T2 Metals Corp. announced signing of a contract to commence drilling at the Lida copper-silver project on the Walker Lane Belt in Esmeralda County, Nevada. The contract and permits provide for the drilling of up to five holes, with a start anticipated during early December 2022.

Permission for access construction and drilling was granted by the US Bureau of Land Management (Tonopah office) during October 2022, and drill sites are now in place. The Lida project is characterized by a broad area of high-grade copper oxide/carbonate mineralization typically exposed within historic workings, that is associated with three buried high chargeability IP anomalies, each approximately 500m in length. Geological setting and IP character suggests Lida has highest potential for skarn-style mineralization developed within the carbonate-rich Poleta Formation.

There is no indication from exploration records or field observations that the three IP targets have been previously drill tested. In 57 samples taken from dump and pit material, copper ranged from 26.20% Cu to 12 ppm Cu averaging 1.80% Cu. Twenty samples exceeded 1% Cu including 14 that exceeded 2% Cu.

Three large discrete upright/steeply dipping high-chargeability anomalies were discovered during an IP survey completed by T2 during second quarter 2022. The anomalies have a chargeability exceeding >40mV/V in a background of <10mV/V. Values above 10mV/V are typically considered anomalous. While there is often a direct correlation between chargeability and sulphide content, it may not correlate to economic mineralization.