're bringing people on, you're adding to the team, you're doing different things. How has that been moving from strictly exploration focus to a whole new level of bandwidth that I imagine you have to have to take the steps that you're taking now?

Sage McCallum: Yeah, that's just it. So we started as a very small and lean exploration team typical for junior mining, but now we're moving towards that development. So that's where Jean-François Tremblay and Geneviève come in to move us toward that development level project while at the same time continuing that exploration and expansion of the mineralization. I can't do everything, Alicia can't do everything. So here we go, we're growing as we grow the company. So it's been really great to see everybody's working really well, everybody's got their mandate and as well, they all tie in together. So the baseline environmental studies that we're doing need to be done in sequence in areas that we know the development is and the development is being directed by Jeff and he is coordinating with everybody else to make sure that everything aligns.

So it's really neat to see it all coming together from really just, as I keep talking about very recently, this project's first drill hole was only three years ago, so we've come a long way. It's not one of those recycled projects that we've seen many times out there in the junior mining game. This is a true grassroots discovery. So we're growing as much as we can right now. And it's really good to see full steam ahead as efficiently as we can, as well growing the resource, growing our company. So it's really neat to see that all aligning.

Gerardo Del Real: No, that's great. It's been incredible seeing the development here over the last several years. What's the rest of Q4 look like, Sage?

Sage McCallum: Yeah, definitely. So we're going to be releasing the summer results as they come. So those are trickling in through the lab and we'll release them as they come as well. Everybody that's been following Q2 probably knows that we've been saying fall 2026 for our PEA, and we're still in line to do that. We are busy at work optimizing that, making sure we've got all the studies that we need to do to publish something that I think will be very impressive. So that's sort of the two major things as well. We're doing all the other things to take us beyond the PEA right now. So we're doing additional metallurgical testing as we speak, as well as all that baseline environmental data collection in order to move this towards development. So lots of things happening in the background that we're just really excited to eventually announce. So it's going to be a very busy Q4 for Q2.

Gerardo Del Real: Exciting times. Looking forward to the rest of Q4. What's your take on the lithium space before I let you go? I know that we've had a consolidation obviously over the last several months and the stuff that I read, you got kind of two camps. You have the camp that believes the demand is going to surprise to the upside, and then you kind of have the camp that believes that there's going to be enough supply to kind of feed the market. For Q2 being an exploration company, really what's most important is what the next three, four years look like, not what today looks like, but what's your take on the lithium market right now?

Sage McCallum: Yeah, I think that as with many things, the truth or the reality probably lies somewhere between the two schools of thought. It's not going to be one extreme positive or negative. I think this is what we're seeing in the last few months is a little bit of a downtick in an overall greater resurgence of lithium. I think that all the fundamentals are still there. I think a lot of important people in the industry are seeing positive growth in the long term despite a shorter term downtick in that lithium spot price. So I'm not concerned and I don't think a lot of the other major players in this space are concerned either. So yeah, I think it all looks relatively positive. It's just the fluctuations that we see on a small scale don't always reflect the greater trend of growth here in the lithium space.

Gerardo Del Real: Couldn't agree with you more, Sage. Always a pleasure. Thank you so much.

Sage McCallum: Great. Thank you.

Gerardo Del Real: All right. Chat soon. Cheers.

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