Vancouver, British Columbia–(Newsfile Corp. – April 26, 2023) – Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) (“Q2” or the “Company“) is pleased to announce it has completed Phase 1 of the 2023 exploration campaign at its flagship Mia Lithium Property (the “Mia Property“), located in James Bay, Quebec. 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. The Company is awaiting the results of interpretation before deciding whether to complete the eastern half of the trend in June.
“We are waiting on the detailed interpretation, and I expect the survey will aid in prioritizing which of the many compelling target areas on the lithium exploration trend to focus on during our summer 2023 drill campaign,” said Q2 Vice President of Exploration, Neil McCallum. “After visiting the property and meeting people within the community this past week, I am even more excited to lead this program forward and update our shareholders with our progress in the field.”
The IP-Resistivity geophysical survey was carried out by TMC Géophysique out of Val d’Or Quebec and focused on the western section of the greenstone belt within the Mia Property and spanned approximately four kilometres, with 11 lines at 100-metre line spacing. IP-Resistivity is a geophysical tool that has traditionally been used in gold and base metals exploration, but has been useful in identifying resistive rock units, such as pegmatite, as at the James Bay Deposit of Alkem Inc.1
Q2 will commence Phase 2 of its 2023 exploration program, including ground mapping and sampling, shortly after May 20th to respect the local Cree Nation goose harvesting season of the Eeyou Istchee (James Bay territory) which runs from April 20th to May 20th, and as soon as snow-free conditions allow. The scheduled helicopter-borne magnetic survey was deferred to early June.
The Company’s inaugural 10,000 m drilling campaign is expected to commence in July, with up to two drill-rigs and continue until September 2023.
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director of Q2.
About Q2 Metals Corp
Q2 Metals Corp. is a Canadian mineral exploration company currently advancing exploration of its 8,668-ha 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 and 2.27% Li2O respectively. The Company also owns the Stellar Lithium Property with 77 claims totaling 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 covering approximately 110 km² in the Talgai Goldfields of the broader Warwick-Texas District, hosting 54 high-grade historical gold mines.
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Alicia Milne Kevin Bottomley Jason McBride
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Telephone: 1 (800) 482-7560
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This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com.
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1 Disclaimer: Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.
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