Transition Metals Corp. Provides Update on Remote Sensing and Field Programs At the Pike Warden Project, Yukon
May 22, 2024 at 11:47 am
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Transition Metals Corp. to provide an update regarding work completed on its Pike Warden project ("the Property") located near Whitehorse, Yukon. The Company's has received final products from the remote sensing surveys previously announced in press releases dated June 24 and September 11, 2023. The results, together with interpretation of the summer field work highlighted a large un-explored prospective area, sparked the Company to stake additional claims, and complete a follow-up program of sampling in late September. This work has resulted in the discovery of 2 new occurrences of molybdenite. Multispectral Satellite Alteration Mapping: PhotoSat successfully collected cloud-free multispectral data over the property from the WorldView-3 satellite on August 27, 2023. PhotoSat utilizes high-resolution multispectral satellite imagery to recognize mineral system associated alteration through spectral mapping and deep-learning technology, identifying target areas for follow-up exploration. A preliminary review of this data highlighted a previously unrecognized corridor of focused alteration and mineralization within a widespread propylitic alteration signature developed around one of the major caldera collapse style structures, located in the northeastern portion of the property. Alteration along this corridor consists of strong sericite ± pyrite ± iron-oxide signatures within an elevated potassic trend highlighted by a previous airborne radiometric survey. Increases in the intensity of sericite, pyrite, and potassic alteration signatures, along with other metallic elements such as molybdenum, bismuth, and tellurium can be indicator pathfinders to vector towards porphyry copper mineralization. September Sampling and Staking Program: In late September, a sampling program was conducted to assess features highlighted by the
multispectral survey. This work identified two new occurrences of molybdenite, hosted in strong sericite ± pyrite ± iron-oxide altered biotite quartz diorite. Photo 1 shows an example of the large disseminations of flake molybdenite associated with finer grained sulphides found at one of these locations. In total, 78 surface grab and float samples were collected from across the underexplored northeast section of the property and have been submitted to ALS-Chemex for analysis with results expected in mid-November. During this program, the Company also staked an additional 18 claims (approximately 376 ha) to secure prospective terrain highlighted by the multispectral survey in the northeastern portion of the property. LiDAR and Orthophotography Survey: Final deliverables from a high-resolution LiDAR and orthophotography survey completed by Pioneer Exploration Consultants Ltd. have been received. Products from this survey will be used to highlight lineaments towards further defining key contacts, structural and mineralized trends, and will aid in the planning for future field programs. Next Steps: Once results from the recently completed sampling program are received, they will be integrated into the Company's growing dataset for this project. Over the coming months, the Exploration Team will review
the data, continue to refine the geological model, initiate petrographic and lineament studies to better understand controls on mineralization, and highlight and refine priority targets for diamond drilling on the Property. Results from sampling have been encouraging thus far, and the Company will seek appropriate permits for next season from the Government of Yukon while continuing to engage with Carcross/Tagish First Nation about future planned work programs. In addition, Company representatives will be attending the Yukon Geoscience Forum & Trade Show from November 19-22 in Whitehorse, where they will present an update on the Pike Warden project for attendees. This Forum is the largest geoscience and minerals industry conference "north of 60", and provides an opportunity for the mining sector, First Nations, government, and local communities to meet and explore challenges and opportunities related to advancing the Yukon's exploration and mining industry.
Transition Metals Corp. is a multi-commodity company. The Company is engaged in the acquisition and exploration of mineral exploration properties in Canada and the United States. Its projects include Pike Warden, Saturday Night, Maude Lake Property, Wollaston Copper, Jolly Gold, Duntara Copper Property, Highland Gold, Gowganda Gold, Cryderman Gold, Bancroft, Aylmer IOCG, Lewisporte Property and Island Copper Property. The Jolly Gold covers the western extension of the Beardmore-Geraldton greenstone belt. Maude Lake Property is an emerging, high tenor Ni-Cu-Co-PGM magmatic sulfide system located 10 kilometers (km) north of Schreiber, Ontario. The Saturday Night project is a one km diameter, circular magnetic feature located 16 km west of Sunday Lake. Cryderman Gold property is located along the regionally significant and deep crustal Ridout Deformation Zone. The Aylmer IOCG project covers approximately 3,131 hectares encompassing 119 mining claims located northeast of the Sudbury Basin.