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Transition Metals Identifies a Large Gold Exploration Target Associated with a Camp Scale Extension of the Beardmore-Geraldton Greenstone Belt, Ontario
Sudbury, Ontario--(Newsfile Corp. - June 6, 2023) - Transition Metals Corp. (TSXV: XTM) ("Transit...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Metals Identifies a Large Gold Exploration Target Associated with a Camp Scale Extension of the Beardmore-Geraldton Greenstone Belt, OntarioSudbury, Ontario--(Newsfile Corp. - June 6, 2023) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to provide an interpretation of results from field work completed at the Company's 100% owned and optioned Jolly Gold property, located a one hour drive north of Thunder Bay, Ontario (Figure 1). Work completed in 2021 and 2022 has identified a large gold exploration target, which demonstrates the potential for a camp scale extension to this highly prospective mineralized region west of Lake Nipigon.\"The data highlights a compelling new gold target at Jolly,\" stated CEO Scott McLean. \"The gold values we have exposed in outcrop occur within a 4 km long trend of elevated gold pathfinder elements in soils occurring in favourable geology between two major fault systems. This is a classic setting for the formation of large gold systems in Archean greenstone settings and is similar to what is observed in the Beardmore-Geraldton Gold Camp on the east side of Lake Nipigon.\"Work completed by Transition in 2021 and 2022 included; the completion of a high-resolution airborne magnetic survey, property scale orientation mapping and prospecting, the completion of a 1,159 sample MMI soil survey covering approximately a third of the property and the mechanical excavation and detailed structural mapping and sampling of 4 trenches. Discussion of ResultsThe airborne magnetic survey highlighted three major northeast trending fault systems transecting the property, trends of iron formation as well as a network of east by northeast cross structures parallel to those hosting gold at known showings between the Poshkokagan and Warpula Lake fault systems. The MMI sampling highlights a 4-kilometer trend of elevated gold pathfinder elements in soil developed with gold values up to 50 times background (Figure 2). This soil trend appears to follow and underlying cluster of syntectonic intrusions. Channel sampling in the vicinity of the Fat Beagle showing (located within this trend) exposed two zones of gold mineralization associated with east-west shearing. The Fat Beagle north showing consists of a 5 metre wide zone of veining exposed along strike in trench for 15 metres. The...