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Q2 Metals Completes Closing of Option Agreements for the Acquisition of the Large-Scale Cisco Lithium Property Located in James Bay, Quebec
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OT...
About this update from Q2 Metals Corp
[{"type":"text","content":"Q2 Metals Completes Closing of Option Agreements for the Acquisition of the Large-Scale Cisco Lithium Property Located in James Bay, QuebecVancouver, British Columbia--(Newsfile Corp. - June 13, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) (\"Q2\" or the \"Company\") announces that, further to its news release on February 29, 2024, the Company has completed the closing of three individual option agreements that were each entered into on February 28, 2024, as amended on June 12, 2024 (the \"Option Agreements\"). Under the terms of the Option Agreements, the Company was granted the exclusive right and option to acquire a 100% interest in three groups of mineral claims collectively known as the Cisco Property, located in the southern portion of Eeyou Istchee James Bay, Quebec, Canada. About the Cisco PropertyThe Cisco Property is comprised of three groups of mineral claims, the Broadback claim block, the Cisco claim block and the Ouagama claim block, collectively consisting of 222 mineral claims and totaling 11,374 hectares (\"ha\") in size. It is located less than 10 kilometres (\"km\") east of the Billy Diamond Highway, and approximately 150km north of Matagami, a small town that contains the closest rail link to much of James Bay (Figure 1). The Cisco Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.Figure 1. Cisco Property Claim Block MapTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1454/212953_58dcc881f458b87f_004full.jpgThe Cisco 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 130km and 180km away, respectively. Exploration work completed on the Cisco Property by the property vendors in 2022 and 2023 identified a mineralized zone and the Company's re-assay of the six drill holes completed by the property vendors confirmed a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites:Table 1. Results of re-analysis for the 2023 Cisco drillingTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/...