Transition Metals (TSXV: XTM) has staked two new properties, collectively covering 15,144 hectares in northern Saskatchewan's Wollaston Basin Copper Belt.
In a press release, the miner said that the Fannon and Tosi properties are located approximately 100 kilometres south of Key Lake and about 30 and 85 kilometres, respectively, southwest along trend with the company's Janice Lake property that is currently under option.
Historical drill assays from FN-94-1 at Fannon returned between 0.33% Cu and 0.74% Cu over widths of 0.5 to 1.5 m metres for a weighted average of 0.48% Cu over 8.6 metres"The new claims were staked to cover known copper showings and on-strike equivalents that are interpreted to have potential to host sedimentary-hosted copper mineralization similar to that at Janice Lake," the media brief states.
Transition said the Fannon property is underlain by northeast-trending, quartzofeldspathic paragneisses with subordinate amphibolite-bearing pelites, quartzites, and feldspathic quartzites. The Tosi property, on the other hand, is underlain by northeast-trending biotite and garnet-biotite pelitic gneisses with minor intercalated quartzites.
"We view the Wollaston Basin as an important emerging copper district. The good work of the Saskatchewan Government identifying the potential of the belt led Transition to originally stake Janice Lake and initiate exploration in the belt," Scott McLean, president and CEO of the Sudbury-based company said in the media statement. "Recent drill results by Forum demonstrates the significant discovery opportunity which resulted in RTEC's new investment in the district. We look to further evaluating our new properties with the perspective of attracting new investment to the area."