Sudbury, May 25, 2015 – Sudbury Platinum Corporation (“SPC”)
and Transition Metals Corp. (XTM – TSX.V, “Transition”, “the Company”)
are pleased to announce the latest assay results from drilling completed at the company’s Aer-Kidd Project, near Sudbury Ontario. In March of 2015 the company disclosed results from the first three holes completed on the property, two of which included encouraging intersections of elevated copper, nickel and platinum group (Ni-Cu-PGM) mineralization (refer to news release dated March 2nd, 2015)
Scott McLean, P.Geo., CEO of SPC stated, “We continue to be encouraged by the precious metal content of the mineralized zones. We have now defined mineralized trends based on geology, geophysics and mineralization that highlights the further potential at depth. Pursuit of similar trends at depth at Totten and Victoria adjacent to the Aer-Kidd Property has resulted in two of the most significant discoveries in the Sudbury camp in recent years. Our plan moving forward is to pursue these corridors at depth where we feel that there is excellent blue sky exploration potential.
This release discloses assay results from three holes (Figure 1). AK-14-001B and AK-14-001C 001C were follow-up wedge holes further testing the mineralization intersected by AK-14-001A. AK-15-003 is a new hole which tested a conductive target located under the past producing Robinson Mine. To date, 9 holes totaling 6,158 metres have been completed with assay results pending for an additional three holes.
- AK-14-001B intersected 7.40 metres containing 0.33% Ni, 0.45% Cu and 2.27g/t PGM (Pt+Pd+Au) including 0.60 metres grading 0.33% Ni, 1.38% Cu, and 4.19g/t PGM approximately 30 metres up-dip and east of AK-14-001A.
- AK-14-001C intersected 18.0 metres containing 0.39% Ni, 0.59% Cu and 1.84g/t PGM including 4.0 metres grading 0.27% Ni, 1.13% Cu, and 4.73g/t PGM approximately 50 metres up-dip and east of AK-14-001B.
- AK-15-003 intersected 9.15 metres containing 0.67% Ni, 0.99% Cu and 1.46g/t PGM, 200m below the past producing Robinson Mine.
Please refer to the discussion of results section below and Figures 1 through 4 for additional information. If you are having difficulties viewing the figures please visit the Aer-Kidd Project section at www.sudburyplatinumcorp.com
or use the following link: SPC Press Release
to download the pdf version of this release.Table 1: Highlight Drill Intersections
Note: * All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space.Discussion of ResultsAK-14-001B (1,044m: wedge cut at 531 metres)
|Previously released March 2, 2015
: The hole intersected the Offset Dyke approximately 30 metres up-dip and east of the AK-14-001A intersection (8.10m @ 1.04% Ni, 0.75% Cu and 2.40g/t PGM – see March 2nd, 2015 release
) and intersected the Quartz Diorite (QD) dyke over a core length of 81.05 metres from 817.5-898.55 metres. Amphibolite-rich Quartz Diorite (AIQD) was intersected over a core length of 13.05 metres from 882.3-895.35 metres and contained widespread blebby Ni-Cu sulphide mineralization (up to 25%) in between large amphibolite fragments. Assay results returned a 7.40 metre zone of 0.33% Ni, 0.45% Cu and 2.27g/t PGM from 885.85-893.25 metres including a higher grade section of 0.33% Ni, 1.38% Cu and 4.18g/t PGM
over 0.60 metres from 892.65-893.25 metres. AK-14-001C (969m: wedge cut at 479 metres)
: The hole intersected the Offset Dyke approximately 50 metres up-dip and east of the AK-14-001B intersection and intersected the QD dyke over a core length of 79.65 metres from 786.1-865.75 metres. AIQD was intersected over a core length of 22.0 metres from 837.0-859.0 metres and contained widespread blebby sulphide mineralization as well as zones of semi-massive sulphides that wrap around large amphibolite fragments. Assay results returned a 18.0 metre zone of 0.39% Ni, 0.59% Cu and 1.84g/t PGM
from 836.0-854.0 metres including a higher grade section of 3.39% Ni, 0.36% Cu and 2.20g/t PGM
over 0.60 metres from 843.2-843.8 metres.
The longitudinal section (Figures 2, 3) illustrates the location of the QD intersection midpoints of AK-14-001B and AK-14-001C in relation to the historic drilling and the modelled electromagnetic (EM) targets. Follow-up borehole electromagnetic (BHEM) surveys in AK-14-001B and 001C indicates that the high conductivity area associated with the sulphide intersections continues up-dip and east of the current drilling. The results indicated additional mineralization associated with this zone remains favourable for further definition and expansion both up-dip and down-dip along this trend.AK-14-003 (801m: 295°/-77°)
: Designed to test an area of high conductivity and favorable geology approximately 200 metres down-dip of the historic Robinson Mine. The hole intersected the QD dyke over a core length of 115.25 metres from 516.9-632.15 metres. AIQD was encountered over a core length of 60.1 metres from 543.0-603.1 metres and contained widespread blebby sulphide mineralization (up to 25%) in between large amphibolite fragments. Assay results returned a 9.15 metre zone of 0.67% Ni, 0.99% Cu and 1.46g/t PGM
from 566.45-575.60 metres including a higher grade section of 1.11% Ni, 2.36% Cu and 2.92g/t PGM
over 1.45 metres from 568.55-570.0 metres. A BHEM survey was completed in hole AK-14-003 and defined a strong offhole conductor approximately 50m down-dip of the hole (refer to Figure 4) that has an orientation and position consistent with that of the down-plunge projection of the Robinson Mine. The results confirm that mineralization exists beneath the lowest underground workings of the Robinson mine and highlights the exploration potential of this trend at depth.Figure 1:
Plan Map of the Aer-Kidd PropertyFigure 2:
Longitudinal Section of the Aer-Kidd PropertyFigure 3:
Detailed longitudinal section of the AK-14-001B and 001C area Figure 4:
Detailed longitudinal section of the AK-15-003 area. (Robinson Mine Reserve estimate 1968-1969 Can. Mines Handbook)About the Aer-Kidd PropertyThe Aer-Kidd Property is located ~20 kilometres southwest of Sudbury, Ontario and covers a 1.4 kilometre section of the Worthington Offset Dyke in an area with a rich mining history, dating back to the 1800's. The property is approximately 2.6 kilometres along strike to the northeast of Vale's Totten Mine (10.1 million tonnes grading 1.5% Ni, 1.97% Cu, 4.8g/t PGM)¹ that is currently in production and 4.3 kilometres to the southwest and along trend of KGHM’s Victoria Project (14.5 million tonnes grading 2.5% Ni, 2.5% Cu, 7.6 g/t PGM)² which is currently being developed. The Aer-Kidd Property hosts the former producing Howland Pit, Robinson and Rosen Mines, which were small deposits mined down to a maximum depth of 300 metres
1 Resource reported by Inco; January 31, 2001 News Release
2 Resource reported by KGHM; January 16, 2012 News Release. Qualified Person
The technical elements of this news release have been approved by Mr. Grant Mourre, P.Geo (APGO), a Qualified Person under National Instrument 43-101. All samples were analyzed in Vancouver by ALS Chemex. Platinum, palladium and gold values were determined together using standard lead oxide collection fire assay and ICP-AES finish. Base metal values were determined using sodium peroxide fusion and ICP-AES finish. Silver values were determined using an aqua regia digestions and an AAS finish. A Certified Reference Material (CRM) standard, blank or duplicate is inserted on every 10th sample in the following order: CRM, blank, CRM, duplicate. The cycle repeats every 40 samples, thus ensuring that 10% of samples submitted are control samples. Laboratory checks are also done with one sample in every batch (max 40 samples) being submitted to an external lab for comparison.About Sudbury Platinum Corporation
Sudbury Platinum Corporation, a private corporation 48% owned by Transition Metals Corp (XTM –TSX-V), is a Canadian private corporation focused on exploring for nickel, copper and platinum group metals in the Sudbury region. The Company is exploring its key 100% owned Aer-Kidd Property, an advanced exploration property located on the prospective Worthington Offset Dyke, in the heart of the Sudbury mining camp and holds a 100% interest in the Owen Nickel Property. The Company vision is to become a mine developer in the Sudbury district. Additional information regarding the company and project can be found at www.sudburyplatinumcorp.comAbout Transition Metals Corp.
Transition Metals Corp. (XTM -TSX.V) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into Canadian discoveries. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps, and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the company to acquire properties inexpensively. The company has an expanding portfolio that currently includes 25+ gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, Northwest Territories, British Columbia, Saskatchewan and Minnesota. www.transitionmetalscorp.comCautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information is available at www.sudburyplatinumcorp.com or by contacting:
Chief Executive Officer
Sudbury Platinum Corporation
Tel: (705) 669-1777
Figure 1: Plan Map of the Aer-Kidd Property.
Figure 2: Longitudinal Section of the Aer-Kidd Property
Figure 3: Detailed longitudinal section of the AK-14-001B and 001C area. Section orientated SW-NE (looking NW).
Figure 4: Detailed longitudinal section of the AK-15-003 area. Section orientated SW-NE (looking NW).