Q2 Metals (TSXV:QTWO) has announced significant progress in its 2024 exploration program at the Cisco Lithium Property, located in the Nemaska traditional territory of the Eeyou Istchee James Bay region in Quebec, Canada. The company reported that recent drilling has yielded a 215.6-meter interval of continuous spodumene-pegmatite, marking a notable discovery as part of its ongoing efforts to define and expand the lithium-bearing zones on the property.
Alicia Milne, Q2 Metals President and CEO commented in a press release: “Our inaugural drill program at the Cisco Property is going exceptionally well and we’re excited about the mineralized pegmatite we continue to intersect. With the continued support of our shareholders, we are well funded and are looking forward to reporting on our assay results when they are received.
Neil McCallum, Q2 Metals VP of Exploration, also commented: The scale of the 215.6 metres of continuous pegmatite recovered in hole-18 has far exceeded our expectations and has confirmed our belief that the Cisco Property is potentially a world-class discovery. We have really only just started, having drill tested about 10-percent of our total area of interest based on the surface work and we plan to continue to build scale by drilling in a systematic manner to understand the dimensions of what we have uncovered.”
The latest update follows four additional drill holes, labeled CS24-015 to CS24-018, completed since the company’s previous report on July 3, 2024. These holes, covering approximately 1,520.6 meters, targeted extensions of the CO1 outcrop area towards CO3 and beyond. The drilling has defined a total strike length of 750 meters of spodumene-mineralized pegmatite, which remains open in all directions, indicating significant potential for further expansion.
Among the drill holes, CS24-018 stands out for encountering 12 intervals of spodumene-pegmatite, with a cumulative width of 363.4 meters. The most significant interval within this hole measured 215.6 meters, featuring many sections of coarse-grained spodumene. The hole ended at a depth of 506.7 meters within a spodumene-pegmatite interval, with the vertical depth from the surface estimated at approximately 320 meters.
The other drill holes also reported notable findings. CS24-015 encountered six intervals of spodumene-pegmatite with a cumulative width of 49.9 meters, including two intervals greater than 10 meters wide. CS24-016 encountered three intervals with a cumulative width of 23.7 meters, while CS24-017 encountered 22 intervals totaling 195.9 meters in cumulative width, with six intervals exceeding 10 meters.
These findings contribute to a growing understanding of the mineralized zones within the Cisco Property. The company has expanded its area of interest to 1.9 by 1.5 kilometers, where field crews have discovered eight new mineralized outcrops, bringing the total to 23 spodumene pegmatite zones identified on the property. The ongoing refinement of the modelled pegmatite zones is expected to yield further insights as drilling progresses.
The recently completed Spring 2024 Drill Campaign, which began in late May, aimed to confirm and expand upon the mineralized zone initially identified in 2023 by the property vendors. Over the course of this campaign, a total of 12 drill holes were completed, covering 3,752.8 meters. Earlier in the campaign, significant intervals of spodumene-pegmatite were reported, including a 194.8-meter cumulative width in drill hole CS24-010 and a 125.1-meter cumulative width in drill hole CS24-011.
As the company moves forward, it plans to commence a Summer-Fall Drill Campaign. This next phase will focus on exploring the potential connection between the wide, continuous pegmatite zones encountered in holes CS24-018 and CS24-010, which are approximately 300 meters apart. Additionally, Q2 Metals intends to continue systematic drilling across the large surface mineralized area using a grid-like pattern with wide spacing, and conduct infill drilling in zones with better results.
Q2 Metals is well positioned to continue its exploration efforts, having recently secured $6.88 million in financing. The company, which holds a 100% interest in the Cisco Lithium Property, sees district-scale potential in the area, given its proximity to known lithium deposits such as Sirmac and Moblan. The property, covering 222 mineral claims over 11,374 hectares, lies within the Frotet Evans Greenstone Belt, which hosts significant lithium mineralization.
As the exploration continues, Q2 Metals remains focused on unlocking the potential of its portfolio of lithium projects in the Eeyou Istchee James Bay region, with the Cisco Property emerging as a key asset in its pursuit of becoming a significant player in the lithium sector. Analytical results from the drill holes are expected to be released as soon as they become available, offering further insights into the property’s potential.
Highlights from the results are as follows:
Four (4) additional drill holes for approximately 1,520.6 metres (m) have been completed at the Cisco discovery area (CO1 Zone) and the CO3 Zone, located 750 m south-west. Holes 17 and 18 are testing the CO4 and CO8 Zones, located south-east of the CO3 Zone.
Drill hole CS24-018 encountered 12 spodumene-pegmatite intervals for a total cumulative width of 363.4 m, including one continuous interval of 215.6 m, the longest interval announced by the Company to date.
Drill hole CS24-015 encountered six (6) individual spodumene pegmatite intervals, for a total cumulative width of 49.9 m.
Drill hole CS24-016 encountered three (3) spodumene pegmatite intervals, for a total cumulative width of 23.7 m.
Drill hole CS24-017 encountered 22 spodumene pegmatite intervals for a total cumulative width of 195.9 m.
Ground mapping and sampling has also confirmed the discovery of eight (8) additional spodumene-mineralized outcrop zones at surface in the area of interest which measures 1.9 by 1.5 kilometres (km).
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I’ve contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.
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