Q2 Metals Collars First Drill Hole of Its Inaugural Drill Program at the Cisco Lithium Property, James Bay, Quebec, Canada
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.
- Initiation of inaugural drill program at Cisco Lithium Property could indicate potential for lithium discovery.
- Testing of mineralized pegmatite to define Discovery Zone size and orientation shows focused exploration strategy.
- Ongoing mapping and sampling to identify additional target areas within a 21 km trend could lead to future discoveries.
- No immediate results or findings from the initial drilling activities were reported.
- The discovery made in fall 2023 still requires further validation, presenting potential risks of non-discovery.
- High exploration expenses with uncertain outcomes could affect financial stability.
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) ("Q2" or the "Company") is pleased to announce that it has collared the first drill hole of the 2024 inaugural drill program ("Spring 2024 Drill Campaign") at the Cisco Lithium Property (the "Property" or the "Cisco Property") located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada. The detailed mapping and sampling campaign remains ongoing at the Property.
Figure 1 Active drill rig at the Cisco Lithium Property for inaugural drill program
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The Spring 2024 Drill Campaign will test the mineralized zone where the Property vendors drilled and made a discovery in the fall of 2023 (the "Discovery Zone"). The primary objective will be to test for mineralized pegmatite along strike and to define the size and orientation of the Discovery Zone.
The detailed mapping and sampling campaign will provide guidance on the extent of the lithium mineralization at the Discovery Zone and identify other potential target areas on the sizeable primary exploration trend measuring 21 kilometres ("km") long.
About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 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. 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.
On February 28, 2024, the Company announced it had signed an option agreement which gives the Company the exclusive right and option for the acquisition of a
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 of Exploration for Q2.
About Q2 Metals Corp
Q2 Metals 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-per-cent-owned Mia lithium property.
In addition to the Mia lithium property, the Company expects to add the Cisco lithium property to its property portfolio once the property transaction closes. The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 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 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.
The Company's exploration advancement at its 8,668-hectare 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com
Jason McBride
Corporate Communications
Jason@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@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 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 include, but are not limited to, that the objective of the Spring 2024 Drill Campaign will test for mineralized pegmatite along strike and define the size and orientation of the Discovery Zone, that the detailed mapping and sampling campaign will provide guidance on the extent of the lithium mineralization at the Discovery Zone and identify other potential target areas on the sizeable primary exploration trend, that Q2 will add the Property to its property portfolio, that 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 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.
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FAQ
What is the focus of Q2 Metals' Spring 2024 Drill Campaign?
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When did Q2 Metals make the lithium discovery at the Cisco Property?
