- Transition Metals (XTM) has launched a field work program at its wholly owned Wollaston Copper Project in north central Saskatchewan
- The company intends to conduct property-wide geochemical sampling, as well as geological mapping and sampling at outcropping areas
- This work will be focused on identifying similar structures of mineralisation to that of the nearby Janice Lake Project
- North central Saskatchewan has seen a surge in activity, with a number of notable companies currently engaged in exploration work in the region
- Transition Metals (XTM) is currently steady and is trading at C$0.18 per share
Transition Metals (XTM) has launched a field work program at its wholly owned Wollaston Copper Project in Saskatchewan.
The project covers approximately 150 square kilometres of mining claims and sits roughly 60 kilometres southwest and along strike of the Janice Lake Project, which is currently being explored by Rio Tinto Exploration Canada and Forum Energy metals.
Forum Energy Metals acquired the Janice Lake Project from Transition Metals under an option agreement, part of which was then optioned to Rio Tinto.
Rio Tinto is now carrying out an extensive program of geological mapping, geophysics and drilling at the project, as well as the construction of a 50-person camp.
Previous drilling activities carried out by Noranda at the Wollaston Copper Project in 1994 returned high grades and mineralisation thicknesses similar to that at the Janice Lake Project, including 0.48 per cent copper over 8.6 metres.
Now, Transition Metals intends to undertake a property-wide geochemical sampling campaign, along with in-depth geological mapping and sampling of outcropping areas which are thought to be prospective for sedimentary-hosted mineralisation.
This work is focused on identifying similar structures of mineralisation to those that occur along strike at the Janice Lake Project.
Scott McLean, President and CEO of Transition Metals, noted that with the aggressive work being carried out in the region by Rio Tinto and Forum, north central Saskatchewan is carving a new name as a promising copper district.
“Our team has identified that the mineralising processes associated with the deposits at Janice Lake justified a comprehensive review of the surrounding region to identify additional mineralising environments.
“We think that the copper occurrences in the Wollaston Copper project area may have a similar genesis to those at Janice Lake and are looking forward to testing this concept,” he said.
Transition Metals (XTM) is currently steady at C$0.18 per share at 10:10am EDT.