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Transition Metals (TSXV:XTM) has resumed drilling at its Sunday Lake discovery north of Thunder Bay, Ontario. The project is a joint venture with Impala Platinum (JSE:IMP).
Transition Metals (TSXV:XTM) has resumed drilling at its Sunday Lake discovery north of Thunder Bay, Ontario. The project is a joint venture with Impala Platinum (JSE:IMP).
As quoted in the press release:
In addition, the Company announces that it has staked a 100% interest in approximately 2,512 hectares covering the nickel, copper and platinum group metals (Ni-Cu-PGM) bearing Kitto intrusion. The Kitto intrusion is located approximately 10 kilometres west of the town of Beardmore, Ontario and has a number of similarities to the intrusion that hosts the company’s Sunday Lake discovery. The Sunday Lake project is a joint venture between Transition and Impala Platinum Holdings Limited (Implats) of South Africa. Funding for the Sunday Lake project is solely provided by Implats until the completion of a feasibility study.
Transition Metals president and CEO, Scott McLean, said:
We are pleased to be drilling again at Sunday Lake to further evaluate the quality and extent of the exceptional PGM mineralization outlined to date. Our developing knowledge of the geology and controls on mineralization at Sunday Lake has led us to identify the Kitto intrusion as a similarly prospective and PGM fertile target. Like Sunday Lake, Kitto has only seen a cursory amount of exploration to date. We look forward to advancing both projects and developing new partnerships around the Kitto opportunity in the coming months.
Click here to read the Transition Metals (TSXV:XTM) press release