Transatlantic Mining Corporation- New Kearsarge Permit.
Transatlantic Mining Corporation- New
Kearsarge Permit.
VANCOUVER
,
Oct. 18th, 2018
/CNW/ -
Transatlantic Mining Corp.
(the "Company")
(TCO:TSX.V) is pleased to announce that the Company has received a permit to advance further
activities on the Kearsarge Gold Project on which it has an exclusive option to purchase. During the
current collation of geological information, the Company plans to validate further with new drilling and
sample information for economic considerations. The Kearsarge and Big Vein are in close proximity
to surface with demonstrated "historic drilling" indicating high grade mineralization.
This new permit with the planned drilling campaign will provide the new data required to commence a
bulk sample and activity towards a new mineral resource estimate and as a minimum Preliminary
Economic Assessment (PEA). The new collected samples will also be used for current metallurgical
validation of the historical recovery studies already undertaken.
Given that it is only a short mining distance to the 45 metre wide shear (containing Kearsarge and
Big Vein), and the historical metallurgical recovery studies, the planned drilling will provide additional
data for a bulk mining sample of 10,000 tons in a staged approach. There is more data being
compiled outside the "Initial Area of Focus "that will be develop further exploration opportunity in the
region.
Highlights
•
New permit to allow drill testing and bulk sampling of the "Historical Estimate ".
•
Big Vein Highlighted drillhole grades (**) :
Hole # 70 -1-94
5.9 metres (17.6 feet )
at 31.15 g/t Au (1.0 Oz/t Au)
- True width 5.9 m
70 -3-94
7.5 metres (22.6 feet )
at 48.23 g/t Au (1.55 Oz/t Au)- True width 6.0 m
* KS-01
5.0 metres (15.0 feet )
at 60.27 g/t Au (1.94 Oz/t Au)- True width 4.3 m
•
Kearsarge Vein highlighted drillhole grades(**) :
Hole # UGKS-9-94
3.3 metres (9.8 feet )
at 35.26 g/t Au (1.13 Oz/t Au) -True width 1.6 m
96-2
1.3 metres (4.0 feet )
at 30.47 g/t Au (0.98 Oz/t Au)- True width 1.3 m
* KS-02
3.3 metres (10.0 feet )
at 10.23 g/t Au (0.33 Oz/t Au)- True width 2.7 m
•
Drilling Planned to validate veins and recovery, test along strike and down dip in the multi vein system
The following figure indicates the extent of the land package with the "Initial Area of Focus "used in
the historical resource estimates. The "area of focus" is one kilometre long (3000 feet) within a
highly prospective lineament of 3 kilometres (9000 feet) as shown in Figure 1 based on the historical
estimate in the area of focus:
Figure 1: Kearsarge Leases including Initial Area of Focus (CNW Group/Transatlantic Mining Corp.)
Both The Kearsarge and Big Vein are within a larger shear system. This shear system includes
additional lower grade mineralisation in the area between the Kearsarge and the Big Vein up to 45
metres in width combined. The dip of the veins are 70 degrees, and were mined largely during the
period between 1862 and 1903, but more recently some minor horizontal development took place
between 1998 to 2001.
The long section in Figure 2 shows pierce points on The Kearsarge Vein and Big Veins. Planned
drilling has been staged to develop the mineral resource estimate and studies going into the next
quarter.
Figure 2: Summary Pierce Points on The Kearsarge and Big Veins Long Section ( ** excerpt from
Table 1) (CNW Group/Transatlantic Mining Corp.)
CEO
Bernie Sostak
commented
,
"The Company looks forward to drill testing, sampling and developing additional technical studies
over the next quarter at the Kearsarge Gold Project. With the permit approval now received subject
to a bond, we have the ability to act on the geological features and opportunity we see for
additional mineralisation that is open at depth, along strike and in parallel veins. This will follow on
to estimating a new mineral resource with future exploration drilling campaigns for growth
."
Aslam Awan PhD, CP geoscientist is the Qualified Person pursuant to National Instrument 43-101
responsible for having reviewed and approved, the technical information contained in this news
release. Mr Awan is the Principal for AAA Geo Consultants:
The drilling data was validated into a database to match drill hole identifications with the matching
assays. QA/QC was undertaken by various Independent Commercial Labs on the original assays
to the pulps for the various drill techniques of Reverse circulation and diamond drilling samples.
The nominated assay checks on historical pulps by American Analytical Laboratories using a 15
gram fire assay charge in Osburn Idaho USA. Communications have also been undertaken with
previous operators on the properties indicating correlation with the existing data compiled and the
core and pulp stored to date.
About Transatlantic Mining Corp.
Transatlantic Mining (
TSX-V: TCO
) is an emerging precious and base metal explorer. The Company
has a focus on converting projects into mines within stable mining jurisdictions. In
August 2017
, the
Company entered a purchase agreement towards 100% of the
US
Grant Gold-Silver Mine
&
Mill
complex in
Montana (USA
). The Company has also entered a lease (option to purchase)
agreement on 100% of the
Kearsarge Gold
project in
Montana
, located 8 km from the US Grant
Mill.
The Company is also engaged in controlling and owning mineral properties interests, such as the
80% Joint Venture position on the
Monitor Copper-Gold
project in
Idaho (USA
).
A proven management team, led by Chief Executive Officer
Bernie Sostak,
seeks to enhance
shareholder value through evaluation, exploration, development, enhancement and expansion of its
existing assets, together with reviewing acquisition opportunities.
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
**
Table 1 drillholes.
For full set of historical drillhole assays on the Kearsarge and Big Vein see
News Release
March 2018
SOURCE
Transatlantic Mining Corp.
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http://www.newswire.ca/en/releases/archive/October2018/18/c8538.html
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For further information:
Bernie Sostak +61 (0) 439 904 044
CO: Transatlantic Mining Corp.
CNW 19:14e 18-OCT-18