The Conversation (0)
Cyprium Metals Limited (“CYM”, “Cyprium” or “the Company”) continues to make solid progress on the development of its Nifty Copper Project.
HIGHLIGHTS
- Significant increase in MRE (Mineral Resource Estimate) with more to come
- SX/EW refurbishment advancing for recommissioning
- Camp, gas power-house, infrastructure, upgrading progressing for recommissioning
- Nifty Project Government Approval submissions lodged and on-track
- Metallurgical fine-tuning with optimisation of processing parameters & recoveries
- Project Financing in advanced discussions with financiers
Managing Director Barry Cahill commented:
“The Nifty Copper Project Restart Study demonstrates that the fundamentals of the project are robust, which does not include the increased Mineral Resource Estimate that we announced earlier this month.
We are currently focused on finalising the project debt financing for a fully funded project and then to execute our construction plans so that we produce copper metal plate on site in the second half of 2023.
While working through the finance process, Cyprium have not been idle, continuing to set Nifty up for the construction works post finance and pushing forward with the Maroochydore and Murchison Projects as assay results are received from the 2021 field season.”
Project Progress
Mineral Resource Estimate
The first mineral resource estimate (“MRE”) upgrade has been completed using the latest Nifty West drilling data with positive results. The next MRE update is to include the Nifty East drilling data. Further drilling will be undertaken as the orebody remains open in a number of directions.
The MRE upgrade has also delivered opportunities to refine and optimise the Phase 1 Oxide pit design and scheduling. The Life Of Mine planning has commenced and analysis for an expanded pit over the total mineral resource is focussing on the mine life (+20 years) and production profile.
Site Clean Up and Inventory
Since taking control of the site in April 2021, CYM has undertaken a significant clean-up of the mine site, including the rectification of a number of outstanding safety and environmental legacy issues. Progress to date has been significant but there is still much to do.
Site being cleaned up with scrap collected and sorted ready for sale or disposal:
There has been significant sorting of equipment, parts, critical spares and supplies, which is ongoing. Required equipment is being recredited to inventory and that which is not required is being collated for sale as surplus. The process has revealed the significant inventory of spares that was included in the Nifty acquisition.
Work has been completed on the concrete batching plant so it is ready for operation once construction commences, significantly improving project cost efficiencies during the construction phase.
SX-EW Refurbishment
Work has continued on the preparation for refurbishment of the solvent extraction and electrowinning (“SX-EW”) plant. This includes clean up around the facility, stripping out tanks, pumps and pipes for assessment and refurbishment, pressure and condition testing of tanks.
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This article includes content from Cyprium Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Cyprium Metals
Investor Insight
Cyprium Metals presents a compelling investment opportunity as a near-term copper producer with a well-defined strategy to generate early cash flow while scaling up production. The company’s brownfield assets, strategic partnerships, and disciplined capital management position it as an undervalued player in Australia’s growing copper market.
Overview
Cyprium Metals (ASX:CYM,OTC:CYPMF) is an Australian copper-focused exploration and development company dedicated to reviving brownfield assets with a clear path to production. The company’s primary focus is on the redevelopment of the Nifty copper complex, a historically productive copper mine in Western Australia, positioned for near-term production and long-term growth.
Nifty’s robust resource base, combined with strategic partnerships and a disciplined execution strategy, provides Cyprium with a strong foundation for scaling copper production. Advancing towards full copper production is the next strategic step, with plans to produce over 38,000 tons per annum through both cathode and concentrate production.
The company is also advancing the Maroochydore copper-cobalt project, located 70 km from Nifty, which further strengthens its asset portfolio in Paterson Province.
By prioritizing capital efficiency, operational excellence and commercial partnerships, Cyprium aims to deliver sustained value to shareholders while addressing the growing demand for copper in the global energy transition. Cyprium Metals is guided by a seasoned leadership team with deep experience in mine development, corporate strategy, and financial execution.
Company Highlights
- Cyprium Metals is redeveloping the Nifty Copper Complex, a historically significant copper operation with both oxide and sulphide resources, offering a low-risk pathway to production.
- The flagship Nifty Copper Complex has a mineral resource estimate of 1 million tonnes contained copper and 91,000 tonnes contained copper in leach pads, and has substantial near-term revenue potential.
- The reprocessing of existing heap leach pads at Nifty offers a low-cost, high-margin opportunity to generate early-stage revenue and fund further project development.
- Macmahon Holdings is leading the bankable feasibility study under an early contractor involvement model, contributing internal resources to optimize the project’s execution.
- Offtake and financing agreements secured with Glencore, providing financial stability and downstream integration for copper sales.
- Led by Executive Chairman Matt Fifield, Cyprium’s team includes seasoned mine builders and financial strategists with extensive experience in copper development and operations.
- Trading at a fraction of its asset value, Cyprium presents a compelling investment opportunity, with limited equity research coverage despite its strong fundamentals and near-term production timeline.
Key Projects
Nifty Copper Complex
The Nifty copper mine is Cyprium’s flagship project, boasting a well-defined resource and established infrastructure that significantly reduces the capital intensity of restarting operations. With a resource base of 1.04 million tons of contained copper, the project offers a 20+ year mine life with brownfield expansion opportunities.
A key advantage of Nifty is the near-term revenue potential from reprocessing 91,000 tons of copper in existing heap leach pads. Macmahon Holdings is leading the bankable feasibility study execution. The company is also working in collaboration with strategic partner Glencore to secure offtake agreements and financial support.
Leach solution from heap drains
The production strategy involves an initial focus on heap leach processing, followed by a full-scale restart of open-pit mining and concentrator operations with plans to produce over 38,000 tons per annum through both cathode and concentrate production. The asset is projected to generate AU$4 billion EBITDA over its lifecycle, with a five-year payback period.
Maroochydore Copper-Cobalt Project
The Maroochydore copper-cobalt project is positioned as Cyprium’s next growth asset, complementing Nifty and enhancing the company’s regional production capacity. This asset holds a resource base of 712,000 tons of copper, with recently updated mineral resource estimates confirming further expansion potential. Located just 70 km from Nifty, Maroochydore benefits from shared infrastructure and operational synergies, strengthening its strategic value within Cyprium’s portfolio.
Management Team
Matt Fifield – Executive Chairman
Matt Fifield is a proven leader in corporate turnarounds and resource development, instrumental in repositioning Cyprium as a growth-focused copper producer. He is the managing director of Pacific Road Capital, a leading resource investment firm that has managed over $1 billion in funds raised to develop and enhance resource companies around the world. Fifield has participated in over $10 billion of capital raising and M&A transactions across his career and is a leading voice on responsible resource investing. He is a frequent speaker and contributor around issues of sustainable development practices.
Colin Mackey – Chief Operating Officer
Colin Mackey has extensive experience in mine operations and development, overseeing the Nifty restart strategy. A mining engineer by background, Mackey has worked with Goldfields, BHP and Theiss, before joining Rio Tinto in 2003, where he led the construction, development and operational improvement of multiple mining operations within the company’s portfolio. His most recent role was as managing director of Jadar and European operations for Rio Tinto. Mackey is a member of the Institute of Materials, Minerals and Mining and the Australian Institute of Company Directors.
Louis Chait – Chief Commercial Officer
Louis Chait is the former CFO of Glencore Copper, bringing deep financial and commercial expertise. He is a highly experienced corporate executive with more than 25 years’ experience in the global resources industry, having worked across senior business development and finance positions at Xstrata and Guildford Coal. He brings extensive commercial experience and skills in establishing successful, highly efficient operations in multiple jurisdictions. Chait is a member of Chartered Accountants, Australia and New Zealand.
Manu Trivedi – Interim CFO
Manu Triverdi is a chartered accountant and a CPA with 16 years of experience in financial and business strategies, controllership, compliance and leadership across various industries covering mining, power generation and retail, hospitality, commodities trading and education. Trivedi previously worked as group financial controller for tungsten miner Masan Resources, and has held other senior finance positions for mining projects in South Africa.
Advancing Western Australia’s historic Nifty copper mine for near-term production and long-term growth
High-Grade Copper-Gold Extensions at Nugent
High Grade Copper-Gold mineralisation extensions discovered during extensional and infill drilling at Nugent, with multiple outstanding intersections returned, including:
- 21m @ 0.85% Cu + 0.98g/t Au from 136m downhole in 25KVUG0653
- 15m @ 0.91% Cu + 0.29g/t Au from 161m downhole in 25KVUG0653
- 11.5m @ 0.99% Cu + 0.79g/t Au from 145.5m downhole in 25KVUG0543
- Including 4m @ 1.93% Cu +1.14g/t Au from 153m
- 8m @ 0.85% Cu + 0.36g/t Au from 177m downhole in 25KVUG0555
- 5m @ 1.43% Cu + 0.34g/t Au from 194m downhole in 25KVUG0555
- 3m @ 0.98% Cu + 0.99g/t Au from 171m downhole in 25KVUG0559
- 4m @ 0.76% Cu + 0.46g/t Au from 177m downhole in 25KVUG0559
Figure 1: Plan View of drilling showing the high Gold grades intersected at the Southern end of Nugent against the 2024 MRE sliced at the 1020 metre RL displaying Gold grades.
Commenting on the drilling results, Hillgrove CEO and Managing Director, Bob Fulker said:
“It is encouraging that each time we test a geological theory we continue to identify additional mineralisation and gain a better understanding of the controls on mineralisation. These results are very exciting, as they provide a greater understanding of the Gold distribution throughout Nugent. It was previously thought that the Southern extent of Nugent had lower Gold grade, based on previous drilling, but these results show this is not the case.
It is also pleasing that as we drill beyond our current understanding of the Nugent ore body, we continue to encounter an expanding alteration corridor with Copper and Gold mineralisation within it. The Nugent 1020 Southern Ore Drive will commence stoping in the December quarter this year.”
Figure 2: View towards the east showing the high Copper grades intersected at the Southern end of Nugent against the 2024 MRE displaying Copper Grades
The Nugent drilling completed to date has targeted resource definition, with the focus shifting in recent weeks to grade control as first Nugent production draws closer. The recent assays from the 1010 diamond drill site have a dual purpose of both grade control and resource definition, with the results sitting further south-west than previously identified from resource drilling at surface. The high-grade intersections include 21metres @ 0.85% Cu and 0.98g/t Au (uncut) from 136 metres downhole in 25KVUG0653 and 11.5 metres @ 0.99% Cu & 0.79g/t Au (uncut) from 145.5 metres downhole in 25KVUG0543. These results improve the understanding of high-grade geometry and interaction of the Copper and Gold bearing fluids in the alteration corridor.
Drilling is ongoing for both stope definition and resource expansion throughout the Kanmantoo system, with upcoming Nugent drilling planned to target the northern end of the 1020 level. This will provide input into future planning alongside operational requirements for stope and development designs. Drilling is currently underway from the 1010 diamond drill site targeting Emily Star, with initial results pending.
Figure 1 above details the location of significant intersections relating to the current 2024 Kanmantoo Mineral Resource Estimate1 gold values, with gold results displayed for the drilling results. The full list of significant intersections is included in Table 1 below. Figure 2 above details a section view of drilling results showing the Copper results against the 2024 Kanmantoo Mineral Resource Estimate1 Copper values.
Drilling from underground remains on track to achieve the target of 60,000 metres by the end of the calendar year. August delivered 8,114.6 metres of diamond drilling, which is a record for the company to date. Year-to-date, a total of 42,816.2 metres has been drilled. An updated Resource estimation will be released in the December quarter 2025 inclusive of drilling results up to mid-August.
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This article includes content from Hillgrove Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Empire Metals Limited Announces Director/PDMR Shareholding
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted resource exploration and development company, announces that it was notified today that Mr Greg Kuenzel, Finance Director, purchased 111,091 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") at a price of 45 pence each.
Following this purchase, Mr Kuenzel's total beneficial ownership in the Company is 3,969,669 Ordinary Shares representing 0.57% of the Company's issued share capital.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE, OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Empire Metals Limited Announces Exercise of Options
Application for Admission
Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 18 September 2025.
Following Admission of the new shares as described above, the issued share capital of the Company will consist of 693,393,221 ordinary shares of no-par value. 693,393,221 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON:EEE)(OTCQX:EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
T2 Metals Secures Option to Acquire Shanghai Gold-Silver Project in Yukon's Tombstone Gold Belt and Appoints Shawn Ryan to Advisory Board
Highlights:
- Large landholding in the Tombstone Gold Belt, one of North America's premier gold and silver mining districts;
- Project lies within 10 km of multiple resource-stage gold projects as reported within NI43-101 compliant technical reports since 2022 (see resource information pertaining to the Eagle, Olive, Raven, Airstrip and Powerline projects in Table 1 and www.sedarplus.ca for supporting technical reports);
- Similar geological setting to major discoveries by Sitka Gold Corp and Banyan Gold Corp;
- No prior exploration drilling on the property;
- High gold, silver, antimony and bismuth in soil samples provide immediate targets. Gold values in soil up to 6.1 g/t Au;
- Permits in place for road construction and drilling;
- Highly regarded and successful explorer Shawn Ryan to join T2 Metals' Advisory Board;
The Shanghai project sits within the northwest portion of the Yukon's Tombstone Gold Belt, one of North America's most active and gold-endowed mining districts, and home to the famous Klondike goldfield (Figure 1). Recent exploration of the Tombstone Gold Belt by Snowline Gold Corp (Valley project), Sitka Gold Corp (RC Gold project), Banyan Gold Corp (AurMac project) and Sanatana Resources Inc have highlighted the potential for major new gold discoveries and value creation.
Mark Saxon, CEO of T2 Metals Corp., said, "We have worked hard to identify high potential gold projects to augment our existing portfolio, and are very pleased to have secured Shanghai in one of North America's premier gold exploration districts. The project has been held by Shawn Ryan for over 20 years, during which time major gold projects have been discovered on the property boundaries.
New investment by a range of explorers in the Tombstone Gold Belt is progressively revealing significant gold deposits. We are very pleased to join the search, supported by one of the Yukon's most successful explorers in Shawn Ryan."
Project partner, Shawn Ryan, commented, "The geology and geochemistry of the Shanghai project look a lot like that from the surrounding resource-stage gold deposits, and it is a project well overdue for drilling. We are keen to see what T2 Metals will discover and I'm very happy to be advising their technical team."
Figure 1: Regional Location of the Shanghai Project, Yukon Territory, Canada.
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_002full.jpg
The Shanghai claims cover a large area of Hyland Group metasediments immediately above the Robert Service Thrust fault with mapped mid-Cretaceous (~90Ma) Tombstone Plutonic Suite intrusions (Figure 2, 3). This setting is analogous to the AurMac deposit of Banyan Gold Corp, which hosts 112.5 million tonnes at 0.63 g/t Au (for 2.28 million oz of gold) in the Indicated Resource estimate category; and 280.6 million tonnes at 0.60 g/t Au (for 5.50 million ounces of gold) in the Inferred Resource estimate category, only 6 km to the south of Shanghai (resource information for the AurMac deposit is based on a technical report prepared for Banyan Gold Corp titled Technical Report, Aurmac Property, Yukon Territory, Canada by Hantelmann, T. et al., with an effective date of June 28, 2025 and available at www.sedarplus.ca). See Table 1 for additional information.
The presence of the Tombstone Plutonic Suite is similar to the Yukon's most exciting recent discoveries that lie to the east (Snowline) and west (Sitka) of Shanghai.
From 2004, Ryan staked the areas surrounding the historical Shanghai silver-lead-zinc mine north of Mayo, identifying overlapping potential for intrusion-related gold and high-grade silver. As the Hyland Group presents limited outcrop, Ryan applied the techniques utilised during his discovery of the White Gold and Coffee deposits and collected more than 4,000 auger soil samples. This sample data has defined areas of high gold-antimony-bismuth, an association that correlates well to the intrusion-related gold deposits being explored by Banyan Gold Corp, Sitka Gold Corp and Snowline Gold Corp; and areas of high silver-lead which correlates to Keno Hill style mineralization.
Auger soil data covers an area of 23 km2 with gold values ranging from <0.5 ppb to 6.1 ppm averaging 17 ppb; silver values ranging from <0.05 ppm to >100 ppm averaging 0.4 ppm; and lead ranging from 15 ppm to >1% averaging 27 ppm (4435 samples). In addition to auger soil sampling, Ryan completed ground magnetics and induced polarization ("IP") geophysics over much of the Shanghai property. The reader is cautioned that while this information is considered reliable the Qualified Person and the Company have relied on data provided by the Optionor and has been unable to verify the information independently. Additional information as to the history of the Shanghai project can be found in NI43-101 Technical Report titled "Shanghai Project Technical Report, Mayo Mining District, Yukon" dated July 15, 2022 by Doherty, R. A. (P. Geo.) on behalf of Targa Exploration Corp. on www.sedarplus.ca.
Despite the discovery potential of the project, and geological similarity to major deposits, no exploration drilling has been completed at Shanghai. T2 Metals proposes additional surface sampling and local geophysics to better refine and prioritise target areas, followed by drilling during 2026. The Shanghai project holds a valid Class 3 Quartz Mining Land Use permit which enables drilling, road construction and installation of a camp if required. The project lies within 5km of the Eagle Gold Mine road and 6 km from Baynan Gold Corp's AurMac camp.
Figure 2: Geological Map for Shanghai Project, Yukon Territory, Canada.
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/265810_08849d2834cbbb3d_003full.jpg
Figure 3: Cross Section from Shanghai Project to AurMac Deposit Area (see Figure for Section line).
To view an enhanced version of this graphic, please visit:
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Option Terms
Subject to receipt of TSX Venture Exchange ("TSXV") approval of the Option Agreement, T2 Metals will have the option to acquire a 100% undivided interest in the Shanghai project, for a total consideration of $500,000 in cash and 3,000,000 common shares of T2 Metals to be paid to the Optionor in incremental amounts over a seven-year period, which may be accelerated at the discretion of T2 Metals. An initial cash payment of $50,000 and an initial payment of 300,000 common shares in T2 Metals will be made following TSXV acceptance of the Transaction. All shares issued under the Option Agreement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
In order to exercise the Option, T2 Metals is also required to incur exploration expenditures on the Shanghai project totalling a minimum of $1,800,000 over six years, including $100,000 by November 15, 2026. Upon commencement of commercial production on the Shanghai project, the Optionor will retain a 2% net smelter return royalty on the property with 1% purchasable by T2 Metals for the cash payment of $1,000,000 to the Optionor.
The claims are located within the traditional territory of the Nacho Nyak Dun First nation, which has settled its land claim, and is a self-governing first nation.
About Shawn Ryan
As part of the Shanghai transaction, Shawn Ryan has agreed to join T2 Metals Advisory Board. Shawn is a well-known prospector and entrepreneur in the Yukon's mineral exploration industry. He is recognized for his innovative and systematic approach to gold exploration, which has been credited with sparking a "second Klondike gold rush". Ryan's career is marked by a methodical approach to sampling, including development of a novel auger soil sampling technique, a method particularly effective in the Yukon where thick soil layers often obscure bedrock.
Shawn Ryan's work led to several significant discoveries including the Golden Saddle and Arc deposits, which became part of the multi-million ounce White Gold Project acquired by Kinross Gold, and the Coffee project, which was sold to Goldcorp (now Newmont Corporation) for $520 million. His contributions to the industry have earned him numerous awards, including the Bill Dennis Award for prospecting from the Prospectors & Developers Association of Canada (PDAC). Shawn's work is seen as a major factor in modernizing exploration in the Yukon and drawing new attention to the territory's mineral potential.
Figure 4: Gold in Auger Soil Geochemistry from Shanghai Project, Yukon Territory, Canada.
To view an enhanced version of this graphic, please visit:
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Figure 5: Silver in Auger Soil Geochemistry from Shanghai Project, Yukon Territory, Canada.
To view an enhanced version of this graphic, please visit:
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Figure 6: Site Visit to Shanghai Project. Photo looking south to AurMac Deposit.
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About the Historic Shanghai Mine
The Shanghai mine is hosted by the Keno Hill Quartzite immediately below the regionally extensive Robert Service Thrust fault. It lies on the northern limb of the McQuesten Antiform, presenting a mirror image of the Keno Hill camp found on the southern limb of this antiform.
During the 1960's the Shanghai Mine was explored by Silver Titan Mines Ltd with close to 800 m of underground development. Assays reported from underground workings that followed veins included 9.1 m @ 1182.8 g/t Ag, 8.2% Pb and 7.2% Zn (average width of 1.5 m) (Yukon Minfile 105M 028).
About the Tombstone Gold Belt
The Tombstone Gold Belt, a component of the larger Tintina Gold Province, is a highly prospective metallogenic province in the Yukon, with a range of well-known and emerging gold discoveries. The belt is characterized by a suite of mid-Cretaceous, reduced, felsic intrusions known as the Tombstone Plutonic Suite. These intrusive bodies and the surrounding host rocks have created conditions for the formation of numerous Intrusion-Related Gold Systems (IRGS). Exploration efforts have identified multiple mineralized corridors with gold hosted in sheeted quartz veins and disseminated mineralization within both the intrusive bodies and the hornfelsed country rocks.
Gold mineralization in the Tombstone Gold Belt is typically associated with a distinctive multi-element signature that includes bismuth, tellurium, and tungsten, along with arsenic and antimony. Gold-bearing fluids exsolved from cooling intrusions and preferentially deposited gold in brittle, structurally controlled environments. Both high-grade, structurally-controlled vein systems and lower-grade, bulk-tonnage deposits are known. The region hosts numerous significant deposits and is the site of recent discoveries by companies such as Snowline Gold Corp., Banyan Gold Corp. and Sitka Gold Corp.
Table 1: Gold Deposits in the Tombstone Gold Belt with NI43-101 References
| Project | EFFECTIVE DATE | Author | Report For | Tonnes (M) | Au (g/t) | Contained Gold | Status |
| Brewery Creek | 18/01/2022 | Cook. C. et al., 2022. | Sabre Gold Mines Corp | 34.5 | 1.03 | 1.142 M oz | Measured & Indicated |
| 36.0 | 0.88 | 1.018 M oz | Inferred | ||||
| Report Title: Preliminary Economic Assessment. NI 43-101 Technical Report on the Brewery Creek Project Yukon Territory, Canada | |||||||
| Eagle (Dublin Gulch) | 31/12/2022 | Harvey, N., 2022 | Victoria Gold Corp | 233.2 | 0.57 | 4.303 M oz | Measured & Indicated |
| 36.2 | 0.62 | 0.724 M oz | Inferred | ||||
| Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada | |||||||
| Olive (Dublin Gulch) | 31/12/2022 | Harvey, N., 2022 | Victoria Gold Corp | 11.6 | 0.97 | 0.361 M oz | Measured & Indicated |
| 5.5 | 1.17 | 206,479 | Inferred | ||||
| Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada | |||||||
| Raven (Dublin Gulch) | 15/09/2022 | Jutras, M., 2022. | Victoria Gold Corp | 19.9 | 1.67 | 1.071 M oz | Inferred |
| Report Title: Technical Report On The Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada | |||||||
| Blackjack (RC Gold) | 21/01/2025 | Simpson. R., 2025 | Sitka Gold Corp | 39.9 | 1.01 | 1.298 M oz | Indicated |
| 34.6 | 0.94 | 1.045 M oz | Inferred | ||||
| Report Title: Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory | |||||||
| Eiger (RC Gold) | 19/01/2023 | Simpson. R., 2025 | Sitka Gold Corp | 27.4 | 0.5 | 0.440 M oz | Inferred |
| Report Title: Clear Creek Property, RC Gold Project. NI 43-101 Technical Report. Dawson Mining District, Yukon Territory | |||||||
| Airstrip (AurMac) | 28/06/2025 | Jutras, M., 2025 | Banyan Gold Corp | 27.7 | 0.69 | 0.614 M oz | Indicated |
| 10.1 | 0.75 | 0.244 M oz | Inferred | ||||
| Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada | |||||||
| Powerline (AurMac) | 28/06/2025 | Jutras, M., 2025 | Banyan Gold Corp | 84.8 | 0.61 | 1.663 M oz | Indicated |
| 270.4 | 0.60 | 5.216 M oz | Inferred | ||||
| Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada | |||||||
| Florin | 6/04/2025 | Simpson. R., 2021 | St. James Gold Corp. | 170.9 | 0.45 | 2.474 M oz | Inferred |
| Report Title: Florin Gold Project. NI 43-101 Technical Report. Mayo and Dawson Mining Districts, Yukon Territory | |||||||
| Valley (Rouge) | 15/05/2025 | Burrell. H. et al., 2024 | Snowline Gold Corp | 75.8 | 1.66 | 4,047 M oz | Indicated |
| 81.0 | 1.25 | 3.256 M oz | Inferred | ||||
| Report Title: Rogue Project. NI 43-101 Technical Report and Mineral Resource Estimate. Yukon Territory, Canada |
Disclaimers
The qualified person (as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects) 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.
Readers are cautioned that the discussion about adjacent or similar properties in this press release is not necessarily indicative of the mineralization or potential of the Shanghai property. The Company has no interest in or right to acquire any interest in any such adjacent properties.
About T2 Metals Corp (TSXV: TWO) (OTCQB: TWOSF) (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 Shanghai Project in the Yukon, and the Cora Project in Arizona.
ON BEHALF OF THE BOARD,
| "Mark Saxon" Mark Saxon President & CEO | For further information, please contact: t2metals.com 1 (604) 685-93161305 - 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 information in this press release include statements regarding the potential exercise of the Option and obtaining regulatory approval for the Option, and future exploration plans for the Company on the Shanghai project. 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; risks in obtaining regulatory approval; the impact of exploration competition; unexpected geological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market risks. 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 forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
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