T2 Metals Commences First-Ever Surface Diamond Drill Program at the Shanghai Project, Yukon, Canada
T2 Metals has begun a 1,500 m, 10‑hole drill program at its Shanghai silver-gold project in Yukon, targeting two mineralization styles.
Rhea-AI Summary
T2 Metals (TWOSF) has started its first-ever surface diamond drill program at the Shanghai Silver-Gold Project in the Mayo Mining District, Yukon, Canada.
The fully permitted program will comprise approximately 1,500 m of drilling in 10 holes, targeting both high-grade Keno Hill-style silver-lead-zinc veins and AurMac-style reduced intrusion-related gold systems. Priority targets include the Shanghai Silver Mine and Shanghai NE prospects, where historical work recorded underground intercepts of 1,182.8 g/t Ag, 8.2% Pb and 7.2% Zn over 9.1 m, and the Bella prospect, defined by strong gold- and silver-in-soil anomalies along the projected Robert Service Thrust. Recent mapping, soil and rock sampling, LiDAR, VLF-EM and airborne geophysics have been integrated to refine these drill targets.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Program Underway to Test High-Grade Keno Hill-style Silver-Lead-Zinc and AurMac-style Gold-Silver Targets
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2026) - T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (FSE: WJ6) ("T2 Metals" or the "Company") is pleased to announce that surface diamond drilling has commenced at the Company's Shanghai Silver-Gold Project ("Shanghai" or the "Project") in central Yukon, Canada. This first-ever surface drill program at Shanghai marks a major operational milestone as the Company continues to advance its exploration activities in the Yukon.
Project Location
Shanghai is located in the Mayo Mining District within the Tombstone Gold Belt, one of North America's most prolific silver and gold mining regions (Figure 1) and is surrounded by multi-million-ounce deposits (Figure 2, Table 1).
The Project shares key geological characteristics with Hecla Mining's Keno Hill District ("Keno Hill"), one of the world's highest-grade silver districts, located 6 km to the southeast. Shanghai also shares significant geological characteristics with Banyan Gold's AurMac Project ("AurMac"), one of Canada's largest unmined gold deposits, located 6 km to the south, and the Eagle Gold Mine, the largest gold mine ever built in the territory, located 12 km to the northwest.
Two Distinct Styles of Mineralization
The Project holds potential for two distinct styles of mineralization: high-grade vein deposits rich in silver, lead and zinc, as well as a Reduced Intrusion-Related Gold System ("RIRGS"), a deposit style typically characterized by large-scale, bulk-tonnage gold. This geological setting is influenced by two major regional structures: the McQuesten Antiform and the Robert Service Thrust fault system (Figure 2), which have played an important role in the distribution of mineralization across the Mayo Mining District.
This first drill program will test high-priority targets that show analogous geological settings to Keno Hill and AurMac (Figure 3 and Figure 4). These targets represent the two distinct styles of mineralization identified at Shanghai and are supported by extensive historical and recently completed exploration work.
Program Highlights
Drilling at Shanghai will total approximately 1,500 m in 10 holes to test multiple targets, including:
- Shanghai Silver Mine prospect: Testing high-grade, Keno Hill-style Ag-Pb-Zn veins in the area of past development — a highly prospective area defined by soil geochemistry and historical surface assays up to 1.1 oz/t Au and 790.5 oz/t Ag, as well as historical underground sampling and drilling that intersected 1,182.8 g/t Ag,
8.2% Pb and7.2% Zn over 9.1 m (YUKON MINFILE 105M 028). - Shanghai NE prospect: Testing the strike extension of the Shanghai Silver Mine to the northeast, where prominent surface lineaments define a structural trend away from the mine, associated with high silver, lead and zinc values in soil sampling, typical of Keno Hill-style mineralization.
- Bella prospect: Testing AurMac-style targets (RIRGS) that are defined by strong gold, silver and pathfinder elements in soil sampling associated with the projection of the regional Robert Service Thrust Fault.
Key project data and permitting milestones at Shanghai to date include:
Drill targets that have been refined through the integration of historical work as well as T2 Metals' recent geological mapping, soil and rock sampling, LiDAR, and airborne magnetic and radiometric surveys;
VLF-EM surveying that has defined a clear conductor/resistor corridor coincident with strong soil anomalies, providing high-priority structural targets;
A Class 3 Permit, which means the Project is fully permitted for drilling, road construction and camp installation.
Mark Saxon, President & CEO of T2 Metals, said:
"Getting a rig turning at a property that has never been drilled from surface is an exciting project milestone. From the first drill platform, we can see historic mines at Keno Hill and AurMac, which place us right in the heart of a proven, world-class district with significant discovery potential. The exceptional grades and significant intervals recorded in underground workings at the Shanghai Silver Mine provide a robust starting point for our drill program. Combining the systematic soil sampling by renowned Yukon explorer, Shawn Ryan, with our own mapping and sampling gives us real conviction in our targets. We look forward to seeing what drilling reveals and reporting results as they come to hand."
Figure 1: Location of T2 Metals' Shanghai and Aurora projects in the Tombstone Gold Belt, Yukon, Canada.
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Geological Context: Tombstone Gold Belt
Shanghai is situated within the northwest portion of the Yukon's Tombstone Gold Belt, a core component of the broader, highly endowed Tintina Gold Province that stretches from southwestern Alaska, USA, to the border of the Northwest Territories, Canada.
The Tombstone Gold Belt is globally recognized for hosting prolific, intrusion-related mineral systems driven by mid-Cretaceous reduced felsic plutons, genetically associated with RIRGS. Shanghai's position on the McQuesten Antiform and its proximity to the Robert Service Thrust provide a unique geological setting that creates a highly prospective metallogenic environment capable of generating two distinct styles of mineralization.
Mineralization Style: Keno Hill (Ag-Pb-Zn)
The high-grade silver targets at Shanghai are polymetallic Keno Hill-style vein systems, similar to those developed at the Shanghai Silver Mine in the early 1960s. This style of mineralization consists of high-grade veins and structural breccias rich in silver, lead and zinc. Hydrothermal fluids preferentially migrated through complex fault splays along the northern limb of the McQuesten Antiform, where regional folding fractured the brittle Keno Hill Quartzite to create ideal dilation networks, analogous to mineralization found across the wider Keno Hill District.
Historical underground work at the Shanghai Silver Mine returned high-grade mineralization, including 1,182.8 g/t Ag,
Mineralization Style: AurMac (Au-Ag)
In addition to the high-grade silver veins, Shanghai shares the same geological signature as the multi-million-ounce RIRGS discoveries in the region, such as the AurMac deposit approximately 6 km to the south.
The targets are spatially and structurally associated with the regional projection of the Robert Service Thrust, which acted as a deep-seated structural conduit for gold-bearing magmatic fluids from the Tombstone Plutonic Suite. These targets are typically characterized by large-scale, bulk-tonnage gold mineralization hosted within sheeted quartz vein arrays in deformed mica schist and phyllite.
Robust gold-in-soil geochemical anomalies across the property highlight the substantial scale potential of this target style, providing the Project with strong dual-commodity upside.
Figure 2: Location of T2 Metals' Shanghai Project in relation to the Keno Hill District, AurMac Project and Eagle Gold Mine, Mayo Mining District, Yukon, Canada.
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2026 Exploration Program
T2 Metals commenced its 2026 exploration program at Shanghai in June (see news release dated June 30, 2026), building on the Company's 2025 reconnaissance work and historical exploration data. The program included geological mapping, soil and rock sampling, LiDAR surveying, VLF-EM surveying and a helicopter-borne aeromagnetic and radiometric survey covering approximately 31 sq km and 425 line-km (see news release dated July 15, 2026). The airborne survey was designed to provide a district-scale view of the Project and identify buried or blind Tombstone Plutonic Suite intrusions and associated alteration that may be related to gold and silver mineralization.
Results from the 2026 exploration program have been integrated with historical mining and mapping data and the Company's existing soil and rock geochemistry to refine drill targets (Figure 3 and Figure 4).
The current drill program is prioritizing targets at the Shanghai Silver Mine (Figure 5), Shanghai NE and Bella prospects, all located in the southern portion of the property. Shanghai Silver Mine and Shanghai NE targets are focused on the strike and depth continuity of the silver-mineralized structures identified in the mine and in surface trenches. Areas of very high-grade silver were identified for mining but not exploited in the early 1960s at Shanghai, while modern LiDAR, mapping and soil sampling has extended the prospective zone away from the mined area to the Shanghai NE prospect.
The Bella prospect sits on the projected trend of the regionally significant Robert Service Thrust fault, matching the setting of AurMac. The prospect has been prioritized on the basis of highly gold and silver anomalous soil samples with elevated pathfinder elements over an area of 300 m x 300 m.
Additional intrusion-related targets in the northern portion of the property will be evaluated in subsequent programs.
Figure 3: Silver-in-soil geochemistry and geology, Shanghai Project, Yukon, Canada.
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Figure 4: Gold-in-soil geochemistry and geology, Shanghai Project, Yukon, Canada.
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Project History
The Shanghai property was first discovered and staked in the early 1960s by renowned Yukon explorer Dr. Aaro E. Aho, and subsequently explored by Silver Titan Mines. Led by Dr. Aho, approximately 800 metres of underground development and underground drilling were completed at the historical Shanghai Silver Mine, which ultimately gave the Project its modern-day name.
Although the Project was being prepared for production, operations were halted in 1964 as exploration activities shifted to other parts of the territory. This work led to Aho's significant discovery of the Faro deposit in south-central Yukon, which became one of the world's largest open-pit lead-zinc mines five years later.
The Shanghai Silver Mine and surrounding ground remained dormant for several decades until Shawn Ryan staked the area in 2004. Applying his systematic soil sampling methodology, he established the potential for mineralization beyond the historic workings and recognized the importance of regional thrust faults in controlling mineralization.
T2 Metals acquired the option to earn a
| 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 | 0.206 M oz | 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 | |||||||
Table 1: Selected Gold Deposits in the Tombstone Gold Belt with NI 43-101 References, Yukon, Canada
Figure 5: Looking east toward Hecla Mining's Keno Hill District from T2 Metals' Shanghai Silver Mine Prospect, Shanghai Project, Yukon, Canada.
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Shanghai Project Midpoint: Google Earth Link
Qualified Person
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 President & CEO, 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 news release.
About T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (FSE: WJ6)
T2 Metals Corp. is an emerging precious and critical strategic metals company enhancing shareholder value through exploration and discovery. T2 Metals is committed to engaging with rights holders and stakeholders with the highest level of respect, ensuring that our exploration activities contribute positively to the communities in which we operate.
ON BEHALF OF THE BOARD
| "Mark Saxon" | For further information, please contact: www.t2metals.com |
| Mark Saxon | |
| President & CEO | 1305 – 1090 West Georgia Street, 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 news 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 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. 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 Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314531
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What specific targets are being tested in the Shanghai drill program?
The program is testing three main areas: the Shanghai Silver Mine prospect for high-grade Keno Hill-style Ag-Pb-Zn veins in the area of past underground development; the Shanghai NE prospect, which is a strike extension of the Shanghai Silver Mine defined by structural lineaments and elevated silver, lead and zinc in soils; and the Bella prospect, an AurMac-style intrusion-related gold target characterized by gold- and silver-in-soil anomalies with elevated pathfinder elements over an area of about 300 m by 300 m along the projected Robert Service Thrust.
How is the Shanghai Project currently permitted for exploration activities?
The Shanghai Project operates under a Class 3 Permit, which allows drilling, road construction and camp installation. This means the current surface diamond drill program and related infrastructure activities are already covered by existing permits.
What prior work guided the 2026 drill targeting at Shanghai?
The 2026 targeting incorporates historical underground development and drilling at the Shanghai Silver Mine, T2 Metals' 2025 reconnaissance work, and a 2026 program that included geological mapping, soil and rock sampling, LiDAR, VLF-EM surveying and a helicopter-borne aeromagnetic and radiometric survey over approximately 31 sq km and 425 line-km. These datasets were combined to refine structural and geochemical targets for the current drill program.
Who is the Qualified Person for the Shanghai Project disclosure?
The Qualified Person for T2 Metals' projects, including the Shanghai Project, is Mark Saxon, the company’s President & CEO. He is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, and he has reviewed and approved the technical content of the disclosure.