Business
Transition Vests 100% Interest in Key Gold Properties in the Abitibi and Provides an Update on Activities
SUDBURY, ON , July 20, 2015 /CNW/ - Transition Metals Corp. (XTM – TSX.V)&...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\n\n\nSUDBURY, ON, July 20, 2015 /CNW/ - Transition Metals Corp. (XTM – TSX.V)  (\"Transition\", \"the Company\"), is pleased to announce that it has fulfilled terms under separate option agreements to acquire 100% interests in the Haultain, Jumping Moose and Golden Elk gold properties located near Kirkland Lake Ontario and to provide a general update concerning project activities and plans.\n\nCompany CEO and President, Scott McLean, P.Geo. commented: \"We have been able to generate and consolidate a sizeable portfolio of gold exploration projects in the southern Abitibi with a focus on exploring extensions of prolific structures such as the Cadillac Larder, Ridout and Pipestone Breaks. We feel we have generated some of the best new gold exploration opportunities to come out of the Abitibi in recent years and we are actively seeking partnerships with groups looking to gain exposure to high grade gold in one of the most prolific, stable, and low cost mining gold mining districts in Canada and the World.\"\n\nActivity Update\n\nThe Company has developed 5 primary district scale exploration opportunities which include; Abitibi Gold, Nunavut Gold and Diamonds (under a Strategic Alliance with Nunavut Resources Corporation), Saskatchewan Copper, Thunder Bay Ni-Cu-PGM's and Sudbury Ni-Cu-PGMs (see figure 1). Over the summer and into the fall of 2015, Transition investors have exposure to exploration results coming from three partner funded projects and internal Company project work.\n\nDrill results, from partner funded activities at Aer Kidd (partner – Sudbury Platinum Corporation) and Sunday Lake (Partner – Impala Platinum Holdings Limited) are anticipated through the late summer and fall of 2015 into the winter of 2016. Strategic Alliance Partner Nunavut Resources Corporation has approved funding to complete an airborne Mag-EM survey and to advance target generative activities this summer in Nunavut. Additionally, the Company is engaged in project generative work in the Thunder Bay and Abitibi areas in Ontario and has allocated funding to advance key projects with the objective to attract new partnership funding.  \n\nProject Updates\n\nAbitibi Gold - Ontario\n\nThe Company owns or holds under option, mining lands in the Abitibi Greenstone belt of Ontario totaling approximately 17,312 ha whic...