Transition Metals' Sunday Lake Project Could Be the Next Big PGM Discovery
Toronto, Ontario--(Newsfile Corp. - June 11, 2019) - HeroStocks.ca, an online source of investor-focused news and educational content on topics within the cannabis, tech and resource sectors, announces the publication of an article covering Transition Metals' Sunday Lake project and what could be the next big platinum group metals (PGM) discovery.
Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into Canadian discoveries
Commenting on the results, Transition Metals' President and CEO Scott McLean, P.Geo. stated, "We've had tremendous exploration success at Sunday Lake since drilling the discovery hole in 2013. These latest drill results provided by Option Partner North American Palladium ("NAP"), are the best reported to date, and comparable in overall grade to what is currently being mined by NAP at its nearby Lac Des Illes mine and mill complex only 60 km away."
The Sunday Lake Project is a joint venture between Impala Platinum Holdings Limited (Implats) and Transition Metals. North American Palladium holds an option to earn up to a 75% interest in Sunday Lake from Impala Platinum Holdings Limited and Transition Metals Corp holds a 25% free carried interest through to the completion of a Feasibility Study.
Drill-result highlights:
- Hole SL-19-026 returned 41.20m @ 5.51 g/t PGM (Pt+Pd+Au) and 0.57% Cu including a high-grade section of 15.80m @ 9.11 g/t PGM and 0.88% Cu.
- Hole SL-19-29: 61.00m @ 2.20 g/t PGM including 8.17m @ 5.44 g/t PGM.
- Numerous high-quality targets remain to be tested.
Results are sourced from a news release dated April 29, 2019. Please refer to that release for the full information regarding the drill program.
Over the years, platinum and palladium have been used in automotive catalytic converters, medical equipment, and fine jewellery. But lately there's a new and growing platinum demand for use in hydrogen fuel cells. Platinum is used as a catalyst in fuel cells to enhance the rate of the chemical reaction of hydrogen with oxygen. This process produces electricity and clean water. That makes platinum a key component in hydrogen fuel cell vehicles (FCVs). Platinum demand is set to grow sharply in the 2020s according to industry data and forecasts as technological and legislative drivers have aligned to make the hydrogen economy viable today.
Mr. McLean continued: "NASA has long used fuel cells to power satellites and other space missions. Today, we're beginning to see the technology used in cars and buses. It's clear our dependence on fossil fuels needs to change. The future renewable economy heavily depends on how we can efficiently split water to generate hydrogen, and platinum will play a huge role in this."
Please read the full article here.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45505