Transition Metals (XTM-V) Sept 24, '14 is pleased to announce resumption of exploration at its Sunday Lake Project, located near Thunder Bay, Ontario. The Sunday Lake Project is a joint venture between Transition and Impala Platinum Holdings Limited (Implats) of South Africa that is solely funded by Implats until the completion of a Feasibility Study. The company has initiated a fall program of ground geophysics, field work, and diamond drilling to further explore the mineralized intrusion and investigate previously untested targets. In January (please refer to news release dated January 27, 2014) the company announced that it had intersected 20.2 meters grading 3.22 combined Pt+Pd+Au or PGMs. In June (please refer to news release dated June 4, 2014) the company reported assay results from a 15 metre interval containing 2.84 g/t PGMs as well as a 5.0 metre interval averaging 5.0 g/t PGM's that included a 1 metre interval containing 9.75 g/t PGMs.
Planned work includes ground geophysics and detailed geological mapping coverage over portions of the property acquired since the initial discovery. This data will be used to further refine targets in preparation for drilling. Drilling is planned to get underway in late October, dependent upon access logistics and the weather.
Commenting on the project, company CEO and President Scott McLean stated "In addition to expanding known zones, we are also looking forward to expanding the scope of our exploration activity at Sunday Lake to evaluate other portions of this prospective, mineralized intrusion. Potential exists to identify similar mineralization outside of known zones and massive magmatic nickel-copper-PGM mineralization at depth. Considerable work remains to evaluate the extent of the mineralization discovered to date and the full global potential of the Sunday Lake Intrusion." |
