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Be the first with the news that moves the market- Transition Metals Corp (XTM) reported results from borehole electromagnetic (BHEM) survey work completed on its Maude Lake Property
- Borehole surveys detect a large untested off-hole conductor from hole ML-22-03 at a depth of 160 metres downhole
- The team found that the conductivity target appears to increase in both size and strength with depth
- Transition Metals Corp. (XTM) opened trading at $0.075 per share
Transition Metals Corp (XTM) reported results from borehole electromagnetic (BHEM) survey work completed on its Maude Lake Property.
Borehole surveys detect a large untested off-hole conductor from hole ML-22-03 at a depth of 160 metres downhole. The team found that the conductivity target appears to increase in both size and strength with depth.
Highlights:
- 20.01 metres of 0.50 per cent Ni Eq, including 4.00 metres of 0.90 per cent Ni Eq in hole ML-22-01
- 7.52 metres of 0.65 per cent Ni Eq, including 1.17 metres of 2.54 per cent Ni Eq in Hole ML-22-02
- 4.04 metres of 0.27 per cent Ni Eq in hole ML-22-03
The survey was designed, verified, and modeled by geophysicist Warren Hughes, P.Geo., of East Coast Consulting.
Located near Schreiber, Ontario within the traditional territory of the Pays Plat First Nation, the Maude Lake Property is composed of 74 contiguous mining claims on crown land, which covers an area measuring 14 sq. km.
Transition CEO Scott McLean commented on the results.
“The results of this survey are encouraging as they highlight that the potential grade and size of this exciting new magmatic Ni-Cu-PGM system may be improving at depth. We are looking forward to more drilling on this project as this summer’s field work gets underway.”
East Coast Consulting geophysicist Warren Hughes added that the results for ML-22-01 and ML-22-02 show in-hole anomalies coincident with intersected mineralization.
“Hole ML-22-03 results show an off-hole conductive body to the southeast and down dip of the hole. This conductive body is more conductive than ML-22-01 and ML-22-02 and is larger in size. This could indicate a bigger, thicker package of mineralization at depth which has yet to be tested.”
Transition Metals Corp. is a Canadian multi-commodity explorer that specializes in converting new exploration ideas into discoveries.
Transition Metals Corp. (XTM) opened trading at $0.075 per share.
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