23:12:51 EDT Fri 19 Jul 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Transition Metals Corp (2)
Symbol C : XTM
Shares Issued 43,354,906
Close 2019-06-05 C$ 0.20
Recent Sedar Documents

Transition Metals resumes drilling at Highland

2019-06-05 11:26 ET - News Release

Mr. Scott McLean reports

TRANSITION RESUMES DRILLING AT HIGHLAND GOLD PROPERTY IN NOVA SCOTIA

Transition Metals Corp. has resumed exploration drilling at its Highland gold project in Cape Breton, N.S. In January of this year, the company reported a 9.14-metre intersection grading 23.22 grams per tonne (g/t) gold from a program of percussion rotary air blast (RAB) drilling (see Transition news release dated Jan. 14, 2019). In the fall of 2018, the company initiated an approximately 1,000-metre program of percussion drilling to test a cluster of high-grade showings within a roughly five-square-kilometre portion of the property highlighted by till sampling. This program however was not completed due to the onset of winter conditions. The company plans to continue the program this spring by completing an additional 15 to 20 holes totalling approximately 1,000 metres using an air powered reverse circulation (RC) drill. Additional work planned during the summer includes investigating other portions of its more-than-100-square-kilometre land position in the region.

Transition's chief executive officer, Scott McLean, commented: "The Highland property has returned some of the highest grades of gold the company has drilled to date and we are excited to resume our exploration efforts on the property to further evaluate the more-than-30 known high-grade showings. In addition, the extensive stream sediment and till-gold anomalies identified by our work supports the presence of large-scale mineralized systems with gold interpreted to have been sourced from multiple structures. The work planned for this summer will help us better understand the scale and economic potential of these systems."

The Highland gold property

The property comprises approximately 107 square kilometres of staked and optioned mining licences on crown land approximately 60 kilometres northwest of Sydney, N.S. It covers a cluster of high-grade gold occurrences in a portion of the Avalon terrain that has seen very limited exploration. Rocks of similar age and formation are known to host significant gold deposits in the Carolinas, Newfoundland and the British Isles. The regional geologic framework in Cape Breton is interpreted by Transition to be similar to that hosting First Mining Gold's Hope Brook deposit in Newfoundland (844,000 ounces of gold grading 4.77 g/t gold in the indicated resource category and 110,000 ounces grading 4.11 g/t gold in the inferred resource category) and Oceana Gold's Haile mine in South Carolina (3.32 million ounces grading 1.77 g/t gold in the measured and indicated resource category and 600,000 ounces grading 1.4 g/t gold in the inferred resource category).

Qualified person

The technical elements of this press release have been approved by Greg Collins, professional geoscientist (Association of Professional Geoscientists of Ontario, Association of Professional Geoscientists of Nova Scotia), a qualified person under National Instrument 43-101. Historical assay results cited above have not been verified by the qualified person.

About Transition Metals Corp.

Transition is a Canadian-based, multicommodity 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 financing a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.