Six months after acquiring the Cisco lithium property in northwestern Quebec, Q2 Metals (TSXV: QTWO; US-OTC: QUEXF) has drilled a 347-metre interval of continuous spodumene-pegmatite in what vice-president for exploration Neil McCallum calls “an absolute mindset shift for our team.”
The drill hole, CS24-021, was designed to test an area between two prior drill holes located about 300 metres apart— CS24-010, which returned a continuous interval of 120.3 metres at 1.72% lithium oxide (Li20), including 19 metres of 2.06% Li20, and drill hole CS24-018, which cut a 215.6-metre interval. (Assays are pending.)
“With the verification of a large and continuous mineralized body at the core of our drill-tested area,” McCallum noted, “our next steps will be to continue to expand upon our already excellent results.”
The company reported two other drill holes, CS24-019 and CS24-020. CS24-019 encountered 16 individual spodumene pegmatite intervals, with the widest measuring 56.8 metres. Drillhole CS24-020 intersected 17 spodumene pegmatite intervals with the widest stretching 22.2 metres.
“The Cisco property continues to deliver and exceed expectations,” CEO Alicia Milne stated in a news release Friday. “The latest visuals from holes 19 to 21 reveal thick intersections of spodumene-mineralized pegmatite with beautiful white core and large crystals, reaffirming Cisco’s immense potential and scale.”
Greenstone belt
The 114-sq.-km property in the Frotet Evans Greenstone Belt lies in the southern portion of Eeyou Istchee James Bay, about 150 km north of Matagami and 10 km east of the Billy Diamond Highway, which runs from Matagami to Radisson.
The company began drilling in May.
Assay highlights include drillhole CS24-007, which intersected 11 individual spodumene pegmatite intervals for a total cumulative width of 94.6 metres at 1.52% Li20, with the widest interval measuring 27.1 metres of 1.96% Li20 including 11.1 metres of 2.49% Li20.
Another hole, CS24-009, encountered five spodumene pegmatite intervals for a cumulative width of 115.9 metres at 1.48% Li20. The hole’s widest interval of 82.1 metres at 1.43% Li20 included 15.7 metres at 1.88% Li20.
Q2 Metals is advancing two other lithium projects in the James Bay district, Mia and Stellar.
Shares were down 3.5¢ or 4.5% at 73.5¢ in early afternoon trading. Over the last year Q2 Metals has traded in a range of 17.5¢ and 97¢ per share.
The junior has a market cap of $95 million.
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