Transatlantic Mining Corp. Concentrate Continues and 150 tpd Mill Runs At Alder Gulch-US Grant Mine & Mill Complex, Montana (USA)

VANCOUVER, April 5, 2017 /CNW/ - Transatlantic Mining Corp. (the "Company") (TCO:TSX.V) announces that it has developed a third batch of concentrate from its Advanced Property, the Alder Gulch Property-US Grant Mine & Mill Complex located in the Virginia City Mining District of Madison County, Montana (USA).  This report includes updates to the provisional results for the second and third batches of concentrate going to a third party smelter. Increasing grades are now being encountered in the US Grant Mine between the 3 Level and 4 Level and upgrades to the 150 tpd (tons per day) Process Plant capacity are near complete. Of note are the following;

  • The provisional assays for the third batch of concentrate are 8.5 dmt @3.9 Oz/t Au and 157.4 Oz/t Ag;
  • This represents both a 22%increase on the Gold (Au) content and the Silver content (Ag)
  • Development below 3 level confirmed grades to 13 g/t Au and 522 g/at Ag (19.9 g/t Au Equiv);

Processing

Whilst a Production Decision is still to be made, the concentrate developed from the trial mining and processing through the installed and commissioned 150 tpd capacity Alder Gulch Mill has commenced for further evaluation.

The mill now has the capacity to increase concentrate yield at a steady rate of over one tonne per day. This represents a significant increase from the 0.6 to 0.8 tpd (tons per day) achieved prior to the upgrade when the mill throughput was less than 40 tpd (News Release March 1st 2017) on this trial mining phase.

Table 1 Second Batch - Concentrate Provisional Results

Dry tonnes

Oz/tonne

Contained

Troy Ounces

16.5

3.2    Au

50.0     Au

16.5

129.1 Ag

2025.6 Ag

 

Mine development below the existing 3 Level continues in sulphide mineralisation. This material has commenced to develop a new and third batch of concentrate with provisional assays tabulated in Table 2. There is additional concentrate in storage pending the return of those provisional assay results. There is also a surface stockpile of additional material awaiting treatment. The provisional results in Table 2 show an increase of 22 % in both the gold and silver grades (vs Second Batch) .

Table 2 New Third Batch - Concentrate Provisional Results

Dry tonnes

Oz/tonne

Contained

Troy Ounces

8.5

3.9    Au

12.3     Au

8.5

157.4 Ag

492.9   Ag

 

The last two tonnes developed from Batch 3, were assayed at grades of 4.9 Oz /t Au and 204 Oz/t Ag respectively. In addition, to the 8.5 tonnes in Table 2, there are three new tonnes of concentrate awaiting assay to be composited to Batch 3 on receipt.

The surface stockpile of mineralised material at US Grant has now increased from the trial processing through the 150 tpd milling facility. Further mineralised material is expected to be delivered from the development below the 3 Level to evaluate mining technique, processing and recovery opportunities.

The final revenue will be subject to the final smelter receipts and costs.

Mine Development Grades Below 3 Level

The trial mine development continues below the 3 Level with vein grades up to 13 g/t Au and 522 g/t Ag for a 19.9 g/t Au Equivalent over an average 0.7 m true width and over 10 metres in strike length

Table 3 Individual Samples of US Grant Vein Quartz on the 4 Level.

Sample #

Width (m)

Au (g/t)

Ag (g/t)

Au Equiv (g/t)

Location

Type

1109

0.8

13.0

522.5

19.9

4-Level

US Grant Vein

1109-1

0.8

3.5

662.7

12.2

4-Level

US Grant Vein

1109-2

0.8

3.4

881.1

15.0

4-Level

US Grant Vein

1110

0.6

7.6

545.5

14.8

4-Level

US Grant Vein

1111

0.6

12.1

539.6

19.2

4-Level

US Grant Vein

 5 samples

0.7

7.9

630.3

16.2



Note: The gold equivalent grade (Au Equiv) used is USD $1200/Oz Au and $15.80/Oz Ag

 

This confirms that mineralisation continues below Hole DDH_1125-13 (See News release January 19th Figure 1) with strong sulphide mineralisation which can be observed to continue into the floor of the 4 level exploratory mine development. 

CEO Bernie Sostak commented,

"Whilst we are in a trial mining phase, with continued staged upgrades to the mine and mill, the results support towards a future production decision and mine life with cashflow. The Company continues to de-risk the current deposit with increasing knowledge. This in addition to exploration upside also supports towards a stronger business and investment case going forward at a new gold and silver mine."

Chris Pfahl is the Qualified Person 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 stable 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) which has now produced a concentrate within 12 months. A proven management team, led by Chief Executive Officer Bernie Sostak seek to enhance shareholder value through expert exploration/development and expansion of its existing assets, together with selective and future earning accretive acquisitions.

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

SOURCE Transatlantic Mining Corp.

For further information: Bernie Sostak, +61 (0) 439 904 044


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