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Maritime Resources Corp.
Summary
| Project: | Green Bay | |
|---|---|---|
| Deposit: | Hammerdown | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-3-2017: Maritime Resources Corp. announces a Pre-Feasibility Study report for its Hammerdown deposit at the Green Bay project. Updated Resources and Reserves + Prefeasibility and Economic Assessment results. The Green Bay Property (‘the Property’) is lo | |
| Resources: | (Reserve, P+P): 700.6kt @ 7.96g/t Au for 179.4koz Au contained at Hammerdown | |
| CP/QP: | [Resources]: Todd McCracken (WSP Canada Inc.) | |
| ABSTRACT: | The Green Bay Property (‘the Property’) is located approximately 5 km southwest of the Town of King’s Point and approximately 15 km northwest of the Town of Springdale in north central Newfoundland. The property is comprised of the past producing Hammerdown Gold Mine including the Rumbullion and Muddy Shag deposit and, separately, the Orion deposit. Maritime Resources Corp. (Maritime) owns 100% of the rights to the Property claims and mining lease. Maritime’s land holdings in the area comprise eleven map-staked licenses consisting of 204 claim units and a mining lease, for a total combined area of 5,045.65 ha. WSP Canada Inc. (WSP) was commissioned by Maritime in March 2016 to complete a Pre-feasibility mine design on the economic viability of restarting the Hammerdown deposit, and a technical report on the Property. The Orion deposit is not part of the Pre-feasibility Study (PFS) and remain as mineral resources. WSP has prepared this report in accordance with National Instrument 43-101 (NI 43-101) Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) guidelines (CIM, 2014). All activities have been completed to pre-feasibility study level. Based on the results of the economic model and weighting the risks and opportunities, WSP recommends that Maritime continue with advanced studies for the Hammerdown Project. | |
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