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Transition Metals Corp.
Summary
| Project: | Sunday Lake | |
|---|---|---|
| Deposit: | Sunday Lake | |
| Location: | Canada | |
| Commodities: | Nickel-Copper-PGM-Gold | |
| Date: | 4/29/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-4-2019: Transition Metals Corp. announces an Exploration/Drilling Update report for its Sunday Lake deposit at the Sunday Lake project. JV - drill results incl. 41.20m @ 3.22g/t Pt, 2.08g/t Pd, 0.21g/t Au, 0.57% Cu, 0.19% Ni from 1392.00m. Sudbury, Ont | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Grant Mourre (Not stated) | |
| ABSTRACT: | Sudbury, Ontario--(Newsfile Corp. - April 29, 2019) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to announce it has received assay results from the previously disclosed drill program (see XTM press release dated February 12, 2019) conducted by North American Palladium Ltd. (NAP), on the Sunday Lake Platinum-Palladium Project located 25 km north of Thunder Bay, Ontario. NAP holds an option to earn up to a 75% interest in the property from Impala Platinum Holdings Limited (Implats) and XTM holds a 25% free carried interest through to the completion of a Feasibility Study. Results are sourced from a NAP news release dated April 29, 2019. Please refer to that release for the full information regarding the drill program. Commenting on the results, Company CEO and President Scott McLean, P.Geo. stated: "We've had tremendous exploration success at Sunday Lake since drilling the discovery hole in 2013. These recent drill results provided by Option Partner NAP, are the best reported to date, and comparable in overall grade to what is currently being mined by NAP at its nearby Lac Des Illes mine and mill complex. Mr. McLean continued: "This successful drilling is an excellent example of the upside of the project generator business model employed by Transition. The Company discovered the PGM-Ni-Cu mineralization through a strategic alliance partnership with Implats. The Company nowowns a 25%free carried interest in the current joint venture through to the completion of a Feasibility Study without any funding risk. We commend NAP for the breakthrough they have made in their exploration targeting strategies. We think that the same approach can be applied effectively to explore the Company's 100% owned Saturday Night Project, located in a similar geological environment 16 km to the west." | |
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