Q2 Metals (TSX-V:QTWO) has intersected several spodumene pegmatites, including one continuous interval of 215.6m, within its Cisco Lithium Project in Québec, Canada.
Since the company’s last drilling update, a further four holes totaling approximately 1,520.6m of drilling has been completed, targeting the extension of the CO1 outcrop area towards CO3 and beyond.
A total strike length of 750m of spodumene-mineralised pegmatite has now been defined by drilling and remains open in all directions.
Q2 Metals says drillhole CS24-017 and CS24-018 were designed to test the CO4 and CO8 zones, which are southeast of the CO3 zone.
Drillhole CS24-018 encountered 12 spodumene pegmatite intervalues for 363.4m, including the continuous interval of 215.6m, recording the longest interval reported by Q2 Metals to date.
The company notes that this hole has defined the width of the mineralised spodumene pegmatite to 600m.
Further, drillhole CS24-017 encountered 22 spodumene pegmatite intervals for 195.9m.
Vice President of Exploration Neil McCallum says the company has only drill tested 10% of the total area of interest.
“We plan to continue to build scale by drilling in a systematic manner to understand the dimensions of what we have covered,” McCallum says.
“The scale of the 215.6m 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.”
Q2 Metals adds that ground sampling and mapping work has uncovered eight new mineralised outcrops within the area of interest for a total of 23 spodumene pegmatite zones now discovered on Cisco.
The area of interest has expanded to a 1.9km by 1.5km area.
Following this announcement, Q2 Metals’ share price increased 12.85% to $0.395.
Q2 Metals recently completed a private placement, adding a further C$4.3 million ($4.8 million) to its coffers. The total raised under the placement boosted the company’s cash balance to $6.9 million.
As a result, the company remains well funded for its summer-fall drilling program, which will focus on exploring for the possibility of the connection of the wide, continuous pegmatite zones encountered in drillholes CS24-018 and 10.
The drilling program will also focus on continuing to drill the surface mineralised area in a systematic grid-like manner with wide hole spacing, and infill drilling in areas with better results.
The Cisco Property encompasses 222 mineral claims covering 11,374 hectares. The property lies within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Q2 Metals
