Q2 Metals Corp.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
Suite 904 – 409 Granville Street Vancouver, BC Canada V6C 1T2 |
| Tel No.： | 1-800-482-7560 |
| Web Site： | www.q2metals.com |
| E-mail： | info@q2metals.com |
| Contact Person： | Jason McBride |
| Position： | Corporate Communications |
| Traded Market： | TSX-V | OTCQB | FSE |
| Traded Symbol： | QTWO | QUEXF | 458 |
| Outstanding Shares： | ~ 76 Million |
| 52 Week High： | $ 1.23 |
| 52 Week Low： | $ 0.08 |
| Present Price： | Click Here |
Q2 Metals is a Canadian mineral exploration company currently advancing exploration of its 8,668-hectare flagship Mia Lithium Property in the James Bay area of Quebec, Canada, which is host to the Mia Li-1 and Mia Li-2 occurrences which grade 0.47% Li2O (lithium oxide) and 2.27% Li2O, respectively. The Company also owns the Stellar Lithium Property with 77 claims totalling 3,972 ha, located approximately six kilometres north of its Mia Lithium Property in James Bay.
Q2 is also exploring the highly prospective Big Hill and Titan gold projects located in the historic goldfields of Queensland Australia, covering approximately 110 sq. km in the Talgai Goldfields of the broader Warwick-Texas District, hosting 54 high-grade historical gold mines.
Mia Lithium Property, James Bay, Quebec
- Quebec is a highly supportive provincial government, including direct project investments.
- Major discoveries in the region are transforming the James Bay region into a world class lithium jurisdiction
- Allkem (James Bay Project)
- Vision Lithium (Sirmac Project)
- Sayona (Moblan Project)
- Patriot Battery Metals (Corvette Project)
- Never explored specifically for Lithium. Historically explored for gold and base metals.
- Key Dates: Field program targeted for May 2023 and drill program July 2023.
Location
- 171 mineral claims comprising 86 sq. km. Located 62 km east of Wemindji Community in the Eeyou Istchee Territory, James Bay, Quebec.
- Hosted by the spodumene-bearing Vieux Comptoir-3 granitic unit – same mapped rock type as Patriot Battery Metals Corvette discovery.
- Located within a greenstone belt and host to three historically documented lithium pegmatite occurrences in the prolific James Bay region of Quebec.
- Geological setting is highly prospective for additional lithium-cesium-tantalum (LCT) pegmatites.
Mineralization
- Lithium mineral showings located ~10 km from nearest highway.
- 18 outcrop grab samples (from 2021 and 2022) confirm the Mia Li-1 occurrence with results averaging 2.65% Li2O.
- 3 outcrop grab samples from 2022 confirm the spodumene observations at the Carte 1879 occurrence with results averaging 1.65% Li2O.
- A trend of approximately 7 km of unsampled pegmatite between the two mineralized occurrences is highlighted as a significant area to be followed up in 2023.
Stellar Lithium Property, James Bay, Quebec
- 77 claims totalling 3,972 hectares approximately 6 km north of the flagship Mia Lithium Property.
- Additional property represents a 46% increase to the total size of Q2’s land position in this highly prospective region of a top global mining jurisdiction.
- Contains a strike-length of approximately 13 km of the equivalent Yasinski Group volcano-sedimentary (greenstone belt) rocks.
- Potential for spodumene-bearing pegmatite, due to the regionally mapped greenstone belt rocks on the property.
2023 Exploration Timeline
March – April:
- Targeting geophysics work at Mia Lithium Property
June – August
- Surface mapping and rock sampling at Mia and Stellar Lithium Property
July – September
- Inaugural 10,000 m drill program at Mia Lithium Property
Lithium Commodity Outlook
- Lithium is defined as a critical mineral by both the Canadian and US governments with mandate to secure domestic supply.
- Canada and the US entered a pact to secure critical minerals, including lithium.
- Canadian Government introduced a new 30% Critical Mineral Exploration Tax Credit.
- Key component for EV batteries and EV penetration rates is primary determinant of lithium’s demand forecasts.
- 25-35% penetration by CY2030; compared to 8% in CY2021
- Global deficit up to 26 kilotonne lithium carbonate equivalent (kt LCE) in 2027, increasing exponentially year over year afterward.
Q2 – Quebec to Queensland
- Acquired in December, 2021 the Big Hill and Titan gold projects located in the historic goldfields of Queensland Australia with a total land position covers 110 sq. km in the Talgai Goldfields of the boarder Warwick-Texas District and hosts 54 high-grade historical gold mines.
- 2022 field exploration program: Surface work for drill target identification, sampling and channel cutting. An 11 hole (1,457m) RC drilling program targeted extensions to mineralization below historic underground workings at the Queenslander prospect. Assay results returned moderate grade intercepts across the vein system however did not intersect the higher-grade shoots reported in historical records.
- 2023 exploration: Explore historical workings on both exploration permits. Initial focus on mapping and sampling around the historical workings in EPM 27507 and EPM 18255.
On April 26, 2023, Q2 Metals announced that it has completed Phase 1 of the 2023 exploration campaign at the Mia Lithium Property. Surface geophysics, consisting of Induced Polarity and Resistivity (IP-Resistivity) surveying is complete on the western half of the approximately 8-km long lithium exploration trend.
On May 31, 2023, Q2 Metals Corp. announced that it has initiated Phase 2 of the 2023 exploration campaign, including surface mapping/prospecting, rock sampling, airborne magnetic and LiDAR surveys at the Mia property. Q2 geologists have mobilized to the camp and will immediately begin work on the approximately 8-km long lithium exploration trend.
The Company has secured all the required drilling and helicopter contracts for its inaugural 10,000 m drilling program this summer at the Mia Property.
Management and Directors
Alicia Milne, Chief Executive Officer, President & Director
Over 20 years as a legal professional and a specialist in securities and corporate administration of public companies
Experience with various companies listed on NYSE, TSE and TSX Venture Exchange
Jody Bellefleur, CPA, CGA, B.Com., Chief Financial Officer and Director
Over 25 years as a corporate accountant and for the last 15 years has focused solely on public companies
Neil McCallum, Vice President of Exploration, Director
Professional geologist with over 18 years of experience in North America
Involved in the identification and acquisition of early-stage lithium projects for over 7 years across North America
In 2016, Mr. McCallum identified and staked the Corvette property (now owned by Patriot Battery Metals)
Kevin Bottomley, Director
Accomplished capital markets advisor, successfully raising over $100M over the span of 15 years
Leo Power, BA, MBA, MOGS, ICD.D, Director
Established businessman in Newfoundland and Labrador
Simon Cohn, Director
Mining Engineer with over 25 years of experience in the natural resources sector
Director and Co-founder of Mining Projects Accelerator (MPX)
Jason McBride, Corporate Communications
Over 10 years of experience in communications and marketing for publicly traded and private sector companies
On April 25, 2024, Q2 Metals Corp. has released core assay results of the inaugural drill program completed in fall of 2023 at the company's wholly owned, 8,668-hectare Mia lithium property located in the Eeyou Istchee James Bay territory of Quebec. The targeted drill area for the inaugural program was the approximately 10-kilometre-long Mia lithium exploration trend which is located 22 kilometres from the Billy Diamond Highway, proximal to major hydro power line and all-season road infrastructure.
Neil McCallum, vice-president, exploration, stated: "Core assay results received to date indicate our 2023 drill program was successful in confirming spodumene mineralization in the pegmatites at the Mia property. Using innovative targeting methods, our 2023 drill program on the Mia trend has revealed that pegmatites are in some cases complex and variably mineralized at depth and in other cases, such as at Mia-1/2 and Carte, the pegmatite bodies have a simple geometry and consistent mineralization. We are very encouraged with these first drill results and believe we have only just begun to unlock the potential of the Mia property."
The Mia trend comprises an approximately 10 km long series of subparallel pegmatite intrusions, of which there are 11 demonstrated spodumene mineralized zones. The individual pegmatite bodies vary in thickness, between a few metres and over 20 m in some cases.
On March 08, 2024, Q2 Metals Corp. has received the TSX Venture Exchange accepted for filing documentation with respect to the arm's-length acquisition of three individual property option agreements to acquire a 100-per-cent interest in three contiguous claim blocks (Cisco, Broadback and Ouagama) collectively known as the Cisco property, located in the Eeyou Itschee James Bay region in Quebec. Combined consideration for all three agreements is $2.4-million cash, 60 million common shares and $12-million in exploration expenditures over a four-year term.
On January 22, 2024, Q2 Metals Corp. has commenced its 2024 winter drill program at its wholly owned, 8,668-hectare Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec. Highlights:
- The 2024 winter drill campaign at the Mia Lithium Property is targeting 4,000 m with potential to expand the campaign.
- Two (2) drill rigs will be utilized for the Winter Drill Program. Core assay results remain to be reported for 31 drill holes from the Company's inaugural drill program in the fall of 2023.
The first hole of the Winter Drill Program was collared on January 18th and drilling has started at the west end of the more than 10-kilometre-long Mia Lithium Exploration Trend (the "Mia Trend") which is located 22 km from the Billy Diamond Highway, proximal to major hydro-powerline and all-season road infrastructure.
"We anticipate a busy year ahead, starting with our Winter Drill Program which will assist us in gaining a deeper understanding of the Mia property and the 11 mineralized zones identified within the more than 10-kilometre-long Mia Trend," said Q2 Metals President and CEO Alicia Milne.
On December 20, 2023, Q2 Metals Corp. has provided an update on its inaugural drill program at its wholly owned, 8,668-hectare (ha) Mia lithium property located in the Eeyou Istchee James Bay territory of Quebec. The current target drill area is the approximately 10-kilometre-long Mia lithium exploration trend which is located 22 km from the Billy Diamond Highway, proximal to major hydro-powerline and all-season road infrastructure. Highlights:
- Drilling at the MIA 1 zone has defined multiple stacked continuous shallowly dipping spodumene-bearing pegmatite bodies.
- The potential of the MIA 1 zone is demonstrated by drill holes MIA23-008 and MIA23-011, with aggregate core intervals of 17.17 metres and 31.8 m, respectively, of mineralized pegmatite over several intervals.
- There has been sufficient drilling at the MIA 1 zone that models approximately 250 m long (north-south) by 90 m wide (east-west) and eight m to 10 m thick (core length), and is interpreted to be up to 300 m wide, open to the north, west and extending eastward toward the MIA 2 zone.
- Drilling at the Carte zone has defined two stacked shallowly dipping spodumene-bearing pegmatite bodies with the near-surface pegmatite body ranging in thickness between 3.4 m and 7.3 m (core length).
- A total of 31 holes, for approximately 5,601 metres was completed over the Mia trend this fall.
- The Mia trend covers approximately 10 km of the Mia property. During the fall mapping program, nine additional pegmatites were identified that contained visual spodumene. The multiple mineralized zones defined along the Mia trend will be drill tested in 2024.
"The fall drill program at the Mia property has provided meaningful intercepts, demonstrating connectivity along the Mia trend. Our team has done an excellent job on the ground and were able to drill significant metreage considering the delays getting on the ground due to the fires this summer," commented Alicia Milne, president, chief executive officer and director of the company. "The drill program has progressed well and we look forward to providing further updates as assays are received."
On December 13, 2023, Q2 Metals Corp. has released the results from the 2023 surface exploration program on its wholly owned, 8,668-hectare Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec. The Property is host to the approximately 10-kilometre-long Mia Lithium Exploration Trend (the "Mia Trend") and is situated proximal to major hydro-powerline and all-season road infrastructure. Highlights:
- Validation of Eight (8) new mineralized discoveries including:
- The new Mia-3 Zone with six (6) samples averaging 1.50 per cent Li2O
- The new MIA-5 Zone with three (3) samples averaging 0.78 per cent Li2O
- The new MIA-8 Zone with nine (9) samples averaging 2.07 per cent Li2O
- The new MIA-9 Zone with three (3) samples averaging 1.90 per cent Li2O
- Five (5) spodumene-bearing boulders discovered beside the Carte Zone.
- Twenty-six (26) samples from the Mia Trend returned lithium assays above 1.00 per cent Li2O.
- Eleven (11) mineralized zones have now been defined along the Mia Trend.
- Field sampling assays have identified new spodumene bearing pegmatites and continue to confirm mineralization throughout the > 10 km long Mia Trend.
- Discovery of a new trend (Lady Trend) approximately 1.2 km south and parallel to the Mia Trend.
- Q2 remains well funded which will enable the Company to focus on advancing the new lithium pegmatite discoveries at the Mia Property.
On December 04, 2023, Q2 Metals Corp. has received total proceeds of $2,011,425 for exercised warrants that were issued pursuant to the private placement that closed on Dec. 1, 2021. In total, 8,045,700 warrants were exercised by shareholders. The aggregate proceeds received from the exercise of warrants will be used for working capital purposes.
"We truly appreciate our shareholders and their continued endorsement and support of Q2 through the exercise of these warrants," said Q2 chief executive officer and president Alicia Milne. "This reflects shareholder confidence, improves our already-strong balance sheet and increases our financial flexibility."
On November 16, 2023, Q2 Metals Corp. has provided an update on phase 1 of its inaugural drill program at its wholly owned, 8,668-hectare Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec.
The primary objective of phase 1 of the drill program is to conduct initial drill testing of the Mia lithium exploration trend, commencing at the Mia zone on the west end of the Mia trend and continuing along the nearly 10-kilometre-long trend to the Carte zone. Phase 1 of the drill program will continue with one active drill rig at the Mia zone area and one active drill rig at the Carte zone area.
"It's exciting to have our drill program under way to begin testing our initial targets at the Mia trend," said Q2 chief executive officer and president Alicia Milne. "With the success of our condensed mapping and sampling program in September and the co-operation of the weather, the drill program will continue into December."
"Our initial drilling has vastly improved our understanding of the property, and, as we expected, the results show a series of stacked, parallel pegmatite bodies in a similar geometry as the James Bay deposit of Allkem Inc.," said Neil McCallum, Q2's vice-president, exploration. "We are interpreting this positively as drilling has also provided confirmation that the pegmatites are shallowly dipping at between 25 and 30 degrees."
On November 09, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length acquisition and termination of a 2-per-cent net smelter return (NSR) royalty held by Canadian Mining House (CMH) on the Mia property, located in the James Bay territory of Quebec.
Consideration is $1.65-million, with $500,000 due upon closing and the remaining $1.15-million payable in a combination of cash or shares at the company's election. No more than 1,388,888 shares may be issued.
On November 02, 2023, Q2 Metals Corp. has entered into an agreement with 9219-8845 QC Inc., a private Quebec company doing business as Canadian Mining House (CMH), to buy back the 2-per-cent net smelter production royalty held by CMH on certain claims comprising the 100-per-cent-owned Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec, subject to customary closing conditions and the approval of the TSX Venture Exchange. The NSR is a portion of a 3% Net Smelter Production Royalty (the "CMH NSR") held by CMH on certain claims comprising the Property.
"The buyback of the NSR is a yet another exciting step forward for Q2 as we progress with our inaugural drill program at Mia," said Alicia Milne, CEO and President of the Company. "We are well funded, and our field team is on-site with two active drill rigs for Phase 1 of our 10,000-metre drill program. We look forward to reporting both sampling and drill results as they are received."
On October 23, 2023, Q2 Metals Corp. has collared the first drill hole of its inaugural drill program at the 8,668-hectare Mia lithium property located in the Eeyou Istchee James Bay territory of Quebec.
Drilling has commenced at the west end of the Mia lithium exploration trend known as the Mia zone, with two active drill rigs at site focused on drilling the confirmed spodumene pegmatite outcrops in the area.
"It's amazing to have achieved this milestone with two drill rigs now turning at the Mia zone," said Q2 vice-president of exploration Neil McCallum. "Our team has done an outstanding job of adapting to different obstacles this exploration season and we're looking forward to learning more over the coming weeks and months as we continue drill testing the Mia trend."
It is anticipated that drilling will continue until weather conditions become unfavourable, and then return once again during frozen ground conditions in January, 2024. Youdin-Rouillier Drilling of Eastmain, Que., is contracted to complete the diamond drilling with Dahrouge Geological Consulting Ltd. of Edmonton managing the drill program.
On October 11, 2023, Q2 Metals Corp. has completed early the purchase agreement with 9219-8845 QC Inc., a private Quebec company (Canadian Mining House (CMH)), and certain investors in CMH for 100-per-cent ownership in the 8,668-hectare Mia lithium property located in the Eeyou Istchee James Bay territory of Quebec.
"This is an important milestone for Q2 Metals and reinforces our enthusiasm and commitment to the Mia Property," said Q2 President and CEO Alicia Milne. "We're delighted to now own the Property outright and are excited to commence our inaugural drill program next week."
The acquisition terms were announced by the Company on November 28, 2022 and can be found here.
On September 27, 2023, Q2 Metals Corp. has completed its surface mapping and rock sampling activities at the Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec. Initial fieldwork was completed on Sept. 15 and the company intends to begin its inaugural drill program in mid-October at the Mia zone.
Two (2) new spodumene occurrences have been discovered, in addition to the previous four (4) spodumene occurrences which were announced on September 13, 2023. With the previously known occurrences at Mia and Carte, there are now a total of nine (9) separate spodumene pegmatite zones within the Mia Exploration Trend.
A total of 192 individual pegmatite outcrops have been mapped along the Mia Exploration Trend (see Figure 1). Rock samples have been collected at these sites to confirm the presence of lithium or indicator elements which may suggest the presence of lithium nearby. The majority of the pegmatite outcrops along the Mia Exploration Trend exhibit a similar mineralogy and texture compared with the outcrops that have confirmed spodumene.
To date, 219 rock samples have been collected on the Property since re-mobilization and have been received by the SGS Canada preparation laboratory located in Val-d'Or, QC. The results will be reported as they are received by the Company.
On September 13, 2023, Q2 Metals Corp. has provided an update on its surface mapping and rock sampling activities at the Mia lithium property, located in the Eeyou Istchee James Bay territory of Quebec.
Four new spodumene pegmatite occurrences1 have been discovered on the Mia Exploration Trend (see Figure 1). Three of the outcropping pegmatite zones are located between the previously known Mia and Carte mineralized zones (see previous Q2 announcement from June 29, 2023). The other new discovery is located 1,400 metres northeast of the Carte Zone, thus extending the distance between the lithium mineralized occurrences on the trend to 9.7 kilometres.
A total of 136 individual pegmatite outcrops have been mapped along the Mia Exploration Trend (see Figure 1). Rock samples have been collected at these sites to confirm the presence of lithium or indicator elements which may suggest the presence of lithium nearby. The majority of the pegmatite outcrops along the Mia Exploration Trend exhibit a similar mineralogy and texture compared with the outcrops that have confirmed spodumene.
To date, 212 rock samples have been collected on the Property since re-mobilization. The crew will continue the current mapping and sampling campaign until September 15. Following that, Q2 will return mid-October to begin its drill program starting at the Mia Zone. It is anticipated that drilling will continue until weather conditions become unfavorable, and then return once again during frozen ground conditions in January, 2024.
On June 29, 2023, Q2 Metals Corp. has provided mapping/prospecting and rock sampling results of its abridged exploration work program at the Mia lithium property located in the Eeyou Istchee James Bay territory of Quebec.
The recent two-day mapping and sampling work of the historically known lithium pegmatites at the Mia property resulted in the collection of 28 pegmatite samples. Six samples were collected from spodumene-mineralized pegmatite and the remaining 22 from non-mineralized pegmatite to broaden the understanding of the source-rock relationships, geochronology and/or zonation of the pegmatite.
The company has received permits from the relevant ministries for its inaugural drill campaign at the Mia property and has engaged Youdin-Rouillier Drilling of Amos, Que., to execute the company's inaugural drill campaign. Youdin-Rouillier Drilling is based in Eeyou Istchee James Bay and has recently been awarded the UL 2724 ECOLOGO certification program for suppliers of mineral exploration, which supports a commitment to social responsibility and a focus on environmental practices.
As soon as safe working conditions in the area allow for a return, the company intends to immediately commence drilling on the Mia zone, which represents the highest priority mineralized zone. The company is targeting between 8,000 and 10,000 metres of drilling this campaign, utilizing two drill rigs.
Simultaneously, the company will continue the mapping and sampling program on the Mia and Bruce trends along with the highest priority target zones from the property-wide targeting compilation.
"We continue to actively monitor the situation daily with our focus centred on the health and safety of the local community," said Q2 president and chief executive officer Alicia Milne. "We are well funded and have all of our permits and contracts in place. We are eagerly awaiting resuming our exploration program once the fire risk has subsided and we receive the green light from the Ministry of Natural Resources and Forests."
On June 05, 2023, Q2 Metals Corp. has noted that due to active forest fires in Northern Quebec, the Quebec Ministry of Natural Resources and Forests has banned forest access and closed all roads in the Eeyou Istchee James Bay region. As a result, the company has temporarily ceased field activities and the crew and equipment have been withdrawn from the Mia property and camp.
"Upon receiving the notice from the Ministry of Natural Resources and Forests, our focus is centered on the health and safety of the local community," said Q2 president and chief executive officer Alicia Milne. "Once the fire risk has subsided, we will resume our exploration program."
The company is actively monitoring the situation and will provide further updates as information becomes available.
May 31, 2023, Q2 Metals Initiates Phase Two of Exploration Work at Its Mia Lithium Property in James Bay, Quebec
Interview with Q2 Metals’ CEO Alicia Milne:
https://www.youtube.com/watch?v=nMMWB9tvqxI
April 26, 2023, Q2 Metals Completes the First Phase of Surveying at Its Mia Lithium Property, Quebec, Canada
April 3, 2023, Q2 Metals Commences Exploration Work at the Mia Lithium Property in James Bay, Quebec
March 2, 2023, Q2 Metals Outlines 2023 Exploration Program and Acquires 3900 Hectare Stellar Lithium Property in James Bay, Quebec
February 23, 2023, Q2 Metals Completes $10.25 Million Private Placement Financing
https://www.q2metals.com/news/q2-metals-completes-10-25-million-private-placement-financing/