Business
Transition Discovers New Showing Hosting up to 38.7 g/t Gold at the Sawmill Au-Cu Property, Sudbury Area Ontario
Sudbury, Ontario--(Newsfile Corp. - January 14, 2021) - Transition Metals Corp. (TSXV: XTM) ("...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Discovers New Showing Hosting up to 38.7 g/t Gold at the Sawmill Au-Cu Property, Sudbury Area OntarioSudbury, Ontario--(Newsfile Corp. - January 14, 2021) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce the discovery of a new high-grade gold occurrence (the JBM Showing) on its Sawmill property. Grab samples collected by Transition in late November, 2020 at the JBM showing returned high-grade assays of 38.7 g/t Au and 30.7 g/t Au (Table 1, Figure 2). Encouraging gold results were also returned from grab sampling at four other areas on the property that were followed up on with channel sampling before winter conditions halted further sampling. Highlights from the channel sampling are presented below in (Table 2).CEO, Scott McLean commented, \"Our interest in the Sawmill property is part of a regional strategy we are pursuing in 2021 to investigate Sudbury Area polymetallic exploration plays. We are encouraged by the results at the Sawmill property and are looking forward to following up on these results this winter. While Covid 19 continues to impact the ability of some companies to work effectively in remote locations, the Sawmill property is accessible year round from Transition's home base in Sudbury.\"2020 Transition Sampling ProgramIn late fall of 2020, Transition geologists conducted a first pass programme of prospecting on the property which resulted in the collection of 50 grab samples from various sites of interest returning gold values ranging from nil to 38.7 g/t Au (1.24 oz per tonne) and silver values ranging from <0.05 to 189 g/t (6.07 oz per tonne). Of particular interest, the JBM, high grade gold showing was discovered along the edge of a pit that was excavated prior to Transition acquiring the property to expose a marble occurrence. Highlights from the grab sampling results are presented below in Table 1. Table 1. Highlight Grab Samples from November 2020 Sampling ProgrammeAreaEastingNorthingAu (g/t)Ag (g/t)Cu %Pb %JBM Showing506383518781238.7<0.5<.01<.01JBM Showing506383518781230.7<0.50.05<.01A1 - Zone508584518542828.733.40.01<.01A1 - Zone508671518546516.25.9<.01<.01A1 - Zone50857751854164.77.50.03<.01A1 - Zone50867151854651.1<0.5<.01<.01Galena Vein Showing509577518643513.2125.01.285.38Galena Vein Showing5095775186435...