Transition Metals Completes ZTEM Survey and Initiates Field Program at Pike Warden, Yukon Preliminary helicopter airborne AFMAG and magnetics survey highlights large features which appear to be coincident with both collapse structures and known zones hosting
Transition Metals Completes ZTEM Survey and
Initiates Field Program at Pike Warden, Yukon
Preliminary helicopter airborne AFMAG and magnetics survey highlights large features
which appear to be coincident with both collapse structures and known zones hosting
copper mineralization at surface.
Field crews mobilized for detailed mapping program and to ground truth target areas in
preparation for drilling.
Sudbury, Ontario--(Newsfile Corp. - July 22, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition",
"the Company") reports that Geotech Ltd. has completed the approximate 650-line kilometre (km)
helicopter borne, Z-Axis Tipper Electromagnetic system (ZTEM™) survey flown over Pike Warden ("the
Property")(see news release dated
June 11, 2024
). Transition has engaged Condor North Consulting
ULC ("Condor"), recognized experts in the field of geophysical data processing and interpretation.
Condor's services have been retained to perform a detailed interpretation of the results and their final
report regarding the significance of the survey is pending. The audio-frequency magnetic (AFMAG) data
from this survey will be used to create 3-D subsurface resistivity as well as complimentary magnetic
inversion models to characterize the extent of and prioritize prospective targets on the Property.
In addition, the Company is pleased to announce that it has initiated a program of boots-on-the-ground
field work at Pike Warden. Work to date has highlighted four primary target areas the Company believes
hold potential to host economic polymetallic systems (Figure 1). The ERT Zone, highlighted in yellow,
hosts high sulphidation epithermal style gold/silver mineralization associated with an over two-kilometre-
long trend of elevated silver-in-soil and silver-in-rock geochemical anomalies. The three areas
highlighted in red, consisting of Copper North, Silver Train, and Olympus target zones, all show potential
to host copper porphyry systems. Within these target zones, recent trace element geochemical and
petrographic studies have highlighted the prospectivity for porphyry style copper-molybdenum
mineralization (see news release dated
May 29, 2024
).
The field program will include detailed geological mapping, particularly around the potential porphyry
target centres, with a focus on fracture density, vein styles, dike types, alteration abundance and
intensity. This will result in a more representative collection of altered, unaltered, and mineralized
samples for analysis to assist vectoring on a system scale into centres of mineralization.
Scott McLean, P.Geo., CEO of Transition Metals, commented,
"We continue to be encouraged by what
we are seeing at Pike Warden. It is hoped that work completed this summer will help confirm and
prioritize targets in preparation for a program of drilling this fall."
Figure 1: Pike Warden 2024 Target Areas Focus
To view an enhanced version of this graphic, please visit:
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About the Pike Warden Property
The Pike Warden property (Figure 1) is located in the traditional territory of Carcross/Tagish First Nation
and is situated on the northern rim of the Bennett Lake Caldera Complex, one of the largest extinct
volcanic centers in Canada.
The property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed
of 203 contiguous mining claims totaling approximately 41 km². The property encompasses a
combination of historic and recently discovered high-grade polymetallic gold, copper, and silver
epithermal showings that are indicative of a large epithermal-porphyry system in the vicinity of the
Bennett Lake Volcanic Complex. In June 2022, Transition entered into an option agreement to acquire a
100% interest in the property from the Vendor in exchange for cash, shares, and work expenditures over
a four-year period (see Company news release dated
June 28, 2022
).
Qualified Person
The technical elements of this press release have been approved by Mr. Benjamin Williams, P.Geo.
(PGO), who is a Qualified Person as defined under National Instrument 43-101.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its 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 to conserve capital and minimize
shareholder's equity dilution. Further information is available at
www.transitionmetalscorp.com
or by
contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the 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 regarding estimated capital and
operating costs, expected production timeline, benefits of updated development plans, foreign exchange
assumptions and regulatory 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, risks inherent in
the mining industry, and regulatory 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
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 release.
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