Transatlantic Mining Corp V.TCO

Alternate Symbol(s): TRRGF

Metals & Mining Industrial Metals & Minerals

Transatlantic Mining Corp. is a Canada-based precious and base metal explorer. The Company is engaged in the acquisition and exploration of mineral property interests, such as the Golden Jubilee and Miller Mine Gold Property and the Monitor Copper/Gold Property. It has property interests including an 80% joint venture position on the Monitor Copper-Gold project in Montana-Idaho 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. The Golden Jubilee Property is located in Granite County, Montana, about 20 kilometers (km) from the township of Phillipsburg. The property lies on the famous Red Lion corridor. The Miller Mine Gold Property is located in Broadwater County, Montana, about 30 km from the township of Helena. The Monitor Project is located along the eastern extension of North Idaho’s Coeur dAlene Mining District.

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Transatlantic Mining Corp > Let's put these high gold grades into perspective

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Post by Dragoonon Apr 14, 2023 10:33am

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Post# 35395072

Let's put these high gold grades into perspective

Gold grades is one thing, but also need to put it into perspective. I like this table to have a better idea on gold grades:

Open Pit: Low grade 0 - 0.5 gold grams per tonne
Average grade 0.5 - 1.5 gold grams per tonne
High grade 1.5 + gold grams per tonne

Underground Mine:
Low grade 0 - 5 gold grams per tonne
Average grade 5 - 8 gold grams per tonne
High grade 8 + gold grams per tonne
Source: https://www.bullionbypost.co.uk/index/gold/gold-grade/

Time to put this into practice: Now let's compare this to $TCO.
Important is the cost structure. If I look at the pictures from the Miller and Jubilee projects then it looks like an 'open pit' could be possible to me. Investor presentation page 8 and 10. Jubilee shows there was an open pit partly for the mine in the past. I don't work in commodities nor mining so please correct me if I'm wrong. Maybe underground mine? Tough for me to say..

Grades Miller mine:
Upper level - Recent 2020 underground chip samples average 9.57 g/t Au - sample 5 (what meters was this???) Lower level - Grab sample indicate both visible gold and 15.5 g/t Au with 26 g/t Ag - sample 1 (see picture)

My personal opinion: Looks like High grade. Either with open pit or underground.

Grades Jubilee mine (NEW UPDATE 13-4-2022):

10 new samples were drilled last autumn, pending results. Highlights from the new drilling of 10 samples are 13.13 g/t AU highest (117 meters depth) and 3.34 lowest (240.8 meters depth).

Good to see the higher grades are closer to the surface! Very nice that they have a list of drill intersections below surface drilling on page 10 of investor presentation (not including 10 new samples). Lowest grade of 6.56 and highest of 38.25 They are already mapping the area!

My personal opinion: Looks like High grade. Either with open pit or underground. Looks to me to be an open pit as the samples are roughly 100m deep.

What do you think? Source is Investor presentation: https://www.transatlanticminingcorp.com/wp-content/uploads/2022/12/TCO_PresentationDecember2022.pdf
Any thoughts? Better comparisons? How to deal if you don't have an NPV calculation?

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