Announcement Date: 2022-11-28
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Transition Metals Corp.
Project name: Maude Lake
Location: Canada
Commodities: Gold,Palladium,PGM,Platinum,Copper,Nickel,Cobalt
Highlight: Drilling results incl. 20.01m at 0.33% Ni, 0.28% Cu, 100.00ppm Co, 0.03g/t Pt, 0.08g/t Pd, 0.02g/t Au, from 99.99m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: 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 300×500 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
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