Transition Metals advances Yukon asset, eyes partnerships and drilling

All right, welcome back inside our proactive newsroom.

And joining me now is Scott McLean.

He is the CEO of Transition Metals.

And Scott, it's great to see how are you?

Very good.

It's been a while, Steve.

A nice to see you too.

Yeah, nice to see you as well.

It has been a little while.

So let's get caught up on everything it's going on.

For those not familiar, tell me a little bit

about Transition Metals.

Well, Transition Metals has a lot within the small company.

Currently, we trade for about $7 million on the TSXV.

And currently have assets worth about $25 million,

including $10 million in cash and securities.

So we're a really good shape, really strong balance sheet,

and just don't get any recognition for that on the market.

So I'm coming and talking to you today.

I'm trying to educate investors

that this is a great opportunity with a significant delta

between market cap and asset value.

Yeah, tell me a bit about your assets.

I know that last time you and I talked, Pike Warden

was obviously the key one.

Is that still the case?

Yeah, we've taken that a long way.

But we've now invested our interest,

100% interest in Pike Warden.

That's a large project up in the Yukon just north

of the BC border.

It has some significant new porphyry opportunities

that haven't been recognized in the past as well as

up to 30 significant epithermal high grade gold

and silver showings up in the Highlands there.

We're excited about the project.

It's a big project.

We'd like to find a partner for that now.

It's got a huge data set on it.

We've spent a lot of money, and it's now

time to bring in another another party to help us

take that to the next step.

Is that sort of they'll do that sort of the on the grounds

work and help support that?

Is that what you're looking for?

Yeah, we'd like to take, it needs a significant influx

of capital now, we think, which would include geophysics

and primarily drilling that needs to be done there.

And it would be nice to have some help on that project.

Okay, so tell me about the other assets

that you're really excited about, Scott?

Yeah, sure.

So for 14 projects across Canada,

a number in Ontario, Saskatchewan, Northwest Territories,

Yukona, as I mentioned, Nova Scotia and BC.

Our main, and we like to look for partners

for most of these projects.

Our main work this year will focus

on our gold opportunity in the Abitibi called Galganda.

It's along the right out structure,

which is a, well, an under explored,

deep-prostal structure south of the Cadillac break.

And over the last decade, there's been about 15 million

ounces of gold found along that, at including I Am Gold's

Cote Project and McFarland Lakes Juby Project

in the Shineswy area.

And we're right along Trenta that have about 1.5 kilometer

strike length of good mineralization there in the Archean,

as well as some protozoic-selver opportunities.

That project needs some attention,

especially in this rather frothy gold market.

We'd like to see that project advance.

We've got some great plans for it,

including structural analysis, some trenching,

and then some drilling this summer.

The other project, which we'll see some opportunity,

some work done on it, is our Saturday Night Platinum

Pladeum Project.

And as you know, Steve Platinum and Pladeum

have done reasonably well over the last year

and significantly increased in those projects,

and those metal prices in projects, PGM projects

are hard to find around the globe.

We've got two of them in the Thunder Bay area,

our 25% free carry and Sunday Lake,

which is a significant discovery.

And a 100% interest in Saturday Night

that we now have five drill holes into,

all mineralized, a wide open sheet of mineralization,

that's about 800 by 200 meters in size and growing.

I know you're raising some capital right now.

Is that going to be to get a bunch of this work done?

And are you looking for partners on those particular projects

as well, Scott, or is this something

the company's going to push forward?

We'll take those ones forward.

Now, we're always open to discussions on partnerships,

but those are the two projects

that we'll be focused on this year.

And the reason we're raising a little capital

is we do have a strong balance sheet

with about $3 million in cash.

That's all hard dollars.

We would like to take advantage of the flow through opportunities

and we're carrying out some charity flow through money,

charity flow through financing

so that we can preserve those hard dollars

and keep the company in good financial position

for the months and years ahead.

Scott, it sounds like this is going to be a very busy year

then it sounds like you've got a lot of work planned.

We do have a fair bit of work planned

and we'd like to get going on it.

We'll spring us here and we'll be here in a couple of days

and we really want to get up and running on our field programs.

So we hope to be able to close out that financing.

Obviously, if there's investors out there

that are interested in participating,

we're certainly open to those calls.

All right, Scott, we'll leave it there.

Thanks so much, good update as always.

And we look forward to following the stories

that continues to develop, okay?

Very good, Steve.

Have a nice day.

You as well.

Scott McClain, the CEO of Transition Metals.