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Transition Metals Corp Announces the Commencement of Drilling on Its Sunday Lake Platinum-Palladium Property
Sudbury, Ontario--(Newsfile Corp. - January 20, 2020) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to announce that Impala Cana
About this update from Transition Metals Corp.
[{"type":"text","content":" Sudbury, Ontario--(Newsfile Corp. - January 20, 2020) - Transition Metals Corp (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce that Impala Canada Ltd. (Impala Canada) has resumed drilling at the Sunday Lake Platinum-Palladium (PGM) Property. Impala Platinum Holdings Limited (Implats) and Impala Canada Ltd. control a 75% interest in the Property and Transition holds a 25% free carried interest through to the completion of a Feasibility Study. Implats has communicated that it plans to drill 5,400 metres in four holes to test for high-grade PGM mineralization associated with the \"Big Red\" (AMT) anomaly identified from geophysical surveys completed in 2018. Drilling of this anomaly in 2019 returned significant mineralization including hole SL-19-026 which returned 41.20 metres @ 5.51 g/t Pt +Pd +Au (3.22 g/t Pt, 2.08 g/t Pd, 0.21 g/t Au, 0.57 % Cu) (see Company news release of April 29, 2019). Commenting on the results, Company CEO and President Scott McLean stated, \"We are pleased to see drilling resume following the completion of the North American Palladium - Impala transaction (see Impala news release of December 13, 2019). The Sunday Lake Property is a key project for Transition Metals with results thus far outlining significant continuous and thick intervals of Pt and Pd mineralization across an area which is now 1,500 by 900 metres in size. Drilling targeting the Big Red anomaly in 2019 returned the best grades and thicknesses of mineralization intersected to date on the property so we are very excited about the planned follow-up program.\" About the Sunday Lake Property The Sunday Lake Property is located 30 kilometres north of Thunder Bay and represents one in a series of mafic-ultramafic intrusions interpreted to be Proterozoic in age and related to the emerging Mid-Continental Rift (MCR) Ni-Cu-PGM camp. Recent discoveries in the district include Panoramic Resources', Thunder Bay North Project in Ontario, Lundin Mining's, Eagle Mine in Michigan and Rio Tinto's Tamarack Deposit in Minnesota. Mineralization in the Sunday Lake Intrusion is hosted within the Marginal Zone located along the basal contact of the intrusion and consists primarily of disseminated to blebby sulphides as well as isolated sections of massive sulphide. Higher-grade and thicker sections of the Marginal Zone are interpr...