VANCOUVER, BC / ACCESSWIRE / August 20, 2024 / Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (" Q2 " or the " Company ") announces that, as a result of a technical review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its technical disclosure as it pertains to the news release issued on August 19, 2024.
The Company previously reported the cumulative grades of drill holes CS-24-007 to CS-24-010 at the Company's Cisco Property over 'cumulative intervals' and 'cumulative metres.' This disclosure has been removed from the August 19, 2024 news release as well as all previously issued news releases that reported cumulative intervals and/or cumulative metres.
As such, the highlights of the Company's inaugural drilling campaign at the Cisco Property included:
CS-24-010: Widest interval of 120.3 m at 1.72% Li 2 O including 19.0 m at 2.06% Li 2 O
CS-24-007: Widest interval of 27.1 m at 1.96% Li 2 O including 11.1 m at 2.49% Li 2 O
CS-24-008: Widest interval of 19.3m at 1.75% Li 2 O including 6.2 m at 2.23% Li 2 O
CS-24-009: Widest interval of 82.1m at 1.43% Li 2 O including 15.7 m at 1.88% Li 2 O
The analytical results reported represent the first 1,017 m of drilling over four (4) holes of the 3,753 m that were drilled over 12 holes at the Cisco Property. Initial visual results of those four holes were reported by the Company on June 17, 2024.
The Spring 2024 Drill Campaign was designed to expand upon the 2023 drilling by the Property vendors. Hole CS-23-05 ("Hole 5") drilled by the Property vendor ended in pegmatite and assays results confirmed its widest interval of 48.0 m at 1.23% Li 2 O including 9.0 m at 1.73% Li 2 O.
Holes CS-24-009 and 010 ("Hole 10") were designed as 50 m westward step-outs from Hole 5. Assay results from these two holes confirmed wide intervals of spodumene pegmatite, with the widest interval reaching 120.3 m at 1.72% Li 2 O, including 19.0 m at 2.06% Li 2 O in Hole 10.
Complete highlighted intervals from holes CS-24-007 to 010 are summarized in Table 1 and represented in Figure 1. All intervals of greater than two (2) metres of core-length are included in the table. Internal dilution of non-pegmatite material was limited to intervals of less than five (5) metres. No specific grade cap or lower cut-offs were used during grade and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as the modelled pegmatite zones are being refined with every additional hole.
Table 1. Summary of Analytical Results of Spring Drill Holes at Cisco Property
Table 2. Summary of Drill Hole Collar Information, Cisco Property
Results from approximately 2,700 m of drilling eight (8) holes (CS-24-011 to CS-24-018) remain to be reported from the Spring 2024 Drill Campaign and will be released as soon as results are available. Drilling at the Cisco Property is ongoing and will continue into the fall of 2024.
About the Cisco Property The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares 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. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee 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.
Sampling, Analytical Methods and QA/QC Protocols As per the BCSC technical review, information required by sections 3.2 and 3.3 of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") that was inadvertently omitted has also been updated.
All drill core samples were shipped to SGS Canada's preparation facility in Val D'Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crushing to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps are then shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples are homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). The reported Li grade was multiplied by the standard conversion factor of 2.153 which results in an equivalent Li 2 O grade. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.
A Quality Assurance / Quality Control (QA/QC) protocol following industry best practices was incorporated into the sampling program. Measures include the systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split and reject-split duplicates was completed to assess analytical precision. The QP has verified the QA/QC results of the analytical work.
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 NI 43-101 and has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
About Q2 Metals Corp Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.
The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result that included 48 metres at 1.36% lithium oxide (hole CS-23-05).
