T2 Metals Completes Drill Targeting and Initiates Permitting at the Cora Copper Project, Arizona
Vancouver, March 2, 2023 - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce completion of targeting for an upcoming drill program at the Cora copper project in Pinal County, Arizona. Permit applications for the drill program are being submitted with the Bureau of Land Management (Tucson Office) to allow for the construction of up to five drill sites and associated access. In parallel, the Company is evaluating contracts for drill pad construction and core drilling.
Cora lies 75km NNE of Tucson within the heart of the southern Arizona copper belt, surrounded by many of North America's largest copper mines and development projects. The project is 100% owned by the Company, secured by 46 granted BLM lode mining claims covering a total of 3.84 sq km. Cora is characterized by a broad area of copper oxide/carbonate mineralization under shallow cover to the immediate east of the North Star copper mine (closed in 1970, see Figure 1). Copper mineralization was discovered at Cora by a set of core and open ("churn") drill holes completed drilled during the 1950's and 1960's. The mineralization style exposed at the North Star (see Figures 2 and 3) and described in drill logs suggest Cora has the potential to host porphyry copper style mineralization buried under alluvial cover.
The prospectivity of the Cora target was enhanced by a geophysical survey (aeromagnetic and radiometric) completed by T2 Metals during 2022 (see press release dated June 9, 2022). The aeromagnetic data defined a discrete oval shaped magnetic low (Figure 4), interpreted to be approximately 1.5km x 1.5km in size and corresponding in part with the area of oxide copper mineralization drilled by California Steel Co. in the 1950s. The magnetic low is interpreted to correspond to an intrusive body, strongly supporting a buried copper porphyry style target.
Original exploration company records held by the Geological Survey of Arizona indicate past drilling at Cora intersected oxide copper mineralization over widths in excess of 100 m, beneath shallow alluvial cover, over an area of at least 1km by 1km. Intervals include:
- DH5: 99.7m (327ft) @ 0.28% Cu*, below 10.7m of alluvial cover (California Steel Co., 1950s)
- DH4: 39.6m (130ft) @ 0.38% Cu*, below 47.2m of alluvial cover (California Steel Co., 1950s)
- DH1: 225.5m (740ft) @ 0.29% Cu*, below 42.7m of alluvial cover (California Steel Co., 1950s)
The shallow depth of cover is supported by CSAMT profiles which highlight the sub-surface cover-bedrock contact.
Mark Saxon, President & CEO of T2 Metals commented, "T2's 2022 aeromagnetic survey proved to be very successful in locating a prime copper exploration target under shallow cover at Cora. The oval shaped low-magnetic feature together with widespread copper oxide mineralization discovered in holes drilled 70 years ago, supports buried porphyry copper style mineralization.
"Recent site visits have enabled drill and access planning for our highest priority targets. Drill permitting is well advanced and we look forward to testing this anomaly with drilling planned to begin in Q2 2023."
The T2 Metals team will attend the PDAC conference in Toronto from the 5th to the 8th of March with Booth 2941. Please visit to discuss Cora or other opportunities in the T2 Metals portfolio or contact CEO Mark Saxon (msaxon@t2metals.com).
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 Lida and Cora projects where post-mineralization cover masks areas of high geological prospectivity in the vicinity of major mines.
Figure 1: Looking southeast across North Star copper mine to Cora project (North Star not owned by T2 Metals).
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7326/156883_c776f852a4bb8b92_002full.jpg
Figure 2: Copper oxide and carbonate mineralized rocks from North Star mine dumps (North Star not owned by T2 Metals).
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7326/156883_fig2.jpg
Figure 3: Sericite altered intrusive rocks from North Star mine dumps (North Star not owned by T2 Metals).
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7326/156883_c776f852a4bb8b92_005full.jpg
Figure 4: Magnetic low lying under cover at Cora Copper project, defined in Aguila's 2022 aeromagnetic survey. RTP Image shown with Cora claim outline (yellow), boundary of outcrop (brown) and copper prospective zone (red). WGS 84 UTM zone 12N
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/7326/156883_fig4.jpg
Technical Background
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. The Company has obtained historic exploration data for this press release from the Geological Survey of Arizona. Although historic exploration data was generated by reputable companies applying practice of the day, Aguila 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.
*Drilling results are historical in nature and have not been verified by a "qualified person" as defined by National Instrument 43-101. Drill 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.
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,
"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.
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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