Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (6054)	4/14/2014 10:29:07 AM
From: Goose94	Read Replies (1) \| Respond to of 202930

Transition Metals (XTM-V) April 14, '14 has closed a non-brokered private placement with Royal Nickel (RNX-T) of six million units at a price of 25 cents for gross proceeds of $1.5-million. April 14, '14 - NR Sudbury Platinum Corp., a private controlled subsidiary of Transition Metals Corp., has closed a non-brokered private placement with Royal Nickel Corp. (RNC) of six million units at a price of 25 cents for gross proceeds of $1.5-million. Each unit consists of one common share and one common share purchase warrant entitling the holder to purchase an additional common share in the company at 45 cents per whole warrant for a period of 18 months. The proceeds from the private placement will be used to aggressively advance exploration work on the company's Aer-Kidd project in 2014. Work planned in 2014 includes up to 4,000 metres of diamond drilling to test high-potential non-decaying borehole electromagnetic (EM) targets identified by the SPC in January (please refer to news release dated Jan. 16, 2014) and the completion of additional borehole EM survey work. Transition will oversee and implement all exploration programs at Aer-Kidd pursuant to an operating agreement it holds with Sudbury Platinum. Scott McLean, president and chief executive officer of Transition, commented: "We are pleased to partner with Royal Nickel Corp. on this project through our shared ownership in Sudbury Platinum. We are also very excited to test the exceptional conductivity targets we have identified associated with our portion [of] the prolific Worthington offset dike, and look forward to exploration success that could have a significant positive impact to the shareholders of SPC and Transition." About the Aer-Kidd property The Aer-Kidd property is located approximately 20 kilometres southwest of Sudbury, Ont., and covers a 1.3-kilometre section of the Worthington offset dike in an area with a rich mining history, dating back to the 1800s. The property is approximately 2.6 kilometres along strike to the northeast of Vale's Totten mine (10.1 million tonnes grading 1.5 per cent nickel, 1.97 per cent copper, 4.8 grams per tonne PGM (platinum group metals) -- resource reported by Inco; Jan. 31, 2001, news release) that is currently in production, and 4.3 kilometres to the southwest and along trend of KGHM's Victoria mine (14.5 million tonnes grading 2.5 per cent Ni, 2.5 per cent Cu, 7.6 g/t PGM -- resource reported by KGHM; Jan. 16, 2012, news release), which is currently being developed. The Aer-Kidd property hosts the former-producing Howland pit, and Robinson and Rosen mines, which were small deposits exposed at surface and were mined down to a maximum depth of 300 metres. SPC has undertaken a detailed review of historical geophysical and geological data, and believes that the property has excellent potential to host an economic Ni-Cu-PGM deposit. Sudbury Platinum retains an option to earn up to a 70-per-cent interest in the Aer-Kidd mineral rights, which are 100 per cent owned by Canickel Mining Ltd. Qualified person The technical elements of this news release have been approved by Grant Mourre, PGeo (APGO), a qualified person under National Instrument 43-101. Information used in this release of a historical nature has not been verified by the company, hence should not be relied upon.