Vancouver, British Columbia--(Newsfile Corp. - April 11, 2024) - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce first assay results from an initial field reconnaissance visit to the Company's 100% owned Copper Eagle copper-gold project, located in Douglas County, Nevada. The project is easily accessed utilizing existing all weather roads from Nevada State Route 395. Several large former copper mines and development projects lie within 50 km of Copper Eagle, including the Anaconda copper Mine in Yerington, Hudbay Minerals' Mason Project and Nevada Copper Inc's Pumpkin Hollow Mine (see Figure 1).
T2 Metals geologists located various trenches and shallow pits/workings reported by consulting geologist Majid Shokohi in 1971. Representative rock chip samples were taken from five of the most significant pits/workings across an area of approximately 200 by 200 metres. The five samples ranged from 0.04% to 10% copper (Cu) averaging 3.09%; from 0.18 to 32.5 g/t silver (Ag) averaging 16.4 g/t; and from 0.005 to 0.62 g/t gold averaging 0.15 g/t.
The assay results verify grades reported by Majid Shokohi and confirm the potential of the Copper Eagle project. In addition, the highest gold grade sample was associated with highly anomalous Te (3 ppm), Se (34 ppm), Ba (0.23%), In (1.9 ppm) and Sb (14 ppm), suggestive of a northern Nevada high sulfidation epithermal signature. High sulfidation systems are commonly genetically and spatially associated with porphyry copper-gold deposits.
Mark Saxon, President & CEO of T2 Metals Corp. commented, "These first assay results from shallow pits at Copper Eagle in Nevada are suggestive of epithermal or porphyry style mineralization, with prospectivity heightened by the epithermal pathfinder signature. With tightening global copper supplies and rapidly rising copper prices, we look forward to applying modern exploration methods at the Copper Eagle project to determine its potential. The United States requires more domestic sources of renewable energy materials, and with Cora, Lida and Copper Eagle, T2 Metals is well positioned to contribute to future supply."
The Copper Eagle copper project is located in Douglas County, Nevada, approximately 21 km southeast of Carson City and 32 km WNW of Yerington. The nearby Yerington mining district is a prolific copper producing region and is host to several large, world class copper mines and deposits including Pumpkin Hollow (23.9 mt @ 1.59% Cu), Yerington (162 mt @ 0.54% Cu) and Ann Mason (2.2 Bt @ 0.29% Cu). The project is accessible by Nevada Highway 395 to the west with simple power and railway access nearby. T2 Metals continues to progress its project generation and acquisition strategy for copper and precious metals in highly prospective mineral belts. The rapidly growing demand for copper due to the accelerating uptake of electric vehicles and the supporting infrastructure, aligned with the growing uncertainty of sustainable ethical supply, makes US targets a high priority.
Copper Eagle lies within the Walker Lane Mineral Belt, in the vicinity of world class porphyry and skarn type copper projects. Exploration at Copper Eagle was last recorded over 50 years ago, when significant zones of oxidized copper mineralization were exposed by a consortium of owners (I. Smith, J. Smith and P. Gerken) beneath shallow alluvial cover.
Original exploration company records acquired by T2 Metals from the Nevada Bureau of Mines and Geology show trenching at Copper Eagle discovered sulfide and oxide copper mineralization over an area of at least 500 m by 200 m (as reported by consulting geologist Majid Shokohi for Smith Copper, 1971). Copper grades were reported by Majid Shokohi in 14 intrusive and metasediment rock samples, ranging from 0.001% to 19.8% Cu and averaging 2.3% Cu*. In addition, three samples with significant gold grades of 0.01, 0.02 and 0.95 oz/t Au (0.3, 0.6 and 29.5 g/t Au) were reported from intervals of quartz vein within the area*.
* These analytical results are historical in nature and have not been verified by a "qualified person" as defined by National Instrument 43-101. Trench and sample locations are determined from maps with local grid coordinates of the day which cannot converted to modern coordinates with a high degree of accuracy. Results therefore should not be relied upon and should only be considered an indication of the mineral potential of the project.
Geological mapping by Smith Copper in 1971 indicates that copper mineralization is associated with altered, possible Tertiary age intrusions, consistent with a potential porphyry copper setting and analogous to other porphyry deposits in the northern part of the Walker Lane Mineral Belt. The mapping also identified propylitic, argillic and potassic alteration within granodiorite and monzonite intrusive rocks to the southeast of Copper Eagle along with regular copper occurrences.
T2 Metals has confirmed the copper, silver and gold grades reported by Majid Shokohi by assaying samples collected from five of the major test pits where historical assay results were reported. The results from the samples obtained by T2 Metals, substantiates the assay results from the 1971 report and are within the same range. T2 Metals has finished the compilation of historical data and is currently preparing for additional geochemical sampling and geophysics prior to drilling.
Figure 1: Location of the Copper Eagle Project, Nevada
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/205021_46f5d5b9c429eb42_002full.jpg
All samples were sent for assay at the ALS Global laboratory in Reno, Nevada.
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.
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. The Company continues to target under-explored areas, including the Sherridon, Lida, Cora and Copper Eagle projects where post-mineralization cover masks areas of high geological prospectivity in the vicinity of major mines.
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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205021