Q2 Metals Announces Completion of Drill-Core Re-Evaluation for the Cisco Lithium Property, James Bay Territory, Quebec, Canada
Q2 Metals Announces Completion of Drill-Core
Re-Evaluation for the Cisco Lithium Property,
James Bay Territory, Quebec, Canada
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) -
Q2 Metals Corp. (TSXV: QTWO)
(OTCQB: QUEXF) (FSE: 458)
("
Q2
" or the "
Company
") is pleased to announce that the Company
recently completed a review of the drill core from the drill program conducted by the property vendors at
the Cisco Lithium Property (the "
Property
" or the "
Cisco Property
") in fall of 2023.
"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," said Q2 Metals President and CEO Alicia Milne.
"Details on our summer exploration plans will be announced in the coming weeks."
As part of the review, the geological team re-logged the six drill holes (1,287 metres ("m")) and ensured
that all relevant intervals were sampled. The previously sampled drill-core was dispatched to SGS
Canada for lab analysis and confirmation and the Company will report on results once received.
Figure 1 Core Photograph of Drill Hole CS-23-05
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Q2 announced the 100% acquisition of the Cisco Lithium Property on February 29, 2024.
About the Cisco Project
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares ("ha") in size. It is
located less than 10 kilometres ("km") east of the Billy Diamond Highway, and is approximately 150 km
north of Matagami, a small town that contains the closest rail link to much of James Bay (Figure 2). The
Property lies within the greater Nemaska Community lands of the Eeyou Itschee Territory, James Bay,
Quebec.
The Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package
dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same
belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
Figure 2 Cisco Property - Regional Location
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During 2023 and 2024 the Property vendors discovered the lithium zone by collecting 28 rock samples,
21 of which returned over 1.0% Li
2
O (Figure 3). The results are within a 1.2 km by 1.5 km area, clustered
into six separate mineralized zones.
Figure 3 Cisco Property - Exploration Summary
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In the fall of 2023, the Property vendors drilled six holes, totaling 1,287 m, at one of the six mineralized
zones. The drilling confirmed a strike length of approximately 220 m and open along strike in both
directions and down-dip. The first three holes were drilled towards the south and are interpreted to have
undercut the mineralized pegmatite that is also dipping to the south, thus did not intersect the large
outcrops that were observed from surface.
Limited follow up drilling successfully intersected multiple, wide spodumene-bearing pegmatites from
surface (mapped in Figure 3, with complete results in Table 2). Including:
CS-23-05 consisting of five separate pegmatite intervals with a cumulative
115.4 m at 1.21%
Li
2
O
.
CS-23-06 consisting of three separate pegmatite intervals with a cumulative
57.8 m at 1.27%
Li
2
O
.
CS-23-04 consisting of a continuous interval of
31.5 m at 1.30% Li
2
O.
Due to drill rig issues, drill hole CS-23-05 ended in mineralized pegmatite and was followed up with hole
CS-23-06 at a shallower dip (Figure 4). The result of the two holes from the same drill pad infers that the
pegmatite is dipping to the south, and the intervals intersected are possibly the near true thickness of the
mineralized pegmatite. Additional drilling will need to be conducted to confirm this theory.
Figure 4 Cross Section of Drill Holes CS-23-05 and 06
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The remainder of the Property is largely unexplored for its lithium potential and there may be more than
one prospective greenstone belt on the Property (Figure 5). The Northern, Central and Southern lithium
trends are each approximately 21, 13 and 3.5 km long, respectively.
Figure 5 Cisco Property Claim Block Map
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Table 1 Summary of 2023 Drilling
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Table 2 Mineralized Intercept Summary for 2023 Drill Holes
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Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec
and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and
VP Exploration of Q2.
About Q2 Metals Corp
Q2 Metals Corp. is a Canadian mineral exploration company focused on unlocking its portfolio of lithium
projects in the Eeyou Istchee James Bay region of Quebec, Canada that includes its 100% owned Mia
Lithium Property and its recently acquired Cisco Lithium Property.
The Company's exploration advancement at its 8,668-ha flagship Mia Lithium Property is focused on the
more than 10-kilometre-long Mia Trend which is host to both the Mia 1 and Mia 2 lithium occurrences
and 11 other mineralized zones along trend.
The Cisco Lithium Property is located approximately 150 km north of Matagami, Quebec and comprised
of 222 mineral claims and is 11,374-ha in size. The property has district scale potential with an already
identified mineralized zone and a discovery drill result of 115.4 m of 1.21% Li2O (hole CS-23-05),
cumulatively in five separate pegmatites.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Jason McBride
Corporate Communications
Telephone:
1 (800) 482-7560
E-mail:
WWW.Q2Metals.com
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Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian legislation. Forward-Looking
statements are typically identified by words such as: "believes", "expects", "anticipates", "intends",
"estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such
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may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news
release that are not purely historical are forward-looking statements and include statements regarding
beliefs, plans, expectations and orientations regarding the future including, without limitation, any
statements or plans regard the geological prospects of the Company's properties and the future
exploration endeavors of the Company. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ materially from those
in the forward-looking statements. Forward-Looking statements are based on a number of material
factors and assumptions.
Forward-Looking statements involve known and unknown risks, uncertainties and other factors that
may cause actual results to differ materially from those anticipated in such forward-looking
statements. The forward-looking statements in this news release speak only as of the date of this news
release or as of the date specified in such statement. Forward-Looking statements in this news release
include, but are not limited to, exploration results on the Cisco Property and inferences made
therefrom, the focus of the Company's current and future exploration and drill programs, the scale,
scope and location of future exploration and drilling activities, the Company's expectations in
connection with the projects and exploration programs being met, the Company's objectives, goals or
future plans, statements, exploration results, potential mineralization, the estimation of mineral
resources, exploration and mine development plans, timing of the commencement of operations and
estimates of market conditions. Factors that could cause actual results to differ materially from those
in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or