Transatlantic Mining: Drilling Results at the Golden Jubilee Mine Include an Intersection of 6.1 m at 13.1 g/t Au

April 13, 2023 5:22 PM EDT | Source: Transatlantic Mining Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 13, 2023) - Transatlantic Mining Corp. (TSXV: TCO) (the "Company") is pleased to announce assay results from the most recent drilling program. The drilling at the Golden Jubilee Mine consisted of 10 reverse circulation holes for a total of 2000 m. This mine is located in Granite County, Montana, USA. The results from this drilling program confirm that the mineralized structure continues down dip and along strike from mineralization which has either been mined previously or delineated by earlier drilling.


New Drill Results

  • Drillhole # 2201 -
9.1 metres at 7.8 g/t Au from 64 metres depth ( 8.0 m true width)
         (Including 1.5 metres at 16.11 g/t Au)
 6.1 metres at 5.5 g/t Au from 86.9 metres depth ( 5.5 m true width)
  • Drillhole # 2203 -
6.1 metres at 13.1 g/t Au from 111.3 metres depth (6.0 m true width)
        (Including 3.0 metres at 17.3 g/t Au)


The following long section (Figure 1) illustrates the new intersections juxtaposed against existing drill results as well as the processing results from earlier mining campaigns undertaken at the Golden Jubilee Mine.

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Figure 1: Long Section looking North West on Golden Jubilee Structure

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The Company has completed its inaugural drilling campaign into the Golden Jubilee deposit and is reporting the available assay results from the 10 holes drilled. These are shown in (Table 1* ). The Company was fully funded to complete this program and has funds available to undertake follow up additional work. The mineralization has been intersected down dip and along strike of existing drill holes and underground workings. There is also further evidence that there are an additional two mineralized zones in the footwall and hanging wall of the targeted Golden Jubilee mineralized structure. These outcomes provide encouragement to undertake more drilling in order to follow up on several geophysical targets which indicate that the mineralized structure extends for up to an additional one kilometre of strike. New exploration drill permits will be sought to facilitate this drilling. The Company is also evaluating the current water and operating permits with the relevant government departments. The gold mineralization intersected by the reverse circulation drilling is associated with a shear hosted iron quartz, sulphide rich replacement zone.

Some characteristics of the mineralization and drill program include:-

  • Drilling indicates that it is shallow, between 30 and 240 metres from surface.
  • The contacts to the mineralization are in competent marbleised limestones.
  • The mineralized zones are visibly distinct
  • It occurs in multiple parallel mineralized structures.

"The First phase of drilling and results continue to support the presence of mineralization below the lowest mine level. There is rising confidence in parallel mineralized zones that will require additional drilling. Not only does the main zone at the Golden Jubilee continue, but recent geophysics has highlighted targets and offsets one kilometre along strike. This information with existing high grade production and processing information will support and develop our model of the high grade and exploration structures further," commented Bernie Sostak, CEO of Transatlantic Mining.

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Table 1(*): Recent Reverse Circulation drill assay results for gold at > 3.0 g/t Au

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About Golden Jubilee

The 22 Golden Jubilee claims (Figure 2) are situated in Granite County, Montana USA and have had a number of previous owners. There has been only limited exploration and mining on the regional Red Lion (vein) Line trend, which is known to continue over a regional strike of 7 km in length. The Golden Jubilee Mine is located in mountainous country at an elevation of approximately 2,350 m.

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Figure 2: Plan View Golden Jubilee claim including Vein Structure interpretation

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Historical Production

Although some mining occurred prior to the year 2000, there are limited production records in existence. Table 2 contains the results from a bulk sample taken in 2000 and the more recent 10,000 t parcel mined over a five month period in 2014.

Table 2: Recent Trial Mining and Processing of the Golden Jubilee Mine 2000 and 2014

Period*Analysed/**Processed at TonnesGrade 
(g/t Au)
Au Gravity
% Recovery
Au Total
% Recovery
September 2000*Barrick-Golden Sunlight44764.7 g/t AuNR96.7 %
July- September 2014**Phillipsburg Mill3,86410.47 g/t Au47 %78.2 %
September - November 2014 **Barrick -Golden Sunlight5,9088.05 g/t AuNR88.5 %


NR= Not recorded separately

Historical Drilling

Previous exploration drilling has included 37 holes drilled prior to 2013 where the gold mineralisation and vein had been observed to be approximately 2.5 m wide with an 80-degree dip. Enrichments and wider mineralisation widths have been observed on geological cross structures striking at an obtuse angle to the Red Lion vein trend.

Review by Qualified Person (* Note Table 1,2,3)

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 GeoConsultants:

(*)The new reverse circulation drill 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 with blanks and standards inserted on batches of 25. The samples being pulverised and analysed with a 15 to 30 gram fire assay charge and a gravimetric finish. True widths were estimated based on the dip cross section width of the mineralisation at 1.0 g/t Au cutoff ( Table 1). Table 3 are historical holes drilled and assayed. The Company also adds a standard to determine any assay bias.

Further announcements will be made in regard to the activities as they transpire.

About Transatlantic Mining Corp.

Transatlantic Mining (TSXV: 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 also a lease to purchase arrangement for the Miller Gold Mine in Montana to 100% ownership.

For further information please contact: Bernie Sostak +61 (0) 439 904 044


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.

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Table 3: Historical Drill assay results for gold at > 1.0 g/t Au

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