Q2 Metals has significantly expanded its holdings at the Cisco Lithium Property in Quebec, Canada, after acquiring 545 additional mineral claims. This acquisition triples the company's claim position, covering a total of 767 claims spanning over 39,389 hectares. The additional claims are strategically located south of the original property, adding prospective greenstone rocks and providing opportunities for future development and mining infrastructure.
Q2 Metals Announces Closing of the Acquisition of Additional Claims at the Cisco Lithium Property , James Bay , Quebec , Canada. Under the terms of the Agreement, Q2 has acquired the exclusive right and option to acquire a 100% interest in 545 mineral claims (the 'Additional Cisco Claims'), which more than triples its mineral claim position at the Cisco Property.
The Cisco Property is now comprised of a total of 767 contiguous mineral claims over 39,389 ha, including more than 30 km of strike length on the Frotet-Evans Greenstone Belt, which hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively. The Additional Cisco Claims are primarily south of the original Cisco Property claims, adding several kilometres of prospective greenstone rocks and providing extensive strategic sites for future development and mining infrastructure scenarios. To acquire the Additional Cisco Claims, the Company must pay to CMH an aggregate of $2,400,000 over a period of 42 months and complete $1,200,000 of exploration expenditures during that time. Certain of the Additional Cisco Claims are subject to 3% gross metals returns royalty (the 'GMR') and 1% gross metals returns royalty. 2% of the GMR may be repurchased for $3,000,000 and 1% of the NSR may be repurchased for $500,000. For further details on the terms of the Agreement and the royalties on the Additional Cisco Claims, please see the Company's Q2 is pleased to have been selected as a participant in the core shack at the upcoming AME annual Roundup conference being held in Vancouver, BC from January 20 - 23, 2025. Vice President of Exploration Neil McCallum as well as senior project geologists will be on hand with core from the 2024 drill season at Cisco. Mr. McCallum will also be presenting at the Critical and Base Metals Speaker Session on Tuesday January 21, 2025.The Company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event ('PDAC 2025') in Toronto, ON
Q2 Metals Lithium Acquisition Cisco Lithium Property James Bay Quebec Mineral Claims Exploration Mining Infrastructure
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Critical Metals’ Wolfsberg lithium project to get fast-tracked without EIANo 1 source of global mining news and opinion
Read more »
Direct lithium extraction: securing lithium’s energy futureLearn how EnergyX is reshaping the electric vehicle industry with its direct lithium extraction technology.
Read more »
Equity Metals Reports Strong Assay Results From Fall 2024 Drill Program at Silver Queen PropertyEquity Metals Corp. announced new assay results from its Fall 2024 drill program at the Silver Queen Au-Ag project in British Columbia. The drilling extended the No. 3 Vein, confirming its grade and tenor beyond the modeled resource.
Read more »
Saudi Arabia to Launch Lithium Extraction Pilot from Aramco OilfieldsSaudi Arabia plans to launch a commercial pilot programme for direct lithium extraction from brine samples extracted from Aramco's oilfields. The project will be led by Lithium Infinity (Lihytech), a startup from King Abdullah University of Science and Technology, in collaboration with Saudi mining company Ma'aden and Aramco. Lithium is a key component in electric vehicle batteries and the project aims to capitalize on the rising demand for lithium.
Read more »
How Cisco Boosted Hiring Of Workers Without College DegreesJena McGregor is a Forbes senior editor who covers the future of work, leadership strategy, workplace trends and careers. She joined Forbes in October 2021 and is based in Atlanta.
Read more »
Portugal plans to hold delayed lithium tender in 2025No 1 source of global mining news and opinion
Read more »