Transition Metals Initiates Diamond Drilling at Its Aylmer Cu-Au Project, Sudbury Area, Ontario Three targets within a large, mineralized breccia system that covers an area of 1000 by 400 metres to be drill-tested Prospective intrusive breccia may extend as much as 1 kilometre in depth based on an A
Transition Metals Initiates Diamond Drilling at
Its Aylmer Cu-Au Project, Sudbury Area,
Ontario
Three targets within a large, mineralized breccia system that covers an area of 1000 by 400
metres to be drill-tested
Prospective intrusive breccia may extend as much as 1 kilometre in depth based on an AMT
response.
Sudbury, Ontario--(Newsfile Corp. - August 17, 2022) - Transition Metals Corp (TSXV: XTM)
("Transition", "XTM") is pleased to announce that drilling has commenced at its Aylmer project
consisting of 119 mining claims covering 3,312 hectares north of Lake Wanapitei approximately 50
kilometers northeast of Sudbury, Ontario.
Work by the Company has outlined a large, highly altered and mineralized breccia system that covers an
area of approximately 1000 m by 400 m target system that extends to a vertical depth of at least 400
metres (Figure 1). Based on deep penetrating audio frequency magnetotelluric data (AMT), this intrusive
breccia appears to punch up through Huronian stratigraphy from more than 1 kilometer of depth below
surface (Figure 2). The breccia system occurs within a north-trending, regional structural zone interpreted
to be 14 to 15 kilometre wide. This structure has associated widespread regional sodic-altered rocks
and occurrences of gold-copper-bearing quartz veins grading up 5.93% Cu (See Company news
releases of November 2, 2020 and July 19, 2020).
Three initial targets as shown in Figures 1 and 2 have been delineated for a 1,250 metre diamond drill
program at Aylmer:
1)
Hilltop Breccia Exposure
This is an impressive breccia exposed on the hilltop that is characterized by subangular to
subrounded metasedimentary fragments hosted within a fine-grained matrix of iron-carbonate and
quartz. The breccia target will be tested by a fan of west-trending drill holes oblique to the contact but
perpendicular to the sediment stratigraphy in which the holes are collared.
2)
Copper Trench Breccia
The Copper Trench Breccia located approximately 200 metres to the south of the Hilltop Breccia, is
an albite-chlorite-replaced breccia with laminated metasedimentary fragments within a quartz-iron
carbonate-chalcopyrite-chlorite matrix. Drilling will be oblique to the north-south trend of the breccia
and extend northward to also test an area of pervasive and intense alteration located to the northeast.
3)
Deep Rooted Magnetotelluric (MT) Anomaly.
The MT anomaly is located approximately 775 metres south of the Copper Trench Breccia.
Drilling
will test the MT anomaly at a vertical depth of about 200 metres. At depth, this anomaly appears to
connect to a larger, strong MT anomaly at approximately 1,000 metres depth.
Transition Chief Operating Officer Greg Collins, P.Geo. stated
"We believe that the Aylmer breccia
system may be the high-level expression of a much larger, vertical intrusion driven, mineralized
system at depth. The brecciation and alteration we are seeing is similar to breccia zones being
explored nearby by companies including Inventus Mining and MacDonald Mines which are reported
to host broad intervals of elevated copper, cobalt, gold and silver values.
We are pleased that funding
for this drilling will be supplemented by grants provided by the Ontario Junior Exploration Program
(OJEP) designed to encourage exploration for new strategic metal deposits in Ontario.
Qualified Person
The technical elements of this press release have been reviewed and approved by Mr. Thomas Hart,
P.Geo. (PGO), a Qualified Person under National Instrument 43-101. All analytical work was conducted
at ALS Laboratories, an independent lab located in North Vancouver, B.C. The quality system used by
ALS Laboratories meets all requirements of International Standards ISO/IEC 17025: 2005 and ISO
9001:2015.
About Transition Metals Corp
Transition Metals Corp (TSXV: XTM) 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 across Canada.
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.
Further information is available at
www.transitionmetalscorp.com
or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Figure 1: Plan Map of the Aylmer Property, showing highlights of channel sampling results and
planned drill hole locations
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2766/134094_b4c21f0ff4f55ba2_002full.jpg
Figure 2: Mobile-MT resistivity composite section for the Aylmer Property, A-A' on Figure 1. Bx =
Breccia
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2766/134094_b4c21f0ff4f55ba2_003full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/134094