Maritime Resources samples 49 g/t gold over 0.4 metres at Hammerdown, Newfoundland
Maritime Resources Corp. [TSXV: MAE; OTC Pink: MRTMF] released results of additional surface sampling at the Hammerdown gold 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 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 g/t gold over 0.3 metre.
Outcrop chip samples collected from the O-Vein averaged 0.4 m and returned a weighted average of 49 g/t Au over a strike length of 45 m, including 82.7 g/t Au over a strike length of 20 m.
Confirmatory sampling of the Rumbullion veins — R1, R2 and R2A — returned grades of 59.9 g/t Au, 112 g/t Au and 55.4 g/t 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 wire frames.
“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 45 metres of strike length grading 49 g/t gold over 0.4 metres. 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,” commented Garett Macdonald, president and CEO.
“We are completing a set of predevelopment programs at Hammerdown, including confirmatory metallurgical testing, grade control drilling, surface trenching and detailed mine planning. Work to bring the Pine Cove mill back on-line is well under way, 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.”
The recent trenching program at Hammerdown 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 eight-bench open-pit bulk sample at Hammerdown that produced 19,300 tonnes grading 14.3 g/t 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 97.5% mill recovery. The trenching results announced here, including 49 g/t Au with an average width of 0.4 m over a strike length of 45 m on the O-Vein immediately north of the Richmont bulk sample area, lie within the proposed first stage of open-pit mining and highlight the ease of accessibility, thin overburden cover and the consistent high-grade nature of the gold mineralization.
To the east, samples taken from the Rumbullion veins (R1, R2 and R2A) returned high grades, including 59.9 g/t Au, 112 g/t Au and 55.4 g/t Au, respectively, highlighting the near-surface potential in the eastern section of the proposed open pit. The information gathered from this program will greatly aid in supporting near-term planning for early mining activities.
Maritime holds a 100% interest directly and subject to option agreements, entitling it to earn 100% ownership in the Green Bay property, which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km2 of exploration land, including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit. The company also owns the Lac Pelletier gold project in Rouyn-Noranda, Quebec.