Transatlantic Mining Announces First Gold/Silver Concentrate and Commissioning of Mill at the US Grant Gold/Silver Mine TSX Venture, {TSX-V: TCO}
August 4, 2016. Vancouver, British Columbia. Transatlantic Mining Corp. (TSX-V: TCO) (“TCO”) is pleased to provide an update on the US Grant Gold/Silver Mine & Mill in Montana (USA). As per the press release dated January 22, 2016, TCO is operating under an exclusive lease/purchase option agreement over a 16-month period ending in May 2017.
Commissioning of the Crusher and Mill is well underway, on a limited dayshift basis. In July, TCO produced its first gold/silver concentrate. While ongoing improvements are being made, lower-grade mine material is being run through the Mill processing facility. Optimization of the flotation circuit to realize maximum efficiency is in progress. This will serve as a comparison to previous metallurgical test work performed to date, prior to mining and milling higher-grade material.
Two tons of lower-grade concentrate has been sent to a commercial toll leaching facility in neighbouring Idaho to produce a doré product. {Note: a doré bar is a semi-pure alloy of gold & silver usually created at a mine site and sent to a refinery for further purification}. The tonnage sent to Idaho will lead to a leaching trial and performance report. This analysis will provide estimated commercial cost metrics for subsequent processing of higher-grade concentrates.
Training of Mill operators continues, the Company’s understanding is improving with each production run. Results from this process, along with access to higher grades from 3 Level, and an improvement in recoveries, will be reported after receipt of the full analysis from the toll leaching facility.
Management plans to increase throughput via the extraction of higher-grade material after fully commissioning the Mill processing facility and bringing the mine into 24-hour operation. With respect to activities at US Grant, VP Operations- North America Ron Krusemark commented,
"From observations of key operating metrics, and initial throughput at the mill, we are excited by the
Transatlantic Mining Corp. | Suite 800 | 1199 West Hastings Street | Vancouver | Canada V6E 3T5 T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com progress to date. Given that we will be moving into higher grade ore zones soon, this bodes well for the project."
About Transatlantic Mining Corp.
Transatlantic Mining Corp. (TSX-V: TCO) is a mineral exploration company focused on generating near-term cash flow from its leased (with exclusive option to purchase) US Grant Gold/Silver Mine & Mill in Montana (USA). The Company also has an option to earn into an 80% interest in AMCOR’s Monitor Copper/Gold/Silver project in the prolific Coeur D’Alene Mining District of Idaho (USA).
For further information please contact: Rob Tindall, CEO at (604-424-8257).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.