Transatlantic Mining to Commence Resource Drilling at Historic Miller Gold Mine, Montana
MWN-AI** Summary
Transatlantic Mining Corp. (TSXV: TCO) has announced the commencement of resource definition drilling at the historic Miller Gold Mine project, located near Helena, Montana. Following the acquisition of a drill permit, the company plans to drill up to 3,000 meters this spring, targeting untested deeper zones of the mine. Drilling will focus on the principal vein structure and is intended to explore the lower levels of the mine, which have favorable ground conditions based on historical workings.
The Miller Gold Mine, positioned in Broadwater County, has a rich history of gold extraction dating back to 1901-1948, with occasional production by individual owners. Recent sampling has confirmed gold mineralization presence, including impressive grades of 7.94 ounces per ton (248 g/t) for gold and averages around 4.65 ounces per ton (145 g/t) for silver. Historical drilling has identified high-grade mineralization, with one hole reporting 14.7 ounces per ton (516 g/t) gold.
CEO Bernie Sostak expressed enthusiasm for the upcoming drilling season, emphasizing the potential for determining continuity of mineralization along the strike and dip efficiently. A webinar is scheduled for February 25, 2025, at 11:00 AM ET, where Sostak will provide insights into the drill program and future plans for the Miller Mine.
Transatlantic Mining holds a lease agreement for the Miller Mine and is on track to move towards 100% ownership via a royalty payment structure. The mine’s geology includes quartz veins hosting gold and silver, and mining has historically been conducted through open-cut and underground methods. The company, focused on converting projects to operational mines in stable jurisdictions, also has interests in other mining properties, including the Monitor Copper-Gold project and the Golden Jubilee Gold Project.
MWN-AI** Analysis
Transatlantic Mining Corp. (TSXV: TCO) is poised for an exciting phase with the commencement of resource definition drilling at its historic Miller Gold Mine in Montana. The company has secured the necessary drill permits and plans to drill up to 3,000 meters this spring, targeting significantly unexplored deeper zones of the main vein structure. The potential for high-grade gold and silver mineralization is underscored by historical data, showing exceptionally high grades historically extracted from the mine, including grades of up to 14.7 Oz/ton Au (516 g/t Au).
The significance of these upcoming drilling activities cannot be understated. First, the company's previous sampling efforts revealed promising results, including a grab sample from the Lower Winze Level that showed 27.6 g/t Au. These results create a bullish sentiment regarding the mine’s potential, making it an appealing prospect for investors seeking exposure to the precious metals sector.
Additionally, the location of the Miller Mine within a historically productive area near a once-thriving gold rush town adds a layer of historical credibility to its potential. The operational framework of an 8.5% royalty on ounces produced, coupled with an option for outright purchase, lends flexibility to Transatlantic’s future operational decisions.
Investors should monitor the results from this drill campaign closely, which will be available 6 to 8 weeks post-drilling. Positive assay results could lead to a substantial upward shift in stock value as they would affirm the mineralization potential that earlier data suggested.
In summary, for investors, Transatlantic Mining represents a speculative opportunity in the gold exploration sector, especially with the upcoming drill campaign at the Miller Gold Mine. Continuous evaluation of assay results and operational developments will be crucial for making informed investment decisions in the near term.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
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
FAQ**
How does Transatlantic Mining Corp. TCO:CC plan to utilize the results from the upcoming resource definition drilling at the Miller Gold Mine for future exploration strategies in British Columbia?
What potential impacts does Transatlantic Mining Corp. TCO:CC foresee for the broader mining industry in Vancouver, British Columbia, as a result of their drilling activities in Montana?
In what ways could the success of the Miller Gold Mine project influence investment opportunities for companies based in Vancouver, British Columbia, or the surrounding region?
How is Transatlantic Mining Corp. TCO:CC addressing environmental and regulatory concerns associated with mining operations in both Montana and British Columbia?
**MWN-AI FAQ is based on asking OpenAI questions about Transatlantic Mining Corp. (TSXVC: TCO:CC).
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