Q2 Metals (TSX-V:QTWO) is aiming to work towards a preliminary economic assessment (PEA) for the Cisco Lithium Project in Canada, amid awaiting more than 20 assay results from an ongoing drilling program.
Speaking to Mining.com.au, Corporate Development Chris Ackerman says the company aims to have an inaugural resource estimate by the end of Q1 2026, in which a PEA will follow thereafter.
“There will be no shortage of news coming from the company for the foreseeable future,” Ackerman says.
This news comes amid the company demonstrating Cisco’s growth potential via the ongoing 2025 drill program which is focused on infill drilling within the main mineralised zone that spans 1.5km along the northeast-southwest trending strike length.
During 2025, Q2 Metals launched an aggressive four-rig infill program, which is expected to enable the upcoming resource estimate.
Ackerman says among the highlights, intercepts include a 457.4m interval of continuous spodumene pegmatite.
“In July, we announced an exploration target on Cisco, that estimated 215 to 329 million tonnes at grades ranging from 1 to 1.38% lithium oxide, based on only the first 40 drillholes,” he says.
“On the heels of the exploration target, we completed a charity flow-through financing that raised C$26 million ($28.58 million).”
Ubiquitous objective
In parallel, the company continues prioritising permitting for a direct access road from the Billy Diamond Highway and ongoing First Nations and community engagement, as reported.
“It is a ubiquitous objective to maintain and expand upon those relationships as we advance Cisco along the development path,” Ackerman adds.
With funding in place, rigs spinning, assays incoming, and a 2026 resource on the horizon, Ackerman reiterates Q2 Metals is entering the most consequential phase in its short history.
The lithium market’s downstream processing segment, encompassing the conversion of raw lithium into battery-grade lithium hydroxide and carbonate, is experiencing a significant transformation, as Mining.com.au reported.
The critical battleground from now to 2030 is downstream conversion – refining into lithium hydroxide or lithium salts, cathode precursor manufacture, and battery recycling.
Due to its suitability for high-nickel cathode chemistries, lithium hydroxide is gaining prominence. The lithium hydroxide market is forecast to grow at a compound annual growth rate of 23.51% from 2024 to 2029, reaching 564.78 kilotons of lithium carbonate equivalent by 2029.
Recycling and direct lithium extraction (DLE) is also set to become increasingly important. Participants in industry roundtables consistently cite DLE as a technology frontier that could reshape cost and environmental profiles.
In 2030, PwC through its Strategy& network reports almost every second car sold will be a battery electric vehicle (BEV), leading to a demand increase for global batteries of 35%. Market growth is being driven by both increased BEV sales and increasing battery size per BEV.
Consequently, PwC says demand for the most relevant active materials, especially lithium, nickel, and graphite will grow steadily.
“We expect an increase from 400,000 up to 6,000,000 tons (by) 2030,” PwC reports.
Q2 Metals is a Canadian mineral explorer focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Q2 Metals
