Transition and Aldershot Report Initial Assay Results from Drilling at Gowganda
Transition and Aldershot Report Initial Assay Results from Drilling at Gowganda
Sudbury, February 28, 2017 – Transition Metals Corp. (XTM – TSX.V) (“Transitio n”) and Aldershot Resources
Ltd. (“Aldershot” or the “Company”) (TSXV:ALZ Frank furt: ASL1.F US: ALZTF.PK), are pleased to report o n
initial assay results from drilling completed on th e Gowganda Gold project located 75 kilometres south west of
Kirkland Lake Ontario. The results are from the fir st two, of eleven completed holes for which additio nal assay
results remain pending. Holes TMH-17-022 and TMH-17 -023 were drilled to test for a down plunge
continuation of stockwork veining exposed at surfac e in the vicinity of the Annie’s Ladder showing. Bo th holes
intersected intervals of strong alteration and elevated gold which is summarized below in Table 1.
Table 1.
*Gold values are reported in grams per tonne.
** Length intervals are actual widths in metres and may not be representative of true thickness
President and CEO of Aldershot Minerals Jeremy Cadd y commented that “Aldershot is pleased with the initial
assay results from the first two holes of the progr am and we are looking forward additional results as they
become available over the coming weeks.”
President and CEO of Transition Metals, Scott McLea n commented; “We consider these results to be
encouraging as they further validate the potential of a mineralizing system with similarities to other known
economic deposits in the region in terms of style of mineralization, alteration and geologic setting.”
Collar location and orientation for completed holes is presented below in Table 2. Figure 1 presents a map
depicting the location of completed holes. Figure 2 presents a cross section depicting the location of holes
TMH-17-022 and TMH-17-023.
Hole From (m) To (m) Length (m) Au (g/t)
TMH-17-022 45.1 48.5 3.40 1.37
including 48.1 48.5 0.40 4.24
and 55.6 58.6 3.00 1.22
and 75.7 81.6 5.90 1.43
including 80.3 81.6 1.30 3.79
TMH-17-023 110.4 119.5 9.10 1.24
including 114.6 117 2.40 3.04
including 115.6 116.4 0.80 4.29
Table 2.
About the Gowganda Gold Project:
The project is focused on Archean greenstone overla in by Proterozoic sediments of the Cobalt Embayment
located south of the Round-Lake Batholith in the so uth-western part of the prolific Abitibi greenstone belt. A
short animated video that introduced Aldershot and the Haultain project may be viewed at:
http://iresourcemedia.com/companies/aldershot/. Gold mineralization on the property is in part cont rolled by
the emplacement of syenitic intrusions that are loc ally altered and mineralized. High grade, nugget l ike gold
mineralization occurs within quartz veining within the altered syenite.
To earn a 51% interest in the Property, Aldershot has committed to funding $400,000 worth of exploration on
property in year one and must incur cumulative work expenditures totaling $2.0 million by the third anniversary
of the agreement. In addition, Aldershot must issue 1,500,000 common shares to Transition on signing
(received), and provide an additional $450,000 worth of Aldershot shares to Transition by the second
anniversary date, subject to exchange approvals to earn its initial interest. During the course of the initial stage
of the Option, Transition has agreed to serve as program Operator, dedicating its team and expertise to
overseeing work programs funded by Aldershot. Upon earning an initial 51% interest, Aldershot may opt to
acquire an additional 24% interest in the Property (for a total of 75%) by completing a feasibility study within 3
years. Upon Aldershot earning its 51% or 75% interest in the Property as the case may be, a Joint Venture
would be formed, with each party being required to fund work programs on the property to maintain its
respective interest.
Qualified Person
The technical elements of this press release have been approved by Mr. Greg Collins, P.Geo., a Qualified
Person under National Instrument 43-101. All core samples were half sawn at a controlled location by
Company representatives under the supervision of Mr. Steve Flank, P.Geo, and transported directly by the
company to the lab. Transition Metals employs in-house QA/QC procedures that conform to industry best
practices. All analytical work performed on core samples was conducted at ALS-Chemex with sample
preparation completed in Sudbury, Ontario and analyses completed in North Vancouver, B.C. The quality
system used by ALS-Chemex complies with international standards ISO 9001:2000 and ISO 17025:2005.
DDH Easting (m) Northing (m) Length (m) Az (deg) Dip (de g)
TMH-17-022 517590 5279800 93.4 240 -45
TMH-17-023 517645 5279830 198.0 240 -45
TMH-17-024 517213 5280028 86.0 220 -45
TMH-17-025 517213 5280028 98.0 220 -60
TMH-17-026 517256 5279802 111.0 230 -45
TMH-17-027 517256 5279802 92.0 230 -60
TMH-17-028 516901 5279815 54.0 235 -50
TMH-17-028a 516901 5279815 183.0 180 -55
TMH-17-029 517425 5279875 123.0 235 -50
TMH17-030 517556 5279773 172.0 25 -57
TMH17-031 517340 5279860 207.0 230 -60
11 Holes 1417.4 metres
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 discoveries. The award-winning team of geoscientists has
extensive exploration experience in established, emerging and historic mining camps and actively develops
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 compelling prospects and drill targets. Transition uses the project
generator business model to acquire and advance multiple exploration projects simultaneously, thereby
maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest in the
projects by funding a portion of higher-risk drilling 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, Minnesota
and Saskatchewan.
About Aldershot
Aldershot is engaged in the acquisition and exploration of gold properties. The Company relinquished its
uranium properties in Utah in 2015 due to the low uranium price. The Company has signed an option and joint
venture agreement with Transition Metals for the Gowganda Gold Project as highlighted above. The mission of
Aldershot is to find and develop a gold property to create wealth for shareholders. This is being achieved by
identifying quality gold properties and exploring those that have the highest potential for future discoveries,
sale or development of existing mineral resources into mineable reserves. On a regular basis management will
rationalize all of its core mineral property holdings to maintain percentage ownership by funding the exploration
work. Management will sell its properties when it feels value for shareholders has been created and
management is able to obtain fair value for the assets.
The Company is a publicly listed corporation whose shares are traded on the Venture Exchange of the Toronto
Stock Exchange under the symbol ALZ. The Company’s registered office is located at 409 – 221 West
Esplanade, North Vancouver, BC, V7M 3J3 and its head office is located at 303 – 1006 Beach Avenue,
Vancouver, BC V6E 1T7.
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 the Company. Investors are cautioned not to put undue reliance
on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the
Company expressly disclaims any intent or obligatio n to update publicly forward-looking information, w hether
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) 669-0590
Figure 1. Drill hole Location Sketch and Geological Interpretation – Haultain Discovery Area,
Gowganda Gold Project, Ontario
Figure 2. Section A-A’ Looking Northwest