Q2 Metals has delivered its strongest lithium drill result yet at the Cisco project in Quebec’s prolific James Bay district, sharpening investor focus as the company advances toward a preliminary economic assessment (PEA) later this year.
Shares of the Vancouver-based explorer climbed after the company unveiled a series of high-grade intercepts from its 2025 drill campaign — capped by a headline-grabbing interval in hole CS25-073.
Record Interval Anchors Western Expansion Potential
Hole CS25-073 cut 40 metres grading 2.89% lithium oxide (Li₂O) from 422 metres depth — the highest-grade interval ever reported at Cisco. The hole also returned a broader 170-metre intercept averaging 1.99% Li₂O, along with multiple stacked zones grading above 1.4%.
The results not only reinforce Cisco’s high-grade core, but also suggest the deposit remains open to the west.
“The latest assays support a potential extension of the deposit boundary,” said Canaccord Genuity analyst Katie Lachapelle, noting that the central portion of the deposit may be developing a concentrated high-grade zone.
For Q2, the latest assays mark a turning point.
“These results showcase the robust mineralization at Cisco and emphasize its expansion potential,” said Vice-President of Exploration Neil McCallum, adding that the completion of the 2025 drill results signals the beginning of a “new chapter” in the project’s evolution.
Positioned in a World-Class Lithium Corridor
Cisco lies in the Eeyou Istchee James Bay region, about 900 kilometres north of Montreal — an area rapidly emerging as one of North America’s most strategic lithium hubs.
The project sits along the southern James Bay corridor, near major developments including:
- Rio Tinto’s Whabouchi and James Bay lithium assets
- Critical Elements Lithium’s Rose project
With infrastructure investments accelerating across the region, Cisco’s scale could position it among the district’s most significant undeveloped deposits.
Global-Scale Potential Emerging
Last year, Q2 outlined an exploration target for Cisco’s main mineralized zone ranging from 215 million to 329 million tonnes grading between 1.0% and 1.38% Li₂O.
Canaccord’s updated internal model estimates 236 million tonnes at 1.39% Li₂O.
“If confirmed, a mineral resource of this scale would comfortably place Cisco within the top five reported hard-rock lithium deposits globally,” Lachapelle said, adding that continued step-out drilling to the north and regionally leaves room for further upside.
More High-Grade Hits Build Confidence
Additional 2025 drill highlights include:
- Hole CS25-064: 166.7 metres at 1.47% Li₂O, including 28.7 metres at 1.81%
- Hole CS25-072: 121.6 metres at 1.45% Li₂O from shallow depths, including intervals exceeding 1.7%
The company’s four-rig program is now largely focused on infill drilling to upgrade anticipated inferred resources to the indicated category ahead of the PEA. The upcoming assessment will incorporate nearly 32,000 metres of drilling data.
Market Reaction
Investors responded positively, sending Q2 shares up 6% to C$2.18 in Toronto, valuing the company at roughly C$411 million. Over the past year, the stock has traded between 39 cents and C$2.70 — reflecting both lithium market volatility and growing confidence in Cisco’s scale.
As the PEA approaches, Cisco is transitioning from exploration story to development contender — and its latest results suggest the project may be far larger, and richer, than initially envisioned.
