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File: 2017-08-04_TCO_NR.pdf
Transatlantic Mining Corp. NI 43-101 Geology and Mineralisation Report on the US Grant Mine
TCO NEWS RELEASE-VANCOUVER, B.C., August 4, 2017 Transatlantic Mining Corp. (the "Company") (TCO:TSX.V).
As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news relea
--->se to clarify
disclosure for the US Grant Mine within the Alder Mountain Project.
In December of 2016, the Company filed a technical report on SEDAR for its US Grant Mine property entitled "The Minera
--->l
Resource and Preliminary Economic Assessment at the US Grant Mine Property, Virginia City, Madison County, Montana, US
--->A ",
(the "Original Report"). The Original Report was selected for review by the British Columbia Securities Commission (th
--->e "BCSC").
As a result of that review the Company, in a news release dated April 20, 2017, advised investors that the Original Re
--->port should
not be relied upon until a compliant report was filed. The Company commissioned a new report filed on SEDAR August 4,
--->2017,
entitled, "The Geology and Mineralization of the U.S. Grant Mine Property Virginia City, Madison County Montana U.S.A
--->" (the
"New Report'). The New Report does not contain a current mineral resource estimate, and therefore no economic analysis
--->, for the
US Grant Mine property. The New Report also updates the drilling data contained in the Original Report to include the
--->results of
additional drilling and assays around historic hole USG 88-2, obtained in the intervening period.
The New Report also provides an historic resource estimate for the US Grant Mine as reported in 1990 (McLeod, 1990), a
--->s follows:
Au grade Ag grade
Tons opt opt Category Information Source
23,000 0.53 16.5 Proven McLeod, 1990
200,000 0.53 16.5 Probable McLeod, 1990
158,400 0.3 5 Possible McLeod, 1990
The Company's Qualified Person has not done sufficient work to classify the historical estimate as current mineral res
--->ource or
mineral reserve. Based on a review of all the historic data, the QP concurs that the methods used to estimate the hist
--->oric resource
met industry standards at that time and are reliable. The resource categories included in the 1990 estimate (Proven, P
--->robable, and
Possible) are similar to the NI 43-101 resource categories (Measured, Indicated, and Inferred). There has been little
--->mining
completed since the latest historic estimate and the estimates are supported by recent TCO exploration drilling data a
--->nd recent TCO
exploratory mine drifting data. The QP therefore believes that the 1990 historic resource estimate is a reliable estim
--->ate and still
relevant. The QP recommends that the historic resource estimate be upgraded to a NI 43-101 compliant mineral resource
--->estimate
using the applicable historic data, recent TCO exploration drilling data, and recent TCO exploratory mine drifting dat
--->a.
The US Grant Mine property has had only a limited amount of exploration drilling during its history. An exploration ta
--->rget in the
range of 1.7- 2.6 million tons, with grade range of 0.19-0.28 opt equivalent gold (approximate range of 350,000 to 750
--->,000
equivalent gold ounces based on gold/silver at US$1200 and US$15.80, respectively) is estimated based on vein data, av
--->erage
widths, down dip projections, US Grant literature and regional vein grades. Note: the potential quantity and grade abo
--->ve is
conceptual in nature as there has been insufficient exploration to date to define a mineral resource, and it is uncert
--->ain whether
further exploration will result in the target being delineated as a mineral resource.
The assays obtained from the recent drill program around the historic hole 88-2, are as follows:
Transatlantic Mining Corp. | Suite 800 | 1199 West Hastings Street | Vancouver | Canada V6E 3T5
T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com
true
from Au Eq Au Eq
Hole # to (ft) width Au opt Ag opt Au g/t Ag g/t
(ft) opt g/t
(ft)
SURDH#1 159 167.7 5.9 0.286 5.3 0.357 9.8 181.5 12.24
Includes 4.4 14.2
SURDH#3 122 128 3.5 0.093 1.8 0.116 3.19 60.0 3.99
SURDH#4 198 205 6.7 0.083 3.1 0.124 2.86 105.0 4.24
SURDH#5 201 207.6 6.4 0.172 2.3 0.203 5.9 78.9 7.33
Includes 2.1 16.9
SURDH#6 177.4 186.7 8.9 0.522 3.1 0.564 17.91 106.4 19.35
Includes 2.8 36.8
SURDH#8 191.5 195 3.3 0.195 3.1 0.237 6.68 107.3 8.09
SURDH#9 178.5 187.5 6.8 0.068 2.2 0.097 2.33 76.0 3.33
SURDH#10 268 276.5 6.1 0.133 1.4 0.152 4.55 48.7 5.19
Includes 2.0 10.2
682 683 1.0 0.087 3.35 0.131 2.98 114.9 4.50
SURDH#12
690 691 1.0 0.368 13.90 0.551 12.62 476.6 18.89
SURDH#13 215 221 4.3 0.100 2.35 0.131 3.43 80.57 4.49
SURDH#14 159.7 166.5 6.7 0.152 3.88 0.203 5.21 132.92 6.96
Includes 1.5 21.1
Gold equivalent is based on a contained Au price of $1200/oz and $15.80/ounce for Ag
The New Report was authored by Chris Pfahl, PE, PLS, who is a Qualified Person under NI 43-101 and has reviewed and ap
--->proved
the disclosure of a scientific or technical nature herein.
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 developed a concentrate within 12 months. The Company also holds an exclusive
--->lease
with option to purchase on the Kearsage claim group comprising approximately 700 acres, located approximately four mil
--->es from
the US Grant Mine. 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 earnin
--->g accretive
acquisitions. For further information please contact: Bernie Sostak +61 (0) 439 904 044.
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