Transatlantic Mining Corporation follow up drilling on historical holes with Exclusive Lease Option to purchase the Miller Mine Gold Project.
Transatlantic Mining Corp. | Suite 400 | 837 West Hastings Street | Vancouver | Canada V6C 3N6
T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com
Transatlantic Mining Corporation follow up drilling on historical holes with Exclusive Lease
Option to purchase the Miller Mine Gold Project.
TCO NEWS RELEASE-VANCOUVER, B.C., July 2, 2019 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V) is
pleased to announce that it has entered into an exclusive agreement to lease and purchase the Miller Mine in the Broadwater County
in the State of Montana , USA .This will be after an initial due diligence period including a Transatlantic election to lease and
purchase with a profit share arrangement consideration. Due diligence will commence now that includes drilling the down dip
mineralization (400 feet) of the Miller Mine which has been historically mined. These claims are approximately 29 miles to the
North east of Townsend in Montana and add towards the consolidation strategy of the district that Transatlantic is undertaking.
Highlights
• Exclusive Due diligence on “Historical Drillholes” DD 1 and DD 2 drilled in 1968-69 (*).
Jericho DD # 1 8 feet at 14.9 oz /ton Au (2.4 metres at 516 g/t Au ).
Jericho DD #2 5 feet at 0.25 oz/ton Au (1.5 metres at 8.6 g/t Au) and
2 feet at 0.9 oz/ton Au (0.6 m at 31 g/t Au)
• Commence confirmation drilling on the “historical “ core holes
• Exclusive Lease and purchase option for the Miller Mine and Claims .
Key components of the transaction:
Transatlantic has been granted an exclusive due diligence right to all data and information for the Miller Mine Patented and
Unpatented claims in Broadwater County, Montana USA to August 15th 2019. Transatlantic intends on commencing drilling
around the historical drilling which was conducted by Jericho Mines Ltd in 1968-69 ( * Table 1 ) as reported by Hemsworth July 2
1969
- A First Renewal Term of twenty four (24) months following the expiry of the due diligence period for consideration
of $100,000 in cash or share equivalent between 5 and 10 cents CAD at Transatlantic mining election subject to
TSX approval. On that election should it occur ,Transatlantic to spend $100,000 in the first renewal term.
- A Second Renewal term of twenty four (24)months on the expiry of the First Renewal Term for consideration of
$100,000 with a minimum $100,000 spend in that period.
- Should mining occur at anytime, there will be an 8.5 % payment royalty on ounces produced until the cumulative
lease reaches $4.5 Million USD for change in ownership to 100 % Transatlantic and a perpetual 1% gold NSR to
the vendor thereafter.
Drilling to commence:
Transatlantic is to commence a drill program to confirm with new drilling to validate the drill intersections previously reported
that had high grade gold mineralization drilled from surface in 1969 (*). The drilling is scheduled to commence before the end of
June 2019.
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About the Miller Mine and Claim Group:
Transatlantic has commenced the due diligence period now with more information to be provided in due course.
The Miller Mine is situated amongst patented and unpatented claims at an elevation of 6,400 feet and accessible by roads 50 miles
from Helena, Montana USA.
The gold and silver mineralization occurs on the contacts of sediments and intrusives with native gold and sulphides including
pyrite often observed with 4 adits already located on the property.
“The historical drilling results are high and we now embark our due diligence drill program to confirm these exceptionally high
grades. The intersections are just below the surface and can be readily accessed via underground adit access that already exists
and in place.” commented Bernie Sostak CEO of Transatlantic Mining.
Review by Qualified Person (* Note Table 1)
Aslam Awan PhD CP_MAusIMM (CP Geo) 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 with the following comments:
The technical data is based on the written historical reports as stated with no availability of the core /pulps to
currently validate this data. Agreement with Company to drill new holes to validate historical drill intersection
positions.
About Transatlantic Mining Corp.
Transatlantic Mining ( TSX-V: TCO) is an emerging precious and base metal explore r. The Company has a focus on converting
projects into mines within stable mining jurisdictions. The Company entered a purchase agreement towards 100% of the US Grant
Gold-Silver Mine & Mill complex in Montana (USA). The Company has also 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.
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
*Table 1. “Historical” Drillhole Assays on the Miller Mine Claims (Target area for new TCO confirmation drilling)
Historic Drillhole Number
From
(ft) To (ft)
Length
(ft)
Length
(m)
True
Width
(m) #
g/t
Au
Oz/ton
Au
Oz /ton
Ag Vein
Jericho DD Hole 1 293 301 8 2.4 1.8 513 14.9 6.0 Blue Shale
Jericho DD Hole 2 160 165 5 1.5 1.2 8.6 0.25 Trace
319 321 2 0.6 0.5 30.9 0.9 Trace
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Downhole lengths
(# ) True width estimate based on regional dip
Assays from old laboratory reports “Hemsworth July 1969”
Diamond Core was whole sampled as noted and unavailable to view and validate
Hole 1 had 4 different samples for assay, Hole 2 having 2 samples for assay
The technical information about this drillhole data is from historical reports and further verification
is required