Q2 Metals: High-Grade Lithium Discovery in Quebec’s James Bay Region
Ranked Top 10 on 2025 TSX Venture 50. Explore our latest drill results.
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Map featuring infrastructure and deposits in the region. Cisco is the closest discovery in proximity to Matagami
The Cisco Lithium Project: Fast Facts
- Location: James Bay, Quebec (Nemaska traditional territory of the Eeyou Istchee)
- Access: <10 km from Billy Diamond Highway; 150 km north of Matagami (closest rail link)
- Scale: 801 claims covering 41,253 hectares
- Initial Exploration Target: Range from 215 to 329 Mt at 1.0 to 1.38% Li₂O (source: BBA, inc.)
- Geology: Situated along the lithium-rich Frotet-Evans Greenstone Belt
- Strategic Positioning: Tier-1 jurisdiction, strong lithium demand tailwinds, and access to infrastructure
- Key Intercepts:
- 347.1m @ 1.35% Li₂O (Hole 21)
- 215.6 m @ 1.69% Li₂O (Hole 18)
- 179.6 m at 1.66% Li₂O with additional intervals including 58 m at 1.75% Li₂O and 91.8 m at 1.81 % Li₂O (Hole 27)
Discover the Cisco Project
Initial Exploration Target:
A Major Milestone
In July 2025, Q2 Metals announced its inaugural Exploration Target¹ for Cisco, based on results from the first 40 drill holes. Prepared by BBA Inc., an independent geological and engineering consulting firm, the estimate outlines:
- A conceptual range of 215 to 329 million tonnes (Mt) of potential lithium-bearing material
- An estimated grade range of 1.0 to 1.38% Li₂O
This early-stage estimate underscores the potential scale and grade of Cisco, positioning it as what management believes is a globally significant hard rock lithium discovery.
Drilling is ongoing as part of the 2025 Summer Program, with mineralization open at depth and along strike. Q2 Metals anticipates continued assay results throughout Q3 2025, supporting the Company’s progression toward a maiden mineral resource estimate.

“We are very pleased with these results, which have not only intercepted significant width and grade, but generated key information that will inform subsequent drill campaigns.
Cisco continues to deliver and is taking shape as a globally significant discovery in one of the world’s top mining jurisdictions.”
– Alicia Milne, President/CEO Q2 Metals


Geologists with drill hole 21 at the Cisco Project: 347.1 metres of Spodumene-pegmatite at 1.35% Li2O
Drilling Highlights to Date
The combined 2024 and 2025 drill programs have significantly expanded the mineralized footprint of the Cisco Project, with strong lithium grades across wide intervals.
Notable Results:
- Hole 27: Multiple high-grade zones including
- 179.6 m at 1.66% Li₂O
- 58 m at 1.75% Li₂O
- 91.8 m at 1.81% Li₂O
- Hole 18: 215.6 metres at 1.69% Li₂O
- Hole 21: 347.1 metres at 1.35% Li₂O
Program Highlights:
- 2025 Winter & Summer Drilling:
- Extended strike length from 850m to 1.5 km
- Mineralization remains open along strike and at depth
- Drilling guided the definition of the initial Exploration Target
- 2024 Drill Program:
- 17 holes totaling ~6,360 m
- Pegmatite zones exceeding 100m in 4 holes
- Lithium grades averaging 1.5–1.7%, with several zones >2%
Each successive program continues to support management’s belief that the Cisco Project demonstrates the hallmarks of a globally significant hard rock lithium discovery.

Why Lithium, Why Now?
- Lithium is a critical mineral powering the global energy transition — especially electric vehicles (EVs) and battery storage
- EV adoption is accelerating, with the global EV stock projected to reach 350 million by 2030 (iea.org)
- EV batteries now account for approximately 85% of global lithium demand (iea.org)
- To meet demand, the world will need 52 new lithium mines by 2030 (Benchmark)
- Beyond EVs, Battery Energy Storage Systems (BESS) are emerging as a key driver of future lithium demand.


But Supply Can’t Keep Up
Global lithium supply is constrained by:
- Underinvestment
- Limited refining capacity
- Geopolitical challenges
Result: High demand, tight supply, rising strategic importance.

Why Quebec is a Key Player
- Ranked #5 globally for mining investment attractiveness (Fraser Institute).
- Pro-mining government support: tax incentives & direct project investment.
- The James Bay region is now a world-class lithium exploration hub.
- Infrastructure is growing fast with projects like the Bécancour battery hub and new spodumene refineries.
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Ranked #9 on the 2025 TSX Venture 50 List of Top Performing Companies
In February 2025, Q2 Metals was recognized as a top-performing company on the 2025 TSX Venture 50 list, ranking 9th overall.
In 2024, the company’s share price increased by 214%, and its market capitalization grew by 380%.
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Recent News

July 21, 2025
Q2 Metals Defines Initial Exploration Target of 215 to 329 Million Tonnes at the Cisco Lithium Project in James Bay, Quebec, Canada

June 24, 2025
Q2 Metals Intercepts 151 Metres of Continuous Spodumene Pegmatite at the Cisco Lithium Project and Announces Option Payments on Cisco Project Properties

June 10, 2025
Q2 Metals Announces Final Assays from winter drill program and initiates on exploration target at Cisco Lithium Project
Download the Investor Deck
to access detailed drill results and to get a comprehensive look at our vision and exploration plans
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
By providing your email, you agree to receive marketing emails from Q2 Metals. You can unsubscribe at any time.
¹ An Exploration Target is used to provide a conceptual estimate of the potential quantity and grade of a mineral deposit, based on known and additional limited geological evidence. It is an early-stage assessment that will help to guide further exploration, but it is not a mineral resource or mineral reserve and should not be treated as such.
Disclaimer Regarding Third-Party Reports
Readers are cautioned that this webpage includes references to analyses prepared by third parties, which are subject to important qualifications, assumptions and exclusions. To fully understand such analyses, the applicable third party reports should be read in their entirety.
Qualified Person
Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”), has reviewed and approved the technical information in this webpage. Mr. McCallum is a director and VP Exploration for Q2.
Forward-Looking Statements
This webpage 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 webpage 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 regarding 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.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this webpage speak only as of the date of publication of this webpage or as of the date specified in such statement. Forward looking statements in this webpage include, but are not limited to, proposed metallurgical test work to be conducted, the possibility of future development and mining infrastructure scenarios, the potential for development, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, 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.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.