12:16 PM EDT, 04/28/2025 (MT Newswires) -- Q2 Metals ( QUEXF ) was last seen down 17% after the company on Monday provided an update on its Winter expansion drill program at the Cisco Lithium Project in northern Quebec.

The program drilled 14 holes totaling 6,997 meters, of which 10 holes intercepted spodumene-bearing pegmatite. Assays are pending on all holes, and the company expects first results to be announced in May.

The company said the program extended the northeast-southwest strike of the main zone has increased to 1,500 meters.

"We are very encouraged by the results to date, which continue to validate the scale and potential of the Cisco Project," said chief executive Alicia Milne. "With only 37 holes drilled for 14,644 metres to date, we've built a strong foundation for continued advancement... We remain well-funded, the project remains open in all directions and at depth, and we are eager to resume drilling in June."

The company's shares were last seen down $0.11 to $0.52 on the TSX Venture Exchange.

Price: 0.52, Change: -0.11, Percent Change: -17.46