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Transition and Forum Combine Efforts to Secure Camp Scale Land Position Around the Janice Lake Copper Project, Saskatchewan
Transition and Forum Combine Efforts to Secure Camp Scale Land Position Around the Janice ...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\n\nTransition and Forum Combine Efforts to Secure Camp Scale Land Position Around the Janice Lake Copper Project, Saskatchewan\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSUDBURY, ON, Feb. 15, 2018\n\n\n\nSUDBURY, ON, Feb. 15, 2018 /CNW/ - Transition Metals Corp. (\"Transition\", XTM – TSX.V) and Forum Uranium Corp. (\"Forum\", FDC-TSX.V) and, collectively (\"the Parties\") are pleased to announce that the Parties have successfully staked an additional 15,331 hectares of claims to cover over 30 km of the prospective copper trend in the Janice Lake area located 55 kilometres southeast of the Key Lake uranium processing facility. This significantly increases the size of the property to more than 190 square kilometres. (Figure 1).  More than 25 zones of copper mineralization have been identified on the property over a 10 km trend. Much of the remaining 20 km trend of prospective copper bearing stratigraphy remains under prospected or covered by thin overburden. \n\nScott McLean, President & CEO of Transition stated, \"the style of mineralization at Janice Lake is similar to other large Proterozoic sedimentary hosted copper deposits around the world.  By expanding its land position at Janice, Transition and Forum have secured a camp scale property position that includes approximately 30 kilometres of strike covering the prospective lithological unit hosting numerous copper showings on the property.\"\n\nThe Parties recently signed an agreement whereby Forum has the option to acquire a 100% interest in the Janice Lake Sedimentary Copper Property from Transition (see news release dated February 6, 2018 for details of the acquisition).  The arrangement is in line with Transition's project generator business model whereby it seeks partners to fund exploration of its projects thereby minimizing shareholders equity dilution while preserving discovery upside.\n\nIn 1993, 20 of 35 holes totaling 5,500m drilled by Noranda intersected near surface chalcocite copper mineralization. The best result at the JS showing near Janice Lake ...