Transatlantic Mining Corporation Sampling on Upper Level averages 9.57 g/t Au and 34.7 g/t Silver over 1.2 m true width at the Miller Mine Gold Project.
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Transatlantic Mining Corporation Sampling on Upper Level averages 9.57 g/t Au and 34.7 g/t
Silver over 1.2 m true width at the Miller Mine Gold Project.
TCO NEWS RELEASE-VANCOUVER, B.C., August 17, 2020 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
is pleased to announce that it has continued and extended its activities on an agreement to lease and purchase the Miller Mine in the
Broadwater County in the State of Montana , USA . Following on from Lower Level sampling previous , access was made to the
Upper Level with quartz and sulphide apparent over 100 metres ( 300 Feet) in strike. A grab sample under a collapsed chute further
informed gold mineralization on the Upper Level. The sampling both from the current program and historical mining and drill
programs underpin further drilling and future sampling activities to build a near term trial mining sample. 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
Upper Level
• Vein rock chip channel samples (5) average 9.57 g/t and 34.7 g/t (*) silver ( 1.2 m average width)
• Vein Length composite average over 100 m (300 feet) exposed length weighted
• Chute rock remnant grab sample assayed 12.79 g/t Au and 50 .7 g/t Ag(*)
(Grab samples are selected samples and are not representative of the mineralization hosted on the property)
Lower Level
• Grab sample on Lower Level indicate both visible gold and 15.5 g/t Au with 26 g/t Ag (**)
(Grab samples are selected samples and are not representative of the mineralization hosted on the property)
• Plan to commence access and drilling in September 2020
JG Level
• “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)
Key components- Upper Level Samples :
Transatlantic has taken additional reconnaissance samples, after accessing into the upper level of the Miller Gold Mine. The new
samples on entering the Upper Level exposed a 100 metre ( 300 feet) length of quartz vein and sulphide exposed in the ribs and
walls of the historical mine development .This finding and composite length assay weighted result averaged 9.57 g/t Au and 34.7
g/t Ag over a 1.2 m true width on observed strike from 5 samples on the vein strike . Based on the results , additional planning to
undertake work at the Miller Mine Patented and Unpatented claims in the Broadwater County, Montana USA is in progress. In
addition to the vein rib samples one sample was also taken of the remnant mined rock from the existing in situ underground
chutes, informing an assay of 12.79 g/t Au and 50.7 g/t Ag (*).
The compilation of existing reports with first time access to the Upper Level and with the recent Lower Level samples with
geology underpin the effort to access and plan drilling for extensions down dip and along strike . Figure 1 below is a summary to
date of the new information compiled with samples from the Lower and Upper Levels.
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Figure 1 : Schematic Plan and Cross section through Miller Mine looking North East
The following samples came from the 6300 Feet Level as a rock grab and sample 2 is one of the rib samples taken on the Upper
Level (6350 Feet level). The samples may not represent the total strike length of mineralization but are indicative of containing
gold and silver that had been previously mined historically.
Figure 2 : Sample 1(**) containing Vein quartz sulphides and Sample on Vein TC 17 (*) Upper Level
The Company plans to drill on the existing exploration drill permits in the September quarter . This historical hole was
conducted by Jericho Mines Ltd in 1968-69 ( *** Table 3 ) as reported by Hemsworth July 2 1969.
About the Miller Mine and Claim Group:
Transatlantic continues the due diligence period with further collection and review of data.
The Miller Mine is situated amongst patented and unpatented claims at an elevation of 6,400 feet and accessible by roads 50 m iles
from Helena, Montana USA.
The gold and silver mineralization generally occurs on the contacts of sediments and intrusives with native gold and sulphides
including pyrite often observed with 4 underground adits ( 2 collapsed) located on the property.
“The grades and observations to date continue to support that gold exists in the mine on multiple levels. With existing
development in place ,ready access can be made to extend the known mineralization with additional drill and mine information
for future progress. ” commented Bernie Sostak CEO of Transatlantic Mining.
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Key components to the Exclusive Option :
- Due Diligence extended to October 2020
- 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 cumulat ive
lease reaches $4.5 Million USD in payment royalty for change in ownership to 100 % Transatlantic and a perpetual
1% gold NSR to the vendor thereafter.
Review by Qualified Person (* Note Table 1,2,3 )
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 new rock chip samples from the Upper Level were crushed and pulverised with analysis for gold and
silver at the Christofferson Laboratory, Smelterville, Idaho USA. The laboratory is an independent assay and
umpire laboratory follows industry technique on crushing the sample and pulverised with a 30 gram fire assay
charge to assay with a gravimetric finish and observed in the laboratory report . ( Note : Table 1)
(***)The technical data is based on the written historical reports as stated with no availability of the core/pulps to
currently validate the historical data for the diamond drilling. (**)The grab samples from the Lower Level (6300
Ft) was analysed and tested for gold and silver using a 50 gram fire assay charge with a gravimetric finish at
IAL(34 Buckingham Drive Wangara West Australia independent assay laboratory following standard industry
crushing and pulverising technique. (Note Table 2, table 3)
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 and now reviewing the option to enter the Miller
Mine Gold Project.
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 adequacy or accuracy of this release
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*Table 1. Sample from Upper Level Quartz and Sulphide analysis
True width of vein in wall
Samples are wall vein rock chips and grab from upper level drive
Sample assayed by Christofferson Independent Laboratories ,Smelterville Idaho,USA
The muck sample is a grab sample of broken rock under a chute
Grab samples are selected samples and are not representative of the mineralization hosted on the property
**Table 2. Sample from Lower Level Quartz and Sulphide analysis
Sample Number Type Location Elevation (ft)
True
Width
(m) # g/t Au g/t Ag Vein
Lower Adit Number 1 Rock Grab Lower adit 6300 1.0 15.5 26 Miller Quartz Vein
Lower Adit Number 2 Rock Grab Lower adit 6300 1.0 Visual Au
Not
assayed
Not assayed ,contains
visual gold
(# ) True width an estimate of vein in wall
Samples are grabs from level drive and
are not
Sample assayed by IAL with Fire assay
and gravimetric finish
The Laboratory is Independent and
accredited as an umpire laboratory
***Table 3. “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
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 separate samples for assay, Hole 2 having 2 samples for assay
The technical information about this drillhole data is from historical reports and additional future
verification is required with new drilling to substantiate
Sample Number Width
(feet) Width (m) g/t Au Oz/t Au g/t Ag Oz/t Ag Elevation
(feet) Type Level Vein
TC 15 4 1.2 8.98 0.262 17.1 0.5 6360 Rock Chip * Upper Level Miller Vein
TC 17 5 1.5 13.09 0.382 54.8 1.6 6360 Rock Chip * Upper Level Miller Vein
TC 20 3 0.9 14.5 0.423 53.1 1.55 6360 Rock Chip * Upper Level Miller Vein
TC 21 6 1.8 4.49 0.131 37.7 1.1 6360 Rock Chip * Upper Level Miller Vein
TC 25 2 0.6 6.79 0.198 11 0.32 6360 Rock Chip * Upper Level Miller Vein
Muck N/A 12.79 0.373 50.7 1.48 6360 Grab Under Chute Upper Level Miller Vein
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