Copper Eagle (Nevada) – Cu, Au

Highlights:

The Copper Eagle project is 100% owned by T2 Metals, and lies within the Walker Lane Mineral Belt, in the vicinity of world class porphyry and skarn-type copper projects. Copper Eagle is located in Douglas County, Nevada, approximately 21 km southeast of Carson City and 32 km WNW of Yerington. The nearby Yerington mining district is a prolific copper producing region and is host to several large, world class copper mines and deposits including Pumpkin Hollow (23.9 mt @ 1.59% Cu), Yerington (162 mt @ 0.54% Cu) and Ann Mason (2.2 Bt @ 0.29% Cu). The project is accessible by Nevada Highway 395 to the west with simple power and railway access nearby.

Exploration at Copper Eagle was last recorded over 50 years ago, when significant zones of oxidized copper mineralization were exposed in trenches dug by a consortium of owners (I. Smith, J. Smith and P. Gerken) beneath shallow alluvial cover. Original exploration company records acquired by T2 Metals from the Nevada Bureau of Mines and Geology show trenching at Copper Eagle discovered sulfide and oxide copper mineralization over an area of at least 500 m by 200 m (as reported by consulting geologist Majid Shokohi for Smith Copper, 1971). Majid Shokohi reported copper grades from 14 intrusive and metasediment rock samples, which ranged from 0.001% to 19.8% Cu and averaged 2.3% Cu*. In addition, three samples with significant gold grades of 0.01, 0.02 and 0.95 oz/t Au (0.3, 0.6 and 29.5 g/t Au) were reported from intervals of quartz vein within the area.

*These analytical results are historical in nature and have not been verified by a “qualified person” as defined by National Instrument 43-101. Trench and sample 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.

Geological mapping by Smith Copper in 1971 indicates that copper mineralization is associated with altered, possible Tertiary age intrusions, consistent with a potential porphyry copper setting and analogous to other porphyry deposits in the northern part of the Walker Lane Mineral Belt. The mapping also identified propylitic, argillic and potassic alteration within granodiorite and monzonite intrusive rocks to the southeast of Copper Eagle along with regular copper occurrences.

T2 Metals geologists located various trenches and shallow pits/workings reported by Majid Shokohi. Representative rock chip samples were taken from dumps close to five of the most significant pits/workings across an area of approximately 200 by 200 metres. The five samples ranged from 0.04% to 10% copper (Cu) averaging 3.09%; from 0.18 to 32.5 g/t silver (Ag) averaging 16.4 g/t; and from 0.005 to 0.62 g/t gold averaging 0.15 g/t.  The assay results verify grades reported by Majid Shokohi and confirm the potential of the Copper Eagle project. In addition, the highest gold grade sample was associated with highly anomalous Te (3 ppm), Se (34 ppm), Ba (0.23%), In (1.9 ppm) and Sb (14 ppm), suggestive of a northern Nevada high sulfidation epithermal signature. High sulfidation systems are commonly genetically and spatially associated with porphyry copper-gold deposits.

CEO, Mark Saxon commented “These first assay results from shallow pits at Copper Eagle in Nevada are suggestive of epithermal or porphyry style mineralization, with prospectivity heightened by the epithermal pathfinder signature. With tightening global copper supplies and rapidly rising copper prices, we look forward to applying modern exploration methods at the Copper Eagle project to determine its potential. The United States requires more domestic sources of renewable energy materials, and with Cora, Lida and Copper Eagle, T2 Metals is well positioned to contribute to future supply.”

T2 Metals is now compiling historical data and preparing for geochemical sampling and geophysics prior to drilling.

Maps