T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) has issued a clarification regarding its technical disclosure for the Sherridon Project following a review by the British Columbia Securities Commission (BCSC). The company’s previous references to historical mineral resource estimates were found to be non-compliant with National Instrument 43-101 (NI 43-101) standards. T2 Metals has updated its corporate presentation to correct the disclosure and include necessary disclaimers.
The company will prepare a new NI 43-101 compliant technical report for the Sherridon Project, which will report mineral resources as historical rather than current. Additional work will be required to define current mineral resources on the project. The company’s Chief Executive Officer, Mark Saxon, has reviewed and approved this clarification.
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) ha emesso un chiarimento riguardo alla sua divulgazione tecnica per il Progetto Sherridon a seguito di una revisione da parte della British Columbia Securities Commission (BCSC). I precedenti riferimenti dell’azienda alle stime storiche delle risorse minerarie sono stati considerati non conformi agli standard del National Instrument 43-101 (NI 43-101). T2 Metals ha aggiornato la propria presentazione aziendale per correggere la divulgazione e includere le necessarie dichiarazioni di esclusione della responsabilità.
L’azienda preparerà un nuovo rapporto tecnico conforme al NI 43-101 per il Progetto Sherridon, che riporterà le risorse minerarie come storiche anziché attuali. Sarà necessario ulteriore lavoro per definire le risorse minerarie attuali del progetto. Il Chief Executive Officer dell’azienda, Mark Saxon, ha esaminato e approvato questo chiarimento.
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) ha emitido un aclaración respecto a su divulgación técnica para el Proyecto Sherridon tras una revisión de la British Columbia Securities Commission (BCSC). Las referencias anteriores de la empresa a las estimaciones históricas de recursos minerales fueron consideradas no conformes a los estándares del National Instrument 43-101 (NI 43-101). T2 Metals ha actualizado su presentación corporativa para corregir la divulgación e incluir las necesarias advertencias.
La empresa preparará un nuevo informe técnico conforme al NI 43-101 para el Proyecto Sherridon, que reportará los recursos minerales como históricos en lugar de actuales. Se requerirá trabajo adicional para definir los recursos minerales actuales en el proyecto. El Director Ejecutivo de la empresa, Mark Saxon, ha revisado y aprobado esta aclaración.
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF)는 브리티시컬럼비아 증권 위원회(BCSC)의 검토 후 셔리돈 프로젝트에 대한 기술 공시에 관한 명확화를 발표했습니다. 회사의 과거 광물 자원 추정치에 대한 언급은 국가 수단 43-101(NI 43-101) 기준을 준수하지 않는 것으로 나타났습니다. T2 Metals는 기업 발표를 업데이트하여 공시를 수정하고 필요한 부인을 포함했습니다.
회사는 셔리돈 프로젝트에 대해 NI 43-101 준수 기술 보고서를 새로 준비할 예정이며, 이는 광물 자원을 현재가 아닌 역사적으로 보고할 것입니다. 프로젝트의 현재 광물 자원을 정의하기 위해 추가 작업이 필요할 것입니다. 회사의 최고 경영자(CEO)인 마크 색슨(Mark Saxon)은 이 명확화를 검토하고 승인했습니다.
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) a publié une clarification concernant sa divulgation technique pour le Projet Sherridon suite à un examen par la British Columbia Securities Commission (BCSC). Les références précédentes de l’entreprise aux estimations historiques des ressources minérales ont été jugées non conformes aux normes de l’instrument national 43-101 (NI 43-101). T2 Metals a mis à jour sa présentation d’entreprise pour corriger la divulgation et inclure les avertissements nécessaires.
L’entreprise va préparer un nouveau rapport technique conforme au NI 43-101 pour le Projet Sherridon, qui rapportera les ressources minérales comme historiques plutôt qu’actuelles. Des travaux supplémentaires seront nécessaires pour définir les ressources minérales actuelles du projet. Le directeur général de l’entreprise, Mark Saxon, a examiné et approuvé cette clarification.
T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) hat eine Klarstellung zu seinen technischen Offenlegungen für das Sherridon-Projekt nach einer Überprüfung durch die British Columbia Securities Commission (BCSC) veröffentlicht. Die vorherigen Hinweise des Unternehmens auf historische Mineralressourcenschätzungen wurden als nicht konform mit den Standards des National Instrument 43-101 (NI 43-101) eingestuft. T2 Metals hat seine Unternehmenspräsentation aktualisiert, um die Offenlegung zu korrigieren und notwendige Haftungsausschlüsse zu enthalten.
Das Unternehmen wird einen neuen, NI 43-101-konformen technischen Bericht für das Sherridon-Projekt vorbereiten, der Mineralressourcen als historisch anstelle von aktuell berichten wird. Zusätzliche Arbeiten sind erforderlich, um die aktuellen Mineralressourcen im Projekt zu definieren. Der Geschäftsführer des Unternehmens, Mark Saxon, hat diese Klarstellung geprüft und genehmigt.
Positive
- Company is proactively addressing regulatory compliance issues
- New NI 43-101 compliant technical report to be prepared for the Sherridon Project
Negative
- Previous mineral resource estimates were non-compliant with NI 43-101 standards
- Historical mineral resource estimates should not be relied upon until verified
- Additional work required to define current mineral resources, potentially incurring costs
Vancouver, British Columbia–(Newsfile Corp. – August 14, 2024) – T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E) (“T2” or the “Company”) announces that as a result of a review by the British Columbia Securities Commission (“BCSC”) of the Company’s technical disclosure, the Company is issuing this news release to clarify its disclosure.
The BCSC reviewed the Company’s references to the historical mineral resource estimate on the Sherridon Project in the Company’s March 2024 corporate presentation and multiple news releases. The disclosure used by the Company was seen as treating historical estimates as current and this is not in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
As a result, the disclosure of mineral resources are not supported by a compliant NI 43-101 technical report contrary to NI 43-101, and they should not be relied on until they have been verified and supported by a current technical report. The Company has updated its corporate presentation to correct this disclosure and include the required disclaimers.
The Company will be preparing a new technical report in accordance with NI 43-101 on the Sherridon Project, which will be filed under the Company’s SEDAR+ profile. The technical report will not verify the historical estimate as a current mineral resource, and will instead report the mineral resources as historical in nature. Additional work will be required to define current mineral resources on the Sherridon Project.
The qualified person 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.
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. The Company continues to target under-explored areas, including the Sherridon, Lida, Cora and Copper Eagle projects where post-mineralization cover masks areas of high geological prospectivity in the vicinity of major mines.
ON BEHALF OF THE BOARD,
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 statements in this press release include the preparation of a technical report and the potential verification of the historical estimate. 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, geological conditions, success of future development initiatives, obtaining necessary permits and approvals, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, changes in world metal markets, changes in equity markets, environmental and safety risks and one-time events. 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/219821
FAQ
What regulatory issue is T2 Metals (TSXV: TWO) addressing for its Sherridon Project?
T2 Metals is addressing non-compliance with National Instrument 43-101 standards regarding the disclosure of historical mineral resource estimates for its Sherridon Project, as identified by the British Columbia Securities Commission.
How is T2 Metals (OTCQB: TWOSF) correcting its technical disclosure for the Sherridon Project?
T2 Metals is updating its corporate presentation with correct disclosures and disclaimers, and will prepare a new NI 43-101 compliant technical report for the Sherridon Project that will report mineral resources as historical rather than current.
What actions are required for T2 Metals (TSXV: TWO) to define current mineral resources at the Sherridon Project?
T2 Metals will need to conduct additional work to define current mineral resources at the Sherridon Project, as the historical estimates cannot be relied upon until verified and supported by a current technical report.
