Q2 Metals (TSXV:QTWO) announced its first mineral resource estimate for the Cisco lithium project, establishing 295 million tonnes of inferred mineral resources at 1.36% lithium oxide in Quebec's James Bay region.
"Today's announcement of our inaugural MRE marks a significant milestone for Q2 and the Cisco Lithium Project," Alicia Milne, Q2 president and CEO, stated. "Cisco is located in Quebec, Canada – a top global mining jurisdiction – and its size and grade position it among the top hard rock lithium projects, globally."
The Vancouver-based exploration company revealed the milestone assessment shows a continuous spodumene pegmatite body extending 1.8 kilometers in strike length with thickness ranging from two meters to over 450 meters. Independent consultant BBA completed the estimate using data from 75 drill holes representing 33,343 metres of drilling through the winter 2026 program.
The resource breaks down into 270 million tonnes for open-pit mining at a 0.4% cut-off grade and 24 million tonnes for underground operations at a 0.7% cut-off grade. Combined, the deposit contains 9.9 million tonnes of lithium carbonate equivalent.
BBA also prepared an exploration target estimating 44 to 67 million tonnes of additional mineralized material with grades between 0.88% and 1.35% lithium oxide in areas immediately surrounding the current resource. The company emphasized this target remains conceptual and requires further drilling to establish as a formal mineral resource.
MRE establishes Cisco as leading pegmatite asset: Executive
"This inaugural inferred mineral resource estimate firmly confirms Cisco as a leading spodumene pegmatite asset, with significant additional exploration upside and clear potential for continued growth across the broader project area," Neil McCallum, the company's vice president of exploration, commented.
The geological model reveals the deposit extends over 600 metres in depth and remains open in all directions. Current dimensions span roughly 1,800 metres in length by up to 1,020 metres in width, representing only a small fraction of the 41,253-hectare project area.
Q2 Metals acquired the Cisco Project on February 29, 2024, and has since focused on establishing it as a cornerstone asset. The company worked with core contractors including Dahrouge Geological, Youdin Rouillier Drilling and Helicarrier to advance the project through systematic exploration.
The resource estimate used both open-pit and underground mining constraints based on a spodumene concentrate price of US$1,500 per tonne and an exchange rate of 0.70 USD/CAD.
Looking ahead into 2026
Looking ahead, Q2 Metals plans to shift focus toward resource expansion and infill drilling with objectives to deliver an updated mineral resource estimate later this year. The company will simultaneously initiate baseline environmental studies and advanced metallurgical testing to support ongoing development.
"Since announcing the acquisition of the Cisco Project on February 29, 2024, we have delivered on our objective of establishing it as a cornerstone asset for Q2," Milne noted. "Today's MRE validates that strategy, and we believe Cisco has the scale, quality, and infrastructure advantages to support long-term value creation."
More information is available at www.Q2Metals.com
April 22, 2026
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