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Sudbury Platinum Acquires Sudbury Mining Camp Properties from Transition Metals
May. 05, 2016 09:51AM PST
Base Metals Investing Sudbury Platinum has acquired Lockerby East and West Graham located within the Prolific Sudbury Mining Camp from Transition Metals (CVE:XTM). As quoted in the press release: On January 25, 2016 Transition announced the acquisition of the Lockerby East and West Graham Properties. Subject to a Memorandum of Understanding, Transition has assigned its interest in the …
Sudbury Platinum has acquired Lockerby East and West Graham located within the Prolific Sudbury Mining Camp from Transition Metals (CVE:XTM).
As quoted in the press release:
On January 25, 2016 Transition announced the acquisition of the Lockerby East and West Graham Properties. Subject to a Memorandum of Understanding, Transition has assigned its interest in the Properties to SPC for costs totaling $220,081.
SPC President Grant Mourre remarked “We are very pleased to complete the acquisition of the Lockerby East and West Graham Properties. We feel the addition of these two exciting new projects to SPC’s property portfolio, that already includes our flagship Aer-Kidd Project, gives us three high-quality assets within the camp which will be the focus of our exploration activities over the next couple of years.”
To date the Company has completed internal compilation and interpretation of historically available exploration data, including a detailed review of historic borehole electromagnetic (BHEM) surveys within the Lockerby East and West Graham Properties and has identified very high conductivity target areas associated with the basal contact of the Sudbury Igneous Complex (SIC) in close proximity to intersections of anomalous mineralization. SPC has prioritized historic drill holes related to these high conductivity target areas to be resurveyed with modern borehole geophysical methods as soon as possible.