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Bonanza-Grade gold showing for Transition Metals' Gowganda Property

Oct 4, 2021

Transition Metals Corp has announced results from the initial prospecting and sampling program on the newly acquired claims forming part of the Gowganda Gold project. Recent results from grab samples returned high-grade, gold analyses of 18.6-269.0 g/t gold (Au) from one showing and the discovery of four new copper (Cu) showings ranging from 0.24-2.30% Cu.

During the reconnaissance sampling and prospecting program, a total of 35 grab samples were collected over areas of the newly acquired claims (see Figure 2). This gold showing may be related to the gold mineralization discovered by Transition Metals in Haultain Township to the east, hosted in altered syenite dykes and shears developed in Archean greenstone. The current interpretation suggests that it is a sinistrally (left-handed) offset extension of the Haultain mineralization. The lithologies associated with the Haultain mineralization can be traced to the east and correlate with the units hosting the gold mineralization recently discovered by Canada Cobalt Works in the Castle East - Robinson zone (Figure 2).

CEO Scott McLean, commented, "Chalcopyrite is a common sulphide mineral in the veins of the Gowganda silver camp and minor copper production was reported by the largest producer of the area, the Miller Lake O'Brien Mine1. The anomalous copper values from the recent sampling are currently interpreted to be related to the Gowganda veins but additional work is required to better understand the nature of the copper mineralization and if there is relationship between the veins and the gold mineralization. However, the identification of high-grade-grade gold mineralization on the west side of the Transition property, in combination with the recent discovery of gold mineralization to the east of the Transition Haultain gold showing by Canada Cobalt Works, suggests the potential for a more substantial zone of gold mineralization than previously interpreted. This gold mineralization is located within the southwest portion of the prolific Abitibi greenstone belt which extends through the adjacent Shining Tree gold camp and to the west into the Swayze greenstone belt. We feel that there is the potential for gold mineralization that should be of interest to major gold producers looking for new opportunities."


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