# Q2 Metals Commences Summer Drill Program and Advances Toward PEA on the Cisco Lithium Project in Quebec, Canada Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/q2-metals-commences-summer-drill-program-and-advances-toward-pea-on-the-cisco-li--efc618be-41cb-4c58-825e-71ad5b8e612b Original source: https://orestocks.com/company/QTWO.V/press-releases/8231026494040666 Publisher: orestocks Original announcement: 2026-06-25T15:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T03:01:42.737Z Atlas analysis updated: 2026-10-01T03:01:42.737Z - Company: Q2 Metals Corp. - Ticker: QTWO.V - Exchange: Unavailable - Region: Quebec, Canada - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Resource update, Drill results, Other - Extracted: 2026-10-01 03:01:43 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Q2 Metals has commenced a 20,000-metre summer drill program at the Cisco Lithium Project in Quebec, focusing on infill drilling to convert Inferred resources to Indicated. The company is also preparing a Preliminary Economic Assessment \(PEA\) and conducting advanced metallurgical testing. Reasoning: The company is launching its largest drill program to date to convert resources and is advancing toward a PEA, supported by a strong cash position. - Positive factor: Commencement of large-scale summer drill program \(20,000m\) - Positive factor: Advancement toward PEA - Positive factor: Strong treasury of >$70M - Positive factor: Significant inferred resource \(295 Mt @ 1.36% Li2O\) - Negative factor: Assays pending on nine winter drill holes Facts used in scoring: 3 ## Classification and evidence **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The summer program priority is infill drilling of the main Cisco deposit area to convert resources. Evidence · text > Priority is on infill drilling of the main Cisco deposit area **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE was prepared in accordance with NI 43-101 standards. Evidence · text > The MRE is effective April 20, 2026, and was prepared in accordance with NI 43-101 standards. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Neil McCallum, B.Sc., P.Geol, is named as the Qualified Person who reviewed and approved the technical information. Evidence · text > Qualified Person Neil McCallum, B.Sc., P.Geol, is a Qualified Person as defined by NI 43-101 ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/q2-metals-commences-summer-drill-program-and-advances-toward-pea-on-the-cisco-li--efc618be-41cb-4c58-825e-71ad5b8e612b#fact-resource-facts-0) Cisco Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Cisco Lithium Project - Commodity: lithium - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: QTWO.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Neil McCallum - Resource group id: resource:6153ddc556724c8ae81f - Deposit or zone: Cisco Deposit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 270000000 - Grade: 1.36 - Grade Unit: % Li2O - Cutoff Grade: 0.4 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2026-04-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-04-20T00:00:00.000Z #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: Significant pit-constrained inferred resource. - Positive factor: Large tonnage - Positive factor: High grade for lithium Evidence · text > outlined a pit-constrained resource of 270 million tonnes \(“ Mt”\) grading 1.36% Li2O at a 0.4% Li2O cut-off grade #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/q2-metals-commences-summer-drill-program-and-advances-toward-pea-on-the-cisco-li--efc618be-41cb-4c58-825e-71ad5b8e612b#fact-resource-facts-1) Cisco Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Cisco Lithium Project - Commodity: lithium - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: QTWO.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Neil McCallum - Resource group id: resource:77309e007834e1a45eaf - Deposit or zone: Cisco Deposit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 24000000 - Grade: 1.34 - Grade Unit: % Li2O - Cutoff Grade: 0.7 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2026-04-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-04-20T00:00:00.000Z #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: Significant underground-constrained inferred resource. - Positive factor: Underground potential Evidence · text > additional underground-constrained resource of 24 Mt grading 1.34% Li2O Inferred at a 0.7% Li2O cut-off grade #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/q2-metals-commences-summer-drill-program-and-advances-toward-pea-on-the-cisco-li--efc618be-41cb-4c58-825e-71ad5b8e612b#fact-resource-facts-2) Cisco Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Cisco Lithium Project - Commodity: lithium - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: QTWO.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Neil McCallum - Resource group id: resource:5e6416613337d216e5fc - Deposit or zone: Cisco Deposit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 295000000 - Grade: 1.36 - Grade Unit: % Li2O #### Prior Estimate - Resource Date: 2026-04-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-04-20T00:00:00.000Z #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: Total combined inferred resource for the Cisco Deposit. - Positive factor: Large scale lithium resource Evidence · text > support a combined inferred mineral resource of 295 Mt grading 1.36% Li2O #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.