Categories: Precious Metals
Topics: Gold Stocks

T2 Metals (TSX-V: TWO)(OTC: TWOSF) CEO Mark Saxon on Advancing Exploration in Anticipation of Drilling at Shanghai Project, Yukon

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of a company that I think is going to have one of the more exciting exploration programs here in the second half of 2026. I'm speaking with Mr. Mark Saxon from T2 Metals (TSX-V: TWO)(OTC: TWOSF). Mark, good to have you on again. How have you been, sir?

Mark Saxon: Gerardo, great to talk. I'm sitting up here in Vancouver, just having finished a week in Manitoba and a week in the Yukon. So we've got lots to talk about and really excited about what's coming down the line for us.

Gerardo Del Real: Well, listen, let's get right to it. You just completed an airborne aeromagnetic and radiometric survey at the Shanghai Project in the Yukon. You are nearby projects and deposits and mines that show the geological endowment to be pretty substantial. This is a project that was near and dear to Shawn Ryan. You now have it under the portfolio. You are working in unison to advance it. Can we speak about the recent completion of the survey and then what comes next?

Mark Saxon: Yeah, absolutely. And as you said, this is a project that we acquired from Shawn Ryan and Kathy Wood. And it's something that Shawn picked up about 20 years ago. So he's been sitting on the project without bringing in a joint venture partner for quite a long time. And for those who don't know Shawn, he's I'm sure the most successful prospector in the Yukon, if not Canada. And really calling him a prospector is not doing him justice for the amazing discoveries he's made and the value that he has created for that Yukon region, he's been quite sensational. So we picked up the Shanghai Project from Shawn and it had a very good set of data from ground sampling, so particularly soil sampling, which is Shawn's specialty. We're now collecting a few more data sets, so that's a bit more soil sampling, that's some rock sampling and working out the drilling.

But we've just completed an aeromagnetic and radiometric survey. So that's where we have a helicopter flying across the project in hundred meter space lines. And that geophysical method is the very best way to look for buried, potentially mineralized intrusions. So we can see the magnetic signature of the intrusions and potentially we can see the radiometric signature as well. So that really, when we combine it with the soil sampling, is going to give us all the hotspots across the project. And we've now got the money and the people in place and the contracts in place to get drilling pretty quickly.

Gerardo Del Real: When you say pretty quickly, can you quantify that? When do you hope to have drills on the ground? And I only ask because look, it's part of the portfolio and I know shareholders are excited to see what is there given the location and the proximity to some of these large, large unmined gold deposits and then silver deposits that exist.

Mark Saxon: Yeah, yeah. Yeah, sure. And there's a few photos of me on the website to sort of give a context of where we are in relation to other projects. And so standing on the Shanghai Project, which is an old silver mine. So we stand on the dumps there and we can look south, we look three kilometers and we're looking at the eight million ounces of Banyan Gold AurMac Project. To the immediate east, I'm looking at Keno Hill, which is where Hecla Mining is producing, I think, from North America's highest grade silver project. And then immediately behind me when I'm standing on this dump, you head over the hill to the Eagle Mine, which has had some ups and downs, but it's going through a sale process. And that's about five million ounces sitting up on the hill behind me. So we're sitting in the middle of all those great deposits and Shanghai has never been drilled.

So our program that we're coming to in this season is the very first ever drilling program on this project in the middle of all these giant projects. So we are expecting to drill in the second half of August. We're working towards the contract there. I see no impediments to that. We've got the drill rigs in place, we've got the people in place. And I suppose most importantly, we have a class 3 permit in place, which allows us to do plus 20 drill holes, allows us to build roads. If we wish to, we could build a camp on site. We're more likely to do fly in, fly out because we're so close to infrastructure in that area that we don't really need to build a standalone camp. We can fly in and out to Mayo with about 10 minutes in a helicopter. So yeah, that's in the schedule and we're fully financed for that work as well, I suppose most importantly.

Gerardo Del Real: No, listen, exciting stuff with Shanghai. Can we speak to some of the other projects in the portfolio? Because I mean, look, between Sherridon, which I know is the Copper-Zinc-Gold-Silver Project in Manitoba, that's a substantial asset. And then you also have other projects as well that I know are going to see some attention. Can you speak to that a bit?

Mark Saxon: Yeah, absolutely. And I've just been in the Yukon and I just had my feet on the ground at our Aurora Project as well. So Aurora is a very large project and it's got a small amount of past drilling. I think the best drill hole is four and a half meters at 28 grams of gold from something that was drilled about 15 years ago. And that was never followed up on. So we've got that to go to immediately. That's called the AJ Prospect, but we've got about 10 projects across the license, all of which have plus 10-gram gold samples taken from surface. We're completing some soil sampling at the moment. It's in fact rock chip sampling that's underway. And in fact, that work has been led by Callum Ryan, who is Shawn's son and a great young guy, super prospector, and has really learnt from his mom and his dad about how to do this work right. So Cal is leading that project. We're going to be drilling on that project too, and we're doing shallow RAB sampling. And so that's on the horizon. We're working towards that at the moment.

The other one, the portfolio, and I've just been in Manitoba as well, is our Sherridon Project. And so we've just published an updated 43-101 mineral resource on that project. So we now have four current resources, one historical resource. And the project also has two old mines. So this is a really substantial project in the prairies. If you look at the total metal endowment of the project, it's around 40 million tonnes at sort of 1.8% copper equivalent. So that's including the mined resource. So that is a great metal endowment for this project. And for something that is really under explored, that has great potential to get bigger and bigger and almost no deep drilling.

And we've got these four resources near surface, all of which we've been using pretty conservative metal prices and NPV numbers to turn them into resources. And so they're economic today if we wanted to go ahead. But yeah, really good exploration potential as well to look down dip and down plunge.

Gerardo Del Real: Before I let you go, Mark, I got to stop you really quick because I got to ask you something here. I got to believe that you're getting calls about that project to potentially joint venture because you have a market cap of 25 million and I can make a pretty damn good case that that project alone merits a market cap much, much, much higher than what your entire company is getting credit for. Are you getting calls about that project?

Mark Saxon: Oh, most certainly. And we've been hosting a few visits from potential partners. And it's a project that has been a little bit overlooked because Manitoba had a few ups and downs in the past with some First Nations relationships. But we've got such a good relationship with the First Nations group locally that there is no impediment. The only risks on the project are geology really because the First Nations has been solved. The government's really supportive. The project has got a railway line running through the middle of it that operates every second day. It's got power, it's got a small village. And so there are few impediments for Sherridon to go back to being a mining project. And now it's got NI 43-101 resources as well. So it's a super project and you see what happened at Foran across the border with the mine development and the takeover by El Dorado.

And Sherridon is pretty much how Foran started sort of 8 to 10 years ago. Exactly the same position as we see it at Sherridon today. So we're super motivated by that project and building up a work program to go ahead. Our next phase is looking at the metallurgy. And yeah, we're going to keep on investing. It owes us nothing. We're fully earned in the project. We own 100% now. And so yeah, it's a great project for the company as well.

Gerardo Del Real: Excellent, excellent. Mark, a lot to be excited for. There's a lot of value in T2. I know it's the summertime. I know people get bored. You should be outside, but man, I couldn't be more excited about some of the exploration going on in the second half of this year. Excited to hear that drilling commences next month. Anything to add to that?

Mark Saxon: No, I think that's covered it off. No, we've got loads of momentum and we've got the cash in the bank to do all the work that we need to. So yeah, we're ticking most boxes.

Gerardo Del Real: Excellent. Mark, thank you for your time. Look forward to getting you back on here. And I think in a couple of months' time, we're going to be talking about assays and potentially some new discoveries that are going to excite the market.

Mark Saxon: Super. Thanks, Gerardo. Ciao.

Gerardo Del Real: All right. Cheers.

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