Business
Transition Metals Receives Positive Assay Results from New Exploration Projects located in Northwestern Ontario
SUDBURY, ON, Sept. 5, 2018 /CNW/ - Transition Metals Corp (XTM – TSX.V) ("Transition", "the Company") is pleased to provide assays results from preliminary pros
About this update from Transition Metals Corp.
[{"type":"text","content":" SUDBURY, ON, Sept. 5, 2018 /CNW/ - Transition Metals Corp (XTM – TSX.V) (\"Transition\", \"the Company\") is pleased to provide assays results from preliminary prospecting completed on the company's Revell and Island Copper Projects located in northwestern Ontario. Both the Revell and Island Copper properties were acquired by XTM in April of 2018 as part of a much larger staking program (see April 23, 2018 – Press Release) designed at acquiring low-cost exploration assets consistent with the company's Project Generator Business Model. Revell Property The Revell Property is located 50 km SE of the town of Dryden in Revell and Hyndman townships along the TransCanada Highway. The Property covers a set of underexplored Ni-Cu-PGM showings, called the Tache East and West showings that were discovered in the 1960's. Historic drilling completed in 1967 on the Tache West showing encountered two shallow zones of Ni-Cu mineralization hosted within a marginal gabbroic unit that returned values of 10 ft @ 0.64% Ni, 0.77% Cu and 12 ft @ 0.68% Ni, 0.90% Cu. Three days were spent prospecting the Revell Property focusing on locating and resampling the historic Tache West and East showings. A total of 24 samples were collected and submitted for analyses. Highlights from that sampling are listed below. Sample Showing Pt (ppm) Pd (ppm) Au (ppm) Pt+Pd+Au (ppm) Cu (wt.%) Ni (wt.%) S899353 Tache West 0.269 0.371 0.361 1.00 0.64 0.11 S899355 Tache West 0.264 0.393 0.259 0.92 0.48 0.07 S899356 Tache West 0.102 0.150 0.081 0.33 0.31 0.07 S899358 Tache West 0.179 0.274 0.117 0.57 0.48 0.09 S899371 Tache East 0.092 0.294 0.057 0.44 0.29 0.14 S899376 Tache East 0.068 0.193 0.051 0.31 0.22 0.23 Island Copper Property The Island Copper Property is located 15 km north of Sault Ste. Marie in Aweres Township and covers an area that is interpreted to have high potential for IOCG-style, Cu-Au-Ag mineralization. Mineralization on the property is hosted in a highly altered granite breccia that is situated at the intersection of major crustal faults thought to represent the terrain boundary between Archean and Proterozoic rocks. Historic drilling completed on the property by Kennco Exploration in 1965 reported 11.59 m @ 3.4% Cu and 0.9g/t Au at the Main Showing. Prospecting the Island Copper Property focused on locating and resampling the historic Main Showing. A to...