Vancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to provide an update from drilling at the Lida copper - silver - gold project on the Walker Lane Belt in south-central Esmeralda County, Nevada. Two holes spaced approximately 900 m apart for a total of 884 m were completed in the program, both testing high chargeability anomalies identified in an induced polarization ("IP") survey in 2022. Both drill holes intersected sulfide-bearing hydrothermal alteration with one hole encountering a porphyritic intrusive.
Highlights
- Two holes completed at Lida, both intersecting altered and veined sequences of sedimentary rocks;
- Quartz-feldspar porphyritic intrusive intersected in one hole with pyrite veining and dissemination;
- Intense silica alteration zone with chalcocite (copper sulfide) associated with high resistivity intersected over a 900 m strike length;
- Drill samples have been submitted to a laboratory in Nevada, results released as they become available;
- Additional drill targets now being identified;
- Drill core and surface samples will be available at the PDAC conference Booth #2941;
Both drill holes intersected a mixed sequence of siliclastic sediments with lesser carbonate/limestone beneath a locally developed intermediate volcanic unit. The siliciclastic sediments display regular quartz-carbonate-pyrite-chlorite vein development with bleached and chloritic haloes, often associated with disseminated pyrite (Figure 1), that may correspond to the outer margin of a porphyry style hydrothermal system.
Hole LD22001 intersected a porphyritic quartz-feldspar intrusive from 148.7m for approximately 20m. The intrusive is characterized by quartz phenocrysts up to 5mm in size, with regular cross cutting quartz-pyrite veins and disseminated intervals of pyrite (Figure 2). The intrusive and alteration assemblage together provide evidence of the potential proximity of a larger mineralized porphyry that may be the source of the extensive surface copper mineralization at Lida.
Of particular significance, both holes intersected a highly altered/silicified interval interpreted to be an altered intrusive or clastic unit. In hole LD22001, approximately 35m of this altered rock type was intersected to the end of hole at 380.2m (Figure 3). Finely disseminated chalcocite (copper sulfide mineral Cu2S) was identified (with the support of a pXRF), along with veinlets of pyrite and chalcocite (Figure 4). This unit or style of alteration has not been observed at surface at the Lida project.
The presence of this highly altered unit over a strike length of more than 900m presents a high prospective copper, gold and silver target. The altered unit corresponds to a zone of high resistivity that does not extend to surface but trends for more than 2km (Figure 5).
"Drilling a previously untested project is an exciting time in the exploration industry, and Lida has been no exception," said Mark Saxon, President and CEO. "Intersecting a sulfide-bearing porphyry intrusive beneath cover is a very positive result, but the highlight was the silica altered interval with chalcocite associated with high resistivity. Lida sits within the Walker Lane, one of the most gold rich regions of North America, while locally a major gold mining company has staked on our western claim margin. Alteration of this style may be indicative of potential for gold mineralization."
"We elected to pause the drilling program after two holes to learn more about the intersected rocks using geochemistry and petrology, and we shall return to further test this large and highly prospective target on the basis of that new data."
T2 Metals personnel will be attending the PDAC conference in Toronto, from March 4th to 8th. Please be in touch to arrange a meeting, or visit us at Booth #2941.
Figure 1: LD22001 - Fracture and vein alteration within siliclastic sediments (drill core 60mm width).
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Figure 2: LD22001 - Quartz feldspar phyric porphyry with pyrite veining and dissemination (drill core 60mm width).
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Figure 3a: LD22001 - Example of intense silica alteration in possible intermediate volcanic (drill core 60mm width).
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Figure 3b: LD23002 - Example of intense silica alteration in possible intermediate volcanic (drill core 60mm width).
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Figure 4: LD22001 - Intense silica alteration with chalcocite and pyrite dusting (drill core 60mm width).
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Figure 5: Location of Lida drill holes with high resistivity zone that was not a focus of drilling, interpreted to correspond to intense silica alteration intersected.
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| HOLE ID | EAST | NORTH | ELEV | DIP | AZIMUTH | EOH (m) |
| LD22001 | 464558.1 | 4147829 | 1635.2 | -55 | 295 | 380.2 |
| LD23002 | 465005.4 | 4148550 | 1630.0 | -55 | 335 | 504.0 |
Table 1: Drill hole coordinate and orientations (NAD83, UTM Zone 11N)
About T2 Metals Corp (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E)
T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Lida Project in Nevada, and the Cora Project in Arizona.
ON BEHALF OF THE BOARD,
"Mark Saxon"
Mark Saxon
President & CEO
For further information, please contact:
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
info@t2metals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. Such risks include uncertainties relating to exploration activities. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
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