- Transition Metals (XTM) has discovered a new high-grade gold occurrence at its Sawmill property near Sudbury, Ontario
- Recent samples show high-grade assays such as 38.7 grams per tonne and 30.7 grams per tonne of gold
- The company has the right to earn 100 per cent interest in the property
- It believes the property has potential for high-grade, lode gold and hydrothermal-style deposits
- Shares in Transition Metals are steady and are trading at C$0.18 per share
Transition Metals (XTM) has discovered a new high-grade gold occurrence at its Sawmill property near Sudbury, Ontario.
Samples collected in late November, 2020 show high-grade yield assays of 38.7 grams per tonne and 30.7 grams per tonne of gold.
The company says encouraging results were also found at four other areas on the property that were followed up on with channel sampling.
“Our interest in the Sawmill property is part of a regional strategy we are pursuing in 2021 to investigate Sudbury Area polymetallic exploration plays,” said CEO Scott McLean.
“We are encouraged by the results at the Sawmill property and are looking forward to following up on these results this winter. While Covid 19 continues to impact the ability of some companies to work effectively in remote locations, the Sawmill property is accessible year round from Transition’s home base in Sudbury,” he added.
Transition believes the property is prospective for high-grade, lode gold and hydrothermal-style deposits.
The company has the right to earn 100 per cent interest in the property.
The southwestern part of the Sawmill property is underlain by Archean rocks of the Benny greenstone belt where previous work has highlighted zones of gold mineralization associated with quartz-carbonate veins in fractures.
Headquartered in Ontario, Transition is a multi-commodity project generator that specializes in converting new exploration ideas into discoveries.
Shares in Transition Metals are steady and are trading at C$0.18 per share at 3:01pm EST.
