Drilling at Janice Lake in Saskatchewan’s Wollaston Copperbelt Commences
Drilling at Janice Lake in Saskatchewan’s Wollaston Copperbelt Commences
Sudbury, August 14, 2018 – Transition Metals Corp (XTM – TSX.V) (“Transition ”, “the Company”) is pleased
to report Forum Energy Metals Corp (TSXV: FMC, “For um”) has prioritized exploration and commenced a
diamond drill program at the Janice Lake Sedimentar y Copper Project. Forum can earn a 100% interest un der
option from Transition (see press releases dated February 6 th and 15 th , 2018)
Commenting on the news, Company CEO and President S cott McLean stated “Janice Lake is an exciting
project particularly since the age and depositional environment at Janice Lake are directly analogous to the
giant Udokan Deposits of the Lake Baikal region of Siberia. The property was optioned to Forum just ea rlier
this year and so we’re very pleased with the work t he team has already undertaken and look forward to
hearing the results of the drilling campaign.”
A diamond drill program totaling ~600 metres in 4 d rill holes will target the JS-2 area of historical drilling
completed by Phelps Dodge to confirm and extend the known strike of the copper mineralization. Some
intercepts from 2003 Phelps Dodge drill program are:
DRILLHOLE DRILL INTERCEPT HIGH GRADE
INTERVAL
DEPTH
Phelps
Dodge
JL-03-38 20.8 metres @ 0.72% Cu incl. 1.3% Cu and
5.5g/t Ag over 5.8m
41 metres
Phelps
Dodge
JL-03-41 19.0 metres @ 0.49% Cu Incl. 0.91% Cu and 3.2
g/t Ag over 6.0m
42 metres
Also planned for this summer are prospecting, mappi ng and sampling of outcrops along lesser explored
portions of the known 30 km long copper mineralized trend in areas exposed by recent forest fires. A portable
XRF machine will be used to help identify the predo minantly chalcocite mineralized trend in the field which has
traditionally been hard to distinguish visually.
Janice Lake Exploration History
Janice Lake, which comprises 18 mining claims totaling 19,289 hectares is located in an area described by the
Saskatchewan Geological Survey as “the most signifi cant concentration of sediment-hosted copper showin gs
yet known in the Wollaston Domain.”1
In 1993, 20 of 35 holes totaling 5,500m drilled by Noranda intersected near surface chalcocite copper
mineralization. In 2003, Phelps Dodge reprocessed t he magnetic and induced polarization (IP) geophysic al
data and completed 6 diamond drill holes to target mineralization under cover. By targeting modelled
IP/Resistivity anomalies, Phelps Dodge discovered new copper mineralization with two drill holes 100m apart 2
kilometers to the south of the JS showing. Forum ha s spent the last few months reprocessing and
reinterpreting this historical data to better target zones of mineralization within open pit limits.
The Janice Lake copper occurrences are classed as s edimentary copper type similar to the Central Afric an
Copperbelt in Zambia and the DRC, the Revett Belt i n Montana and is closely comparable in age and
geological setting to the Udokan copper deposit in Russia. Udokan is one of the supergiants with a mea sured,
indicated and inferred resource of 2.754 billion tonnes grading 0.97% copper and 11.9 g/t silver for a contained
resource of 54 billion pounds of copper and 196 mil lion ounces of silver (Source: Baikal Mining Compan y,
JORC Compliant Reserve and Resource Summary published 2013).
Qualified Person
The technical elements of this press release have b een approved by Mr. Tom Hart, P.Geo. (APGO), a
Qualified Person under National Instrument 43-101.
1Geological Setting of Sediment-hosted Copper Minera lization in the Janice Lake Area, Wollaston Domain by
G. Delaney et al., 1995
About Transition Metals Corp
Transition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity project generator that specializes
in converting new exploration ideas into Canadian d iscoveries. The award-winning team of geoscientists has
extensive exploration experience in established, em erging and historic mining camps and actively devel ops
and tests new ideas for discovering mineralization in places that others have not looked, which often allows
the company to acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional
techniques with newer ones to help unearth compelli ng prospects and drill targets. Transition uses the project
generator business model to acquire and advance mul tiple exploration projects simultaneously, thereby
maximizing shareholder exposure to discovery and ca pital gain. Joint venture partners earn an interest in the
projects by funding a portion of higher-risk drilli ng and exploration, allowing Transition to conserve capital and
minimize shareholder’s equity dilution. The Company has an expanding portfolio that currently includes more
than 25 gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Mi nnesota
and Saskatchewan.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release consti tutes
“forward-looking information” within the meaning of Canadian securities law. Such forward-looking info rmation
may be identified by words such as “plans”, “propos es”, “estimates”, “intends”, “expects”, “believes”, “may”,
“will” and include without limitation, statements r egarding estimated capital and operating costs, exp ected
production timeline, benefits of updated developmen t plans, foreign exchange assumptions and regulator y
approvals. There can be no assurance that such statements will prove to be accurate; actual results and future
events could differ materially from such statements . Factors that could cause actual results to differ materially
include, among others, metal prices, competition, r isks inherent in the mining industry, and regulator y risks.
Most of these factors are outside the control of th e Company. Investors are cautioned not to put undue
reliance on forward-looking information. Except as otherwise required by applicable securities statute s or
regulation, the Company expressly disclaims any int ent or obligation to update publicly forward-lookin g
information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777