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Transition Reports High Grade Channel Sample Results at the Maude Lake Nickel Property, Ontario, Including 4.0 Metres Grading 2.09 % Ni and 0.64 % Cu
Sudbury, Ontario--(Newsfile Corp. - October 15, 2019) - Transition Metals Corp. (TSXV: XTM) ("...
About this update from Transition Metals Corp.
[{"type":"text","content":"\nTransition Reports High Grade Channel Sample Results at the Maude Lake Nickel Property, Ontario, Including 4.0 Metres Grading 2.09 % Ni and 0.64 % CuSudbury, Ontario--(Newsfile Corp. - October 15, 2019) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"the Company\") is pleased to announce high grade channel sample assay results at its 100% owned Maude Lake Ni-Cu-Co-PGM property located near Schreiber, Ontario (Figure 1). The property covers a known high grade magmatic Ni-Cu-Co-PGM showing where historic grab samples collected by Novawest Resources Inc. in 2002 returned values of up to 6.23 % Ni and up to 2.48 % Cu1.The results presented in this release were collected as part of a due diligence evaluation of the property following signing of the option agreement in January 2019 (see XTM Press Release dated January 22, 2019). By completing this work, Transition has now vested a 100% interest in the property.Table 1 lists complete sample results and weighted average grades where appropriate. Locations of the samples and geology of the showing area are shown in Figure 2.HighlightsNew channel sampling results from the main sulphide showing have returned high grades of nickel and copper over encouraging widths as follows: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 metres1.15 % Ni, 0.93% Cu and 0.49 g/t PGM over 2.0 metresHigh grade individual samples of up to 5.22 % Ni, 0.36 % Cu over 0.50 metres are consistent with the high grade values reported by Novawest Resources in 20021.Assays of greater than 1 % combined Ni+Cu were returned intermittently over a strike length of 75 metres.CEO Scott McLean commented, \"The high grade nature and continuity of the mineralization at surface makes this an attractive prospect. Furthermore, it appears that past exploration may not have tested the property effectively. A systematic exploration program utilizing modern geophysics is planned to further evaluate the property potential and outline targets for drilling.\"About The Maude Lake PropertyThe property is located approximately 10 kilometres north of the community of Schreiber, Ontario. It consists of staked mining claims on crown land that cover approximately 1,398 hectares in the Pays Plat Lake, Lower Aguasabon Lake and Priske Township areas. Located in the southern lim...