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Transition Metals Completes Ground Fixed Loop Electromagnetic Survey and Receives OJEP Grant Funding for Maude Lake Project, Ontario
Sudbury, Ontario--(Newsfile Corp. - July 19, 2023) - Transition Metals Corp. (TSXV: XTM) ("Transi...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Metals Completes Ground Fixed Loop Electromagnetic Survey and Receives OJEP Grant Funding for Maude Lake Project, OntarioSudbury, Ontario--(Newsfile Corp. - July 19, 2023) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce the successful completion of a comprehensive ground fixed loop electromagnetic (EM) survey on its Maude Lake Property (\"the Property\") near Schreiber, Ontario. Furthermore, we are delighted to announce that Transition has received an Ontario Junior Exploration Program (OJEP) grant from the Ontario Government to support our ongoing exploration efforts.Through the OJEP program, Transition has been selected to receive up to $200,000 to cover 50% of eligible explorations costs on the project, aimed at facilitating the exploration of Critical Minerals within Ontario. The receipt of grant funding represents a meaningful milestone, leveraging government support towards advancing the exploration of this high tenor magmatic nickel project.The ground fixed loop electromagnetic survey was designed to provide detailed information on the subsurface geology and potential mineralization at the Property. The EM survey covered 174 hectares over portions of a strongly magnetic trend associated with mineralization tested in 2022 (see company press releases dated November 22, 2022), where drilling interested 20.01 metres averaging 0.33% Ni, 0.28% Cu and 0.13 g/t PGM*, including 4.00 metres averaging 0.61% Ni, 0.53% Cu and 0.23 g/t PGM* in hole ML-22-01, and with 1.17 metres averaging 2.16% Ni, 0.52% Cu and 0.27 g/t PGM* in Hole ML-22-02 (*PGM is reported as combined Pt + Pd + Au). The most compelling conductive feature is also coincident with an off-hole borehole electromagnetic anomaly detected in hole ML-22-03 (see Company news release dated April 24, 2023).CEO of Transition Metals Corp, Scott McLean commented, \"Results from the EM survey confirm the presence of a large conductive target situated down dip from the mineralization we intersected at Maude Lake last fall. We are excited to move forward with the next phase of exploration with financial support of the OJEP funding to further define the scale and extent of the mineralization.\"About the Maude Lake PropertyThe Property is located approximately 10 kilometres north of the community of Schreiber, Ontario, within th...