Transition Metals, Implats Announce Platinum Discovery at Sunday Lake

Transition Metals Corp. (TSXV:XTM) yesterday announced assay results from the drill program completed at the Sunday Lake project, of which it owns 50 percent. Significant platinum-rich mineralization was intersected in four holes, with the most significant being SL-13-002, which intersected 20.2 meters containing 3.22 g/t combined precious metals.

The drill program was completed in partnership with Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).

Other highlights include:

• Drilling has outlined a mineralized zone/zones containing >1 g/t PGMs up to 20 metres in thickness over a strike length of 800 metres between 150 and 500 metres below surface.
• Semi-massive sulphide veins intersected along the basal contact returned up to 7.82 g/t PGMs, 1.98% Cu & 1.10% Ni over 0.4 metres.
• Footwall mineralization within thermally altered country rock immediately below the intrusion returned 1.7 metres averaging 4.83 g/t PGMs, 0.77% Cu & 0.05% Ni was intersected within a larger 9.7 metres zone grading >1.0 g/t PGMs.
• Mineralization has high Pt:Pd ratios, which are typically >1:1.
• The mineralization is associated with a buried Proterozoic aged mafic to ultramafic intrusive complex interpreted to be at least 3.5 kilometers in diameter. To date, only a small portion of the intrusive complex has been tested by drilling, with all holes that intersected the intrusion encountering elevated platinum group metals.

Click here to read the full Transition Metals Corp. (TSXV:XTM) press release.