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Maritime Resources Corp.
Summary
| Project: | Green Bay | |
|---|---|---|
| Deposit: | Hammerdown | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/2/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-3-2020: Maritime Resources Corp. announces a PEA report for its Hammerdown deposit at the Green Bay project. PEA results incl. after-tax NPV (5%) of C$111.3M and IRR of 50.5%. Toronto, Ontario--(Newsfile Corp. - February 29, 2020) - Maritime Resources ( | |
| Resources: | (Resources, M+I): 1.7Mt @ 6.65g/t Au (Pit Constrained) & 1.15Mt @ 4.13g/t Au (Underground) | |
| CP/QP: | [Overall Report]: Todd McCracken, Larry Pilgrim (WSP Canada Inc.;Internal) | |
| ABSTRACT: | Toronto, Ontario--(Newsfile Corp. - February 29, 2020) - Maritime Resources (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce results from a Preliminary Economic Assessment ("PEA") completed for the Hammerdown gold project ("Hammerdown", or the "Project"), including the satellite Orion deposit, located in the Baie Verte mining district of Newfoundland and Labrador near the towns of King's Point and Springdale. The PEA was prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The PEA provides an updated resource estimate and a base case assessment of developing the Project as a combined open pit and underground ramp-access mine (the "Combined Project")with an on-site gold pre-concentration plant and mineral processing through the Nugget Pond mill gold circuit. The PEA replaces the April 2017 Pre-feasibility Technical Report that was filed on SEDAR which is no longer current. A current PEA Technical Report will be filed on SEDAR under the Company's profile within 45 days of the date of this news release. All financial figures are presented in Canadian dollars (C$) unless otherwise noted. | |
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