Transition Metals and Aurum Lake Mining Provide Update on Homathko Gold Project
Transition Metals and Aurum Lake Mining
Provide Update on Homathko Gold Project
Toronto, Ontario--(Newsfile Corp. - March 17, 2025) - Transition Metals Corp (TSXV: XTM) ("Transition
Metals") and Aurum Lake Mining Corporation (TSXV: ARL) ("Aurum") are pleased to provide an update
on the Homathko Gold Project in British Columbia (the "Project"). Pursuant to the option agreement
dated December 19, 2022, between Transition Metals and Aurum (the "Option Agreement"), Transition
Metals has granted Aurum the option to acquire 100% interest in the mineral claims comprising the
Project. Aurum has subsequently completed successive work programs confirming known gold
mineralization potential and identifying new exploration targets.
Scott McLean, P.Geo., Chief Executive Officer of Transition Metals, commented:
"We are encouraged
by the work completed by our partner, Aurum. Their efforts have validated the high-grade gold
potential of the Discovery Creek area and, as a bonus, have identified two new target areas-Morris
South and East Copper."
Patrick Sapphire, Chief Executive Officer of Aurum, commented:
"We are pleased with the exploration
results which have provided insights into the Project's potential. These findings represent an important
step in the Project's continued advancement."
New Exploration Targets Identified
Morris South Target
The Morris South target is located directly south of a historically significant high-grade gold (Au) and
silver (Ag) occurrence, which also contains high concentrations of stibnite, a primary ore mineral of
antimony (Sb). Historical sampling at the Morris Mine returned a 1.1-metre chip sample grading 15.2 g/t
Au, 383 g/t Ag, and 13.55% Sb
1
. The Morris Mine occurrence is situated on a small block of third-party
claims surrounded by Transition Metals-held ground. For additional clarity, results from sampling
reported on the adjacent ground do not apply to the current property nor are tied to work associated with
this disclosure. Recent work by Transition Metals, under contract to Aurum, has highlighted the potential
for widespread high-sulfidation epithermal mineralization in the surrounding area. Strong soil anomalies
for Au, Sb, As, and Cu suggest additional mineralized sources upslope of the soil samples in the
broader area surrounding the historical showings.
Soil sampling is an indirect method of exploration, and
the results should not be considered definitive for the presence of economic mineralization without
further confirmatory testing and geological interpretation.
East Copper Target
The East Copper target, approximately 3 km east of the Morris South area, features newly discovered
bedrock exposures of porphyritic intrusions hosting fracture-controlled malachite and disseminated
copper mineralization. The highest copper value from grab sampling collected during the recent program
was 1.25% Cu, while a separate sample returned 1.64 g/t Au
2
. Grab samples, by their nature are
selective samples and may not necessarily represent the true occurrence of underlying mineralization.
Soil sampling in the area has revealed elevated concentrations of multiple pathfinder elements, including
As, Ag, Sb, and Au, suggesting potential for polymetallic mineralization
2
. Adjacent purple-colored
pebble conglomerates exhibit intense epidote, hematite, and magnetite alteration near hornblende-
bearing porphyritic dykes, further supporting the area's exploration potential.
Geological Significance and Next Steps
Sampling in both the Morris South and East Copper areas has identified indicators consistent with the
presence of a porphyry copper system
2
. Elevated copper associated with epidote-hematite-magnetite
alteration suggests proximity to favorable alteration and temperature conditions for porphyry copper
mineralization. Additionally, carbonate-sericite/clay-altered rocks with elevated Sb, Au, and Ag are
characteristic of high-sulfidation epithermal mineralization, potentially linked to a separate intrusion-
driven gold-silver-antimony system similar to that observed at the South Morris target area.
Recommended Next Steps:
1
.
Drill testing of the well-defined Discovery Zone gold target to evaluate the subsurface extent of
mineralization.
2
.
Expanded geochemical soil surveys, geological mapping, and geophysical surveys in the Morris
Mine/East Copper Discoveries area to refine drill targets.
Option Agreement Updates
To date, Aurum has paid Transition Metals $120,000 and incurred approximately $150,000 in
exploration expenditures in accordance with the terms of the Option Agreement.
Aurum has elected to
proceed with further exploration work on the Homathko Gold Project. To support the continued
exploration the parties have amended the Option Agreement as detailed in Aurum's news release dated
March 10, 2025.
Transition Metals and Aurum look forward to continued progress on the Homathko Gold Project and
remain optimistic about its potential to host significant mineralization.
About the Property
The property is located, approximately 50 km south of the community of Tatla Lake and 220 km west of
Williams Lake, BC and is comprised of 5 contiguous mineral claims, covering 9,788 hectares.
Geologically the Property lies near the contact of the eastern edge of the Coast Plutonic Suite and is
believed to be largely underlain by Jurassic-aged volcanic and intrusive rocks of the Stikine Terrane.
Mineralization on the Property was first identified by Falconbridge Limited in 1966 where prospecting in
the Discovery Creek area returned values
up to 384 grams gold
(Au) per tonne (g/t Au)
3
. Mineralization
in the Discovery Creek area is hosted in quartz-carbonate veins developed within and near the margins
of a shear bounded, altered quartz-feldspar porphyry sill that can be traced along with its associated
veining where exposed at surface for 1.5km along strike. Geologists from Transition Metals interpret that
the environment for mineralization in the Discovery Creek area appears consistent with that of a
mesothermal lode gold deposit which bears many similarities to similar deposits occurring elsewhere in
the Stikine belt including the Pioneer/Bralorne District and the Elk Gold Mine.
¹ Source: Firestone Ventures -
https://firestoneventures.com/i/pdf/2005-01_Morris.pdf
² Source: Assessment Report of Technical Work Completed on the Homathko Property, Feb 21, 2025, BC Department of Mines
³ Source: BC Mines Property File, Falconbridge File 184 - Report on Homathko Gold Prospect, 1965, J/J. MacDougall
Qualified Person
The technical elements of this news release have been reviewed and approved by Mr. Benjamin
Williams, P.Geo. (PGO), Senior Geologist of Transition Metals and a Qualified Person as defined under
National Instrument 43-101.
About Aurum Lake Mining Corporation.
Aurum Lake Mining Corp. (TSXV: ARL) is a Tier 2 mining issuer pursuant to the policies of the TSXV.
The company's current principal business is the development and exploration of the Homathko Property,
located in the Cariboo Region of British Columbia, approximately 57km south of the community of Tatla
Lake which lies 222km west of Williams Lake. The company expects that it will continue to evaluate and
acquire additional resource projects in other jurisdictions with low to moderate local political risk.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer that specializes in
converting new exploration ideas into discoveries. The award-winning team of geoscientists has
extensive exploration experience which actively develops and tests new ideas for discovering
mineralization in places that others have not looked, often allowing the company to acquire properties
inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk
drilling and exploration, allowing Transition Metals to conserve capital and minimize shareholder's equity
dilution.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, certain information in this news release
constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-
looking information may be identified by words such as "plans", "proposes", "estimates", "intends",
"expects", "believes", "may", "will" and include without limitation, statements based on current
expectations involving a number of risk and uncertainties. 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, risks inherent in the mining industry, and regulatory risks. Most of these factors are
outside the control of the Transition Metals and Aurum. Investors are cautioned not to put undue reliance
on forward-looking information. Except as otherwise required by applicable securities statutes or
regulation, Transition Metals and Aurum expressly disclaims any intent or obligation to update publicly
forward-looking 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 news release.
For further information regarding this news release, please contact:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Patrick Sapphire
Chief Executive Officer
Aurum Lake Mining Corporation
Telephone: 647-530-1117
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/244802