T2 Metals Receives Drill Permit for the Sherridon Copper-Zinc Project, Manitoba
Vancouver, September 19, 2023 - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce that the Company has received permission to drill at the Sherridon copper-zinc project from the Manitoba Department of Economic Development, Investment and Trade. The permit allows for execution of the proposed 2023 drill program, and future drill programs until May 2026, subject to notification of future proposals.
Sherridon is a well known VHMS camp in the Flin Flon - Snow Lake district of west-central Manitoba. The Sherridon camp has both a significant mining history and substantial copper-rich historical resources calculated on behalf of Halo Resources Ltd. in 2010.
The 2023 drilling program by T2 Metals will target the Lost and Cold historical resource areas where high grade copper (Cu) and zinc (Zn) rich mineralization has previously been discovered from surface to more than 250 metres vertical depth. These two prospects comprise a continuously mineralized horizon over a strike length of approximately 1.8km. Despite many high-grade Cu-Zn-Ag results, the project has seen no exploration drilling for more than 10 years.
The Lost and Cold prospects were the subject of investment by Hudbay Minerals Inc. from 2009 - 2012 that included metallurgical drilling with a view to open pit mining and subsequent processing in Flin Flon. The prospects have existing road/surface access, lie with 1km of an operational rail line, and are only 2km from the Sherridon village which facilitates lower cost exploration and is highly favourable for a potential future mining operation.
A drilling contract has been signed with Quesnel Bros. Diamond Drilling Ltd ("QB Drilling") for at least 1,600 metres of core drilling in approximately 10 holes. The drilling program will be undertaken in close collaboration with the Kiciwapa Cree and Mathias Colomb Cree Nations, with whom an Exploration Agreement was recently signed (see press released dated 13th June 2023). A drill start is imminent, at which point a detailed drill program will be shared.
Mark Saxon, CEO of T2 Metals Corp. said, "We appreciate the support of the Manitoba Government permitting authorities in granting the first permit to drill at Sherridon for more than ten years. This is an exciting project to re-launch, and fits extremely well with the recently announced Manitoba Critical Minerals Strategy. Despite substantial past production and multiple resource prospects that were progressing toward mining, the area has not received any recent exploration. We see a bright future in partnership with the Kiciwapa Cree as we progress through and new phase of discovery."
The recent launch of "The Manitoba Critical Minerals Strategy: Driving Sustainable Growth" by the Government of Manitoba highlights the importance of exploration for copper and other critical metals and minerals in Manitoba. The Honorable Heather Stefanson, Premier of Manitoba, noted that the "clean and low-cost energy sources, competitive business costs, a young and skilled workforce, and world-class education and research institutions" alongside high geological potential places Manitoba in an excellent position to continue to supply low-carbon metals to the world.
Sherridon is a large volcanic hosted massive sulphide (VHMS) camp with an extensive mining history and multiple copper-zinc-silver-gold historical resources and occurrences. The project is well-served by all weather roads, rail and the Sherridon/Cold Lake village.
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.
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,
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/181045