Transition Metals Further Defines Cu-Au Porphyry Targets at Pike Warden, Yukon ZTEM™ survey highlights prominent conductivity feature under cover within area dubbed Copper Junction Fieldwork highlights prospective porphyry target at Copper Junction, coincident with
Transition Metals Further Defines Cu-Au
Porphyry Targets at Pike Warden, Yukon
ZTEM™ survey highlights prominent conductivity feature under cover within area
dubbed Copper Junction
Fieldwork highlights prospective porphyry target at Copper Junction, coincident with
prospective alteration and copper mineralization
Four new polymetallic showings discovered, with samples returning assay values up to
1.04 g/t Au, 3.63% Cu, 1.37% Mo, 2.6% Zn, and 0.12% W
Sudbury, Ontario--(Newsfile Corp. - August 22, 2024) - Transition Metals Corp. (TSXV: XTM)
("Transition" or "the Company") is pleased to provide an update on exploration work completed at its
Pike Warden project ("the Property") located near Whitehorse, Yukon. This summer, the Company's
exploration team focused on areas of the property considered prospective for hosting porphyry Cu-Au
mineralization, including Copper North, Copper Junction, and Olympus (Figure 1). The work involved
collecting samples and data to better characterize the geology, structure, alteration, fracture and vein
density, and vein types in these areas, as well as sampling any prospective-looking mineralization.
Final data from the Z-Axis Tipper Electromagnetic system (ZTEM™) survey, flown by Geotech Ltd. over
Pike Warden (see news release dated
June 22, 2024
), has been received. Notably, the Company's
preliminary interpretation of the ZTEM™ data highlights a large conductivity anomaly located centrally
within one of the more prominent areas of prospective alteration and elevated copper mineralization,
Copper Junction.
Scott McLean, P.Geo., CEO of Transition Metals, commented,
"We are encouraged that our work
continues to highlight some compelling untested Cu-Au porphyry targets. Our geological team is
actively collaborating with our geophysical consultants to prioritize key targets on the property in
preparation for drilling."
Figure 1:
Pike Warden project map, with prominent structural trends, discovered polymetallic
showings, and recent highlight samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/220787_eb389c1644b0da0e_002full.jpg
Sampling Results
In total, 79 samples were submitted for analysis, returning values of up to 1.04 g/t Au, 3.63% Cu, 1.37%
Mo, 2.61% Zn, and 0.12% W from regions of outcropping and scree mineralization. This work has
confirmed four new mineralized showings, named Steam, Whistle, Contrition, and Daedalus (Figure 1).
With the addition of these new zones, the total number of mineralized showings on the property now
stands at twenty-nine.
During the sampling conducted this summer, 92% of the collected samples were found to contain
elevated levels of pathfinder elements, which are used to vector towards centers of mineralization.
Notably, 47% of these samples exhibited anomalous concentrations of key metals, including copper,
gold, silver, molybdenum, zinc, lead, and tungsten. These elevated and anomalous values contribute to
the company's growing database, providing valuable insights for ongoing exploration. Select highlighted
values are presented above to showcase the potential of the area. However, the reader is cautioned that
only select highlight values are reported, that rock samples (bedrock and scree) are selective by nature,
and that values reported may not represent mineralization of the entire project area.
Transition Metals adheres to rigorous sampling and analytical protocols that meet or exceed industry
standards. Samples are securely stored until they are transported in batches to the ALS Geochemistry
facility in Whitehorse, Yukon. Each sample batch includes certified reference materials, blanks, and
duplicates, all processed under the control of ALS. The samples were analyzed in Vancouver by ALS
Chemex, with ALS Laboratories' quality system meeting the requirements of International Standards
ISO/IEC 17025:2005 and ISO 9001:2015. The analysis was conducted using the ME-MS61 method,
which reports 48 elements through four-acid digestion followed by ICP-MS. Gold was analyzed using the
AU-ICP21 method, involving fire assay fusion with an ICP-AES finish. In cases of over-limit results, gold
was determined by fire assay with a gravimetric finish, and base metals were analyzed using ore-grade
(OG62) four-acid digestion with an ICP-AES finish.
Copper Junction
This summer's work highlights the potential of the Copper Junction area to host a large-scale copper
porphyry system. In this region, the Company's preliminary interpretation of the recently completed
ZTEM™ survey identifies a prominent east-west magnetic low trend that crosscuts a northeast-
southwest trend of elevated conductivity. This feature, one of several identified on the Property, is
centrally located within the expanded alteration and copper mineralization footprint in the Copper
Junction area (Figure 2). Condor North Consulting ULC ("Condor") is currently further processing and
refining the ZTEM™ geophysical data.
The conductivity feature identified at Copper Junction occurs at the intersection of two significant
structural trends. The first trend is associated with an east-west striking concentric feature, interpreted as
a collapse structure related to the Bennett Lake caldera complex. The second trend follows a cluster of
northeast-trending features which host the majority of the copper and molybdenum mineralization, as well
as the epithermal-style base and precious metal occurrences identified to date on the property. These
northeast-trending structures appear to also control increased fracture and vein density, enhanced
potassic alteration, and sites of copper mineralization peripheral to the defined ZTEM™ conductivity
feature located under cover within the Copper Junction region.
Figure 2:
A photograph of the Copper Junction area looking west-southwest, illustrating the location of
copper mineralization, including the new Whistle and Steam showings, in relation to the east-west
structure and the ZTEM™ conductivity feature.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/220787_eb389c1644b0da0e_003full.jpg
Next Steps
The Company plans to use the recently collected geological information, along with the geophysical
interpretations and 3D inversion models, to assist in refining areas prospective for hosting porphyry-style
copper-gold mineralization on the Property. The exploration team will continue to evaluate and prioritize
this data in preparation for drill testing.
The recent field program included detailed geological mapping, particularly around potential porphyry
target centers, with a focus on fracture density, vein styles, dike types, alteration abundance, alteration
intensity, and mineralization associations. These activities have generated a significant amount of new
data, which will be used to refine the Company's geological model of the Property. This includes
analyzing altered, unaltered, and mineralized samples in geological studies to investigate the geological
environment, pressure-temperature fluid evolution, and the broader mineralizing system preserved on the
Property
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 news release have been approved by Mr. Benjamin Williams, P.Geo.
(PGO), Senior Geologist of Transition Metals Corp. and a Qualified Person 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/220787