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Transition Metals Corp.
Summary
| Project: | Saturday Night | |
|---|---|---|
| Deposit: | Saturday Night | |
| Location: | Canada | |
| Commodities: | Platinum-Palladium-Gold-Copper-Nickel-Sulphur | |
| Date: | 1/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-1-2017: Transition Metals Corp. announces an Exploration/Drilling Update report for its Saturday Night deposit at the Saturday Night project. Drilling results incl. 6.25m @ 0.1g/t Au, 0.60g/t Pt, 0.37g/t Pd, 0.18% Cu, 0.08% Ni from 507m. Transition Met | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Flanks (Internal) | |
| ABSTRACT: | Transition Metals Corp. (XTM – TSX.V) (“Transition”, “the Company”), is pleased to announce the discovery of a new platinum group metals (Pt+Pd+Au or PGM’s) enriched intrusion within the emerging Midcontinent Rift Ni-Cu-PGM camp at the Company’s 100% owned Saturday Night Property, located 25 kilometres north of Thunder Bay, Ontario. The Saturday Night Intrusion (SNI) was discovered by a single, 601 metre drill hole (SN-16-001), drilled by the Company that tested an 800 metre diameter magnetic target with similar characteristics to the Company’s award winning Sunday Lake platinum discovery located 16 kilometres to the east. Assays from core samples returned 6.25 metres averaging 1.07g/t PGM’s including a higher grade section of 4.0 g/t PGM and 0.56% Cu over a core length of 0.30 metres near the interpreted base of a >200 metre thick sequence of early-rift intrusive rocks. Commenting on the discovery, CEO Scott McLean stated “We are extremely pleased to have made another exciting PGM discovery so close to Sunday Lake. The similarities are striking when compared to other nearby well mineralized early-rift intrusions such as the Sunday Lake and Thunder Bay North Intrusions. We consider the results to be very encouraging and confirms the success of our aggressive approach including limited diamond drilling within the Project Generator Exploration model. We look forward to attracting a partner to help aggressively advance the new discovery.” | |
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