Metals

Transition Metals Corp intersects bonanza silver mineralization in shallow RC drilling at Pike Warden property’s ERT Zone

Transition Metals Corp (TSX-V:XTM) told investors it is “very encouraged” by results from a shallow reverse circulation (RC) drilling program at the ERT Zone of its Pike Warden gold-silver-copper property southwest of Whitehorse in Yukon. 

The Sudbury, Ontario-based multi-commodity project generator said in the first drilling program to ever be completed on the large and prospective property, three track-mounted percussion RC drill holes totalling 204.2 metres, completed in October 2022, tested the down-dip extent of sub-cropping mineralization at the ERT Zone.

“The ERT Zone is only one of 18 identified mineralized zones discovered to date on the property which are located near the margins of the Bennett Lake Volcanic Complex,” Transition CEO Scott McLean said in a statement. “We think that this cluster of mineralization is part of a much larger epithermal mineralizing system.”

READ: Transition Metals intersects nickel, copper and cobalt in fall drilling program

The company noted that previously disclosed chip sampling of this zone returned a length weighted average of 42 metres (m) grading 64.28 grams per ton (g/t) silver equivalent (AgEq), including 7.8m grading 170.63 g/t AgEq, 0.7m grading 539.72 g/t, and 0.4m grading 563.97 g/t AgEq.

Highlights of the latest program include:

  • 16.76m grading 93.95 g/t AgEq including 1.5m grading 482.95 g/t AgEq in hole 22-PW-01;
  • 21.34m grading 104.64 g/t AgEq including 1.5m grading 399.10 g/t AgEq in hole 22-PW-02; and 
  • 12.19m grading 52.96 g/t AgEq including 1.5m grading 229.7 g/t AgEq in hole 22-PW-03.

Transition said the holes intersected two sub-parallel zones of high-grade silver mineralization which dip steeply to the south (070°/65°) and are hosted within a broad zone of altered brecciated and flow-banded felsic to intermediate volcaniclastic rocks associated with the Bennett Lake Volcanic Complex (BLVC). 

The mineralization consists of diffuse, fine-grained, black to sooty, replacement style silver-bearing sulphosalts and sulphides associated with shear zones within a larger pyritic envelope. All three holes intersected significant values of silver near surface with highlighted length-weighted interval. 

Located 10 kilometres (km) to the north in a similar geologic environment, Transition said the Skukum Creek Gold-Silver Deposit is estimated to contain an Indicated Mineral Resource of 1,001,300 tonnes at 7.75 g/t gold equivalent (AuEq) and an additional Inferred Mineral Resource of 537,000 tonnes at 6.22 g/t AuEq. 

Earlier work 

The company noted that work completed on the property by Optionor between 2019 and 2021 identified multiple new showings associated with the BLVC dykes and associated structures. Mineralization tends to be concentrated near the intersection of northeast and east-west-trending structures. High silver, gold, copper, molybdenum, and lead values in quartz veins suggest an intermediate to high sulfidation setting, it added.

The ERT Zone is one of 18 historic and recently discovered high-grade polymetallic silver, gold, and copper epithermal showings on the property. It was first documented in the 1980s as an 800m-long soil anomaly in a predominantly scree-covered slope. The Zone is partially exposed at surface over an approximately 50m by 50m area in the saddle of a large, steep sloped exposure of altered and mineralized BLVC volcanics. Sampling of the exposure returned up to 1,215 g/t silver (Ag) in grabs within 42m grading 53.40 g/t Ag.

Transition said the recent drilling has confirmed the presence of two zones, returning 21.34m grading 91.43 g/t Ag in 22-PW-02, and 12.19m grading 52.96 g/t silver equivalent (AgEq) including 1.5m grading 229.7 g/t AgEq in hole 22-PW-03. 

The zones are focussed within parallel steeply dipping (070/65°) shear zones hosted within a more broadly altered and mineralized sequence of volcanics and are situated approximately 70m south of an interpreted structure, separating Jurassic-aged Whitehorse group granodiorites to the north from the Eocene-aged BLVC felsic to intermediate volcanic tuffs and flow breccias to the south.

The Pike Warden property is located approximately 65 km southwest of Whitehorse, Yukon, and is composed of 185 contiguous mining claims totaling approximately 37 square km. 

Transition Metals Corp is a Canadian multi-commodity project generator that converts new exploration ideas into discoveries.

Contact the author at stephen.gunnion@proactiveinvestors.com

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