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Q2 Metals Corp. (QUEXF) is a Canadian mineral exploration company focusing on unlocking its lithium projects in Quebec's Eeyou Istchee James Bay region. The company's flagship Mia Lithium Property, along with the recently acquired Cisco Lithium Property, showcases significant potential within the lithium sector. Recent exploration efforts have led to optimistic drilling results at the CO1 Zone on the Cisco Property, hinting at district-scale possibilities and extension opportunities for mineralization. With strategic drilling programs and ongoing mapping initiatives, Q2 Metals aims to tap into the vast mineralization potential of the region.
Q2 Metals has announced a non-brokered private placement to raise up to $7.5 million. The offering includes 10,800,000 Charity Units at $0.4625 per unit for gross proceeds of $4,995,000, 1,000,000 FT Units at $0.35 per unit for $350,000, and 8,620,000 NFT Units at $0.25 per unit for $2,155,000. Each unit includes one share and half a warrant, with warrants exercisable at $0.50 per share for two years.
The proceeds from Charity Units and FT Units will be used for Canadian exploration expenses on the company's lithium projects in Quebec, while NFT Unit proceeds will be used for general working capital. The offering is expected to close by July 31, 2024, pending TSX Venture Exchange approval.
Q2 Metals Corp. has announced the discovery of eight new spodumene-bearing pegmatite zones at its Cisco Lithium Property in James Bay, Quebec, bringing the total number of confirmed mineralized zones to 15. The discoveries were made during the 2024 mapping and sampling program, with 41 samples from the CO1 to CO15 outcrop groups showing lithium oxide (Li2O) grades up to 4.31%, averaging 1.80% Li2O.
The company has collected and assayed a total of 76 pegmatite samples, confirming lithium presence in all 15 zones. These results provide Q2 Metals with confidence to expand drilling efforts, particularly to the south of the CO3 outcrop zone. Initial drilling results, including from holes CS24-011 to CS24-014, indicate continued mineralization between CO1 and CO3. Further drilling is planned to test the subsurface extent of these zones. Ongoing work will focus on understanding the surface expression and potential of newly discovered areas.
The company’s priority area of interest now spans 1.1 by 3.5 km, following the discovery of additional lithium-enriched boulders and outcrops.
Q2 Metals recently announced significant progress in their Spring 2024 drill campaign at the Cisco Lithium Property in James Bay, Quebec. The company drilled four additional holes (CS24-011 to CS24-014) totaling 1,215 meters, expanding the mineralized zone to 750 meters southwest to the CO3 Zone. Highlights include drill hole CS24-014 encountering thirteen spodumene pegmatite intervals with a cumulative width of 131.6 meters. The ongoing drill program aims to further define the scale and potential of the Cisco deposit.
On June 25, 2024, CEO.CA Technologies, a subsidiary of EarthLabs, Inc., shared updates from Thesis Gold and Q2 Metals. 'Inside the Boardroom,' CEO.CA's interview series, featured Ewan Webster of Thesis Gold and Alicia Milne of Q2 Metals. CEO.CA is a leading investor social network, with millions of annual visitors connecting investors globally to share insights on stocks and commodities. The series offers firsthand knowledge from industry leaders about their visions and strategies. The interviews with Thesis Gold and Q2 Metals highlight key project updates for these junior mining companies.
Q2 Metals announced significant findings from its Spring 2024 Drill Campaign at the Cisco Lithium Property in James Bay, Quebec. A total of four drill holes were completed, with the standout being hole CS24-010, which intersected five spodumene-mineralized intervals with a cumulative width of 194.8 meters. Drill holes CS24-007, CS24-009, and CS24-010 showed promising extensions of lithium mineralization.
Additionally, the mapping and sampling program revealed eight new spodumene pegmatite occurrences, bringing the total to fifteen across an area of 1.1 by 1.7 kilometers. The company plans to continue expanding its exploration efforts, aiming to extend the mineralized zones further.
The geological team has sent samples for analysis to confirm lithium presence, with ongoing drilling expected to refine the pegmatite zone model further. These initial results support Q2 Metals' belief in the district-scale potential of the Cisco Property.
Q2 Metals, trading as QUEXF on the OTCQB, announced the closing of three option agreements for acquiring the Cisco Lithium Property in James Bay, Quebec. Initially agreed on February 28, 2024, and amended on June 12, 2024, these agreements grant Q2 Metals the exclusive right to 100% ownership of the property. The Cisco Property is composed of three groups of mineral claims situated in the southern part of Eeyou Istchee James Bay. This strategic acquisition is expected to bolster Q2 Metals' position in the lithium exploration market.
On May 29, 2024, Q2 Metals announced the initiation of its inaugural drill program at the Cisco Lithium Property in Quebec, Canada. The Spring 2024 Drill Campaign aims to explore the mineralized zone where a lithium discovery was made in fall 2023. The program will focus on testing mineralized pegmatite along strike and determining the size and orientation of the Discovery Zone. Concurrently, a detailed mapping and sampling campaign continues to assess the extent of lithium mineralization and identify other potential targets within the 21 km exploration trend.
Q2 Metals announced a repricing of 12,908,333 outstanding common share purchase warrants from $1.25 to $0.60. This amendment awaits approval from the TSX Venture Exchange. These warrants were originally issued on February 23, 2023, as part of a private placement. All other terms, including the expiry date of February 23, 2025, remain unchanged.
Q2 Metals has initiated its first exploration program at the Cisco Lithium Property in James Bay, Quebec. The geology team and drilling contractors have mobilized for a detailed mapping and sampling program to assess lithium mineralization over a 21 km exploration area. The Spring 2024 Drill Campaign will focus on the 2023 discovery area, with potential expansion based on initial assessments. Dahrouge Geological Consulting is managing the program, with Youdin-Rouillier Drilling contracted for diamond drilling.
The Q2 Metals team, led by President and CEO Alicia Milne, is motivated by the property's previous discoveries and the project's large scale. This initiative aims to identify further potential targets and expand the scope of exploration at the Cisco Property.
Q2 Metals has announced the results of re-assaying core samples from the Cisco Lithium Property in Quebec, Canada.
The re-assay confirmed significant lithium and tantalum mineralization in multiple drill holes, including 115.4 meters at 1.40% Li2O in hole CS-23-05 and 57.8 meters at 1.44% Li2O in hole CS-23-06.
These results are an improvement over the previous assays, which were 1.21% and 1.27% Li2O, respectively.
Q2 Metals plans a detailed mapping and sampling program starting after May 20, 2024, followed by an inaugural drill campaign focusing on the 2023 discovery area, aiming to explore further along the 21-kilometer-long primary exploration trend.
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