Sudbury Platinum Completes $2 Million Private Placement, Begins Drilling at Aer-Kidd

Sudbury Platinum Corporation and Transition Metals Corp. (TSXV:XTM) have announced additional financing of $2 million. The companies also announced the start of drilling at their Aer-Kidd project in the Sudbury mining camp.

As quoted in the press release:

The 2014 drill program will consist of 4,500m designed to test high-conductance electromagnetic targets identified on the Aer-Kidd Property located beneath sites of historic past production at depths between 750-1,200m (see Figure 1). In addition to drilling, other activities will include hole cleaning and resurveying of three historic boreholes aimed at further evaluating the potential down-plunge of the past producing Robinson and Rosen Mines as well as the Howland pit.

SPC and Transition CEO, Scott McLean, said:

We are pleased with the progress Sudbury Platinum has made on the Aer-Kidd Project. Acquiring a 100% interest in the project in August was an opportunity that we felt we could not pass-up. A consequence of the transaction however was a need to further capitalize the Company to enable the completion of planned drilling. We believe the Aer-Kidd Property has exceptional prospectivity for the discovery of Ni-Cu-PGM mineralization similar to Vale’s Totten Mine and KGHM’s Victoria Development.

Click here to read the Sudbury Platinum Corporation press release