Transition Metals almost doubles Janice lake copper project area
Canadian gold and copper miner Transition Metals (TSX.V:XTM) announced Wednesday it has expanded the size of its 100% owned Janice Lake project, in Northen Saskatchewan.
The property, located approximately 55 km southeast of Key Lake, now includes 11,684 ha (117 km2) up from the original 6,880 as per March last year.
CEO Scott McLean said the additional land was staked in December after a study that showed the geological environment that hosts the mineral occurrences at Janice Lake extends to the northeast and southwest of the property. This means, said McLean, that there is potential to discover additional sedimentary-hosted copper and silver mineralization in the underexplored area.
In September last year, the executive told MINING.com the acquisition of the Janice property was probably “one of the more exciting things” the company has done recently, as the project has been worked historically by various miners and hosts important mineralization.
That property is home to about 20 different copper zones that have some drilling associated with them, and the drilling returns great thicknesses of mineralization.
For 2013 Transition has developed a $2 million exploration plan, which includes additional compilation, mapping, ground geophysics, soil geochemistry and drilling.