See High Quality AU, PGM, CU, and W Projects Available for Option at Transition Metals PDAC Booth 2126, Investors Exchange, South Building, MTCC
Toronto, February 27, 2020 - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") invites you to meet with Company representatives at Booth #2126 in the Investors Exchange at the PDAC 2020 Mining Convention to be held from March 1-4, 2020 at the Metro Toronto Convention Centre (MTCC), Toronto, Canada.
The PDAC, held annually, is considered the world's premier mineral exploration and mining convention. Transition Metals looks forward to updating shareholders and conference attendees on its many attractive projects and exploration plans for 2020.
The Company will be showcasing the following high-quality projects that are available for option, acquisition or joint venture:
- Saturday Night PGM-Ni-Cu Project: The Company holds a 100% interest in the property that is located 16 kilometres west of the Sunday Lake PGM discovery near Thunder Bay Ontario (a Joint Venture between the Company and Implats). Drilling of a magnetic anomaly by Transition at Saturday Night intersected a PGM mineralized, buried mafic-ultramafic intrusion that is similar to the Sunday Lake discovery (reference PR).
- Highland Gold Project: The property covers a widespread cluster of high-grade gold occurrences in an area that has seen very limited exploration. The property is 107 square kilometres in size and is located 60 kilometres northwest of the city of Sydney, Nova Scotia. Transition has completed work highlighting large scale structures, strong alteration and widespread bedrock mineralization that are consistent with aspects of an epithermal gold system. Drilling to date has returned up to 9.14 metres grading 23.22 g/t Au (see Company news release of January 14, 2019).
- Wollaston Copper Project: The 151 square kilometer property in central Saskatchewan covers copper showings interpreted to have potential to host sedimentary-hosted copper mineralization similar to, with rocks interpreted to be on-strike equivalents to, the Janice Lake Project located 65 kilometres to the north. The Janice Lake Project is being advanced by Rio Tinto Exploration Canada (RTEC) that is currently constructing a 99 kilometre access road and a temporary 65-80 person work camp to support drilling and mineral exploration at Janice Lake. Recent drilling by Rio Tinto Canada returned widespread copper mineralization (example; 0.41% Cu and 4.2 g/t Ag over 57.1 metres, including 0.95% Cu and 9.7 g/t Ag over 13 metres; see Company news release of October 10, 2019).
- Maude Lake Ni-Cu-Co-PGM Project: Located 10 kilometres north of Schreiber, Ontario, the property consists of staked mining claims covering approximately 150 square kilometres. The property sits on the southern limb of the Archean Hemlo-Schreiber greenstone belt and covers the contact between mafic to felsic volcanic lithologies to the south and the Crossman Lake granitic pluton to the north. Base metal sulphides occur as massive to vein-like and net-textured aggregates along the contact between the mafic-ultramafic intrusion to the south and the granite to the north. The massive sulphide showing is exposed across approximately 75 metres and recent channel sampling returned high grade mineralization including 2.09 % Ni, 0.64 % Cu and 0.32 g/t PGM (Pt+Pd+Au) over 4.0 metres (see Company news release of October 15, 2019).
- Fostung Tungsten Project: The Fostung mineralization is a skarn-type, tungsten deposit located within calcareous Huronian metasedimentary units unconformably overlying Precambrian basement rocks near Espanola 70 kilometres southwest of Sudbury, Ontario. The property hosts an historic tungsten trioxide (WO3) skarn resource that in 2007 was stated to contain an Inferred Mineral Resource of 12.4 million tonnes (Mt) grading 0.213 wt. % WO3 (see Company news release of November 14, 2019).
The resource estimate completed on the Fostung Property that is mentioned in this release was completed at the request of Golden Predator Mine Inc. in 2007 by SRK Consulting Inc1. The report states a CIM classified Inferred Mineral Resource of 12.4 Mt of mineral material with 0.213 wt.% WO3 using a 0.125 wt.% cut-off based on information from 44 drillholes totaling 9,185 metres completed from 1966 to 1986. The Company discloses that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or mineral reserve. Furthermore, the Company has not independently verified the samples and grades presented in this release and consider them to be historic in nature.
¹ Source: NI 43-101 Technical Report on Resources, Golden Predator Mines Inc., Fostung Project Foster Township, Ontario, Canada. Prepared by SRK Consulting, November 30, 2007. Transition has not done sufficient work to classify this historical estimate as a current mineral resource hence it should not be relied upon.
Please visit the PDAC event website for registration information. We look forward to seeing everyone at the PDAC.
Qualified Person
The technical elements of this press release have been approved by Mr. Greg Collins, P.Geo. (PGO), a Qualified Person under National Instrument 43-101.
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 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/52898
