T2 Metals Corp. Signs Contract for Drilling at the Lida Copper-Silver Project, Nevada
Vancouver, Nov. 28, 2022 - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce signing of a contract to commence drilling at the Lida copper-silver project on the Walker Lane Belt in Esmeralda County, Nevada (Figure 1). The contract and permits provide for the drilling of up to five holes, with a start anticipated during early December 2022. Permission for access construction and drilling was granted by the US Bureau of Land Management (Tonopah office) during October 2022, and drill sites are now in place.
The Lida project is characterized by a broad area of high-grade copper oxide/carbonate mineralization typically exposed within historic workings, that is associated with three buried high chargeability IP anomalies, each approximately 500m in length (see press release dated 23/08/22). Geological setting and IP character suggests Lida has highest potential for skarn-style mineralization developed within the carbonate-rich Poleta Formation. There is no indication from exploration records or field observations that the three IP targets have been previously drill tested.
"Lida is an exciting drill ready copper project within the Walker Lane, Nevada, one of the United States best and busiest exploration addresses. T2 Metals has built the target from concept, staking, sampling through geophysics and now to drilling," said Mark Saxon, President and CEO. "We anticipate an early December start to drilling by Beatty-based contractor Timberline Drilling Inc, enabling two weeks of drilling prior year end. Shareholders will be updated as the program progresses."
In 57 samples taken from dump and pit material, copper ranged from 26.20% Cu to 12 ppm Cu averaging 1.80% Cu. Twenty samples exceeded 1% Cu including 14 that exceeded 2% Cu.
Three large discrete upright/steeply dipping high-chargeability anomalies were discovered during an IP survey completed by T2 during Q2 2022 (Figure 2). The anomalies have a chargeability exceeding >40mV/V in a background of <10mV/V. Values above 10mV/V are typically considered anomalous. While there is often a direct correlation between chargeability and sulphide content, it may not correlate to economic mineralization.
Furthermore, T2 announces the resignation of Blair Way from the Board of Directors to focus on other corporate roles. The Company thanks Mr. Way for his contribution and support over many years.
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:
t2metals.com
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.
Figure 1: Location of the Lida copper silver project, west central Nevada
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7326/145801_aglfig1a.jpg
Figure 2: Stacked IP Pseudosections for the Lida copper silver project, looking northwest
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7326/145801_0679aa24b44708da_003full.jpg
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.