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.
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:
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.
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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