Transition Metals – Sunday Lake PGM Discovery

Sunday Lake

Emerging Platinum discovery in the MCR Region, Ontario

Summary
  • Discovery made in 2013 as a product of a 5 year strategic exploration alliance with Impala Platinum Limited (Implats), the world’s second largest platinum producer to explore for platinum rich nickel-copper-platinum group metals (PGM) in Mid-continental Rift mafic-ultramafic intrusions in the Thunder Bay Area.
  • In January of 2014 the company announced a discovery hole intersecting 20.2 metres grading 3.22 g/t combined PGMs. In April of 2014, Transition and Implats were awarded the Bernie Schneider’s Northwestern Ontario Discovery of the Year Award in recognition for this discovery.
  • The Sunday Lake Project is Joint Venture owned 75% by Implats and 25% by Transition Metals. Under the terms of the Joint Venture, Implats is to provide all funding until the completion of a bankable feasibility study.
  • The project is located in north-western Ontario, 25 kilometres north-east of Thunder Bay accessible by all season roads and consists of approximately 26 km² of staked and options claims and privately owned land.
  • It is located approximately 100 kilometres south by road from Canada’s only active PGM focused mining operation, the Lac des Iles Mine, owned by North American Palladium Ltd which produced 174,194 oz of palladium (Pd) by mining 2,637,023 tonnes grading 2.6 g/t Pd in 2014.
  • Sunday Lake has a similar depositional setting to Panoramic Resources’ Thunder Bay North (Current Lake) deposit (9.83 Mt @ 2.87 g/t Pt-Eq for 0.741 Moz Pt-Eq (Indicated) + 0.53 Mt @ 2.87 g/t Pt-Eq for 0.05 Moz Pt-Eq (Inferred) which is located approximately 25 kilometers to the east of Sunday Lake