T2 Metals Signs Drill Contract for the Sherridon Copper-Zinc Project, Manitoba
Newsfile Corp.
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Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A3DVMD) ("T2" or the "Company") is pleased to announce that the Company has signed a contract with Quesnel Bros. Diamond Drilling Ltd ("QB Drilling") for at least 3500 metres of core drilling at the Sherridon copper-gold project in the Flin Flon – Snow Lake District of west-central Manitoba. The program will include more than 20 drill holes and is the largest program at the project for more than 12 years. Drill preparations are well advanced, and a start is anticipated during mid-August.
Sherridon is a high-grade volcanogenic massive sulphide ("VMS") project with existing historical copper resources in an infrastructure-rich location. Targets for the upcoming program include near surface high grade gold mineralization, targets down plunge from historic resources, and new targets identified by integration of geology and geophysics.
Key features of the Sherridon project include:
High grade historic copper and zinc production from an orebody with approximately 2km of strike extent. Production totalled 7.74 million tonnes @ 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t Ag (see press release dated January 31, 2022);
Historical NI43-101 resources calculated in 2010 comprising 362 M lb of copper; 470 M lb of zinc; 0.22 M oz of gold and 4.5 M oz of silver (see press release dated January 31, 2022);
Recent drilling results that intersected high grade gold in wall rock outside the copper-zinc massive sulphide including 4.50 m grading 29.2 g/t Au and 138.8 g/t Ag from 38.0m;
A large alteration system and more than 30 km of strike length of the mineralized target horizon that contains numerous massive sulphide deposits and occurrences. VMS systems in the Flin Flon - Snow Lake District, have equal prospectivity down dip as along strike. At Sherridon, there is little drilling below 150m depth.
Excellent First Nations support, indicated by the 2023 signing of an Exploration Agreement with the Kiciwapa Cree Nation, and the 2024 receipt of an award for reconciliation efforts from Manitoba Prospectors and Developers Association; and
Strong support from the Province of Manitoba, highlighted by the receipt of more than $500k in grants from the Manitoba Mineral Development Fund (MMDF) in the past 12 months.
Mark Saxon, CEO of T2 Metals Corp., said "a substantial drilling program is well overdue at the Sherridon VMS camp. The project sat dormant for more than a decade until T2 Metals' involvement despite substantial past production and multiple prospects with high-grade Cu-Zn mineralization. The high gold grades intersected in our 2023 program demonstrates well the opportunity that drilling can unlock. In partnership with the Kiciwapa Cree we are excited to get discovery and development work underway."
Furthermore, T2 Metals is pleased to announce that it has retained Integral Wealth Securities Limited ("Integral") to provide market-making services in accordance with policies of the TSX Venture Exchange (the "TSXV").
Integral will assist in maintaining active and orderly trading in the market for the securities of T2 Metals. In consideration of the services provided by Integral, the Company will pay Integral a monthly fee of $6,000 for a minimum term of three months and renewable thereafter. The Company and Integral are unrelated and unaffiliated entities. Integral will not receive shares or options as compensation. The capital used for market-making will be provided by Integral.
Integral Wealth Securities Limited is an independent CIRO-licensed investment dealer engaged in market making, investment banking and wealth management. Headquartered in Toronto, the firm operates from nine offices across Canada. The firm's FINRA-licensed US broker dealer affiliate, Integral Wealth Securities LLC, is based in Malvern, PA and provides investment banking as well as private placement services.
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: 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.
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.
