Q2 Metals Provides Drill Program Update at Its Mia Lithium Property, James Bay Territory,
Q2 Metals Provides Drill Program Update at Its
Mia Lithium Property, James Bay Territory,
Quebec, Canada
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2023) -
Q2 Metals Corp. (TSXV:
QTWO) (OTCQB: QUEXF) (FSE: 458)
("
Q2
" or the "
Company
") is pleased to provide an update on
Phase 1 of its inaugural drill program at its wholly owned, 8,668-ha Mia Lithium Property (the
"
Property
") located in the Eeyou Istchee James Bay Territory of Quebec.
The primary objective of Phase 1 of the drill program is to conduct initial drill testing of the Mia Lithium
Exploration Trend (the "Mia Trend"), commencing at the Mia Zone on the west end of the Mia Trend and
continuing along the nearly 10 km long trend, to the Carte Zone. Phase 1 of the drill program will continue
with one active drill rig at the Mia Zone area and one active drill rig at the Carte Zone area.
"
It's exciting to have our drill program underway to begin testing our initial targets at the Mia Trend
,"
said Q2 CEO & President, Alicia Milne.
"With the success of our condensed mapping and sampling
program in September and the cooperation of the weather, the drill program will continue into
December."
"Our initial drilling has vastly improved our understanding of the Property and as we expected, the
results show a series of stacked, parallel pegmatite bodies in a similar geometry as the James Bay
deposit of Allkem Inc.
1
," said Q2 VP Exploration, Neil McCallum. "We are interpreting this positively
as drilling has also provided confirmation that the pegmatites are shallowly-dipping at between 25 and
30- degrees."
Cautionary Statement:
(1)
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on
the Company's properties.
As stated in a Sept-25, 2023 news release, the James Bay Feasibility study reports a Total Mineral Resource of 110.2
Mt at 1.30% Li
2
O, including 54.3 Mt at 1.30% Li
2
O in the Indicated Category, and 55.9 Mt at 1.29% Li
2
O in the Inferred Category, with a cut-off-
grade of 0.4% Li
2
O.
Since beginning Phase 1 of the drill program on October 23, a total of 12 drill holes have been
completed at the Mia Zone (8) and Carte Zone (4) for a total of 2,506 metres.
The geological team has completed the cutting and logging of holes MIA23-001 to MIA23-005 and the
samples are currently being prepared for dispatch to the lab for analysis. The details of the first five holes
are reported in detail, herein (Table 1). The basic information of the other seven holes that have not yet
been logged in detail and cut is included below (Table 2).
Drilling commenced at the Mia Zone on the western end of the Mia Trend with holes MIA23-001 and
MIA23-003 drilled as a scissor pair to build a greater structural understanding of the Mia Zone and assist
in the identification of dip and dip direction and resulted in several pegmatite intercepts.
Holes MIA23-002 and MIA23-004 were also drilled as a scissor pair approximately 100m to the north of
MIA23-001 and MIA23-003 and resulted in several pegmatite intercepts.
Hole MIA23-005 was drilled from the same section lines as MIA23-001 and MIA23-003 to test alternate
dip direction and resulted in several pegmatite intercepts.
All five holes intercepted pegmatites with visual indications of spodumene mineralization identified
2
. All
five holes will be shipped to the lab for mineral analysis to confirm the presence of lithium mineralization.
Cautionary Statement:
(2)
The presence of pegmatites does not confirm the presence of lithium (spodumene or other lithium minerals). Pegmatites are fractionated
coarse grained igneous rocks commonly associated with lithium mineralization; however, many pegmatites do not contain mineralization. The
presence of any mineralization can only be confirmed with assaying.
Table 1- Pegmatite Interval Summary Holes MIA23-001 to 005
Hole
number
From (m)
To (m)
Length
Hole
number
From
To
Length
Hole
number
From
To
Length
MIA23-001
6.17
7.75
1.58
MIA23-002
6.71
13.21
6.5
MIA23-005
0
6.87
6.87
55.04
55.7
0.66
18.72
24.28
5.56
18.25
18.8
0.55
65.19
67.37
2.18
52.75
53.63
0.88
48.74
49.52
0.78
83.8
85.04
1.24
60.09
60.74
0.65
67.65
69.77
2.12
130.73
143.79
13.06
85.8
86.3
0.5
120.3
122.25
1.95
147.87
148.93
1.06
88.47
92.74
4.27
143.48
144.29
0.81
153.8
155.12
1.32
92.74
100.85
8.11
147.21
148.4
1.19
177.58
178.12
0.54
110.97
112.24
1.27
151.23
151.86
0.63
221.35
222.89
1.54
186.48
187.64
1.16
163.5
164
0.5
MIA23-003
58.65
63.43
4.78
190.1
191.44
1.34
187.74
215.25
27.51
89.36
93.37
4.01
225.34
233.22
7.88
217.86
219.3
1.44
215.13
215.93
0.8
234.33
247.19
12.86
220.31
227.18
6.87
MIA23-004
51.63
52.91
1.28
227.8
230.35
2.55
131.61
133.54
1.93
232.02
233.31
1.29
134.7
143.83
9.13
233.97
248.75
14.78
145.16
149.44
4.28
Figure 1- Summary Map of Drilling at Mia Zone
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1454/187585_66c637ec24f75aa6_005full.jpg
Figure 2- A) Hole MIA23-002 near-surface pegmatite interval.
B) Hole MIA23-004: coarse-grained
spodumene crystals.
C) Hole MIA23-005: spodumene-bearing pegmatite
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1454/187585_66c637ec24f75aa6_006full.jpg
Table 2- Summary of Holes Completed to Date
Hole_ID
Target
Northing
Easting
Elevation (m)
Azimuth
DIP
Hole Depth (m)
MIA23-001
Mia-1
5891137
302304
183.88
260
-45
227.35
MIA23-002
Mia-1
5891245
302353
174.83
260
-45
247.83
MIA23-003
Mia-1
5891132
302213
180.65
80
-45
217.57
MIA23-004
Mia-1
5891234
302302
176.57
80
-45
270.2
MIA23-005
Mia-1
5891136
302266
178
170
-90
248.75
MIA23-006
Mia-1
5891136
302266
178
170
-45
154.41
MIA23-007
CARTE
5893468
309794
162.4
145
-45
196.95
MIA23-008
Mia-1
5891208
302429
174.7
255
-45
269
MIA23-009
CARTE
5893468
309794
162.4
145
-85
126
MIA23-010
CARTE
5893442
309753
162.82
145
-45
201
MIA23-011
Mia-1
5891307
302454
166
260
-45
245
MIA23-012
CARTE
5893442
309753
162.82
145
-85
102
- Coordinates are in UTM NAD83, zone 18.
- All holes are NQ-size diamond drill core.
- Azimuth and dip are reported as planned, and will deviate down-hole.
Figure 3- Summary Map of Drilling at Carte Zone
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1454/187585_66c637ec24f75aa6_008full.jpg
In preparation for Phase 2 of the program starting in the new year, the Company has received permits
and began initial work on the preparation of a winter access trail. The winter trail is approximately 30 km
in length, and it will extend site access from the Wemindji Access Highway through the Mia Zone and
end at the Carte Zone.
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 currently advancing exploration of its
8,668-ha flagship Mia Lithium Property in the Eeyou Istchee James Bay Territory of Quebec, Canada
which is host to the Mia Li-1 and Mia Li-2 lithium occurrences. The Company also owns the Stellar
Lithium Property with 77 claims totaling 3,972-ha, located approximately six kilometres north of its Mia
Lithium Property.
Q2 is also exploring the highly prospective Big Hill and Titan gold projects covering approximately 110
km² in the Talgai Goldfields of the broader Warwick-Texas District of Queensland, Australia, hosting 54
high-grade historical gold mines.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Jason McBride
Corporate Communications
Telephone:
1 (800) 482-7560
E-mail:
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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
words and phrases and similar expressions, which, by their nature, refer to future events or results that
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 includes, but is not limited to, the timing and completion of the Phase 1 drill
program, the timing and preparation for the Phase 2 drill program, the scale, scope and location of
future exploration and drilling activities, the focus of the Company's current and future drill programs,
the Company's
expectations in connection with the projects and exploration programs being metthe
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 recovery rates, changes in project parameters as plans continue
to be refined,unsuccessful exploration results, changes in project parameters as plans continue to be
refined, results of future resource estimates, future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions, risks associated with regulatory
changes, defects in title, availability of personnel, materials and equipment on a timely basis,
accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to remedy same. Readers are
cautioned that mineral exploration and development of mines is an inherently risky business and
accordingly, the actual events may differ materially from those projected in the forward-looking
statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the
Company's Management Discussion and Analysis for its recently completed fiscal period, which is
available under Company's SEDAR profile at
www.sedarplus.ca
.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or expected. Although the Company
has attempted to identify important risks, uncertainties and factors which could cause actual results to
differ materially, there may be others that cause results not to be as anticipated, estimated or
intended. The Company does not intend, and does not assume any obligation, to update this forward-
looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/187585