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.

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