Transatlantic has purchased the Golden Jubilee Gold Property near Anaconda, Montana.
Reports on the Golden Jubilee Mine indicate gold bearing ore was mined on a small scale by individual owners with sporadic production between 2000 and 2014. The mine is being re assessed by Transatlantic to review the existing information and down dip extensions.
Located in the southern part of the Flint Creek Range 2 kilometres to the south of the historic Red Lion mine which was discovered in the early 1860’s.
- Golden Jubilee Bulk sample was mined in 2014 for 10,000 ton at a recovered grade of 9.68 g/t Au
- 37 historic holes exist on the property and below the existing workings
- A more recent hole #1611 intersected 3.6 m at 16.3 g/t Au
The Golden Jubilee mineralization is sulphide bearing high angle veins with replacement zones in the Hasmark dolomite.
The mine areas is at an elevation of 2400 m ( 7,200 Feet)
Location
Golden Jubilee Mine is located in Granite County , approximately 7 kilometres south east of the town of Phillipsburg , Montana
The District setting is in the Cable Anticline comprised of Cambrian quartzite and underlying shales , overlain by steeply dipping limestone and dolomite beds. The Golden Jubilee vein is a fissure replacement vein within the dilational openings within the dolomites dipping steeply near vertical to the north west.
The major alteration is silicification, iron replacement and quartz veining over the regional strike within a Limestone host rock. The mineralisation appears primarily with sulphide and little visible gold noticed. In respect to gravity gold the recent trial processing in 2014 indicated 40-50 % gravity recovery of the gold prior to flotation.
Historical Development
The Mineralised outcrop at the surface represented the commencement of mining by way of small open pit prior to the year 2000. In 2014 a development drive was undertaken below the excavated pit to assess a bulk sample of 10,000 ton at 9 g/t Au processed.
Golden Jubilee Strike = 200 m local to 5 km regional
Known Depth = 60 m
Historic Widths = 0.5 to 6 m
The Golden Jubilee Vein is considered the primary drill target on the Property , though extensions and parallel veins have been identified for exploration follow up.
The Golden Jubilee mine development extends 200 m along strike and 40 metres below the surface level with modern development on the vein.
Source: NI 43-101 2013 and more recent information
Next Steps
Transatlantic recently completed an Exploration permit to commence drilling at the project . This will continue in concert with further technical studies and evaluations including geophysical targeting