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Transition Resumes Drilling on its Sunday Lake PGM Discovery and Stakes Large Ni-Cu-PGM bearing Intrusion in Kitto Township
SUDBURY, ON , Nov. 17, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V)  ("...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\nSUDBURY, ON, Nov. 17, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V)  (\"Transition\", \"the Company\"), is pleased to announce that it has resumed drilling on its Sunday Lake discovery located 25 kilometres north of Thunder Bay, Ontario. The Sunday Lake discovery was announced on January 27, 2014 with additional results reported on June 4th and August 7th, 2014. In addition, the Company announces that it has staked a 100% interest in approximately 2,512 hectares covering the nickel, copper and platinum group metals (Ni-Cu-PGM) bearing Kitto intrusion. The Kitto intrusion is located approximately 10 kilometres west of the town of Beardmore, Ontario and has a number of similarities to the intrusion that hosts the company's Sunday Lake discovery. The Sunday Lake project is a joint venture between Transition and Impala Platinum Holdings Limited (Implats) of South Africa. Funding for the Sunday Lake project is solely provided by Implats until the completion of a feasibility study.\n\nCommenting on the exploration program, company President and CEO Scott McLean stated \"We are pleased to be drilling again at Sunday Lake to further evaluate the quality and extent of the exceptional PGM mineralization outlined to date. Our developing knowledge of the geology and controls on mineralization at Sunday Lake has led us to identify the Kitto intrusion as a similarly prospective and PGM fertile target. Like Sunday Lake, Kitto has only seen a cursory amount of exploration to date. We look forward to advancing both projects and developing new partnerships around the Kitto opportunity in the coming months.\" \n\nAbout the Kitto Intrusion\n\nThe Kitto intrusion is a Mesoproterozoic (1117.7 ±1.8 million year old)¹ mafic to ultramafic intrusion associated with the Midcontinent Rift (MCR). It is geochemically and temporally related to the earliest MCR magmatism, referred to as 'early-rift' type intrusions. 'Early-rift' intrusions are known to host ore grade Ni-Cu-PGM group mineralization at many locations including; Lundin's Eagle Mine (5.33 Mt @ 3.1% Ni, 2.5% Cu, 1.32 g/t PGM³), Rio Tinto's – Talon Metals, Tamarack deposit (3.8 Mt @ 1.81% Ni, 1.0% Cu, 0.67 g/t PGM (Indicated) + 3.2 Mt @ 1.22% Ni, 0.82% Cu, 0.58 g/t PGM (Inferred)5), Panoramic Resources Thunder Bay North deposit (9.8...