Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) - Transatlantic Mining Corp. (TSXV: TCO) (the "Company") is pleased to announce the company will commence resource definition drilling on its Miller Gold Mine project near Helena, Montana, USA.
Transatlantic has received its drill permit for the Miller Mine and plans to drill down dip of the historic lower levels to over 100 metres of strike and depth on the principal vein structure. The ground conditions are envisaged to be good where the old workings have been open. Transatlantic plans to drill up to 3,000 meters this spring targeting the untested deeper zones as per Figure 1 below.
Results from the assay laboratories are expected from 6 to 8 weeks after the drill campaign and geological evaluation is completed.
Figure 1 - Miller Mine Resource Drilling Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4652/242046_eea9034f34437beb_001full.jpge
Webinar: Transatlantic CEO Bernie Sostak will host an interactive webinar discussing the company's drill program and future plans:
February 25, 2025 at 11:00am ET
Register in advance for this meeting from this link:
https://us02web.zoom.us/meeting/register/bOCrGpR3SHuxb2HduamsZw
The Miller Gold Mine is located in Broadwater County, Montana, USA. The mine is approximately 29 miles northeast of Townsend, Montana USA. The presence of gold mineralization has been confirmed by previous sampling in accessible areas of the mine. Transatlantic is earning into the historic Miller Gold property by means of a gold production royalty.
A historical report on the Miller Mine notes that gold bearing ore was mined on a small scale by individual owners with sporadic production between 1901 and 1948. The mine is being re-accessed by Transatlantic to review existing ground conditions and infrastructure.
Located at the top end of the Confederate Gulch, near what is now a ghost town in Diamond City with a once population of 10,000 people, placer gold was abundant in this Gulch.
Miller had an average historical recovered grade mined of 7.94 Oz /ton Au (248 g/t Au ) and 4.65 Oz /ton Ag ( 145 g/t Ag)
Historical Hole #1 was drilled 300 feet below the lowest recorded workings and recorded a grade of 14.7 Oz /ton Au (516 g/t Au)
The Miller Mine mineralization occurs in quartz veins within, and on the contact, of a quartz diorite stockwork. The discrete veins dip 30 to 50 degrees whilst the stockwork has multiple veinlets that range in width from a few cms to 2 metres. The contact zone of alteration has been noted as over 15 m wide ( 50 feet ). Mining has been undertaken on both an open cut and underground methodology near surface. The mine areas is at an elevation of 2,000 m (6650 Feet).
Highlights of previous sampling (see news release dated June 14, 2023) include:
Miller Mine -Lower Level
- Opened up unsurveyed Lower Winze Level immediately below the Lower Level.
- First grab samples from Lower Winze Level include 27. 6 g/t Au, visual gold has also been observed.*
- Extended lease agreement to first renewal term with option to purchase by production royalty.
Transatlantic CEO, Bernie Sostak, said, "We are excited to be following up on the initial favourable rock sample program , historical high-grade drilling and production. The upcoming season of drilling and sampling will aid us in determining the continuity along strike an down dip efficiently."
About the Miller Mine and Claim Group:
Transatlantic has access to the Upper and Lower Level of the mine. The Miller Mine is situated amongst patented and unpatented claims at an elevation of 1920 m (6,400 feet) and accessible by roads 50 miles from Helena, Montana USA. Should mining occur at any time, an 8.5% royalty on ounces is to be paid. During the term of the agreement, the Company may purchase the property for US $4,500,000, less the royalty payments made above, with a perpetual 1% NSR to the vendor thereafter.
The gold and silver mineralization generally occurs on the contacts of sediments and igneous intrusive with native gold and sulphides including electrum and pyrite often observed amongst the 4 known adits located on the property.
Qualified Person and NI 43-101 Disclosure
Aslam Awan PhD MAusIMM (CP Geo) is the Qualified Person pursuant to National Instrument 43-101 for having reviewed, only the technical information contained in this news release. Mr. Awan is the Principal for AAA Geo Consultants.
QA/QC and Core Sampling Protocols
(*)The rock chip samples are grabs from the winze level drive of 5 kg in weight. The samples were crushed in whole to plus 70% passing 2 mm and then split and pulverised with analysis for gold and silver at the Christofferson Laboratory, Smelterville, Idaho USA. The Laboratory is an independent assay and umpire laboratory that follows industry techniques. The samples after being pulverised are analysed with a 15 to 30 gram fire assay charge and gravimetrically finished.
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. The Company currently has property interests including an 80% Joint Venture position on the Monitor Copper-Gold project in Montana-Idaho (USA) and 100% of the Golden Jubilee Gold Project with its associated mining rights. The Company has an extended lease, right to mine and purchase arrangement for the Miller Gold Mine in Montana to 100% ownership by way of payment royalty.
ON BEHALF OF THE BOARD OF DIRECTORS
" Bernie Sostak"
For more information contact
eeinarson@transatlanticminingcorp.com
604-614-8469
Register for Webinar, February 25, 2025 at 11:00am ET
https://us02web.zoom.us/meeting/register/bOCrGpR3SHuxb2HduamsZw
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242046
SOURCE: Transatlantic Mining Corp.
