Transition Metals Corp Announces Drill Results From its Sunday Lake PGM Project Including
Transition Metals Corp Announces Drill Results From its Sunday Lake PGM Project Including
35.80m @ 3.90 g/t PGM
Sudbury, March 27, 2018 – Transition Metals Corp (XTM – TSX.V) (“Transition”, “the Company”) is pleased to
announce it has received the first set of assay results from the ongoing drill program conducted by North
American Palladium (NAP), on the Sunday Lake platinum- palladium (PGM) Project. NAP holds an option to
earn up to a 75% interest in the Property and XTM holds a 25% free carried interest through to the completion
of a Feasibility Study.
Results are sourced from an NAP news release dated March 27, 2018. Please refer to that release for the full
information regarding the drill program, including lo cation maps, cross sections and drill hole details.
http://www.nap.com/investors/news-releases/news-releases-details/2018/North-American-Palladium-Expands-
PGM-Mineralization-at-Sunday-Lake/default.aspx
Highlights:
Hole SL-17-18B : 18.65m @ 4.05 g/t PGM (Pt+Pd+Au) including 4.9m @ 6.10 g/t PGM and 0.64% Cu
Hole SL-18-21: 35.80m @ 3.90 g/t PGM including 6.50m @ 8.34 g/t PGM
Hole SL-18-22: 33.20m @ 2.80 g/t PGM including 5.90m @ 6.80 g/t PGM and 0.67% Cu.
Commenting on the results, Company CEO and President Scott McLean stated “These results demonstrate the
potential of the Sunday Lake Intrusion to host signifi cant economic mineralization and the grades encountered
are higher than other similar deposits and mines in the district. The geology at Sunday Lake bears many
similarities to the Company’s 100% owned Saturday Night project located in similar geology 16km to the west
that we feel may have similar potential.”
The property occurs within the emerging Mid-Continental Rift (MCR) PGM camp. Recent discoveries in the
district include Panoramic Resources’, Thunder Bay North Project (Indicated Resources 8.46Mt @ 2.09g/t PGM1) in Ontario,
Lundin Mining’s, Eagle Mine (Reserves 3.72Mt @ 2.50% Ni, 2.20% Cu 2) in Michigan and Rio Tinto’s Tamarack Deposit
(Indicated Resource 3.75Mt @ 1.81% Ni, 1.00% Cu, 0.85g/t PGM; Inferred Resource 3.38Mt @ 1.63% Ni, 0.94% Cu, 0.67g/t PGM3) in Minnesota.
The Sunday Lake PGM property is held by Joint Ventur e Partners Transition Metals and Impala Platinum
Holdings Limited (“Implats”). NAP holds the right to acquire Implats’ interest up to a 75% ownership in the Sunday
Lake Project by completing work commitments totaling $4.5M and making cash payments of $3.5M over a five-
year period. (see NAP Press Release dated June 20, 2017 for details). Without any further expenses, Transition
retains a 25% free carried interest in the project through to the completion of a feasibility study.
Exploration Program
Diamond Drilling
For the period spanning October 2017 to March 2018, NAP has completed a total of 8,500m in ten holes to date
and continues to drill the property with two rigs on site. Results from these first eight holes completed are
presented in Table 1.
Table 1: Assay results for the October 2017 to March 2018 Sunday Lake exploration drilling program.
Hole # From (m) To (m) Length (m) PGM g/t Pt g/t Pd g/t Au g/t Cu wt.% Ni wt.%
SL-17-15 731.00 736.00 5.00 1.14 0.61 0.49 0.04 0.21 0.12
and 807.15 812.00 4.85 1.20 0.71 0.42 0.07 0.16 0.08
SL-17-16 807.00 828.50 21.50 1.82 1.00 0.74 0.08 0.34 0.16
including 812.50 818.50 6.00 3.17 1.82 1.25 0.10 0.43 0.17
including 816.50 818.50 2.00 2.91 1.52 1.25 0.14 0.68 0.25
SL-17-17 626.00 629.00 3.00 1.09 0.57 0.47 0.04 0.19 0.10
and 634.00 639.30 5.30 1.31 0.78 0.49 0.05 0.16 0.08
SL-17-18B 667.70 703.15 35.45 2.83 1.65 1.09 0.09 0.41 0.16
including 684.50 703.15 18.65 4.05 2.43 1.49 0.13 0.48 0.17
including 692.25 697.15 4.90 6.17 3.89 2.07 0.20 0.64 0.24
and 701.15 702.15 1.00 9.27 6.13 2.82 0.32 0.92 0.07
SL-18-19 856.00 867.90 11.90 1.37 0.72 0.61 0.05 0.20 0.12
including 860.00 865.00 5.00 2.29 1.15 1.05 0.08 0.35 0.16
SL-18-20 710.00 715.10 5.10 1.52 0.89 0.55 0.07 0.22 0.11
SL-18-21 863.50 899.35 35.85 3.90 2.40 1.32 0.18 0.43 0.17
including 875.05 898.35 23.30 5.43 3.34 1.83 0.26 0.60 0.21
including 890.85 897.35 6.50 8.34 5.17 2.62 0.55 1.08 0.36
including 892.55 893.80 1.25 11.97 7.45 3.78 0.74 1.37 0.38
SL-18-22 1039.0 1072.2 33.20 2.85 1.68 1.03 0.13 0.34 0.12
including 1056.0 1066.9 10.90 4.98 3.08 1.65 0.25 0.51 0.14
including 1061.0 1066.9 5.90 6.87 4.30 2.22 0.35 0.67 0.16
including 1065.0 1066.0 1.00 17.50 11.23 5.32 0.95 1.48 0.27
Note: Reported interval length are estimated as being between 80% and 90% of true width of the intersected sulphide mineralization.
About the Sunday Lake Property
The Sunday Lake PGM Project is located 25 km north of Thunder Bay in Jacques Township and approximately
95 km south of NAP’s producing Lac Des Iles Mine. The Sunday Lake Property covers a 3.5 km diameter circular
reversely-polarized magnetic anomaly associated with a large buried mafic-ultramafic intrusion interpreted to be
Proterozoic in age and related to the Mid-Continental Rift (MCR).
The Company’s 100% owned Saturday Night Project is located 16 kilometres to the west of Sunday Lake and
host mineralization and geology similar to Sunday Lake. The Company is currently seeking a partner for
Saturday Night.
¹ Resource reported by Panoramic Resources, Thunder Bay North deposit: 2011 JORC compliant mineral resources estimate prepared by AMEC Americas
Ltd.
² Lundin Mining – Reserves and Resources June 30, 2016. http://www.lundinmining.com/s/Reserves.asp
3 Resource reported by Talon Resources, Tamarack North Techni cal Report: 2014 NI 43-101mineral resource estimate prepared by Gol der Associates
Ltd. www.sedar.com
Qualified Person
The technical elements of this press release have been approved by Mr. Grant Mourre, P.Geo. (APGO), a
Qualified Person under National Instrument 43-101. The analyses reported in this news release were performed
by ALS Global in Vancouver, British Columbia. NAP’ s rigorous internal quality control and quality assurance
protocols are described in detail in NAP’s current Technical Report for its Lac des Iles mine (June 2017 –
available on SEDAR).
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 disc overies. 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 multip le 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 primar ily in Ontario, Nunavut, British Columbia, Minnesota
and Saskatchewan.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herei n, 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.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777