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Three Northern Ontario projects moving Canadian Miner ahead

By Gregory Reynolds, Mining Life

Oct 29, 2017


Being active on three properties has produced some good news for Canadian Gold Miner (CGM).

It is a private company owned 65% by project generator Transition Metals Corp (XTM.V). Its properties are the 100 per cent owned West Matachewan Project located 25 km along the Cadillac-Larder Break west from Alamos Gold’s Young Davidson Mine, the Gowganda Gold project located 75 km southwest of Kirkland Lake, and the 100% owned Saturday Night Property consisting of staked mining claims encompassing a located 16 km west of the Sunday Lake discovery in Fowler Township, north of Thunder Bay.

All are located in Northern Ontario.

Results from a 1.23 tonne sample from West Matachewan of vein material returned a head grade of 240 grams gold per tonne (g/t Au) (7.66 troy ounces gold per tonne.

Previous assays of surface grab samples collected from the vein returned values up to 12,700 g/t (408 oz/t Au) and chip sampling completed across the vein in a number of locations returned results ranging from 0.20 g/t Au over 0.90 metres up to 2,060 g/t Au (66.2 oz Au/t) over 0.80 metres.

Canadian Gold Miner CEO Greg Collins summarized “We are pleased that a larger and more representative sample than had been previously collected returned such excellent grades at an occurrence situated so close to the Cadillac Larder Break. At this point, I will caution that the economic significance of the results remains poorly understood. Additional work is required to outline the full extent of mineralization associated with this showing and to determine if there is wider spread mineralization or other similar Bonanza-style occurrences elsewhere on the property.”

Sudbury, January 31, 2017 – Transition Metals Corp. (XTM – TSX.V) (“Transition” or “the Company”), is pleased to announce that drilling is now underway on. The objective of a drill program on the Gowganda Gold Project was to test high priority gold targets associated with mineralized and altered syenite and gold veins identified from surface trenching and previous drilling.

Then company CEO and president Scott McLean commented “We are pleased to be advancing this project in partnership with Aldershot Resources Ltd. The team has done a great job towards identifying some exciting gold targets. We look forward to results from this program as they become available.”

At the Saturday Night Property, the company has announce the discovery of a new platinum group metals (Pt+Pd+Au or PGM’s) enriched intrusion within the emerging Midcontinent Rift Ni-Cu-PGM Camp. The Saturday Night Intrusion (SNI) was discovered by a single, 601 metre drill hole (SN-16-001), drilled by the company that tested an 800 metre diameter magnetic target with similar characteristics to the company’s award winning Sunday Lake platinum discovery located 16 km to the east.

Assays from core samples returned 6.25 metres averaging 1.07g/t PGMs, including a higher grade section of 4.0 g/t PGM and 0.56% Cu over a core length of 0.30 metres near the interpreted base of a >200 metre thick sequence of earlyrift intrusive rocks.

Drilling confirmed that a magnetic anomaly is associated with a buried mafic-ultramafic intrusion interpreted to be Proterozoic in age and related to the Midcontinental Rift (MCR) based on lithological and geochemical observations.

The MCR is a 2,000 km long geological failed rift in the center of North America that formed when the North American craton, began to split apart about 1.1 billion years ago. Early phases (‘early-rift’) of mafic to ultramafic intrusive rocks, with high associated PGMs occur within the MCR.

Transition Metals is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into discoveries. The awardwinning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Rigorous fieldwork combining traditional and new techniques helps unearth compelling prospects and drill targets.

Transition uses the project generator business model to acquire and advance multiple exploration projects simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest in the projects by funding a portion of higher- risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder’s equity dilution.

The company has a portfolio that currently includes gold, copper, nickel and platinum projects primarily in Ontario, Nunavut and Saskatchewan.

Canadian Gold Miner is focused on exploring for gold in the Larder Lake Mining District near Kirkland Lake.

The company was founded by Transition to leverage its data, expertise and pipeline of exploration projects towards consolidating an extensive portfolio of high quality gold projects. CGM has assembled a dominant exploration land position in excess of 165 square km around the Cadillac Larder, Lincoln-Nipissing and Ridout Structures in the southwestern part of the prolific Abitibi Greenstone Belt in Ontario. The Abitibi is Canada’s most prolific gold district located in a stable political jurisdiction with excellent mining infrastructure in place.