Alteration And Porphyritic Dyke In Drilling At The Lida Project

VANCOUVER - T2 Metals Corp. reported on the drilling at the Lida copper - silver - gold project on the Walker Lane Belt in south-central Esmeralda County, Nevada. Two holes spaced approximately 900 m apart for a total of 884 m were completed in the program, both testing high chargeability anomalies identified in an induced polarization (IP) survey in 2022. Both drill holes intersected sulfide-bearing hydrothermal alteration with one hole encountering a porphyritic intrusive.

Highlights: Two holes completed at Lida, both intersecting altered and veined sequences of sedimentary rocks; Quartz-feldspar porphyritic intrusive intersected in one hole with pyrite veining and dissemination; Intense silica alteration zone with chalcocite (copper sulfide) associated with high resistivity intersected over a 900 m strike length; Drill samples have been submitted to a laboratory in Nevada, results released as they become available; and Additional drill targets now being identified.

Both drill holes intersected a mixed sequence of siliclastic sediments with lesser carbonate/limestone beneath a locally developed intermediate volcanic unit. The siliciclastic sediments display regular quartz-carbonate-pyrite-chlorite vein development with bleached and chloritic haloes, often associated with disseminated pyrite that may correspond to the outer margin of a porphyry style hydrothermal system.

Hole LD22001 intersected a porphyritic quartz-feldspar intrusive from 148.7m for approximately 20m. The intrusive is characterized by quartz phenocrysts up to 5mm in size, with regular cross cutting quartz-pyrite veins and disseminated intervals of pyrit. The intrusive and alteration assemblage together provide evidence of the potential proximity of a larger mineralized porphyry that may be the source of the extensive surface copper mineralization at Lida.

Of particular significance, both holes intersected a highly altered/silicified interval interpreted to be an altered intrusive or clastic unit. In hole LD22001, approximately 35m of this altered rock type was intersected to the end of hole at 380.2m. Finely disseminated chalcocite (copper sulfide mineral Cu2S) was identified (with the support of a pXRF), along with veinlets of pyrite and chalcocite. This unit or style of alteration has not been observed at surface at the Lida project.

The presence of this highly altered unit over a strike length of more than 900m presents a high prospective copper, gold and silver target. The altered unit corresponds to a zone of high resistivity that does not extend to surface but trends for more than 2km.

"Drilling a previously untested project is an exciting time in the exploration industry, and Lida has been no exception," said Mark Saxon, President and CEO. "Intersecting a sulfide-bearing porphyry intrusive beneath cover is a very positive result, but the highlight was the silica altered interval with chalcocite associated with high resistivity. Lida sits within the Walker Lane, one of the most gold rich regions of North America, while locally a major gold mining company has staked on our western claim margin. Alteration of this style may be indicative of potential for gold mineralization."

"We elected to pause the drilling program after two holes to learn more about the intersected rocks using geochemistry and petrology, and we shall return to further test this large and highly prospective target on the basis of that new data."