Mike Fagan,
Editor
May 7, 2024
Q2 Metals Corp. (TSX-V: QTWO)(OTC: QUEXF) — currently trading around C$0.28 per share in a resurgent lithium market — has completed a review of drill core from its newly-acquired Cisco lithium property in James Bay, Quebec.
The drill program was completed by the property vendors last fall. The Q2 Metals team has since relogged 6 drill holes (totaling 1,287 meters) and has sent the core to SGS Canada for lab analysis.
The 11,374-hectare Cisco property comprises 222 underexplored mineral claims along the Frotet Evans Greenstone Belt, which lays host to the Sirmac and Moblan lithium deposits.
Is Elon Musk Eyeing This $2 Lithium Play?
Click here to get started.
The aforementioned drill program was centered on one of six mineralized zones and successfully intersected multiple, wide spodumene-bearing pegmatites from surface, including:
- CS-23-05 consisting of five separate pegmatite intervals with a cumulative 115.4 meters at 1.21% Li2O
- CS-23-06 consisting of three separate pegmatite intervals with a cumulative 57.8 meters at 1.27% Li2O
- CS-23-04 consisting of a continuous interval of 31.5 meters at 1.30% Li2O
Q2 Metals president & CEO Alicia Milne commented via press release:
“While we eagerly await access to the property, the team has been busy in the background reviewing the data and preparing for an exciting summer in the field. Details on our summer exploration plans will be announced in the coming weeks.”
The Cisco property represents an accretive acquisition to the company’s flagship, 8,668-hectare Mia lithium project located to the north (see below), giving Q2 Metals a strong position in the western portion of the James Bay region.
At Mia, results were just released from the company’s recently completed inaugural drill program along the 10-km-long Mia Lithium Exploration Trend, which confirmed the presence of wide spodumene-mineralized pegmatites containing high-grade intervals at the Mia Zone (17 holes completed) and Carte Zone (8 holes completed).
Highlights include:
- Mia Zone (Drill-hole MIA23-004): 17.8 meters at 1.51% Li2O, including 12.2 meters of 2.16% Li2O
- Carte Zone (Drill-hole MIA23-007): 7.3 meters at 0.94% Li2O, including 4.4 meters of 1.40% Li2O
Drill results at the Mia Zone confirmed spodumene mineralization within a continuous pegmatite zone (8 to 20 meters thickness) dipping to the north with the pegmatite body appearing to be open to the west, east, and north.
Results from the Carte Zone also confirmed spodumene mineralization within a pegmatite zone (5.8 to 7.3 meters thickness) from surface and dipping to the northwest.
Core assay results for the remaining 20 drill holes from the ~3,000-meter program are due in short order.
Q2 Metals VP Exploration Neil McCallum — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the Mia drill results via press release:
“Core assay results received to date indicate our 2023 drill program was successful in confirming spodumene mineralization in the pegmatites at the Mia Property. Using innovative targeting methods, our 2023 drill program on the Mia Trend has revealed that pegmatites are in some cases complex and variably mineralized at depth and in other cases, such as at Mia-1/2 and Carte, the pegmatite bodies have a simple geometry and consistent mineralization. We are very encouraged with these first drill results and believe we have only just begun to unlock the potential of the Mia Property.”
If you’ve been following the Q2 Metals story, then you’ll recall that last summer’s devastating regional wildfires prevented the company from completing the full extent of its planned 2023 exploration and drilling program at Mia.
As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with Q2 Metals VP Exploration Neil McCallum to discuss just that, including upcoming plans for Mia for this summer’s drill season, a look at the Cisco acquisition, and much more. Please enjoy!
For more information on Vancouver-based Q2 Metals, please contact the company’s IR department at 800-482-7560 or via email at info@q2metals.com.
Visit the Q2 Metals corporate website and sign up to receive updates directly from the company here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest