Sunday Lake Project Close To Thunder Bay
by Scott A. Sumner
Transition Metals Corp President & CEO Scott McLean is excited about a new project for their company- Sunday Lake. Sunday Lake is located about 40 kilometers north of Thunder Bay just off the Armstrong highway. Transition Metals is based in Sudbury with an office in Thunder Bay.
“ We have 24 projects across Canada and one in Minnesota with a total of about 2000 square kilometers of property. We bundle those into 5 different districts, one of those areas is in Thunder Bay centered around our new discovery called Sunday Lake,” said Scott Mclean. “ The main focus there is nickel, copper and most importantly in this development, platinum and palladium elements. Our company is built around 8 geoscientists that generate and operate projects. In Thunder Bay we have two resident geoscientists.” Transition Metals picked up the Sunday project last spring, did some prospecting in the summer and started up the drilling in the fall. On hole 2 they intercepted 20 meters of over 3 grams of platinum. The property is on logging roads and bush roads.
“ We only have four holes so far but are encouraged. It is a bit of a treasure hunt but we use a lot of sophisticated methods and techniques that helps us to increase those odds significantly. We are looking for specific minerals.” said McLean. “ We are really at the discovery stage and it can progress or go flat quickly. If it continues to be interesting we will carry on drilling. The exploration stage can take a few years if we continue to get valuable results. At the end of the exploration stage we have a good understanding of the minerals. A long way out is the feasibility stage after we understand the size, grade and continuity of the mineral. You then can begin to understand the economics of the project- how we are going to mine it, how we would mill it and then transport it, all those important questions.”
Transition Metals have been around since 2008 and focused on exploration. A good part of their team have worked together previously at Falconbridge and in those roles worked at advanced stage projects into production. “ Our companies business model is a project business generator model. We look at coming up with exploration projects and then finding partners to work with on them. We like to sell interest in projects to help finance the work and keep ownership of our company. We recently did a financing as well to help our work.” TSX XTM.V