T2 Metals Files NI 43-101 Mineral Resource Estimate Report for the Sherridon Copper-Zinc-Gold-Silver Project, Manitoba, Canada
T2 Metals Corp. (TWO) has filed an independent NI 43-101 Technical Report detailing the Mineral Resource Estimate for its 100%-owned Sherridon Copper-Gold Zinc-Silver Project in Manitoba. The estimate defines four copper-dominant volcanogenic massive sulfide (VMS) deposits—Bob, Cold Lake, Lost Lake, and Jungle—totaling 10.04 million tonnes (Mt) in the Indicated category and 18.15 Mt in the Inferred category. All deposits begin at surface and remain open at depth and along strike.
The Indicated Mineral Resource comprises 10.04 Mt grading 0.39% copper (Cu), 0.83% zinc (Zn), 0.30 grams per tonne (g/t) gold (Au), and 4.75 g/t silver (Ag), representing a 1.0% Cu equivalent (CuEq). This category contains approximately 86 million pounds of Cu and 96,000 ounces of Au. The Inferred Mineral Resource consists of 18.15 Mt grading 1.08% Cu, 1.00% Zn, 0.27 g/t Au, and 7.05 g/t Ag, representing a 1.7% CuEq. This category contains approximately 430 million pounds of Cu and 158,000 ounces of Au.
The resource model indicates that more than 60% of the defined mineralization is accessible via shallow open pits. High-grade near-surface mineralization at the Cold Lake and Lost Lake deposits has been highlighted for near-term mining potential. The estimate utilized a net smelter return (NSR) cut-off of US$20/t for open pit and US$55/t for underground operations. Metal prices used in the calculation were $5.00/lb Cu, $1.30/lb Zn, $3,500/oz Au, and $45.00/oz Ag. Metallurgical recoveries were assumed at 92% for Cu, 83% for Zn, 65% for Au, and 57% for Ag.
The project benefits from established infrastructure, including an operational First Nations-owned rail line, year-round all-weather road access, and proximity to the Flin Flon mining community. Additional logistical advantages include existing exploration camp and drill infrastructure, as well as grid electricity at Sherridon Village.
Mark Saxon, President & CEO of T2 Metals Corp., stated: "The resource modelling contained within this technical report confirms what the T2 Metals team have long understood — that Sherridon is a robust, brownfields, multi-deposit VMS district with scale, grade and room to grow. With the report now on file, our focus shifts to the next phase of work: identifying targets along strike and at depth for each resource, advancing metallurgical and environmental baseline studies, and evaluating a Preliminary Economic Assessment."
The effective date of the Mineral Resource Estimate is April 22, 2026. The technical report was prepared by Qualified Persons Geoffrey Reed of ReedLeyton Consulting, Bengt Anders Hogrelius of Hogrelius Geological Consultants, and Bouke van 't Riet of Arundon Mining Solutions Oy.
Next steps for the project include resource expansion drilling at the Bob, Cold Lake, Lost Lake, and Jungle deposits, as well as mineralogical and metallurgical test work and environmental baseline studies. T2 Metals also plans to complete an NI 43-101 resource estimate for the historical Park deposit and advance toward a Preliminary Economic Assessment.