Q2 Metals (TSX-V:QTWO) is preparing to initiate an exploration target for the Cisco Lithium Project in Québec, Canada, following receiving the remaining assay results from the Canadian winter drilling program.
The Canadian mineral explorer has engaged independent consultant BBA Engineering to complete the exploration target, which will serve to set the expectation of the potential of the main mineralised zone.
Q2 Metals says the goal is to provide a conceptual estimate of the potential quantity and grade of a mineral deposit, based on known and additional limited geological evidence.
“It is an early stage assessment that will help to guide further exploration, but it is not a resource or reserve and should not be treated as such,” the company says.
At Cisco, assays of the remaining 10 drillholes have generated key information that will inform subsequent drilling programs.
Some of the results include 26.5m @ 1.25% lithium oxide; 33.9m @ 1.19% lithium oxide; and 49.4m @ 1.33% lithium oxide.
CEO Alicia Milne says Cisco continues to deliver and is taking shape as a “globally significant discovery”.
“We look forward to commencing work on an exploration target, which will provide early guidance as to Cisco’s potential scale, grade range and relative position among major hard rock lithium projects,” Milne says.
Vice President of Exploration Neil McCallum adds that crews are currently undertaking field mapping and sampling, with the first drill collar expected next week.
To date, 348 rock samples have been collected from the project, with several pegmatite intrusions being sampled.
Q2 Metals notes that although no visible spodumene was encountered, the results aim to guide additional follow-up work by focusing on areas with anomalous trace-element geochemistry such as rubidium, caesium or tantalum.
The fieldwork is expected to continue throughout the Canadian summer period.
The Cisco Project, covering 41,253 hectares, is located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Québec, Canada.
Global lithium demand is expected to grow by some 13% annually to 2030, as policy settings and improving technology drives rising EV adoption and battery energy storage system (BESS) deployment.
Electric trucks and other heavy-duty vehicles are expected to represent a growing share of global lithium demand over the outlook period. In China, electric truck sales rose by close to 150% in 2024 following extensive deployment of comparable battery swapping technology and infrastructure. China made up about 70% of global electric truck sales in 2023 according to estimates of the International Energy Agency (IEA).
Write to Aaliyah Rogan at Mining.com.au
Images: Q2 Metals
