Q2 Metals (TSXV:QTWO | OTCQB: QUEXF | FSE: 458) has expanded its exploration and drilling activities at the Cisco Lithium Project, located in the Eeyou Istchee James Bay region of Quebec, following the completion of a $26 million flow-through private placement financing on August 14, 2025. The project area falls within the greater Nemaska traditional territory and comprises a total of 801 claims across 41,253 hectares.

Alicia Milne, President & CEO of Q2 Metals, commented in a press release: “Strong institutional support enabled us to complete the $26 million financing in August, which has allowed us to significantly ramp-up activities at Cisco. These funds have enabled Q2 to greatly accelerate our drill program, continue regional mapping and sampling programs, and expand on metallurgical test work. With three drill rigs now operating, our immediate focus is to advance the Cisco Project towards an initial inferred Mineral Resource estimate.”

Highlights from the results are as follows: 

• $26 million flow-through financing completed in August 2025.
• Drilling at the Cisco Project has been ongoing since June 2025, and a total of 46 holes for 20,138 metres has been drilled to date. Assays are pending on all drill holes completed this summer.
• Three (3) drill rigs are currently operating at Cisco with a fourth expected to commence operation in November.
• Current drilling is focused on infill scale spacing of the main mineralized zone as the Company works towards an initial inferred Mineral Resource estimate at Cisco.
• Additional metallurgical test work is ongoing.
• Regional geological sampling and mapping work continues.

The Cisco Project, which Q2 describes as having district-scale potential, has become the focal point of a significantly expanded summer 2025 exploration campaign, particularly around a known northeast-southwest trending mineralized zone stretching approximately 1.5 kilometers. This zone has been under active investigation since June 2025 and is now being tested more intensively with three drill rigs on-site. A fourth drill rig is expected to commence operations in November 2025.

Drilling Program and Exploration Target

The summer drilling program was initially launched using a single drill rig, with a primary focus on infill drilling along the mineralized strike length. As of early September, three rigs are active on-site, increasing the intensity and density of drilling aimed at tightening the existing drill spacing. This work is intended to support an initial inferred Mineral Resource estimate under National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).

The project’s mineralized zone is being evaluated based on an Exploration Target prepared by independent consultant BBA Inc., which estimates a potential range of 215 to 329 million tonnes of lithium-bearing material grading between 1.0% and 1.38% lithium oxide (Li₂O). Q2 Metals notes that this estimate is conceptual in nature. The company also emphasized that there has been insufficient exploration to define a Mineral Resource at this time, and it remains uncertain whether future work will support a formal resource delineation.

In addition to infill drilling, the company’s expanded program includes testing of additional outcrop zones, aided by geophysical targeting. Orientation-style geophysical surveys have already been conducted over a section of the Mineralized Zone to evaluate the effectiveness of these methods in guiding exploration. Further geophysical work may be expanded based on the results of these preliminary surveys.

Metallurgical Testing

In parallel with drilling, Q2 is conducting metallurgical testing to assess the recoverability of lithium from core samples. Preliminary results from the first phase of test work, carried out by SGS Canada Inc. on samples collected during the 2024 drill program, have confirmed that strong recoveries are possible using a dense media separation (DMS) circuit.

A second phase of metallurgical testing is now in the planning stage and is expected to begin in September 2025. This next phase will build upon the initial findings and is intended to provide more comprehensive data on processing characteristics.

Q2’s geology team is also continuing with a regional mapping and rock sampling initiative across the broader Cisco Project area. The objective of the regional work is to identify additional zones of interest within the 41,253-hectare land package. Rock samples from these newly assessed areas have been submitted to a laboratory, and results are currently pending.

The mapping work is aimed at refining exploration targets that could be incorporated into future drilling campaigns. The company has indicated that if the orientation-style geophysical surveys currently underway prove effective, they may be extended to other parts of the project.

The Cisco Project is located approximately 6.5 kilometers from the Billy Diamond Highway, which runs through the project area, providing direct road access. The town of Matagami, which serves as the railhead of the Canadian National Railway, lies about 150 kilometers to the south. This proximity to infrastructure may have implications for future development potential, although the project remains in early-stage exploration.

Q2 Metals is continuing its exploration activities with an eye toward completing an initial inferred Mineral Resource estimate. Rolling assay results from the ongoing drill campaign are expected in the coming weeks and months. The company has indicated that mineralization at the Cisco Project remains open at depth and along strike, suggesting the potential for further expansion.

 

 

 

 

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).

 

 

 

 

 

Q2 Metals (TSXV:QTWO) has announced the extension of a mineralized zone to 750 meters at its Cisco Lithium Property in Quebec’s James Bay region. The company reported this development as part of its ongoing 2024 exploration program.

Neil McCallum, Q2 Metals VP of Exploration, commented in a press release: “Our Spring 2024 drill program has advanced extremely well in a short amount of time. Every hole drilled this campaign has intersected mineralized pegmatite and we are eager to continue to define and expand on the scale of Cisco and its potential to be a significant deposit.”

The Spring 2024 Drill Campaign, which began in May, aimed to confirm and expand upon the mineralized CO1 Zone identified by previous property vendors in 2023. Initial results from drill hole CS24-010, announced on June 17, 2024, revealed significant spodumene-pegmatite intervals, including five spans greater than 10 meters wide, with a total mineralized interval of 194.8 meters.

Recent drilling has further extended the known mineralization. Four additional holes (CS24-011 to 014), totaling approximately 1,215 meters, targeted the area between the CO1 and CO3 outcrops. These new results have helped define a spodumene mineralized pegmatite with a strike length of 750 meters, which remains open in all directions.

The company noted that the mineralized intervals encountered do not represent true width, and the modeled pegmatite zone is being refined with each new hole. The drilling program has confirmed that mineralization continues between the CO1 and CO3 outcrop zones, with pegmatite bodies trending roughly 45 to 60 degrees in a northeast-southwest direction. This verification has implications for potential mineralization continuity across a larger 1.1 by 1.7 kilometer area. Q2 Metals plans to continue testing the mineralization along strike in both directions within the CO1-CO3 Zones before moving on to other surface-mineralized areas, including the CO2 outcrop located approximately 1.2 km east of the CO1 Zone.

The Cisco Property, comprising 222 mineral claims over 11,374 hectares, is situated in the Frotet Evans Greenstone Belt of the southern James Bay Lithium District. This geological setting also hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.

All rock and drill core samples from the project are being processed at SGS Canada’s preparation facility in Val D’Or, Quebec, with final analysis conducted at their laboratory in Burnaby, BC. The company has implemented a quality assurance and quality control protocol following industry best practices.

As exploration continues, Q2 Metals aims to further define and expand the lithium potential of its properties in this emerging lithium district.​​​​​​​​​​​​​​​​

Highlights from the results are as follows:

• Four (4) additional holes for approximately 1,215 metres (m) have been drilled at the Cisco discovery zone (CO1 Zone) as drilling continues to the CO3 Zone, located 750 m southwest, confirming and extending previously encountered mineralization.
• Drill hole CS24-011 encountered six (6) individual spodumene pegmatite intervals, for a total cumulative width of 125.1 m.
• Drill hole CS24-012 encountered eight (8) spodumene pegmatite intervals, for a total cumulative width of 78.1 m.
• Drill hole CS24-013 encountered twelve (12) spodumene pegmatite intervals for a total cumulative width of 120.0 m.
• Drill hole CS24-014 encountered thirteen (13) spodumene pegmatite intervals for a total cumulative width of 131.6 m.

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.

Q2 Metals (TSXV:QTWO) has announced the commencement of the 2024 inaugural drill program at the Cisco Lithium Property, located within the Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada. The Spring 2024 Drill Campaign aims to test the mineralized zone where the property vendors made a discovery in the fall of 2023, known as the Discovery Zone.

The primary objective of the drill program is to test for mineralized pegmatite along strike and define the size and orientation of the Discovery Zone. Concurrently, a detailed mapping and sampling campaign is ongoing at the property to 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 kilometers long.

The Cisco Property, comprised of 222 mineral claims and spanning 11,374 hectares, is situated less than 10 km east of the Billy Diamond Highway and approximately 150 km north of Matagami, a small town with 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.

Geologically, the Cisco Property is located along the Frotet Evans Greenstone Belt, which is comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks. This belt is part of the southern James Bay Lithium District and hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away from the Cisco Property, respectively.

On February 28, 2024, Q2 Metals Corp. announced the signing of an option agreement granting the company the exclusive right and option to acquire a 100% interest in three groups of mineral claims, collectively known as the Cisco Property. The transaction is expected to close in the near future.

As the Spring 2024 Drill Campaign progresses, the company aims to gain a better understanding of the lithium mineralization at the Cisco Property and its potential for future development. The results of the drill program and the ongoing mapping and sampling campaign will provide valuable insights into the property’s geological characteristics and guide future exploration efforts in the area.

 

 

 

 

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.

Q2 Metals (TSXV:QTWO) recently reported the core assay results from its first drill program, which took place in the fall of 2023 at its wholly owned Mia Lithium Property in the Eeyou Istchee James Bay Territory of Quebec. The property spans over 8,668 hectares.

The inaugural drilling focused on the Mia Lithium Exploration Trend, approximately 10 kilometers long, situated 22 kilometers from the Billy Diamond Highway. This location is near major hydro-powerline and all-season road infrastructure, enhancing the site’s accessibility and potential development viability.

Neil McCallum, VP Exploration, commented in a press release: “Core assay results received to date indicate our 2023 drill program was successful in confirming spodumene mineralization in the pegmatites at the Mia Property. Using innovative targeting methods, our 2023 drill program on the Mia Trend has revealed that pegmatites are in some cases complex and variably mineralized at depth and in other cases, such as at Mia-1/2 and Carte, the pegmatite bodies have a simple geometry and consistent mineralization. We are very encouraged with these first drill results and believe we have only just begun to unlock the potential of the Mia Property.”

The Mia Trend features a series of sub-parallel pegmatite intrusions, including 11 zones where spodumene mineralization has been demonstrated. These pegmatite bodies vary significantly in thickness, ranging from a few meters to more than 20 meters in some instances.

The drilling campaign involved 31 drill holes totaling about 5,601 meters. Operations were conducted using two rigs; one rig focused on the main Mia 1, 2, and 3 zones, drilling 17 holes, while the other rig worked on the Carte Zone with eight holes and tested other parts of the Mia Trend with six holes across zones Mia 7, 8, and 9.

The most significant findings came from the Mia Zone, where the pegmatite zone showed continuous spodumene mineralization. This zone is characterized by a gentle northward dip, with mineralization thickness ranging between 8 and 20 meters. The pegmatite extends approximately 600 meters east-west and about 375 meters north-south, and it remains open to expansion to the west, east, and north.

In the Carte Zone, drilling confirmed spodumene mineralization as well. The mineralized pegmatite in this area surfaces and dips gently to the northwest. It ranges from 5.8 to 7.3 meters in thickness and stretches approximately 170 meters in a northeast-southwest direction, with intersections down to a depth of about 65 meters.

These findings underscore the potential for additional discoveries within the larger Mia Trend, considering the wide spacing of between 500 meters and 2.8 kilometers between drill holes. This initial exploration suggests the presence of significant lithium-bearing mineral resources, which could play a crucial role in supporting the growing demand for lithium, primarily driven by the electric vehicle and battery storage markets.

Highlights from the results are as follows:

• Confirmed presence of wide spodumene-mineralized pegmatites containing high grade intervals at the Mia and Carte zones:

• Mia Zone – 17.8 m at 1.51% Li₂O, including 12.2 m of 2.16% Li₂O (MIA23-004)

• Carte Zone – 7.3 m at 0.94% Li₂O, including 4.4 m of 1.40% Li₂O (MIA23-007)

• Continuity of mineralization at the Mia 1 & 2 zones.

• Core assay results remain to be reported for the 20 drill holes from the Company’s approximately 3,085 m Winter 2024 Drill Program.

 

 

 

 

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.