Explorer's Lithium Prospect Could Be A 'Discovery of Global Significance'
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Disclosures for Argonaut, Q2 Metals Corp., February 5, 2025

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On February 5, 2025, Argonaut analyst George Ross published a report on Q2 Metals Corp. (QTWOTSX-V; OTCQB:QUEXF) without providing a formal rating, stating that the company's Cisco lithium prospect in Quebec's James Bay region represents "a discovery of global significance" based on the firm's independent 3D modeling and analysis of drilling results to date.

Argonaut has constructed a 3D model of the Cisco deposit using publicly available drilling data, which suggests a complex pegmatite system with at least 4-6 major parallel lodes converging at the system's core. Based on the 23 holes drilled to date, the firm estimates a current inventory of approximately 164 million tonnes grading 1.13% Li₂O (above a 0.6% cut-off), with significant potential for expansion as the deposit remains open along strike, down plunge, and down dip.

The Cisco project has delivered exceptional drill intercepts, with the best results including 347.1m at 1.35% Li₂O, 215.6m at 1.69% Li₂O, and 188.6m at 1.56% Li₂O. These results have been returned from the company's 2024 drilling program, which consisted of 17 holes totaling 6,360m, following six earlier holes completed by the project vendors in 2023.

Q2 Metals has recently announced (February 3, 2025) the commencement of its Winter 2025 drill program, which will include 6,000-8,000m of drilling with 400m step-outs from the most eastern holes completed in 2024. Argonaut believes this program "will likely extend the boundaries of known mineralization, further growing the deposit's upside."

The project benefits from favorable infrastructure, being located just 6.5km from the Billy Diamond Highway and 165km by road north of Matagami, a town of approximately 1,400 people with existing regional sealed roads, hydro-grid power, and rail access. This infrastructure advantage could provide significant benefits for potential future development.

Argonaut suggests that the "pegmatite thickness and continuity suggest the deposit could ultimately be mined in a large, low strip ratio open pit to a depth greater than 500m below surface," concluding that "QTWO is well on the way to defining a globally significant hard rock lithium orebody."