Business
Transition Metals Provides Update on Field Programs in Ontario
Sudbury, Ontario--(Newsfile Corp. - July 19, 2022) - Transition Metals Corp (TSXV: XTM) ("Tran...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Metals Provides Update on Field Programs in OntarioSudbury, Ontario--(Newsfile Corp. - July 19, 2022) - Transition Metals Corp (TSXV: XTM) (\"Transition\", \"XTM, or \"Company\") is pleased to provide an update regarding field activities on three of the projects it is currently advancing in Ontario. Crews were deployed in late May to the Maude Lake Ni-Cu-Co-PGM project and in June to the Jolly Gold project, both located in northwestern Ontario. Crews are now being mobilized at the Aylmer Cu-Au project near Sudbury, Ontario in preparation for drilling.Transition CEO and President Scott McLean, P.Geo. stated \"I am pleased with the progress being made by our technical field crews in preparation for drilling at both the Maude Lake and Alymer projects this summer. As results come in, we anticipate a steady flow of news as we head into the fall.\" Maude Lake Program; At Maude Lake, work continues to highlight the very encouraging potential for this property to host high tenor Ni-Cu-Co-PGM mineralization. Initial channel sampling by the Company in 2019 of limited bedrock exposure in the vicinity of the historical Nicopar showing returned values including: 2.09 % Ni, 0.64 % Cu and 0.32 g/t PGM (Pt+Pd+Au) over 4.0 metres, 2.11 % Ni, 1.30 % Cu and 0.45 g/t PGM over 1.4 metres and 1.15 % Ni, 0.93 % Cu and 0.49 g/t PGM over 2.0 metres (see Company news release of October 15, 2019). A small resource potential was highlighted through programs of shallow exploration drilling completed by Zenmac in the 1960's, then by Novawest Resources in the early 2000's associated with a large regional magnetic and gravitational anomaly. Encouraged by the channel sample results, Transition undertook a modern airborne magnetic - time domain electromagnetic survey (Mag - VTEM) in January, that identified an undrilled, highly conductive feature associated with the surface showing (see Company news release of May 31, 2022).Over the past weeks, Transition field crews re-established trail access to the site and have completed mechanical stripping, channel sampling, and detailed mapping work, which expanded the known surface mineralization to an area approximately 20 by 80 metres in size. This stripping confirms the presence of zones of semi-massive to massive sulphides occurring near the base of a large gabbroic intrusion that appears to dip towards th...