Transatlantic Mining Corp. Intercepts 2.8 m of 19.3 g/t Gold Equivalent (“Au Eq.”) At Alder Gulch-US Grant Mine & Mill Complex, Montana (USA)
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Transatlantic Mining Corp. Intercepts 2.8 m of 19.3 g/t Gold Equivalent (“Au Eq.”)
At Alder Gulch-US Grant Mine & Mill Complex, Montana (USA)
TCO NEWS RELEASE-VANCOUVER, B.C., January 19th, 2017 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
announces surface drill results from the Alder Gulch Property-US Grant Mine & Mill Complex located in the Virginia City Mining
District of Madison County, Montana (USA). This report contains initial results from the phase 1 drill program which successfully
intersected gold and silver mineralization, including wide high-grade gold intercepts. The intent of the program was to target a new
area of the US Grant Deposit with drilling to increase confidence in the future mining plan should completion of a mining study
support the technical feasibility and economic viability of the project. The resulting assays indicate that holes were correctly targeted
with some measure of success.
Highlights Include:
SURDH #6: 8.9 ft. (2.8 m) true width at 0.564 troy ounces per ton (“opt”) (19.3 g/t) gold equivalent (“Au
Eq.”)
(Includes 2.8 ft. (0.85 m) at 1.07 opt (36.8 g/t) Au Eq.
SURDH #1: 5.9 ft. (1.8 m) true width at 0.357 opt (12.2 g/t) Au Eq.
Findings from the Maiden Mineral Resource report(1) support the potential for the discovery of additional mineral resources within
the US Grant property. Figure 1 and Figure 2 show the location of the existing mineral resources and the position of the intersections
from the Phase 1 Diamond Drilling Program.
Figure 1 US Grant Schematic Long Section Indicating the Parts of the Deposit T argeted in the
Phase 1 Diamond Drilling Program (Red Dots)
Drill Results
The surface drill program comprised 14 holes for a total of 1,457 metres. Recent assay results are derived from diamond drilling
conducted in October and November in a section of the deposit that had limited historical drilling . The drill holes successfully
intersected gold and silver mineralization, including selective areas of high-grade gold and silver material. These include two wide,
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high-grade gold and silver intercepts in SURDH#1 and SURDH#6. These results are shown in Table 1 along with assay results from
6 other holes in the Phase 1 program. Additional assays are pending and will be released as they become available.
Figure 2 Long Section of US Grant Vein (Subset of Figure 1) with Assay Results (true width)
Table 1 Assay Results from the Phase 1 Diamond Drilling Program Conducted in October and November 2016
Hole # from
(ft.)
to
(ft.)
true width
(ft.) Au opt Ag opt Au Eq. opt Au g/t Ag g/t Au Eq. g/t
SURDH#1 159 167.7 5.9 0.286 5.3 0.357 9.8 181.52 12.24
Includes 4.4 14.2
SURDH#3 122 128 3.5 0.093 1.8 0.116 3.19 60 3.99
SURDH#4 198 205 6.7 0.083 3.1 0.124 2.86 104.96 4.24
SURDH#5 201 207.6 6.4 0.172 2.3 0.203 5.9 78.88 7.33
Includes 2.1 16.9
SURDH#6 177.4 186.7 8.9 0.522 3.1 0.564 17.91 106.44 19.35
Includes 2.8 36.8
SURDH#8 191.5 195 3.3 0.195 3.1 0.237 6.68 107.26 8.09
SURDH#9 178.5 187.5 6.8 0.068 2.2 0.097 2.33 75.97 3.33
SURDH#10 268 276.5 6.1 0.133 1.4 0.152 4.55 48.75 5.19
Includes 2.0 10.2
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Au Equivalent Grade based on USD 1200 Au and USD 15.80 Ag per respective ounce.
The from to is the downhole length followed by the estimate of true width
Mill Upgrade Status
A second ball mill was commissioned at the US Grant onsite Processing plant in December. This will enable a throughput increase
from 40 to 150 tons per day, which will accommodate an increase in future mining rates at US Grant and will provide the capacity
to treat higher tonnage from the US Grant as trial mining and exploration development continues until a future mine production
decision.
Executive Chairman Bernie Sostak commented,
“Key elements of exploration & infill drilling at US Grant, assays received to date , and our Mill upgrade to 150 gross tpd are
progressing well. The exploration drill results have increased our confidence in our plans for future mine development activities.”
Chris Pfahl is the Qualified Person pursuant to National Instrument 43-101 responsible for having reviewed and approved, the
technical information contained in this news release. Chris is the Principal and Owner of Silver Valley Engineering
About Transatlantic Mining Corp.
Transatlantic Mining (TSX-V: TCO) is an emerging precious and base metal explorer, developer and producer. The Company has
a focus on high-grade mining, in safe and prolific mining jurisdictions. The Company is engaged in controlling and owning mineral
properties interests, such as an 80% earn-in option on the Monitor Copper-Gold project in Idaho (USA).
In January 2016, the Company entered a lease/purchase option agreement on 100% of the US Grant Gold -Silver Mine &
Mill complex in Montana (USA). A proven management team, led by Executive Chairman Bernie Sostak seek to enhance
shareholder value through expert exploration/development and expansion of existing a ssets, together with selective acquisitions.
For further information please contact: Bernie Sostak +61 (0) 439 904 044
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 adequ acy or accuracy of this release
(1) “The Mineral Resource and Preliminary Economic Assessment at the US Grant Mine Property, Virginia City, Madison County, USA”