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Q2 Metals Announces Completion of Drill-Core Re-Evaluation for the Cisco Lithium Property, James Bay Territory, Quebec, Canada

Q2 Metals Corp. ("Q2" or the "Company") is pleased to announce that the Company recently completed a review of the drill core from the drill program conducted by the property vendors at the Cisco Lithium Property (the "Property" or the "Cisco Property") in fall of 2023.

Figure 1. Core Photograph of Drill Hole CS-23-05. Image Credit: Q2 Metals Corp

"While we eagerly await access to the property, the team has been busy in the background reviewing the data and preparing for an exciting summer in the field," said Q2 Metals President and CEO Alicia Milne. "Details on our summer exploration plans will be announced in the coming weeks."

As part of the review, the geological team re-logged the six drill holes (1,287 metres ("m")) and ensured that all relevant intervals were sampled. The previously sampled drill-core was dispatched to SGS Canada for lab analysis and confirmation and the Company will report on results once received.

Q2 announced the 100% acquisition of the Cisco Lithium Property on February 29, 2024.

About the Cisco Project

The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares ("ha") in size. It is located less than 10 kilometres ("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 (Figure 2). 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.

Figure 2. Cisco Property - Regional Location.Image Credit: Q2 Metals Corp

During 2023 and 2024 the Property vendors discovered the lithium zone by collecting 28 rock samples, 21 of which returned over 1.0% Li2O (Figure 3). The results are within a 1.2 km by 1.5 km area, clustered into six separate mineralized zones.

Figure 3. Cisco Property - Exploration Summary. Image Credit: Q2 Metals Corp

In the fall of 2023, the Property vendors drilled six holes, totaling 1,287 m, at one of the six mineralized zones. The drilling confirmed a strike length of approximately 220 m and open along strike in both directions and down-dip. The first three holes were drilled towards the south and are interpreted to have undercut the mineralized pegmatite that is also dipping to the south, thus did not intersect the large outcrops that were observed from surface.

Limited follow up drilling successfully intersected multiple, wide spodumene-bearing pegmatites from surface (mapped in Figure 3, with complete results in Table 2). Including:

  • CS-23-05 consisting of five separate pegmatite intervals with a cumulative 115.4 m at 1.21% Li2O.
  • CS-23-06 consisting of three separate pegmatite intervals with a cumulative 57.8 m at 1.27% Li2O.
  • CS-23-04 consisting of a continuous interval of 31.5 m at 1.30% Li2O.

Due to drill rig issues, drill hole CS-23-05 ended in mineralized pegmatite and was followed up with hole CS-23-06 at a shallower dip (Figure 4). The result of the two holes from the same drill pad infers that the pegmatite is dipping to the south, and the intervals intersected are possibly the near true thickness of the mineralized pegmatite. Additional drilling will need to be conducted to confirm this theory.

Figure 4. Cross Section of Drill Holes CS-23-05 and 06. Image Credit: Q2 Metals Corp

The remainder of the Property is largely unexplored for its lithium potential and there may be more than one prospective greenstone belt on the Property (Figure 5). The Northern, Central and Southern lithium trends are each approximately 21, 13 and 3.5 km long, respectively.

Figure 5. Cisco Property Claim Block Map. Image Credit: Q2 Metals Corp

Table 1. Summary of 2023 Drilling.

Table 2. Mineralized Intercept Summary for 2023 Drill Holes.

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.


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