Transition Metals Secures Dessert Lake, a District-Scale Uranium Play in Northwest Territories, Canada
Transition Metals (TSXV: XTM) has secured exclusive rights to stake mining claims within the Dessert Lake Basin, a 713 square kilometer area located 80km west of Yellowknife, Northwest Territories, Canada. The company has obtained permits providing exclusivity for up to four years.
The area represents a district-scale uranium opportunity, featuring geology analogous to the Athabasca Basin. The presence of the Wopmay Fault, a major crustal fault controlling root uranium occurrences along its length, enhances the project's potential. The company aims to evaluate the unconformity-controlled uranium potential in this Tier-1 jurisdiction.
I Metalli di Transizione (TSXV: XTM) ha ottenuto diritti esclusivi per rivendicare concessioni minerarie all'interno del Bacino di Dessert Lake, un'area di 713 chilometri quadrati situata a 80 km a ovest di Yellowknife, nei Territori del Nord-Ovest, Canada. L'azienda ha ottenuto permessi che garantiscono esclusività per un periodo di quattro anni.
L'area rappresenta un'opportunità di uranio su scala distrettuale, con una geologia analoga a quella del Bacino di Athabasca. La presenza della Faglia di Wopmay, una grande faglia crostale che controlla le occorrenze di uranio lungo il suo percorso, aumenta il potenziale del progetto. L'azienda mira a valutare il potenziale di uranio controllato da incongruenze in questa giurisdizione di livello 1.
Metales de Transición (TSXV: XTM) ha asegurado derechos exclusivos para reclamar concesiones mineras dentro de la Cuenca de Dessert Lake, un área de 713 kilómetros cuadrados ubicada a 80 km al oeste de Yellowknife, Territorios del Noroeste, Canadá. La compañía ha obtenido permisos que proporcionan exclusividad por hasta cuatro años.
El área representa una oportunidad de uranio a escala distrital, con una geología análoga a la de la Cuenca de Athabasca. La presencia de la Falla de Wopmay, una importante falla crustal que controla las ocurrencias de uranio a lo largo de su longitud, aumenta el potencial del proyecto. La compañía tiene como objetivo evaluar el potencial de uranio controlado por incongruencias en esta jurisdicción de nivel 1.
전이 금속 (TSXV: XTM)은 디저트 레이크 분지 내에서 광산 청구권을 독점적으로 주장할 권리를 확보했습니다. 이 지역은 캐나다 노스웨스트 준주 옐로우나이프에서 서쪽으로 80km 떨어진 713평방킬로미터 면적입니다. 이 회사는 최대 4년 동안 독점성을 보장하는 허가를 받았습니다.
이 지역은 아타바스카 분지와 유사한 지질을 특징으로 하며, 구역 규모의 우라늄 기회를 나타냅니다. 이 지역의 주요 지각 단층인 워프메이 단층의 존재는 프로젝트의 잠재력을 높입니다. 이 회사는 이 1급 관할권에서 불일치로 제어되는 우라늄 잠재력을 평가하는 것을 목표로 하고 있습니다.
Métaux de transition (TSXV: XTM) a obtenu des droits exclusifs pour revendiquer des concessions minières dans le Bassin de Dessert Lake, une zone de 713 kilomètres carrés située à 80 km à l'ouest de Yellowknife, dans les Territoires du Nord-Ouest, au Canada. L'entreprise a obtenu des permis garantissant l'exclusivité pour une durée maximale de quatre ans.
Cette zone représente une opportunité d'uranium à l'échelle d'un district, avec une géologie analogue à celle du bassin d'Athabasca. La présence de la Faille de Wopmay, une faille crustale majeure contrôlant les occurrences d'uranium le long de sa longueur, renforce le potentiel du projet. L'entreprise vise à évaluer le potentiel d'uranium contrôlé par des incongruences dans cette juridiction de niveau 1.
Übergangsmetalle (TSXV: XTM) hat exklusive Rechte zur Beantragung von Bergbauansprüchen innerhalb des Dessert Lake Beckens gesichert, einem 713 Quadratkilometer großen Gebiet, das 80 km westlich von Yellowknife, Nordwest-Territorien, Kanada, liegt. Das Unternehmen hat Genehmigungen erhalten, die Exklusivität für bis zu vier Jahre gewähren.
Das Gebiet stellt eine uranreiche Gelegenheit im Maßstab eines Distrikts dar und weist eine Geologie auf, die mit dem Athabasca-Becken vergleichbar ist. Die Präsenz des Wopmay-Bruchs, einer großen krustalen Verwerfung, die die Uranvorkommen entlang ihrer Länge kontrolliert, erhöht das Potenzial des Projekts. Das Unternehmen plant, das uranreiche Potenzial, das durch Unstimmigkeiten kontrolliert wird, in dieser Tier-1-Jurisdiktion zu bewerten.
- Secured exclusive staking rights for 713 km² uranium-prospective area
- Long-term exclusivity period of 4 years
- Strategic location in Tier-1 jurisdiction near Yellowknife
- Geological similarities to productive Athabasca Basin
- Presence of major Wopmay Fault structure indicating uranium potential
- None.
Company has secured exclusive rights to stake mining claims within the >700 km2 Dessert Lake Basin in the NWT, Canada
Area covers hidden Proterozoic basin similar to the Athabasca and Thelon basins
Geophysical signatures indicative of large uranium district
Sudbury, Ontario--(Newsfile Corp. - February 12, 2025) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company"), is pleased to announce that it has secured access to a district scale uranium opportunity at Dessert Lake, located approximately 80km west of Yellowknife, NWT. The permits provide the Company with exclusivity to stake mining claims within an approximate 713 square km area for up to four (4) years. Figure 1 depicts the location of the permit area relative to the major uranium districts and deposits of northern Canada.
Fig 1. Location of the Dessert Lake Basin, key Structures and Uranium Deposits of Northern Canada
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/240521_c32092ddc42b986c_001full.jpg
Commenting on the Dessert Lake opportunity, CEO Scott McLean stated, "We have long recognized the significant uranium potential of the buried Dessert Lake Mesoproterozoic basin. Dessert Lake's geology is analogous to the Athabasca Basin, and the presence of a major crustal fault (Wopmay Fault), which controls root uranium occurrences along its length, makes this a highly compelling district play. As the world increasingly recognizes uranium as a critical component of the global transition to reliable, low-carbon energy, projects like Dessert Lake, located within Tier-1 jurisdictions, take on even greater importance. We look forward to advancing the project towards evaluating the unconformity-controlled uranium potential.
About Dessert Lake
Dessert Lake is a recently recognized Mesoproterozoic redbed sandstone basin, identical in age and similar geological formation to the Athabasca and Thelon basins, which host world-class uranium deposits. Similar to how the major crustal P2 Fault and related structures control the introduction of uranium-bearing fluids in the Athabasca Basin, the Dessert Lake Basin is intersected by the Wopmay Fault-a major crustal structure associated with numerous root-style uranium vein deposits. Along its 500 km length, this fault hosts historically significant uranium mines, including the Eldorado Mine near Port Radium and the Rayrock Mine north of Yellowknife.
As the Wopmay Fault extends southward into the area secured by the Company, its surface expression becomes obscured beneath a thin veneer of Paleozoic rocks. However, work conducted by the Geological Survey of Canada (GSC), along with fieldwork and core logging by Anglo American in the early 2000s, confirmed the presence of Proterozoic Athabasca-type redbeds at shallow, drill-accessible depths beneath the thin Phanerozoic cover along the fault trend. This geological setting presents strong potential for the formation of basement-hosted uranium deposits similar to those found in the Athabasca and Thelon basins.
The prospecting licences secured by Transition provide the company exclusivity to stake claims within the area of more than 700km2, which has the potential to host a wide range of unconformity and fault-related uranium deposits.
Next Steps
The project requires regional geophysical surveying and drilling. Given the size of the opportunity, the Company will seek a partner to jointly advance the district play.
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/240521
FAQ
What is the size of Transition Metals' (TNTMF) new Dessert Lake uranium project?
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