Business
Airborne Geophysical Survey Outlines Extensive Anomalies at Janice Lake Copper Property - Transition Metals to Commence Follow-up Field work
SUDBURY, ON , Aug. 13, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V) is ple...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\nSUDBURY, ON, Aug. 13, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V) is pleased to announce that the results of a versatile time domain electromagnetic (VTEM) and horizontal magnetic gradiometer survey of the Janice Lake property, Saskatchewan, completed by Aeroquest Airborne, have led to the initiation of a ground follow-up program. A total of 700 line-kilometres of geophysical data were acquired during late May and early June covering most of the 20 copper occurrences located in the central portion of the Property. Integration of this geophysical data with previous geological mapping, historical ground magnetic and induced polarization surveys, and copper intersections in historical diamond drill holes have identified previously unexplored extensions to a number of the copper occurrences potentially associated with additional sedimentary-hosted copper/silver mineralization. \n\nChief Geophysicist Kevin Stevens commented, \"The known mineralized formations exhibit well defined and traceable geophysical signatures. The extensiveness and continuity of these signatures is supporting evidence that these formations have the potential to host large tonnages of near surface copper mineralization. We have identified 5 high priority areas that we believe have the right combination of geophysical signatures to be targeted by drilling subject to the results and confirmation of the ground exploration program.\" \n\nTransition Metals holds a 100% interest in the 11,684 ha (117 km2) Janice Lake property, which is located approximately 55 km southeast of Key Lake, in north-central Saskatchewan. The Property hosts over 20 copper occurrences which have been characterised by the Saskatchewan Geological Survey as having many of the characteristics of the sediment-hosted copper deposit model (Delaney, 1995)¹. Historical drill results by Noranda in 1993 included 0.77% Cu over 33.0 m including 1.6% Cu over 6 m, within 35 m of surface. Grab samples collected by Transition Metals during an August 2012 visit to the property returned values ranging from 0.34 to 9.35% copper and 0.7 to 61.7 g/t silver, confirming previous reports of high-grade mineralization at surface, and highlighting the potential for the discovery of multiple near-surface, sediment-hosted copper deposits.\n\nCollectively, sediment-hosted copper deposits are estima...