Transatlantic Mining Corp.
TSX VENTURE : TCO

Transatlantic Mining Corp.

March 02, 2017 11:16 ET

Transatlantic Mining Corp. Concentrate Ready for Revenue At Alder Gulch-US Grant Mine & Mill Complex, Montana (USA)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2017) - Transatlantic Mining Corp. (the "Company") (TSX VENTURE:TCO) announces that it has pre sold its second concentrate batch from the Alder Gulch Property-US Grant Mine & Mill Complex located in the Virginia City Mining District of Madison County, Montana (USA). This report contains the provisional results for this second concentrate batch set for a third party smelter along with final results from the first low grade concentrate treated through a third party Cyanide in Leach Processing facility reported previously in January.

Provisional Results for the second batch of concentrate:

  • The provisional results for the concentrate are 12.7 dmt @ 3.08 Oz/t Au and 118 oz/t Ag
  • This represents a 10% increase on the Gold (Au) content and a 112 % increase on silver (Ag) content compared to the first batch

Results from the first batch of concentrate are shown in Table 1. This lower grade concentrate was derived from low grade mineralisation and was announced on 19th January 2017. The results demonstrate that plant scale gold and silver recovery is higher than indicated by the metallurgical test work reported in the recent NI-43-101 report for the US Grant.

Table 1 First Batch of Concentrate Results

Dry Tonnes Oz/tonne Contained
Troy Ounces
Metal Recovery Recovered Troy Ounces
16.8 2.79 Au 45.6 Au 97.7% 44.6 Au
16.8 55.7 Ag 933.7 Ag 91.9% 857.9 Ag

All of the gold and silver concentrate was produced by the 40 ton per day US Grant mill. The rate of concentrate production has steadily increased to a rate of 0.6 to 0.8 tpd (tons per day) as higher proportions of sulphides are appearing in the mineralised rock being delivered from the mine.

New mine development below the existing 3 Level has yielded the mineralised rock used to produce the second batch of concentrates. The provisional results are shown in Table 2.

Table 2 Second Batch of Concentrate Provisional Results

Dry Tonnes Oz/tonne Contained
Troy Ounces
Metal Recovery Recovered Troy Ounces
12.7 3.08 Au 38.9 Au n/a n/a
12.7 117.9 Ag 1494.4 Ag n/a n/a

n/a=not applicable at this time

The final revenue will be subject to the final smelter receipts and costs. There is a further nine wet tonnes of mineralised concentrate stockpiled at US Grant which will be sold when assays have been received.

The mineralised surface stockpile at US Grant now has a further 400 mined tonnes available for processing. Further higher grade material is expected to be delivered from the development below the 3 Level.

Process Plant up to 150 tpd (ton per day) Status

The 150 tpd ball mill and process plant capacity is expected to be running at a steady state at the beginning of March with only minor modifications incomplete. The trial mining rate is now in excess of the 40 tpd mill rate, with any of the incremental mining rate above that level intended towards this increased mill capacity.

CEO Bernie Sostak commented,

"It is good news to see that the processing facilities are now running with the first steps towards consistent revenue on a daily basis. The team at site now have the ability to consistently produce revenue which is a credit to all the work done over the previous 12 months. With successful exploration recently, and the mill and trial mining progressing well, we now are building further confidence that the mine can be a consistent performer with cashflow going forward."

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.

About Transatlantic Mining Corp.

Transatlantic Mining (TSX VENTURE: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.

Contact Information

  • Transatlantic Mining Corp.
    Bernie Sostak
    +61 (0) 439 904 044