Transition Reports High Grade Au Mineralization on the Western Extension of Beardmore-Geraldton Greenstone Belt, Ontario

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[{"type":"text","content":"Transition Reports High Grade Au Mineralization on the Western Extension of Beardmore-Geraldton Greenstone Belt, OntarioSudbury, Ontario--(Newsfile Corp. - October 19, 2021) - Transition Metals Corp (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce its summer prospecting and sampling work continues to support the interpretation that its Jolly Gold property covers the western extension of the prolific Beardmore-Geraldton Greenstone Belt (BGB) (Figure 1). The property covers a sulphide-facies iron formation that caps the northern assemblage of mafic metavolcanic flows overlain by intermediate pyroclastics. Gold deposits elsewhere in the BGB, such as the 4.5 Moz I&I Hardrock deposit¹ under development by Greenstone Gold near Geraldton, are considered classic examples of epigenetic, non-stratiform, banded iron formation-hosted gold deposits. Other notable deposits within the BGB include the Brookbank (0.6 Moz M&I)², the Sand River and Leitch Mine (past production of 0.9 Moz)³, the Northern Empire Mine and Sturgeon River Mine.In July the Company completed a first pass mapping and prospecting program on Jolly Gold which included cutting and assaying of 114 channel samples on the historical Fat Beagle trench (Figure 2, Table 1) as well as collecting 82 prospecting grab samples across the 45.6 km2 property before work was halted due to local forest fire conditions. This work followed up on the initial property visit conducted in September 2020 (see November 24th, 2020 press release). Much of the property is covered by unconsolidated sediment and Nipigon diabase, limiting the exposure of the targeted Archean host rocks. Channel sampling within the historic Fat Beagle trench returned very high-grade zones of gold mineralization, with assays of up to 146.5 g/t Au over 0.41 m, and 24.4 g/t Au over 0.61 m (Figure 2, Table 1). The best result from the 82 grab samples collected outside of the showing area returned was 1.35% Zn from an outcrop of sulphide facies iron formation (Figure 3). CEO Scott McLean commented, \"The results of the sampling in the historic trench and identification of prospective sulphide facies iron formation supports the interpretation that our claims cover the western extension of the prolific Geraldton-Beardmore gold belt and have the potential to host significant gold minerali...

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