SUDBURY, ON, March 5, 2018 /CNW/ - Sudbury Platinum
Corporation ("SPC") and Transition Metals Corp. (XTM –
TSX.V, "Transition", "the Company") are pleased to
provide a project update and to announce assay results from fall
drilling completed at the company's Aer-Kidd Project, near
Sudbury Ontario. During a period
from November to December the company completed eight holes for a
total of 1,371m designed to evaluate
the up-dip and down-dip potential of the past-producing Rosen and
Robinson Mines which are located on
the property adjacent to Vale's producing Totten mine. SPC is
a private company that is 36% owned by Transition.
Highlights:
- AK-17-020 intersected 12.35m
containing 0.91% Ni, 0.28% Cu, 0.03% Co and 0.80g/t PGM
(Pt+Pd+Au) from 70.55-82.90m
including a higher grade section of 2.05% Ni, 0.17% Cu, 0.05% Co
and 1.03g/t PGM over 2.60m
immediately up-dip of the past producing Rosen Mine.
- Borehole Geophysics in AK-17-025, testing down-dip of the past
producing Robinson Mine, indicate strong previously untested
offhole EM conductors proximal to areas of known historic
high-grade Ni-Cu mineralization (U9-E2: 28.7m @ 1.48% Ni, 0.61% Cu4).
Scott McLean, P.Geo., CEO of SPC
stated, The near surface mineralization that includes
significant intercepts of PGM's and cobalt is encouraging and
demonstrates that we are continuing to explore a highly prospective
part of the Sudbury Igneous Complex. The property remains
wide open at depths where drilling on the adjacent properties has
discovered world class deposits at Totten and Victoria."
This release only discloses assay results from two holes,
AK-17-018 and AK-17-020, completed during the previously mentioned
winter drill program. The remaining assays are pending. Figure 1 is
a long section of the property looking northwest that includes the
pierce points of recent drilling.
Table 1: Highlight Drill Intersections
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Ni
wt.%
|
Cu
wt.%
|
Co
wt.%
|
Pt
g/t
|
Pd
g/t
|
Au
g/t
|
Ag
g/t
|
PGM
g/t
|
AK-17-018
|
7.90
|
8.35
|
0.45
|
1.79
|
0.29
|
0.03
|
0.53
|
0.15
|
0.08
|
4.50
|
0.76
|
and
|
10.60
|
14.40
|
3.80
|
0.59
|
1.09
|
0.02
|
0.73
|
0.25
|
0.10
|
7.98
|
1.08
|
and
|
83.80
|
84.00
|
0.20
|
2.11
|
0.05
|
0.11
|
1.06
|
0.91
|
0.41
|
1.80
|
2.38
|
AK-17-020
|
70.55
|
82.90
|
12.35
|
0.91
|
0.28
|
0.03
|
0.46
|
0.23
|
0.11
|
1.97
|
0.80
|
including
|
70.55
|
73.90
|
3.35
|
1.17
|
0.41
|
0.03
|
0.28
|
0.07
|
0.04
|
2.54
|
0.39
|
including
|
80.30
|
82.90
|
2.60
|
2.05
|
0.17
|
0.05
|
0.64
|
0.26
|
0.13
|
1.58
|
1.03
|
including
|
81.15
|
81.50
|
0.35
|
5.22
|
0.04
|
0.11
|
0.57
|
0.09
|
0.02
|
1.40
|
0.68
|
Note:
|
* All
intercepts reported are down hole lengths, not true thicknesses.
Insufficient drilling has been completed to date to define the
orientation of the mineralized zone in space.
|
Table 2: Drill Hole Orientation Data
Hole
|
Area
|
Easting*
|
Northing*
|
Length
(m)
|
Azimuth
|
Dip
|
AK-17-018
|
Rosen Mine
|
467,174
|
5,138,321
|
99.3
|
170°
|
-85°
|
AK-17-019
|
Rosen Mine
|
467,174
|
5,138,321
|
138.0
|
164°
|
-75°
|
AK-17-020
|
Rosen Mine
|
467,160
|
5,138,316
|
129.0
|
160°
|
-85°
|
AK-17-021
|
Rosen Mine
|
467,142
|
5,138,304
|
70.0
|
144°
|
-84°
|
AK-17-022
|
Rosen Mine
|
467,160
|
5,138,297
|
46.0
|
150°
|
-88°
|
AK-17-023
|
Rosen Mine
|
467,143
|
5,138,277
|
71.7
|
60°
|
-89°
|
AK-17-024
|
Robinson
Mine
|
466,798
|
5,138,110
|
136.0
|
172°
|
-76°
|
AK-17-025
|
Robinson
Mine
|
466,798
|
5,138,110
|
681.0
|
160°
|
-79°
|
Note:
|
* Coordinate system
is NAD 83 Zone 17. Hole AK-17-024 was abandoned at 136m due to
excessive deviation.
|
Discussion of Results
Aer-Kidd Property
Located within the SW corner of the prolific Sudbury Basin the Aer-Kidd Property consists
of a 1.4 km section of the Worthington Offset Dyke (WOD). The WOD
hosts several high-grade Ni-Cu-PGM deposits including Vale's Totten
Mine (10.1Mt @ 1.5% Ni, 1.97% Cu, 4.8g/t PGM)¹ located 1.8
km NE of the Aer-Kidd Property and KGHM's Victoria Project
(14.5Mt @ 2.5% Ni, 2.5% Cu, 7.6 g/t PGM)² located 3.0 km NW
of the Aer-Kidd Property. On the property the WOD consists of a
NW-SE trending, steeply dipping composite dyke ranging in width
from 40 to 70m. The dyke displays a
distinct zonation in both inclusion and sulphide contents from the
margin to the core of the dyke.
Locally, the dyke contains a core of inclusion-rich quartz
diorite (IQD), which can be choked with inclusions surrounded by
high-grade semi-massive to massive sulphide mineralization. The
orebodies within the WOD are primarily hosted within discontinuous
phases of the IQD that contains 10 to 80 percent amphibolite
inclusions (AIQD) that can range in size from less than 10cm to
greater than 10m in diameter. Zones
of AIQD form discontinuous lenses within the center of the dyke
that can range in size from a few 10's of metres up to 100's of
metres in length and width while the vertical extents of these
zones can be greater than 1,000 metres.
Past Production
The Aer-Kidd Property hosts three past producing Ni-Cu-PGM
mines, the Howland Pit, Robinson Mine and the Rosen Mine all of
which are associated with pipe-like zones of AIQD. The Howland Pit
was a small open pit operation that was discovered in 1884 and
produce <1,000 tons of high-grade ore. The Robinson and Rosen
Mines were discovered in the late 1880's and were eventually put
into production in 1966. Pre-production reserves at Robinson were
estimated at 497,744 tons3 grading 0.62% Ni, 0.71% Cu
(above the 800ft level) while at Rosen the reserves were estimated
at 274,5603 tons at a similar grade. Production lasted
for three years period from 1966 to 1968 during which an estimated
462,743 tons3 of ore were hoisted from the two deposits
with the bulk coming from the Robinson Mine.
Work to date
Since 2014, SPC has completed 18,768m of drilling in 27 holes testing the
property for geological environments similar to those that hosted
the Robinson and Rosen Mines. The majority of the drilling has
focused on testing the deep (>1,000m) down-dip potential of the Howland,
Robinson and Rosen mineral trends, focusing on areas of known or
interpreted AIQD, borehole geophysical anomalies and known historic
drill intersections. Drilling to date has identified three new
areas of massive sulphide mineralization up-dip and down-dip of the
past producing Howland, Robinson and Rosen Mines, as well, detailed
3-D geological modeling has identified three additional
high-priority target areas requiring further exploration.
Howland Trend
(down-dip)
Initial drilling was done to test a strong BHEM conductor that
was identified in 2013 as part of the extensive BHEM program that
was completed across the property (see January 16th, 2014 News Release).
Initial drilling intersected high-grade mineralization (see
March 2nd, 2015 News
Release) within a thick and extensive zone of AIQD. Highlights
include AK-14-001A that intersected 8.1m @ 1.04% Ni, 0.75%Cu, 0.05% Co and 2.4g/t PGM
from 900.8-908.9m including a higher
grade section of 2.47% Ni, 2.47% Cu, 0.12% Co and 10.18g/t PGM over
1.65m. Drilling has outlined a
250m by 500m area of well-developed and extensive AIQD
containing numerous sulphide intersections as well many untested or
partially tested EM conductors that SPC feels remains to be fully
evaluated.
Robinson Mine (down-dip)
Area was initially targeted to test for a potential down-dip
extension to the Robinson Mine. Historic drilling completed by Kidd
Copper in 1968 returned 1.46% Ni, 0.61% Cu over 28.7m (U9-E2)4 approximately
150m beneath the 950ft level of the
Robinson Mine while Crowflight Minerals Inc. reported 1.42% Ni,
0.62%Cu and 1.76g/t PGM over 8.27m
(W03-03AW1)5 approximately 500m beneath the 950ft level. In 2015, SPC
further tested this area with AK-15-003 and intersected 0.67% Ni,
0.99% Cu, 0.02% Co and 1.46g/t PGM over 9.15m (see May
25th, 2015 News Release). Mineralization within
this area occurs as either Cu-rich disseminated to blebby
sulphides, as in AK-15-003, or as massive sulphides associated with
well-developed zones of AIQD, such as in W03-03AW1. Borehole
geophysical surveys in the area have identified several
high-conductivity anomalies that remain to be tested. As part of
the 2017 winter drill program, SPC completed hole AK-17-025 that
was collared within the footwall to the Robinson Mine and was
designed to be a geophysical platform hole down to a vertical depth
of 600m. The results of survey
indicate a strong offhole anomaly 25 to 50m down-dip of the intersections in hole U9-E2
and AK-15-003. Drilling has outlined a 200m by 600m area
extending from the base of the Robinson Mine of well-developed and
extensive AIQD containing numerous sulphide intersections as well
many untested or partially tested EM conductors that SPC feels
remains to be fully evaluated.
Rosen Mine
Historical documents indicated that at the time of development
(1966) the Rosen Mine was estimated to of contained 274,560 tons of
ore grading 0.62% Ni and 0.71% Cu (above 200m vertical). From 1967 to 1969 an undisclosed
amount ore was extracted from the Rosen Mine on two main levels
(350 and 650ft levels) and one sub-level (500ft level). After a
detailed review of the available mine sections and plans SPC
concluded that the bulk of the ore produced on the Aer-Kidd
Property came from the Robinson Mine and therefore potential
existed for ore to remain in the ground at the former Rosen Mine.
In the winter of 2017, SPC drilled 554m in six holes to test for a possibly up-dip
extension of the Rosen Mine as well as to assess the overall
potential of the past-producing Rosen Mine. Highlights of the
program include AK-17-020 that intersected 12.35m containing 0.91% Ni, 0.28% Cu, 0.03% Co
and 0.80g/t PGM (Pt+Pd+Au) from 70.55-82.90m including a higher grade section of
2.05% Ni, 0.17% Cu, 0.05% Co and 1.03g/t PGM over
2.60m. Mineralization occurred as
massive and semi-massive sulphides within a 23.0m thick zone of AQID that contained >50%
inclusions ranging in size from 0.2 to 2.55m in diameter. All of the remaining holes not
reported intersected smaller (typically <1m in core length) zone of massive and
semi-massive sulphides. SPC feels that the initial drill results
up-dip of the Rosen Mine are positive and that further work should
be completed to fully evaluate the potential of the
area.
Exploration Potential
Following a reinterpretation of the Aer-Kidd geological data,
SPC has identified three high-priority target areas between 750 and
2,000m vertical that are interpreted
to represent the deep down-dip extensions of the Howland, Robinson
and Rosen mineralized AIQD trends. A newly recognized NW-SE trend
SW dipping normal fault has been interpreted to of offset the
shallower portions of the AIQD trends by as much as 300 to
400m resulting in a repositioning of
the down-dip extensions of the Howland, Robinson and Rosen trends.
SPC intends on exploring these areas with diamond drilling and
borehole EM surveys.
|
References
|
|
1
|
Resource reported
by Inco; January 31, 2001 News Release.
|
|
2
|
Resource reported
by KGHM; January 16, 2012 News Release.
|
|
3
|
Robinson and Rosen
Mine Reserve Estimate; 1968-1969 Can. Mines
Handbook.
|
|
4
|
'Kidd Copper
Suspension Lasted One Week'; Northern Miner Article, January 4,
1968, No 41, pg14.
|
|
5
|
Crowflight
Minerals Inc.; February 05, 2004 News
Release.
|
Qualified Person
The technical elements of this news release have been approved
by Mr. Grant Mourre, P.Geo (APGO), a
Qualified Person under National Instrument 43-101. All samples were
analyzed in Vancouver by ALS
Chemex. Platinum, palladium and gold values were determined
together using standard lead oxide collection fire assay and
ICP-AES finish. Base metal values were determined using sodium
peroxide fusion and ICP-AES finish. Silver values were determined
using an aqua regia digestions and an AAS finish. A Certified
Reference Material (CRM) standard, blank or duplicate is inserted
on every 10th sample in the following order: CRM, blank, CRM,
duplicate. The cycle repeats every 40 samples, thus ensuring that
10% of samples submitted are control samples. Laboratory checks are
also done with one sample in every batch (max 40 samples) being
submitted to an external lab for comparison.
About Sudbury Platinum Corporation
Sudbury Platinum Corporation, a private corporation 36% owned by
Transition Metals Corp (XTM –TSX-V), is a Canadian private
corporation focused on exploring for Ni-Cu-PGM in the Sudbury region. The Company is exploring its
key 100% owned Aer-Kidd Property, an advanced exploration property
located on the prospective Worthington Offset Dyke, in the heart of
the Sudbury mining camp and holds
a 100% interest in the Owen Nickel Property. The Company vision is
to become a mine developer in the Sudbury district. Additional information
regarding the company and project can be found at
www.sudburyplatinumcorp.com
About Transition Metals Corp.
Transition Metals Corp (XTM -TSX.V) is a Canadian-based,
multi-commodity project generator that specializes in converting
new exploration ideas into Canadian discoveries. The award-winning
team of geoscientists has extensive exploration experience in
established, emerging and historic mining camps, and actively
develops and tests new ideas for discovering mineralization in
places that others have not looked, which often allows the company
to acquire properties inexpensively. The team is rigorous in its
fieldwork, and combines traditional techniques with newer ones to
help 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, which went public in 2011, has an expanding portfolio that
currently includes >25 gold, copper, nickel and platinum
projects primarily in Ontario,
Nunavut and Saskatchewan.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this news release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
estimated capital and operating costs, expected production
timeline, benefits of updated development plans, foreign exchange
assumptions and regulatory approvals. There can be no assurance
that such statements will prove to be accurate; actual results and
future events could differ materially from such statements. Factors
that could cause actual results to differ materially include, among
others, metal prices, competition, risks inherent in the mining
industry, and regulatory risks. Most of these factors are outside
the control of the Company. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the
Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Sudbury Platinum Corporation