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Transition Announces 2020/2021 Exploration Plans Including 2,000m of Diamond Drilling for the Janice Lake Sedimentary Copper Project, Saskatchewan
Sudbury, Ontario--(Newsfile Corp. - May 21, 2020) - Transition Metals Corp. (TSXV: XTM) ("Tran...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Announces 2020/2021 Exploration Plans Including 2,000m of Diamond Drilling for the Janice Lake Sedimentary Copper Project, SaskatchewanSudbury, Ontario--(Newsfile Corp. - May 21, 2020) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"XTM\") is pleased to announce that option partner Forum Energy Metals (\"Forum\") together with Rio Tinto Exploration (\"RTEC\") have announced plans to complete an extensive summer exploration program at Janice Lake, Saskatchewan. This work will include a 2,000 metre reconnaissance diamond drill program to test targets on known mineralized zones, systematic mapping and prospecting across the 52 kilometre strike extent of the property and the completion of a regional Audio-frequency Magnetotelluric (AMT) transect. Detailed geochemical and geophysical surveys will be carried out over known mineralized zones to aid in drill-target selection. In addition, RTEC and Forum will mobilize a Rotary Air Blast (RAB) drill rig to test for near surface bedrock copper showings in areas with poor bedrock exposure. As reported in the Transition news release of January 22, 2020 (and by Forum on January 21, 2020) RTEC received a permit to build a winter access trail and install a temporary 65-80 person capacity work camp. RTEC has completed a 110 kilometre trail to the project area and will now work towards completing the construction of a camp capable of supporting more focused programs drilling on the property in the future.Commenting on the plans, Transition CEO and President Scott McLean, P.Geo. stated, \"We are pleased with the progress at Janice and with RTEC's commitment to more fully investigate the potential of what we consider to be an emerging copper district. While RTEC will be focusing its energy this summer at Janice Lake, Transition will be initiating similar property scale investigations at its 100% owned Wollaston Copper project located approximately 50 kilometres to the southwest with the vision of attracting a partner.\" About the Janice Lake ProjectJanice Lake project is under option from Transition to Forum which subsequently optioned a portion of its potential interest to RTEC whereby RTEC can earn up to 80% interest in the project by spending $30 million (see XTM news release; May 9, 2019). Transition receives 8,000,000 shares of Forum and is entitled to $250,000 cash pa...