Transition Metals Intersects 20.01 Metres Averaging 0.5 % Ni Eq, Including 4.00 Metres Averaging 0.9 % Ni Equivalent at Maude Lake Project, Schreiber, Ontario Ni-Cu mineralization occurs within a 5 to 15m thick zone of magmatic sulphides that is at
Transition Metals Intersects 20.01 Metres
Averaging 0.5 % Ni Eq, Including 4.00 Metres
Averaging 0.9 % Ni Equivalent at Maude Lake
Project, Schreiber, Ontario
Ni-Cu mineralization occurs within a 5 to 15m thick zone of magmatic sulphides that is at
least 600 by 800 metres long that remains open in all directions
Sudbury, Ontario--(Newsfile Corp. - November 28, 2022) - Transition Metals Corp (TSXV: XTM)
("Transition", "the Company") is pleased to report assays from the drilling completed this fall at its
Maude Lake Property located 10km north of Schreiber, Ontario (Figure 1).
The drill program was
completed this September and consisted of 3 NQ size diamond drill holes for a total of 561 metres. The
drilling targeted an approximate 300x500 metre VTEM conductor, (see news release dated Sept. 12,
2022) interpreted based on work completed this summer by the Transition team to be an offset down dip
extension of mineralization exposed at surface.
Figure 2 is plan map of the drilling while Figure 3 is a
geological cross section.
Table 1 presents significant results and Table 2 lists collar coordinates and
orientation information.
Highlights are as follows:
20.01 metres averaging 0.50 % Ni Eq*,
including
4.00 metres averaging 0.90 % Ni Eq*
in hole
ML-22-01, and
1.17 metres averaging 2.54 % Ni Eq*
in Hole ML-22-02
Significant intervals of high tenor Ni-Cu-Co and PGM mineralization were intersected in all 3 holes
Mineralization occurs near base of a large mafic intrusion, measuring approximately 1,000 metre
wide, up to 500 metre thick, and extends for at least 2.5 kilometres to the southeast
An interpretation of the VTEM data suggests that the mineralized zone may extend below the 150
metre observed detection limit of the survey supporting a thesis that the intersected mineralization
continues at depth
Transition CEO Scott McLean commented,
"The drilling confirms the presence of a continuous looking
zone of high tenor nickel and copper sulphide mineralization accumulating near the base of a large
mafic intrusion. Given the size of the intrusion and the observed geophysical response, we feel that
this mineralized zone has a considerable amount of room to grow."
Table 1:
2022 Significant Drilling Results - Maude Lake Project
Note: The reader is cautioned that the assays reported above may not be representative of mineralization across the entire Maude Lake Property.
The length reported is the sample length and is not necessarily the true width of the mineralized zone.
Table 2:
Hole coordinates and orientation information, Maude Lake Project
All three holes collared in gabbro, intercepting mineralization at or close to target depth in a
pyroxenitic/altered phase, located near the contact of the gabbro with a granodiorite intrusion.
Mineralization consists of fine to medium grained sulphide blebs and disseminations that transition into
interstitial to net-textured suphides, interspaced by narrow intervals of semi-massive to massive
sulphides. Some fracture-controlled chalcopyrite dominant mineralization is observed in footwall
underlying the contact.
The best mineralized intercepts correspond to higher zones of conductivity modelled from the VTEM
system. The Company is now working to survey completed holes with a time domain borehole EM
system which should provide better definition of the extent of the targeted conductive trend below the
150-200 metre effective penetration depth of the VTEM system. Additional geophysical inversion
models and petrographic studies are ongoing, with the planed inclusion of a targeted ground EM
geophysical survey.
The Maude Lake property consists of staked mining claims on crown land that cover approximately
1,398 hectares in the Pays Plat Lake, Lower Aguasabon Lake and Priske township/areas that were
optioned to the Company in 2019. The property lies within the traditional territory of the Pays Plat First
Nation.
Qualified Person
The technical elements of this press release have been reviewed and approved by Ben Williams, P.Geo.
(PGO), a Qualified Person as defined under National Instrument 43-101.
Data Verification, Sampling Procedures & QA/QC
The Company follows rigorous sampling and analytical protocols that meet or exceed industry standards.
Core samples are stored in a secured area until transport in batches to the ALS facility in Sudbury,
Ontario, Canada.
Sample batches include certified reference materials, blank, and duplicate samples
that are then processed under the control of 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. Platinum, palladium, and gold values were
determined together using standard lead oxide collection fire assay and ICP-AES finish. Base metal
values were determined using sodium peroxide fusion and ICP-AES finish. Silver values were
determined using an aqua regia digestion and an AAS finish. In the case of over limits, Au is determined
by fire assay and gravimetric finish, and for Pt and Pd are determined by fire assay and AAS finish.
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 discoveries. The award-winning team of
geoscientists have extensive exploration experience which actively develop and test new ideas for
discovering mineralization in places where others have not searched, 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.
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:
Location of the Maude Lake Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/145890_1aa15235b4e95b46_004full.jpg
Figure 2:
Plan map of completed diamond drill holes and conductivity Target. The map shows the
location of the cross section A-A' in Figure 3
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/145890_1aa15235b4e95b46_005full.jpg
Figure 3:
Composite vertical cross section with trench sampling and drilling results. See Figure 2 for
location of section.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/145890_1aa15235b4e95b46_006full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/145890