Transatlantic Mining Corporation US Grant Update.
Transatlantic Mining Corp. | Suite 800 | 1199 West Hastings Street | Vancouver | Canada V6E 3T5
T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com
Transatlantic Mining Corporation US Grant Update.
TCO NEWS RELEASE-VANCOUVER, B.C., November 2, 2017 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
announces, the final results for the trial concentrate obtained from test work on a bulk sample mined from the US Grant Mine. This
was part of a program to evaluate the amenability of the processing facilities at the US Grant Mine. This test work in conjunction
with the process plant commissioning support the case for additional mining 1. Updates to the trial mining , exploration and
construction activities are presented below.
Highlights
The final tonnes and grade shipped for trial processing of 56.1 dry metric tonnes
Trial mining on the 4 Level with exploration drilling targeting the vein position below this level
The construction of the new Sherman Decline Portal which has been located to access a new and unmined
vein offset from the US Grant Vein with the recently purchased equipment.
Figure 1 : New Sherman Decline Portal – Schematic Long section Including Exploration Drilling below the 4 Level Position
Final Project-to-date Trial Concentrate Sales
A total of 56.1 dry metric tonnes (dmt) shipped for processing.
o 109.2 grams/tonne gold (3.52 oz/tonne)
o 3,632 grams/tonne silver (116.8 oz/tonne)
o Concentrate NSR US$5,877 per dry metric tonne, after shipping and processing costs
o The last 21.8 tonnes of concentrate, processed from 4 Level vein material, were of a higher grade, with
a value ranging from $6,500 to $8,000 NSR per tonne.
Update on Trial Mining on and below the Historic US Grant #3 Level
The mining of a bulk sample from below the existing US G rant 3 Level has concluded. This exploration has confirmed the
continuation of gold/silver bearing sulfide mineralization below any previous mining at the property. The vein at this depth appears
consistent with what has been mined from the 3 Level to surface, and also indicates that the veins at the mine, and in the surrounding
district, continue to a greater depth than previously tested. This is further supported by the mapping of sulphides in the floor of the
4 Level. All bulk sample material has been processed to date. Further mining will occur in the future after development to the area
drilled and reported in January 2017 has been completed. It is with the intention of starting this development that the Sherman
Decline portal has now been established.
Highlights from the mining of the bulk sample include:
156m (522ft) of ramp access development completed to access the bulk sample target.
Development of 4 Level with 106m (355ft) on vein.
A total of 6,260 tonnes (6,900short tons) of mineralized material developed.
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The total mineralized material mined and hauled for mill commissioning feed was 3,356 metric tonnes (3,700
short tons).
Mill head grade samples from this feed assayed 2.4 grams/tonne Au (0.07 oz/short) and 126.8 grams/tonne Ag
(3.7 oz/short ton). An estimated 2,903 metric tonnes (3,200 short tons) remain unmined from the area developed
and bulk sampled on the 4 Level.
Update on Exploration Drilling
A short underground drill program has been completed from the 4 Level of the US Grant Mine. To date , 270 m (890 feet) have
been drilled along the strike and down dip of the US Grant vein from the 4 Level to confirm the continuation of gold and silver
bearing sul phides. The c ore from this drilling is currently being prepared for analysis. Visual inspection of the core indicates
continued vein and sulphide continuing below the lowest point in the mine.
Sample results from the Phase 1 surface drill program ( Conducted in Q4 2016)2 have been received from American Analytical
Services. Results confirm continued quality of vein, mineralization and grade for the newly discovered strike extension of the US
Grant vein known as the Sherman Offset . The drilling to d ate has delineated a 300 ft strike extension of the vein over a n on-dip
vertical extent of 780 ft (the Sherman offset), from its surface outcrop to the 3 Level elevation. Surface mapping of the area to the
east of this drilling shows a potential for an additional 400 ft of strike extension. Further drilling has been planned for this area.
Sherman Portal Development
Development of a new underground mining access, the Sherman Decline, has commenced. This is being undertaken with company’s
own heavy equipment and contract labor . The Sherman Decline will be utilized to access the newly drilled and as yet unmined
Sherman Vein, an offset and extension of the US Grant Vein. The decline will be driven rapidly with modern trackless gear to
enable subsequent development of the Sherman Vein in order to obtain a bulk sample. The portal development is complete, 165m
(540 feet) of 3.6m x 3.6m (12 ft x 12 ft) ramp is planned to access the first sublevel of the vein mineralization. After the secondary
escapeway and initial vein exploration are completed, the mining of this mineralized zone will continue to the extent of the current
drilling. A recent picture of the Sherman Portal progress is shown above.
Figure 2 : TCO owned equipment establishing the Sherman Decline Portal
Kearsarge Due Diligence
The Kearsarge Gold Project exclusive due diligence period is now secured to the end of December 2017 with historical drill hole
data information now being collated and compiled. Further results will be updated during the quarter.
CEO Bernie Sostak commented,
“The drilling to date at US Grant supports the geologic model with continued intersections of the mineralization. The recent
exploration and the trial mining/milling campaigns have indicated gold and silver to be available for future extraction with
modern mining equipment now being sourced for productivity gains. The recently purchased and strategic US Grant Mine and
Mill complex, along with a second project in the Kearsarge where due diligence continues, sets us as a strong district position.”
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J. 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.
1 Full-scale production decision has not been made. Current production has been based on testing plant capability and recent
drilling and has not been based on a feasibility study or mineral reserves.
2 See News Release 16 January 2017 and NI 43-101 report July 28th 2017
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 withi n stable mining jurisdictions. The Company is engaged in controlling and owning mineral properties
interests, such as the 80% Joint Venture position on the Monitor Copper-Gold project in Idaho (USA).
In January 2016, the Company entered a lease (option to purchase) agreement on 100% of the US Grant Gold -Silver Mine &
Mill complex in Montana (USA). Transatlantic has now fully exercised its option and closed on the purchase of Us Grant complex.
The Company has also entered a lease (option to purchase) agreement on 100% of the Kearsarge Gold project in Montana, located
8 km from US Grant Mill.
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