Maritime Drills 41.6 gpt Gold over 6.3 Metres Including 127.5 gpt Gold over 2 Metres at Its Hammerdown Gold Project
Maritime Resources Corp. (MRTMF) has announced significant drill results from its Hammerdown Gold Project in Newfoundland and Labrador. Key findings include 41.6 grams per tonne (gpt) gold over 6.3 metres, including 127.5 gpt gold over 2.0 metres in drill hole HDGC-24-038, and 11.1 gpt gold over 13.1 metres in hole HDGC-24-006.
The grade control drill program, executed by Springdale Forest Resources, has completed 151 holes totaling 4,705 metres out of a planned 7,675 metres across 268 holes. The drilling confirms high-grade gold mineralization near surface and validates the location of historic underground workings. The company's Pine Cove processing plant is being recommissioned and will begin processing existing stockpiled material in the coming weeks.
Maritime Resources Corp. (MRTMF) ha annunciato risultati significativi dalle sue perforazioni nel progetto Hammerdown Gold in Newfoundland e Labrador. I risultati chiave includono 41,6 grammi per tonnellata (gpt) di oro su 6,3 metri, compresi 127,5 gpt di oro su 2,0 metri nel foro di perforazione HDGC-24-038, e 11,1 gpt di oro su 13,1 metri nel foro HDGC-24-006.
Il programma di perforazione per il controllo del grado, eseguito da Springdale Forest Resources, ha completato 151 fori per un totale di 4.705 metri su un piano di 7.675 metri distribuiti su 268 fori. Le perforazioni confermano l'alta mineralizzazione aurifera vicino alla superficie e validano la posizione dei lavori sotterranei storici. L'impianto di trattamento Pine Cove dell'azienda è in fase di riammodernamento e inizierà a elaborare il materiale accumulato esistente nelle prossime settimane.
Maritime Resources Corp. (MRTMF) ha anunciado resultados significativos de perforación de su proyecto Hammerdown Gold en Newfoundland y Labrador. Los hallazgos clave incluyen 41,6 gramos por tonelada (gpt) de oro en 6,3 metros, incluyendo 127,5 gpt de oro en 2,0 metros en el pozo de perforación HDGC-24-038, y 11,1 gpt de oro en 13,1 metros en el pozo HDGC-24-006.
El programa de perforación de control de grado, ejecutado por Springdale Forest Resources, ha completado 151 pozos que totalizan 4,705 metros de los 7,675 metros planificados a través de 268 pozos. La perforación confirma la mineralización aurífera de alta ley cerca de la superficie y valida la ubicación de los trabajos subterráneos históricos. La planta de procesamiento Pine Cove de la compañía está en proceso de reacondicionamiento y comenzará a procesar el material acumulado existente en las próximas semanas.
Maritime Resources Corp. (MRTMF)는 뉴펀들랜드 및 래브라도의 해머다운 금 프로젝트에서 중요한 드릴 결과를 발표했습니다. 주요 발견 사항은 6.3미터에서 톤당 41.6그램(gpt)의 금과 HDGC-24-038 드릴 홀에서의 2.0미터에서 127.5 gpt 금, 그리고 HDGC-24-006 홀에서 13.1미터에 걸쳐 11.1 gpt 금입니다.
Springdale Forest Resources에 의해 수행된 등급 관리 드릴 프로그램은 268개의 홀에 걸쳐 계획된 7,675 미터 중 4,705 미터의 151홀을 완료했습니다. 이 드릴링은 표면 근처의 고품질 금 광물화를 확인하고 역사적인 지하 작업의 위치를 검증합니다. 회사의 파인 코브 가공 공장은 재가동 중이며 향후 몇 주 내에 기존에 적재되어 있는 자재의 가공을 시작할 것입니다.
Maritime Resources Corp. (MRTMF) a annoncé des résultats de forage significatifs de son projet Hammerdown Gold à Terre-Neuve-et-Labrador. Les résultats clés incluent 41,6 grammes par tonne (gpt) d'or sur 6,3 mètres, y compris 127,5 gpt d'or sur 2,0 mètres dans le trou de forage HDGC-24-038, et 11,1 gpt d'or sur 13,1 mètres dans le trou HDGC-24-006.
Le programme de forage de contrôle de qualité, exécuté par Springdale Forest Resources, a complété 151 trous totalisant 4 705 mètres sur un total prévu de 7 675 mètres répartis sur 268 trous. Le forage confirme une haute minéralisation aurifère près de la surface et valide l'emplacement des travaux souterrains historiques. L'usine de traitement Pine Cove de l'entreprise est en cours de remise en service et commencera à traiter le matériel stocké existant dans les semaines à venir.
Maritime Resources Corp. (MRTMF) hat bedeutende Bohrergebnisse aus ihrem Hammerdown Gold Projekt in Neufundland und Labrador bekannt gegeben. Wichtige Ergebnisse umfassen 41,6 Gramm pro Tonne (gpt) Gold über 6,3 Meter, einschließlich 127,5 gpt Gold über 2,0 Meter im Bohrloch HDGC-24-038 und 11,1 gpt Gold über 13,1 Meter im Bohrloch HDGC-24-006.
Das Programm zur Gehaltskontrolle, das von Springdale Forest Resources durchgeführt wurde, hat 151 Löcher mit insgesamt 4.705 Metern von geplanten 7.675 Metern aus 268 Löchern abgeschlossen. Die Bohrungen bestätigen hochgradige Goldmineralisierung in der Nähe der Oberfläche und validieren die Lage historischer unterirdischer Stollen. Die Aufbereitungsanlage Pine Cove des Unternehmens wird wieder in Betrieb genommen und wird in den kommenden Wochen mit der Verarbeitung des vorhandenen Materialbestands beginnen.
- High-grade gold intersections with 41.6 gpt Au over 6.3m, including 127.5 gpt Au over 2.0m
- Processing plant recommissioning nearly complete, enabling near-term cash flow
- Drilling confirms additional gold mineralization outside 2022 feasibility study
- Excellent reconciliation of historic underground workings positions
- None.
Toronto, Ontario--(Newsfile Corp. - January 27, 2025) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce initial drill results from a definition drill program underway at its Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale.
Highlights:
41.6 grams per tonne ("gpt") gold ("Au") over 6.3 metres, including 127.5 gpt Au over 2.0 metres in drill hole HDGC-24-038 with rare sub-millimetre visible gold
11.1 gpt Au over 13.1 metres, including 24.3 gpt Au over 3.3 metres in drill hole HDGC-24-006
6.8 gpt Au over 17.0 metres, including 30.6 gpt Au over 2.0 metres in drill hole HDGC-25-104
26.0 gpt Au over 0.7 metres in drill hole HDGC-24-003
17.4 gpt Au over 1.0 metres in drill hole HDGC-24-015
44.5 gpt Au over 0.2 metres in drill hole HDGC-24-004
"The grade control drill program is providing additional geological information within the first year of proposed mining at the Hammerdown open pit project and is one of the final de-risking steps as we prepare for development," comments Garett Macdonald, President and CEO. "The high-grade gold mineralization occurs just below surface and demonstrates the potential to generate significant cash flow quickly from the project. Work to recommission our Pine Cove processing plant is well advanced which will begin processing existing stockpiled material in the next couple of weeks. Having an operational process plant provides a clear, low capital cost path to cash flow for the Company."
Discussion of Results
The mineralized zone seen in drill hole HDGC-24-038 returned 41.6 gpt Au over 6.3 metres, including 127.5 gpt Au over 2.0 metres with typical Hammerdown style quartz veining and pyrite. This zone is located approximately 30 metres south of the historic Hammerdown underground mine workings in an area that was never mined by Richmont and is open to the north-east where there is potential to expand the mineral resource. Deeper in the same hole another interval grading 3.5 gpt Au over 3.0 metres was collected resembling the nearby Wisteria zone, characterized as a thick zone of quartz feldspar porphyry mineralization with finely disseminated pyrite. This zone is also open at depth and along strike and represents another area of potential mineral resource expansion. Closer to the core of the deposit hole HDGC-24-006 intersected 11.1 gpt Au over 13.1 metres, including 24.3 gpt Au over 3.3 metres below the historic open pit bulk sample area within the existing underground crown pillar, further confirming the presence of high-grade mineralization immediately below surface.
Grade Control Drilling
The drill program is being completed by local drilling contractor Springdale Forest Resources and totals 7,675 metres in 268 drill holes designed to intersect the sub vertical mineralization on a 10m x 10m staggered pattern with the intent of maximizing future ore extraction while minimizing ore losses and dilution. To date 151 holes totalling 4,705 metres have been drilled at Hammerdown with 3 diamond drill rigs currently operating. Drilling began in the southwest corner of the proposed starter pit which includes more waste rock than the core of the deposit. The waste block drilling reported no significant gold values (NSV).
The drill program is also confirming the location of the historic underground workings which were developed by Richmont Mines between 2000-2004. To date, the drilling has shown excellent reconciliation of the workings' positions to the three-dimensional mine model and is also confirming the presence of gold mineralization around the edges of the stopes that was not included in the 2022 feasibility study, representing another area of potential upside. The drill program is planned to be completed in early February followed by the remaining assay results which will be used to refine the detailed mine plan.
Figure 1. Plan View
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Figure 2. Hammerdown Deposit Cross Section
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Figure 3. Core Photo - Drill Hole HDGC-24-038, interval 3.7m to 19.0m
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Table 1. Assay Results
| Hole ID | From | To | Interval | Au gpt |
| HDGC-25-104 | 26.00 | 43.00 | 17.00 | 6.83 |
| incl. | 41.00 | 43.00 | 2.00 | 30.56 |
| HDGC-24-038 | 3.70 | 10.00 | 6.30 | 41.64 |
| incl. | 8.00 | 10.00 | 2.00 | 127.53 |
| and | 16.00 | 19.00 | 3.00 | 3.47 |
| HDGC-24-034 | 3.00 | 10.00 | 7.00 | 2.31 |
| incl. | 9.00 | 10.00 | 1.00 | 12.59 |
| HDGC-24-032 | 7.00 | 12.00 | 5.00 | 2.23 |
| HDGC-24-031 | 11.00 | 16.00 | 5.00 | 0.92 |
| HDGC-24-029 | 20.00 | 31.00 | 11.00 | 1.09 |
| HDGC-24-025 | 29.00 | 34.00 | 5.00 | 1.00 |
| HDGC-24-024 | 12.00 | 13.00 | 1.00 | 2.85 |
| HDGC-24-019 | 2.20 | 4.00 | 1.80 | 1.66 |
| HDGC-24-015 | 9.00 | 10.00 | 1.00 | 17.38 |
| HDGC-24-014 | 12.00 | 13.00 | 1.00 | 3.28 |
| HDGC-24-010 | 1.90 | 3.00 | 1.10 | 3.77 |
| HDGC-24-009 | 35.00 | 37.00 | 2.00 | 1.41 |
| HDGC-24-008 | 4.88 | 38.74 | 29.70 | 1.29 |
| incl. | 18.64 | 22.39 | 3.75 | 4.91 |
| HDGC-24-007 | 32.40 | 35.30 | 2.90 | 1.50 |
| HDGC-24-006 | 16.36 | 17.33 | 0.97 | 4.46 |
| and | 33.56 | 40.72 | 7.16 | 14.50 |
| incl. | 37.00 | 40.72 | 3.72 | 21.53 |
| and | 43.68 | 44.69 | 1.01 | 40.87 |
| HDGC-24-005 | 30.43 | 30.63 | 0.20 | 16.37 |
| HDGC-24-004 | 27.51 | 27.71 | 0.20 | 44.45 |
| HDGC-24-003 | 41.02 | 41.72 | 0.70 | 25.99 |
| HDGC-24-039 | nsv | |||
| HDGC-24-040 | nsv | |||
| HDGC-24-030 | nsv | |||
| HDGC-24-028 | nsv | |||
| HDGC-24-027 | nsv | |||
| HDGC-24-026 | nsv | |||
| HDGC-24-022 | nsv | |||
| HDGC-24-021 | nsv | |||
| HDGC-24-020 | nsv | |||
| HDGC-24-018 | nsv | |||
| HDGC-24-017 | nsv | |||
| HDGC-24-016 | nsv | |||
| HDGC-24-013 | nsv | |||
| HDGC-24-012 | nsv | |||
| HDGC-24-011 | nsv | |||
| *no significant values ("nsv") | ||||
Table 2. Drill Hole Data
| Hole number | Azimuth | Dip | Depth | NORTHING | EASTING | ELEVATION |
| HDGC-24-003 | 180.00 | - 45.00 | 66.00 | 5,489,159.75 | 554,870.44 | 193.26 |
| HDGC-24-004 | 180.00 | - 42.00 | 34.00 | 5,489,159.26 | 554,859.32 | 192.78 |
| HDGC-24-005 | 180.00 | - 45.00 | 51.15 | 5,489,149.27 | 554,871.07 | 194.86 |
| HDGC-24-006 | 180.00 | - 40.00 | 60.38 | 5,489,137.56 | 554,870.43 | 196.37 |
| HDGC-24-007 | - | - 50.00 | 44.40 | 5,489,085.08 | 554,829.83 | 192.70 |
| HDGC-24-008 | - | - 50.00 | 39.10 | 5,489,088.37 | 554,860.60 | 187.85 |
| HDGC-24-009 | 180.00 | - 60.00 | 40.00 | 5,489,091.74 | 554,789.81 | 190.51 |
| HDGC-24-010 | 180.00 | - 60.00 | 34.00 | 5,489,082.37 | 554,790.18 | 191.99 |
| HDGC-24-011 | 180.00 | - 60.00 | 28.00 | 5,489,072.51 | 554,790.16 | 192.67 |
| HDGC-24-012 | 180.00 | - 60.00 | 19.00 | 5,489,063.11 | 554,790.17 | 193.34 |
| HDGC-24-013 | 180.00 | - 60.00 | 13.00 | 5,489,053.64 | 554,790.15 | 193.73 |
| HDGC-24-014 | 180.00 | - 60.00 | 46.00 | 5,489,086.49 | 554,799.84 | 191.09 |
| HDGC-24-015 | 180.00 | - 60.00 | 34.00 | 5,489,077.06 | 554,800.20 | 191.96 |
| HDGC-24-016 | 180.00 | - 60.00 | 31.00 | 5,489,068.33 | 554,800.17 | 192.95 |
| HDGC-24-017 | 180.00 | - 60.00 | 28.00 | 5,489,058.31 | 554,800.05 | 193.64 |
| HDGC-24-018 | 180.00 | - 60.00 | 22.00 | 5,489,048.66 | 554,800.16 | 194.05 |
| HDGC-24-019 | 180.00 | - 60.00 | 40.00 | 5,489,082.23 | 554,810.23 | 191.54 |
| HDGC-24-020 | 180.00 | - 60.00 | 37.00 | 5,489,072.68 | 554,809.94 | 192.91 |
| HDGC-24-021 | 180.00 | - 60.00 | 28.00 | 5,489,062.74 | 554,810.02 | 193.26 |
| HDGC-24-022 | 180.00 | - 60.00 | 19.00 | 5,489,053.66 | 554,810.12 | 193.60 |
| HDGC-24-024 | 180.00 | - 60.00 | 37.00 | 5,489,078.01 | 554,820.08 | 192.76 |
| HDGC-24-025 | 180.00 | - 60.00 | 34.00 | 5,489,067.83 | 554,820.00 | 193.08 |
| HDGC-24-026 | 180.00 | - 60.00 | 25.00 | 5,489,058.29 | 554,819.92 | 193.64 |
| HDGC-24-027 | 180.00 | - 60.00 | 16.00 | 5,489,048.52 | 554,819.80 | 194.51 |
| HDGC-24-028 | 180.00 | - 60.00 | 16.00 | 5,489,038.77 | 554,820.28 | 194.86 |
| HDGC-24-029 | 180.00 | - 60.00 | 31.00 | 5,489,073.26 | 554,829.82 | 193.28 |
| HDGC-24-030 | 180.00 | - 60.00 | 22.00 | 5,489,064.11 | 554,829.89 | 193.66 |
| HDGC-24-031 | 180.00 | - 60.00 | 16.00 | 5,489,053.78 | 554,830.09 | 194.71 |
| HDGC-24-032 | 180.00 | - 60.00 | 13.00 | 5,489,059.06 | 554,840.03 | 194.03 |
| HDGC-24-034 | 180.00 | - 60.00 | 13.00 | 5,489,063.03 | 554,849.87 | 193.57 |
| HDGC-24-038 | 180.00 | - 60.00 | 19.00 | 5,489,067.72 | 554,839.93 | 192.99 |
| HDGC-24-039 | 180.00 | - 60.00 | 19.00 | 5,489,067.62 | 554,860.34 | 192.97 |
| HDGC-24-040 | 180.00 | - 60.00 | 7.00 | 5,489,054.25 | 554,870.86 | 195.10 |
| HDGC-25-104 | 180.00 | - 45.00 | 46.00 | 5,489,131.71 | 554,860.04 | 197.04 |
Qualified Person
Exploration activities at the Hammerdown Gold Project are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.
Analytical Procedures
All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime Resources. Samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately
About Maritime Resources Corp.
Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a
On Behalf of the Board:
Garett Macdonald, MBA, P.Eng.
President and CEO
Phone: (416) 365-5321
info@maritimegold.com
www.maritimeresourcescorp.com
Caution Regarding Forward-Looking Statements:
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include, but are not limited to, statements concerning the Hammerdown mineralization, its' metallurgical response, precious metal extraction based on the ongoing metallurgical testwork, sampling programs, the Project's strong environmental attributes, new opportunities to generate cash flows and add value for shareholders, estimating contained gold in and generating cash flow from mineralized stockpiles and tailings material at the Point Rousse project, estimated all-in sustaining costs, estimated project capital costs, first production being achieved at the Project, provision of additional employment and business opportunities in the region, and ability of the Company to engage with local service providers, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision and executing exploration programs on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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FAQ
What are the latest gold drilling results from Maritime Resources (MRTMF) at Hammerdown?
How many drill holes has MRTMF completed in the current Hammerdown program?
When will MRTMF's Pine Cove processing plant begin operations?
What is the significance of MRTMF's grade control drilling program at Hammerdown?
