Transition Metals Commences Drill Program at Its Saturday Night PGM Discovery, and Will Be in Attendance at VRIC and Roundup
Transition Metals (TSXV: XTM) has initiated its 2025 drilling program at the Saturday Night PGM Project near Thunder Bay, Ontario. The program includes two drill holes totaling approximately 1,500 metres to test the basal contact of the mineralized Saturday Night layered intrusion. 50% of the program cost ($200,000) will be funded through an Ontario Junior Exploration Program grant.
Previous drilling in 2016 yielded promising results, including 6.25 metres averaging 1.07g/t PGMs, with a higher-grade section of 4.0 g/t PGM and 0.56% Cu over 0.30 metres. The project is interpreted as an early Mid-Continental Rift intrusion, similar to other mineralized sites like Eagle Mine in Michigan and the Tamarack project in Minnesota.
I Metalli di Transizione (TSXV: XTM) ha avviato il suo programma di perforazione 2025 presso il Progetto Saturday Night PGM vicino a Thunder Bay, Ontario. Il programma prevede due pozzi di perforazione per un totale di circa 1.500 metri per testare il contatto basale dell'intrusione stratificata mineralizzata di Saturday Night. Il 50% dei costi del programma (200.000 dollari) sarà finanziato tramite un grant del Programma di Esplorazione Junior dell'Ontario.
Le perforazioni precedenti nel 2016 hanno fornito risultati promettenti, tra cui 6,25 metri con una media di 1,07 g/t PGM, con una sezione di grado superiore di 4,0 g/t PGM e 0,56% Cu su 0,30 metri. Il progetto è interpretato come un'intrusione dell'inizio del Rift Mid-Continental, simile ad altri siti mineralizzati come Eagle Mine nel Michigan e il progetto Tamarack nel Minnesota.
Metales de Transición (TSXV: XTM) ha iniciado su programa de perforación 2025 en el Proyecto Saturday Night PGM cerca de Thunder Bay, Ontario. El programa incluye dos pozos de perforación con un total de aproximadamente 1,500 metros para probar el contacto basal de la intrusión estratificada mineralizada Saturday Night. El 50% del costo del programa (200,000 dólares) será financiado a través de una subvención del Programa de Exploración Junior de Ontario.
Las perforaciones anteriores en 2016 dieron resultados prometedores, incluyendo 6.25 metros con un promedio de 1.07 g/t PGM, con una sección de mayor grado de 4.0 g/t PGM y 0.56% Cu sobre 0.30 metros. El proyecto se interpreta como una intrusión temprana del Rift Mid-Continental, similar a otros sitios mineralizados como Eagle Mine en Michigan y el proyecto Tamarack en Minnesota.
전이금속 (TSXV: XTM)은 온타리오주 썬더베이 인근의 새터데이 나이트 PGM 프로젝트에서 2025년 시추 프로그램을 시작했습니다. 이 프로그램은 약 1,500미터에 달하는 두 개의 시추 홀로 구성되어 있으며, 이는 새터데이 나이트의 층상 화성암의 기저 접촉을 시험하기 위해 설계되었습니다. 프로그램 비용의 50%(200,000달러)는 온타리오 청년 탐사 프로그램 보조금으로 지원됩니다.
2016년의 이전 시추에서는 6.25미터에서 평균 1.07g/t PGM이라는 유망한 결과가 나왔으며, 그 중 0.30미터에 4.0g/t PGM 및 0.56% Cu의 고품위 구간도 포함되어 있습니다. 이 프로젝트는 미드-콘티넨탈 리프트의 초기 화성암으로 해석되며, 미시간의 이글 광산 및 미네소타의 타마락 프로젝트와 유사한 성격을 지니고 있습니다.
Métaux de Transition (TSXV: XTM) a lancé son programme de forage 2025 au Projet Saturday Night PGM près de Thunder Bay, Ontario. Le programme inclut deux forages totalisant environ 1 500 mètres pour tester le contact basal de l'intrusion stratifiée minéralisée de Saturday Night. 50 % du coût du programme (200 000 dollars) sera financé par une subvention du Programme d'Exploration Junior de l'Ontario.
Des forages antérieurs en 2016 ont donné des résultats prometteurs, notamment 6,25 mètres avec une moyenne de 1,07 g/t PGM, avec une section à haute teneur de 4,0 g/t PGM et 0,56% Cu sur 0,30 mètres. Le projet est interprété comme une intrusion du début du Rift Mid-Continental, similaire à d'autres sites minéralisés tels que la mine Eagle dans le Michigan et le projet Tamarack dans le Minnesota.
Übergangsmetalle (TSXV: XTM) hat sein Bohrprogramm 2025 im Saturday Night PGM-Projekt nahe Thunder Bay, Ontario, begonnen. Das Programm umfasst zwei Bohrungen mit einer Gesamtlänge von etwa 1.500 Metern, um den basalen Kontakt der mineralisierten Saturday Night geschichteten Intrusion zu testen. 50 % der Programmkosten (200.000 Dollar) werden durch einen Zuschuss des Ontario Junior Exploration Programms finanziert.
Frühere Bohrungen im Jahr 2016 ergaben vielversprechende Ergebnisse, darunter 6,25 Meter mit einem Durchschnitt von 1,07 g/t PGM, mit einem hochgradigen Abschnitt von 4,0 g/t PGM und 0,56 % Cu über 0,30 Meter. Das Projekt wird als frühe mid-kontinentale Rift-Intrusion interpretiert, vergleichbar mit anderen mineralisierten Standorten wie Eagle Mine in Michigan und dem Tamarack-Projekt in Minnesota.
- 50% of drilling costs ($200,000) funded through OJEP grant
- Previous drilling showed promising PGM mineralization (6.25m @ 1.07g/t PGMs)
- Project location in established mining district near other successful operations
- None.
- Drilling at the Company's Saturday Night PGM Project commences this week.
- Transition Metals to attend both the Vancouver Resource Investment Conference (VRIC), and the AME Roundup Conference (Roundup).
Sudbury, Ontario--(Newsfile Corp. - January 15, 2025) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company"), is pleased to announce that it has commenced its 2025 drilling program on its
Commenting on the Saturday Night project, CEO Scott McLean stated, "The Saturday Night Project is interpreted to be an early Mid-Continental Rift (MCR) intrusion similar to other known mineralized intrusions in the geologic district include Eagle Mine in Michigan (Lundin Mining), the Tamarack development project in Minnesota (Talon Metals & Rio Tinto) and the Thunder Bay North advanced exploration project (Clean Air Metals). The objective of the program is to further evaluate the extent of the mineralization and the overall prospectiveness of the intrusion. To learn more about the project please review the short project showcase video available on the Company's YouTube channel."
Transition to Attend VRIC and Roundup
Company personnel, including CEO Scott McLean, COO Greg Collins, and Corporate Development Manager Bill Stormont will be attending both the Vancouver Resource Investment Conference (VRIC) and the AME Cordilleran Roundup Conference (Roundup). Company attendance at these conferences is for the purpose of developing relationships towards on-going and new business arrangements. The Company has numerous projects available for option, or purchase. Injuries to arrange meetings can be directed to Bill Stormont, Corporate Development Manager, by E-mail: bstormont@transitionmetalscorp.com, or by telephone: 778-868-9571.
Next Steps
The Company is currently drilling on it's Saturday Night project, undertaking approximately 1,500 metres of drilling, in a minimum of two holes. The drilling will test for extensions to the mineralization intersected in the 2016 discovery hole, and to more fully assess the prospectivity of the Saturday Night Intrusion.
About the Saturday Night Project
The Saturday Night Project, wholly owned by Transition Metals, comprises 63 staked mining claims situated in Fowler Township, that is located approximately 30 kilometres northwest of Thunder Bay, Ontario within the Robinson Superior Treaty area. The project has year-round road access to a main highway and is close to infrastructure. The exploration work to date has confirmed that a magnetic anomaly found on the Property is linked to an underlying mafic-ultramafic Saturday Night Intrusion (SNI), which is interpreted to have originated during the Proterozoic era and is associated with the renowned Midcontinental Rift (MCR).
The MCR is a geological feature that extends over 2,000 kilometres across the heart of North America. It formed around 1.1 billion years ago as the North American craton began to rift. Notably, the early stages of this rift (referred to as 'early-rift') are associated with the presence of mafic to ultramafic intrusive rocks that contain significant quantities of platinum group metals (PGMs). Nearby MCR related deposits include the Thunder Bay North and Sunday Lake deposit. The Sunday Lake deposit was discovered by Transition in partnership with Implats Platinum in 2013. Other rift related Ni-Cu and PGM bearing systems include the Eagle deposit located in Michigan, and the Tamarack and Duluth deposits located in Minnesota. The Saturday Night Project is currently in the early exploration phase, with ongoing assessments aimed at determining the potential of the Property to host PGM mineralization of interest. The Property is subject to an underlying
Government Exploration Grant Program (OJEP)
Transition Metals Corp. would like to acknowledge financial support from the 2024-25 Ontario Junior Exploration Program (OJEP) for the Saturday Night Project, in Ontario. Through the OJEP program, Transition has been selected to receive up to
It's important to note that the opinions and views expressed in this announcement are those of Transition Metals Corp., and do not necessarily reflect those of the Government of Ontario.
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.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237272
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