Transition Metals Corp. has made a new platinum group metals discovery at its Midcontinent Rift nickel-copper-PGM prospect in Ontario, part of the Saturday Night project, according to a Jan. 23 news release.

Named the Saturday Night intrusion, the mineralized structure was discovered following the drilling of a single, 601-meter hole to test an 800-meter diameter magnetic target.

The hole returned a hit of 6.25 meters averaging 1.07 g/t of PGMs, including a higher grade section of 4 g/t of PGMs and 0.56% copper over 0.3 meters.

TSX Venture Exchange-listed Transition Metals said the geochemical signature of the Saturday Night intrusion matches the signature of other mineralized early-rift intrusions such as Sunday Lake and Thunder Bay North.