Transition Metals Corp (TSX-V:XTM) told investors that first drilling was about to take place at the Pike Warden property in the Yukon.
A reverse circulation (RC) drill rig is set to complete three holes to further evaluate the extent and vertical continuity of mineralization, which was identified this summer at the ERT zone.
Here, hand trenching had returned 42 metres (m) grading 64.28 grams per ton (g/t) silver-equivalent (Ag Eq). That included an intercept of 7.80m grading 170.63 g/t Ag Eq with a higher grade interval of 0.7m at 539.72 g/t.
"This is the very first drilling to be completed on this large and prospective project," said CEO Scott McLean in a statement.
"RC drilling at the ERT zone is an initial step towards evaluating the economic potential on a property with multiple attractive surface showings that we feel has the potential to host large scale epithermal Au-Ag and/or porphyry copper deposits."
READ: Transition Metals confirms multiple zones of high-grade silver and gold mineralization from surface sampling at Pike Warden property
The planned drilling is being carried out by Subterra Exploration Ltd assisted by Archer Cathro and will see three holes from a track mounted percussion RC drill for a total of between 150m and 300m.
Project generator Transition said the Pike Warden project sits around 70 kilometres (km) southwest of Whitehorse, Yukon, and comprises 185 contiguous mining claims totaling around 37km.
The property includes a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are potentially indicative of a large epithermal-porphyry system.
Transition Metals Corp (TSX-V:XTM) says it is a Canadian-based, multi-commodity project generator that converts new exploration ideas into discoveries.
Contact the writer at giles@proactiveinvestors.com