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Transition Metals Reports Multi-Element Geochemical Anomalies on Its Jolly Gold Property

Dec 9, 2021

Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to announce results from an orientation Mobile Metal Ion (MMI) survey on its Jolly Gold property that covers the western extension of the prolific Beardmore-Geraldton Greenstone Belt (BGB) (Figure 1). The survey results highlight large, 300 m long, multi-element geochemical anomalies proximal to the Fat Beagle gold showing where channel sampling returned assays up to 146.5 g/t Au over 0.41 m, and 24.4 g/t Au over 0.61 m (see October 19th, 2021 news release). Additionally, 1.3 kilometres to the east, near historical Trench 2, 2020 grab sampling returned 3.96 g/t Au, 7.9 g/t Ag and 0.64% Cu (see November 24th, 2020 news release). 

CEO Scott McLean commented, "Overburden cover on the property is extensive and the known occurrences have only been exposed in the past by small amounts of mechanical stripping. The survey results are therefore instrumental in enhancing the prospectivity of the Property, which the Company interprets to cover the poorly-explored westward extension of the Beardmore-Geraldton Greenstone Belt. We are very encouraged to see detectable footprints of pathfinder elements around the known occurrences, which validates MMI sampling as a cost-effective exploration tool for exploration on this property. The next steps for the Jolly Gold project are expected to include a trenching program to validate the untested targets generated by the orientation MMI survey, which would be followed by a zonally staged property scale MMI survey starting over key areas of the property in search for further evidence of gold and base metals along the western extension of the BGB."

About the Jolly Gold Property

The property, which comprises an area of 4,560 hectares, covers an assemblage of meta-volcanic and meta-sedimentary rocks of the Eastern Wabigoon sub-province. It is bisected by the regionally-significant, northeast-trending Poshkokagan River Fault, and bound to the south by the northeast-trending Max Lake Fault. Gold deposits elsewhere in the BGB, such as the 4.6 Moz Hardrock deposit1under development by Greenstone Gold near Geraldton, are considered to be classic examples of epigenetic, non-stratiform, banded iron formation-hosted gold deposits. Other notable deposits within the BGB include the shear and basalt hosted Brookbank mine (0.6 Moz M&I)1, the turbiditic sandstone and quartz-carbonate vein hosted Sand River and Leitch Mines (past production of 0.9 Moz)2, the Northern Empire Mine, and Sturgeon River Mine.

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