VANCOUVER, BC / ACCESS Newswire / February 12, 2025 / Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) ("Q2" or the "Company") is pleased to announce the results of initial metallurgical testing on drill core samples collected from the 2024 drill program on the Cisco Lithium Project (the "Project" or the "Cisco Project") located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay, Quebec, Canada.
Initial mineralogical work was completed by SGS Canada on 16 drill core analytical pulp samples of pegmatite collected across seven (7) drill holes at the Cisco Project (specifically from drill holes CS23-010, 017, 018, 019, 021, 022, 023, see Figure 1). The purpose of the mineralogy work was to provide a preliminary characterization of the lithium pegmatite at Cisco and to orient the direction of subsequent mineral processing test work.
All samples were analyzed by X-ray diffraction ("XRD") for quantitative modal mineralogy. The samples that were submitted had representatively low, mid and high grades, with individual samples containing lithium between 0.53% and 3.8% Li 2 O (see Figure 2).
The results of the XRD analysis indicated average spodumene content of 17% within sample results, ranging between 6% and 39%. The remaining minerals in the samples include quartz, albite, microcline, muscovite and occasionally biotite and/or beryl. All minerals are present in common rations compared to other pegmatites in the James Bay Lithium District.
"Having spodumene as the only primary lithium-bearing mineral verified with a high-precision method like XRD is an important milestone for the Cisco Project, verifying our core observations of coarse-grained spodumene," stated Neil McCallum, VP Exploration of Q2. "We will be conducting further metallurgical testing of the mineralized zone at the Project to understand its amenability to HLS and DMS flowsheet work."
To follow-up the initial XRD analysis, samples are currently being prepared for additional metallurgical test work, including heavy liquid separation (HLS), dense media separation (DMS), magnetic separation, and flotation. The primary objective of the follow up preliminary metallurgical program is to evaluate the beneficiation of the currently defined mineralized zone at the Cisco Project with a traditional lithium pegmatite flowsheet. The goal of the proposed work is to produce a spodumene concentrate of greater than 6% Li 2 O with low iron content, at a maximum lithium recovery.
Figure 1. Location of mineralogical samples at the Cisco Property
Figure 2. Sample from Drill hole CS24-019
Corporate Update:
Q2 Metals announces the addition of Simon Gaivin and Chris Ackerman to its team:
Simon Gaivin - Community Relations: Mr. Gaivin is a committed professional in regional development and stakeholder engagement, with over 20 years of experience in community relations, partnership management and institutional representation. He has engaged with numerous noteworthy organizations over his career, including serving as a Director of the Université du Québec en Abitibi-Témiscaminque (UQAT) Foundation & Alumni Association, a professional at the Regional Conference of Elected Officials of Abitibi-Témiscaminque, and a lecturer at UQAT in regional development and marketing. Mr. Gaivin holds a graduate degree in Project Management from UQAT.
Chris Ackerman - Corporate Communications: Mr. Ackerman is a graduate of the UBC Faculty of Law and has extensive experience in both government and private industry, including fifteen years in mineral exploration. Prior to joining Q2 Metals, Mr. Ackerman was a founding member and spent over eight years as Vice President, Corporate Development at the Metallic Group of Companies which includes Metallic Minerals, Stillwater Critical Minerals and Granite Creek Copper. In 2016, he took the role of Sr. Business Development Advisor with the Yukon Ministry of Economic Development; a position primarily focused on promoting investment in the mining industry and previously spent 5 years heading up the Communications & IR department at Yukon-focused exploration companies.
"I'm pleased to welcome both Simon and Chris to Q2 as we continue to add and build upon the strength of our team. With Simon being from Rouyn-Noranda, Quebec, his understanding of local perspectives will contribute to the growth of our community initiatives," stated Alicia Milne, President & CEO of Q2. "Additionally, Chris comes to us with a strong and active background in corporate strategy, capital markets, communications and investor relations. I'm looking forward to working with them as we continue to move forward with the Project."
Upcoming Events:
OTC Metals and Mining Virtual Investor Conference:
Alicia Milne, Q2 Metals President & CEO and Neil McCallum, Q2 Metals VP of Exploration will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 12, 2025 at 8:30am PT | 11:30 am ET.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
The Company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event ("PDAC 2025") in Toronto, ON.
Q2 is exhibiting in the Investors Exchange from March 2 - 5, 2025 at booth number 2726 and will also be exhibiting core from the Cisco Lithium Project at the PDAC 2025 Core Shack on March 4 - 5, 2025.
For more information on PDAC 2025, please click here.
PDAC Quebec Day: Critical & Strategic: Mining in Québec
Q2 Metals is honoured to have been selected to provide a corporate spotlight presentation during Quebec Day at PDAC. Alicia Milne will present at 10:25am on March 4 th in Room 206D.
Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee Territory, James Bay, Quebec, where drilling is currently underway.
The Cisco Project is comprised of 767 claims, totaling 39,389 hectares. The main mineralized zone is just 6.5 kilometres ("km") away from the Billy Diamond Highway and transects the Project. The town of Matagami, which features direct rail link to much of James Bay, is approximately 150 km to the south.
The Cisco Project 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.
The Cisco Project has district-scale potential with an already identified mineralized zone and discovery drill results that include:
120.3 metres at 1.72% Li 2 O (hole CS-24-010);
215.6 metres at 1.69% Li 2 O (hole CS-24-018);
347.1 metres at 1.35% Li 2 O (hole CS-24-021); and
188.6 metres at 1.56% Li 2 O (hole CS-24-023)
Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.
Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 ("QP"), has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
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 regarding 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, proposed metallurgical test work to be conducted, , the possibility of future development and mining infrastructure scenarios, the potential for development, the potential scale of the Cisco Project, 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.
