The property consists of 106 contiguous mining claims, two mining leases and five patents totalling approximately 825 hectares. The property encompasses historic high-grade polymetallic gold (Au), copper (Cu), and silver (Ag) showings; where grab samples collected by the Company in 2017 returned high-grade assays of 25.1 g/t Au and 158 g/t Ag at the A1 zone as well as 3.42 g/t Au, 1,295 g/t Ag and 4.81% Cu at the Galena showing.
CEO
About the Agreement
Transition retains the option to earn a 100% interest in the property by issuing
About the Sawmill Gold Property
The Property is underlain primarily by mafic and felsic volcanics of the eastern Archean Benny greenstone belt that is unconformably overlain to the northeast by sediments of the Proterozoic Huronian Supergroup. Mineralization hosted within the Archean rocks is associated with quartz-carbonate veins in fractures and shears with biotite-chlorite-silica alteration. Mineralization hosted within the Proterozoic rocks is associated with stockwork quartz veins, brecciation of the sediments, and intense carbonatization. The alteration and brecciation of the Proterozoic sediments has similarities to a late stage IOCG-type mineralization adjacent to an area of Archean lode gold style mineralization.
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.
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