Additional Drill Planning Underway
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2023) - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") announces final results from two holes drilled at the Lida copper - silver - gold project on the Walker Lane Belt in south-central Esmeralda County, Nevada. Holes were drilled 900m apart at a strong IP (chargeability) anomaly beneath volcanic cover, and both intersected intense alteration and intrusive dykes indicating potential for porphyry-style mineralization in the project area.
Economic elements in sampled intervals were weakly anomalous, while trace and major element geochemistry supported visual observations and indicated both porphyry and epithermal mineralization characteristics at Lida. Assay results from the two drillholes (LD22001, LD23002 - Table 1) were interpreted with an artificial intelligence (AI) and geostatistical software package by a consulting geochemist, and the results have been incorporated into a comprehensive 3D model together with geophysical (IP) data collected during 2022.
The deeper part of LD22001 (from 344.7 meters) intersected a domain characterized by epithermal-type alteration assemblages with intense silicification and minor pyrite dissemination and veining (see Figure 1a & 1b). This zone demonstrates a strong Pb-Zn-Ag-Au association (or signature) consistent with the distal zone of a potential magmatic hydrothermal system (eg epithermal). In addition, the trace element geochemistry of intrusive rocks intercepted in hole LD22002 indicates they are both hydrous and oxidized, the appropriate geochemical characteristics for copper porphyry mineralization. These intrusive rocks are also associated with anomalous copper well above background values.
The Company is now using the vectors provided by the geochemical analysis in conjunction with 3D IP data (chargeability and resistivity) to target potential buried copper-gold-silver mineralization at Lida. The epithermal alteration assemblage including strong silicification corresponds with a domain of high resistivity in IP geophysical data, that was not a target in this first drilling program. This high resistivity zone also coincides with the widespread copper-silver mineralization found on the surface (see press release dated December 15, 2021).
The high chargeability IP anomaly appears to coincide with dykes and alteration more characteristic of porphyry copper mineralization, where widespread pyrite was intersected in both drillholes.
While copper values were subdued in this drill program, the combination of alteration and prospective geochemistry is positive for a discovery elsewhere on the large Lida claim package. The combination of geophysical and geochemical anomalies found at Lida is now being targeted by Company geologists in the design of a follow up drilling program.
"T2 Metals' drilling program at Lida was the first in the area, with both holes drilled at a buried high chargeability target beneath volcanic cover close to copper-silver mineralization at surface. Interpretation of trace element geochemical data from zones of alteration have shown us that Lida continues to be a highly prospective target for copper and gold," said Mark Saxon, CEO of T2 Metals Corp. "The strongest alteration, with an epithermal signature in geochemical data, highlighted an association with a domain of high resistivity in geophysical data. Our initial drilling campaign has proven very valuable in vectoring toward potential buried mineralization at Lida."
T2 Metals is focused on copper, nickel and lithium acquisition, exploration and development within the major mining belts of western North America. The Company continues to target under-explored areas, including the Sherridon, Lida and Cora projects where post-mineralization cover masks areas of high geological prospectivity in the vicinity of major mines.
Any references to the terms "ore minerals", "mineralization" or "mineralized zones" are purely for descriptive purposes and are not intended to be interpreted as or relied upon for any resource or economic evaluation of the project at this time. Although historic exploration data was generated by reputable companies applying practice of the day, T2 Metals Corp cannot verify the data or determine the quality assurance and quality control measures applied in generating the data. Furthermore, there is no guarantee that the exploration history is fully captured. Additional drilling may have been undertaken, however the Company has not been made aware of or obtained additional data. Accordingly, the Company cautions that the exploration data reported in this news release may not be reliable. Readers are cautioned that a "qualified person" as defined by National Instrument 43-101 has not completed sufficient work to be able to verify the historical information, and therefore the information should not be relied upon.
The qualified person for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.
Figure 1a: LD22001 - Intense silica alteration
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Figure 1b: LD22002 - Intense silica alteration
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Table 1: Drill hole coordinate and orientations (NAD83, UTM Zone 11N)
| HOLE ID | EAST | NORTH | ELEV | DIP | AZIMUTH | EOH (m) |
| LD22001 | 464558.1 | 4147829 | 1635.2 | -55 | 295 | 380.2 |
| weakly anomalous mineralization only | ||||||
| LD23002 | 465005.4 | 4148550 | 1630.0 | -55 | 335 | 504.0 |
| weakly anomalous mineralization only | ||||||
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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