Q2 Metals Corp. has announced the start of its 2026 Summer Exploration Program at the Cisco Lithium Project, located in the James Bay region of Quebec. This marks the largest field program to date at the site, with approximately 20,000 metres of drilling planned. The primary focus is on infill drilling of the main Cisco deposit area to convert Inferred resources to Indicated status, alongside significant expansion and regional exploration drilling on untested high-priority targets.
Key Developments
The company has initiated a Preliminary Economic Assessment (PEA), which will utilize data from the Inferred Mineral Resource Estimate (MRE) announced in April 2026. The PEA is expected to be published in Fall 2026. Advanced metallurgical test work is underway, with results anticipated in the coming months. Environmental baseline studies have also commenced to support future permitting.
Drilling and Resource Update
Assays are pending for 17 drill holes completed during the 2026 winter drill program. The current MRE outlines a pit-constrained resource of 270 million tonnes grading 1.36% Li2O at a 0.4% cut-off, plus an underground-constrained resource of 24 million tonnes grading 1.34% Li2O at a 0.7% cut-off. The combined inferred resource of 295 million tonnes grading 1.36% Li2O makes the Cisco deposit the largest hard rock lithium deposit in the western hemisphere and the fourth largest globally.
Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that Mineral Resources will be converted into Mineral Reserves.
Strategic Positioning
The Cisco deposit remains open along strike, with several high-priority targets in the immediate area and high exploration potential across the broader 41,253-hectare project area. Q2 Metals is well financed after completing a C$70 million bought deal financing, providing flexibility to accelerate activities as needed.
Alicia Milne, President and CEO of Q2 Metals, stated: "2026 has already been a transformational year for Q2 Metals. We moved from early exploration to resource-stage with our inaugural MRE, positioning Cisco among the world's leading spodumene lithium projects. Now, with strong institutional support and a robust lithium market, we are launching our most ambitious exploration program, accompanied by advanced metallurgy, environmental studies, and road permitting, with a PEA expected this fall."
The Cisco Project is strategically located just 6.5 kilometres from the paved Billy Diamond Highway, providing access to rail infrastructure in Matagami and connections to deep sea ports. This favourable jurisdiction and excellent infrastructure make the project a premier lithium asset.
