Maritime Trench Sampling at Hammerdown Returns 49 gpt Gold Over 0.4 Metres Width Along a Strike Length of 45 Metres
Maritime Resources has announced significant results from surface sampling at the Hammerdown Gold Project in Newfoundland and Labrador. The shallow trenching program revealed high-grade gold mineralization, with five veins across two trenching areas averaging 56 gpt Gold over 0.3m. Notable results include the O-Vein, which averaged 49 gpt Au over 0.4m across a 45m strike length, and the Rumbullion Veins (R1, R2, R2A) returning grades of 59.9, 112, and 55.4 gpt Au respectively. The sampling supports detailed mine planning work for the project, which has completed major permitting and access to the existing Pine Cove mill facility.
Maritime Resources ha annunciato risultati significativi dal campionamento di superficie presso il Hammerdown Gold Project in Newfoundland e Labrador. Il programma di scavo superficiale ha rivelato mineralizzazione di oro di alta qualità, con cinque vene in due aree di scavo che presentano una media di 56 gpt di oro su 0,3 m. I risultati notevoli includono la vena O, che ha registrato in media 49 gpt di Au su 0,4 m lungo un esteso di 45 m, e le vene Rumbullion (R1, R2, R2A) che hanno restituito gradi di 59,9, 112 e 55,4 gpt di Au rispettivamente. Il campionamento supporta il lavoro di pianificazione mineraria dettagliata per il progetto, che ha completato importanti permessi e accesso alla struttura esistente del mulino Pine Cove.
Maritime Resources ha anunciado resultados significativos del muestreo superficial en el Hammerdown Gold Project en Terranova y Labrador. El programa de zanjas superficiales reveló mineralización de oro de alta calidad, con cinco vetas en dos áreas de zanjado que promedian 56 gpt de oro sobre 0.3 m. Los resultados notables incluyen la Veta O, que promedió 49 gpt de Au sobre 0.4 m a lo largo de un strike de 45 m, y las Vetas Rumbullion (R1, R2, R2A) que devolvieron grados de 59.9, 112 y 55.4 gpt de Au respectivamente. El muestreo apoya el trabajo detallado de planificación minera para el proyecto, que ha completado los permisos principales y el acceso a la instalación existente del molino Pine Cove.
Maritime Resources는 뉴펀들랜드와 래브라도에 있는 Hammerdown Gold Project에서 표면 샘플링 결과가 유의미하다고 발표했습니다. 얕은 도랑 파기 프로그램에서 높은 품질의 금 광물화가 밝혀졌으며, 두 개의 도랑 지역에서 평균 0.3m에 걸쳐 56 gpt의 금을 포함하는 다섯 개의 띠가 발견되었습니다. 주목할 만한 결과로는 45m 길이에 걸쳐 평균 0.4m에서 49 gpt Au를 기록한 O-띠와 각각 59.9, 112, 55.4 gpt Au를 반환한 Rumbullion 띠(R1, R2, R2A)가 있습니다. 이 샘플링 결과는 프로젝트에 대한 자세한 광산 계획 작업을 지원하며, 주요 인허가를 완료하고 기존 Pine Cove 밀 시설에 접근했습니다.
Maritime Resources a annoncé des résultats significatifs issus d'échantillonnages de surface au Hammerdown Gold Project à Terre-Neuve et Labrador. Le programme de tranchées peu profondes a révélé une minéralisation aurifère de haute qualité, avec cinq veines dans deux zones de tranchées ayant une moyenne de 56 gpt d'or sur 0,3 m. Les résultats notables incluent la Veine O, qui a affiché une moyenne de 49 gpt d'Au sur 0,4 m sur une longueur de 45 m, et les Veines Rumbullion (R1, R2, R2A) ayant respectivement retourné des grades de 59,9, 112 et 55,4 gpt d'Au. L'échantillonnage soutient un travail détaillé de planification minière pour le projet, qui a complété les principales autorisations et l'accès à l'installation existante du moulin Pine Cove.
Maritime Resources hat bedeutende Ergebnisse aus Oberflächenprobenahmen im Hammerdown Gold Project in Neufundland und Labrador bekannt gegeben. Das flache Grabenprogramm offenbarte hochgradige Goldmineralisierung, mit fünf Adern in zwei Grabungsgebieten, die im Durchschnitt 56 gpt Gold über 0,3 m betragen. Bemerkenswerte Ergebnisse umfassen die O-Ader, die im Durchschnitt 49 gpt Au über 0,4 m entlang eines 45 m langen Streifens aufwies, und die Rumbullion-Adern (R1, R2, R2A), die Grade von 59,9, 112 und 55,4 gpt Au zurückgaben. Das Sampling unterstützt die detaillierte Mineplanung für das Projekt, das die wichtigsten Genehmigungen abgeschlossen und Zugang zur bestehenden Pine Cove-Mühle erhalten hat.
- High-grade gold mineralization discovered: 56 gpt Au over 0.3m average across five veins
- O-Vein showed exceptional results: 49 gpt Au over 0.4m across 45m strike length
- Shallow mineralization with thin overburden (1m) indicates potential for low-cost mining
- Project has completed major permitting
- Access to existing Pine Cove mill facility reduces capital requirements
- Project development still subject to financing
- sample width (0.3-0.4m) may impact mining economics
Toronto, Ontario--(Newsfile Corp. - November 27, 2024) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce results of additional surface sampling at the Hammerdown Gold Project ("Hammerdown" or the "Project") near the towns of King's Point and Springdale in the Baie Verte mining district of Newfoundland and Labrador. Hammerdown is an advanced stage, high grade gold development project that has all major permitting completed and has the benefit of access to the Company's existing Pine Cove mill facility. The additional surface sampling is being completed to support detailed mine planning work.
Highlights:
- Shallow trenching program exposed high grade gold mineralization within the core area of the Hammerdown deposit through thin overburden averaging one metre ("m") in thickness.
- Sampling of five veins across two trenching areas confirms exceptional grade hosted in a system of stacked sulphide rich quartz veins, averaging 56 grams per tonne ("gpt") Gold ("Au") over 0.3m.
- Outcrop chip samples collected from the O-Vein averaged 0.4m and returned a weighted average of 49 gpt Au over a strike length of 45m, including 82.7 gpt Au over a strike length of 20m.
- Confirmatory sampling of the Rumbullion Veins - R1, R2 and R2A, returned grades of 59.9 gpt Au, 112 gpt Au and 55.4 gpt Au, respectively.
- This trenching confirms the high grade tenor of the Hammerdown deposit as seen in the historical mining, but also the continuity and accuracy of the mineralized vein wireframes.
"It's very encouraging to see grades like this exposed on surface at Hammerdown where the impressive continuity of these vein systems is evident, especially the O-Vein with 45m of strike length grading 49 gpt Au over 0.4m. Having access to this mineralization early in the mine life provides the opportunity for low cost, high margin cash flow by leveraging our existing Pine Cove processing facility," comments Garett Macdonald, President and CEO. "We are completing a set of pre-development programs at Hammerdown including confirmatory metallurgical testing, grade control drilling, surface trenching and detailed mine planning. Work to bring the Pine Cove mill back online is well underway which will place Maritime in a position to capitalize on the very strong gold price, beginning with our mineralized stockpiles at Pine Cove and then, subject to financing, transitioning to our fully permitted Hammerdown project in 2025."
Discussion of Results
The recent trenching program at Hammerdown successfully exposed near-surface high grade gold mineralization adjacent to the historic bulk sample area. In 2000, prior to commencing underground mining operations at Hammerdown, Richmont Mines excavated an 8 bench open pit bulk sample at Hammerdown that produced 19,300 tonnes grading 14.3 gpt Au for 8,874 contained ounces. This material was trucked to the Nugget Pond hydromet circuit (now owned by Maritime) for processing, producing 8,652 ounces representing
Note 1: Richmont Mines 2000 Annual Report
Figure 1: Hammerdown Trenching Sample Locations
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Figure 2: Mineralization Exposed At Hammerdown - O Vein
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Figure 3: Plan view of Hammerdown trenching locations and samples
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Table 1: Sample locations, assay results
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Note: Surface samples, by their nature, are selective and may not represent underlying mineralization.
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
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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
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What were the Rumbullion Vein grades at Maritime Resources' (MRTMF) Hammerdown Project?
