Maritime drills 49.4 g/t gold over 2.6 metres at Hammerdown Gold Project, Newfoundland
Maritime Resources Corp. [TSXV: MAE; OTC: MRTMF] reported final drill results from a grade control drill program at the 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: 49.4 g/t gold over 2.6 metres, including 153.9 g/t Au over 0.6 etres in drill hole HDGC-25-235; 94.5 g/t Au over 0.2 metres in drill hole HDGC-25-265; 25.8 g/t Au over 0.8 metres, including 90.5 g/t Au over 0.2 metres in drill hole HDGC-25-251; 12.3 g/t Au over 1.0 metre, including 38.3 g/t Au over 0.3 metres in drill hole HDGC-25-244 and 5.1 g/t Au over 11.7 metres in drill hole HDGC-25-241 in backfill material.
Garett Macdonald, President and CEO, commented, “The final set of drill results from the grade control drilling program cover the Rumbullion zone, an area of narrow high grade quartz veins approximately 300 metres east of the core of the Hammerdown deposit. The grade control drilling program has demonstrated high grade gold mineralization at surface, the position of the historic mine workings, as well as the presence of gold mineralization within the backfilled stopes. Conclusion of the grade control program marks the successful achievement of another important de-risking step for the development of the Hammerdown Gold Project.”
The Rumbullion zone, located approximately 300 metres east of the core Hammerdown deposit, is interpreted as an eastern extension of the same mineralized system. It is characterized by a noticeable change in the orientation of the deposit to a SW-NE trend. Mineralization in the Rumbullion area is comprised of steeply dipping, shear-hosted quartz veins with associated sulfide and gold mineralization. While portions of the zone were historically mined by Richmont Mines between 2000-2004, significant areas remain underdeveloped. Recent drilling focused on this zone to improve definition and support future mine planning.
Notable assay results include drill hole HDGC-25-235 which returned 49.4 g/t Au over 2.6 metres, including 153.9 g/t Au over 0.6 metres, followed by a second lower vein and shear zone intersection returning 5.4 g/t Au over 1.2 metres, including 23.2 g/t Au over 0.2 metres.
This drill hole is located in close proximity to the historic underground mine workings and is representative of the style and grade of mineralization that was historically mined in the area. Drill hole HDGC-25-235 is located 11 metres west of previously reported hole HDGC-25-231 which returned 27.8 g/t Au over 0.9 metres. The intersection in hole HDGC-25-231 was significantly narrower than that in hole HDGC-25-235, due to faulting observed along the vein contact.
Other notable results include 25.8 g/t Au over 0.8 metres, including 90.5 g/t over 0.2 metres in drill hole HDGC-25-251, 12.3 g/t Au over 1.0 metre, including 38.3 g/t over 0.3 metres in drill hole HDGC-25-244 and 14.0 g/t Au over 0.7 metres, including 43.6 g/t over 0.2 metres in drill hole HDGC-25-237.
These three intersections are located approximately 20 m south of the historic mine development and are examples of the high-grade veins that were left unmined by previous operators due to the lower gold prices which resulted in higher historic mine cut-off grade at the time.
In addition, drill hole HDGC-25-241 intersected 5.1 g/t Au over 11.7 metres within backfilled stope material. The presence of gold in this material highlights the potential for additional recoveries from historically mined areas and could enhance early-stage production plans. The potential quantity and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain whether further exploration would result in the backfill material being delineated as a mineral resource.
The grade control drill program completed 8,460 metres of diamond drilling in 273 drill holes. The program was designed to intersect the sub vertical mineralization on a 10 m x 10 m staggered pattern to maximize future ore extraction while minimizing ore losses and dilution.
Maritime is 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 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.