Transition Metals Corp (TSX-V:XTM) told investors it identified more high-grade polymetallic mineralized zones during recent exploration work on its Pike Wardon project near Whitehorse in Yukon.
With support from Archer, Cathro & Associates, the company said its exploration team collected a total of 116 rock samples, including grab and float samples, and 109 soil samples in July.
Remote sensing activities have also been completed, the Sudbury, Ontario-based explorer said in a statement.
Transition said it has identified four new showing areas, dubbed Artemis, Hyperion, Chronos and ERT West, bringing the number of mineralized showings on the property to 22.
Sampling returned values up to 954 grams per tonne (g/t) silver (Ag), 0.312 g/t gold (Au), 2.32% copper (Cu), 13.85% lead (Pb), 0.42% zinc (Zn), and 0.72% molybdenum (Mo) in zones of outcropping and scree mineralization.
"The latest assay results, which include values as high as 954 g/t Ag (silver),0.312 g/t Au (gold), and 2.32% Cu (copper) continue to reward the dedication of our team for its efforts in the Yukon,” commented Transition CEO Scott McLean.
“We are encouraged that the numerous mineralized zones identified to date are indicative of a large epithermal mineralizing event and look forward to advancing the project this year."
Transition noted that only the ERT Zone has been tested by a limited reverse circulation (RC) drill program while the Artemis, Hyperion and Chronos showings are new discoveries located in the previously unsampled northeastern portion of the property.
It said the recent sampling at ERT has greatly expanded the known footprint of silver mineralization exposed at surface in the target region, adding that the continued identification of new mineralization further demonstrates the significant potential of a much larger polymetallic epithermal mineralizing system on the property.
Results from the LiDAR and orthophotography survey are expected shortly and the company said it will review the data to enhance the interpretation of pertinent contacts and structural trends which have been shown to be related to the mineralizing system on the property.
Separately, it said post-processing and QA-QC from an alteration mapping program that collected multispectral data from the WorldView-3 satellite are currently underway, with the results expected in the coming weeks.
In all, the company said all the data sets will enhance its understanding of the controls on mineralization at the Pike Warden property and will assist it with refining priority targets for diamond drilling.
Results from sampling at the Artemis, Hyperion, Chronos and ERT West zones have encouraged it to undertake a follow-up sampling program on the property in the coming weeks, the company added.
Contact the author at stephen.gunnion@proactiveinvestors.com