Transition Metals Corp. has expanded its Gowganda Gold Project to approximately 125 square kilometres through recent claim staking along the Ridout-Tyrrell Deformation Zone and the acquisition of two properties within the Miller Lake basin.
The project, located beside Gowganda, Ontario, now provides near-continuous coverage of approximately 20 kilometres of strike along a major east-west structure believed to be an extension of the Ridout-Tyrrell Deformation Zone. The expanded property spans the interface between the Shining Tree gold camp and historic Gowganda silver camp.
Approximately 18 square kilometres of claims were staked to expand the property westward toward McFarlane Lake Mining’s Juby project. Two additional properties totalling approximately five square kilometres were acquired within the Miller Lake basin. Transition Metals Corp. holds options to acquire 100% interests in these properties through payments of $5,000 and $20,000 respectively. Each is subject to a 2% net smelter return royalty if the options are completed, with half of each royalty purchasable for $1 million.
The company continues its summer exploration program, including trenching, sampling and soil geochemistry ahead of planned fall drilling.
The Gowganda Gold Project remains open along strike and at depth, with previous work identifying gold and silver-cobalt mineralization across the property.