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Transition Metals Announces Sunday Lake Drill Results Including 41.2m @ 5.51 g/t PGM and 0.57% Cu
Sudbury, Ontario--(Newsfile Corp. - April 29, 2019) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to announce it has received as
About this update from Transition Metals Corp.
[{"type":"text","content":" Sudbury, Ontario--(Newsfile Corp. - April 29, 2019) - Transition Metals Corp (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce it has received assay results from the previously disclosed drill program (see XTM press release dated February 12, 2019) conducted by North American Palladium Ltd. (NAP), on the Sunday Lake Platinum-Palladium Project located 25 km north of Thunder Bay, Ontario. NAP holds an option to earn up to a 75% interest in the property from Impala Platinum Holdings Limited (Implats) and XTM holds a 25% free carried interest through to the completion of a Feasibility Study. Highlights: Thickest and highest grade intersection encountered to date on the property reported in hole SL-19-026 that returned 41.20 m @ 5.51 g/t PGM (3.22 g/t Pt, 2.08 g/t Pd, 0.21 g/t Au) and 0.57% Cu including a high grade section of 15.80 m @ 9.11 g/t PGM (5.42 g/t Pt, 3.35 g/t Pd, 0.34 g/t Au) and 0.88% Cu. Hole SL-19-29 intersected 61.00 m @ 2.20 g/t PGM (1.20 g/t Pt, 0.80 g/t Pd, 0.15 g/t Au) including 8.17m @ 5.44 g/t PGM (3.20 g/t Pt, 2.00 g/t Pd, 0.33 g/t Au). Drilling has confirmed extensive PGM and base metal sulfide mineralization located along the lower part of the Sunday Lake intrusion (the \"SLI\") that is modelled by NAP as a near-continuous blanket with a north-south extent of approximately 1.5 km and an east-west extent of 900 metres. High-grade PGM mineralization associated with the basal contact of the SLI can be successfully targeted using surface and borehole geophysics. Numerous high-quality targets remain to be tested. Results are sourced from a NAP news release dated April 29, 2019. Please refer to that release for the full information regarding the drill program. Commenting on the results, Company CEO and President Scott McLean, P.Geo. stated: \"We've had tremendous exploration success at Sunday Lake since drilling the discovery hole in 2013. These recent drill results provided by Option Partner NAP, are the best reported to date, and comparable in overall grade to what is currently being mined by NAP at its nearby Lac Des Illes mine and mill complex. Mr. McLean continued: \"This successful drilling is an excellent example of the upside of the project generator business model employed by Transition. The Company discovered the PGM-Ni-Cu mineralization through a strategic alliance partnership with I...