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Maritime Resources Corp.
Summary
| Project: | Green Bay | |
|---|---|---|
| Deposit: | Hammertime | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/11/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 11-7-2019: Maritime Resources Corp. announces an Exploration/Drilling Update report for its Hammertime deposit at the Green Bay project. Drilling results incl. 1.20m @ 21.24g/t Au from 70.30m. Toronto, Ontario--(Newsfile Corp. - July 11, 2019) - Maritime | |
| Resources: | (Resource, M+I): 925.67Kt @ 10.6g/t Au at Hammerdown | |
| CP/QP: | [Overall Report]: Larry Pilgrim (Internal) | |
| ABSTRACT: | Toronto, Ontario--(Newsfile Corp. - July 11, 2019) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce the assay results on 18 diamond drill infill holes completed at the Company's high-grade 100%-owned Hammerdown gold project near the town of King's Point in the Baie Verte Mining District, Newfoundland & Labrador. The 2019 infill program has been completed with a total of 19 diamond drill holes for 3,562 metres within the Hammerdown and Rumbullion deposit areas (Figure 1). The purpose of the 2019, and 2018, infill programs was to fill in specific gaps in the data in order to convert additional resources into the higher confidence Measured & Indicated categories from Inferred. The 2019 drilling of the inferred resources at the Hammerdown gold deposit was successful in defining the continuity of a number of the gold veins in the hangingwall and footwall to the historical mining, as well as continuity of the vein system below the mined-out areas. It is important to note as well that the 2019 drilling also intersected an intensely altered and mineralized unit referred to as a sheared felsic volcanic (SFV). The SFV unit was also sampled in the 2018 drilling campaign and returned gold grades up to 3.54 g/t gold over 2.63 meters (See Maritime Press release June 4 th ., 2018). These lower grade intersections are significant in that they are close to surface, historically this unit was overlooked and not included in the mineral resources and may add additional ounces to the current Hammerdown resource. Garett Macdonald, Maritime President & CEO, adds "Combined with the 2018 infill program we have 50 newinfill drill holes totaling 5,294 metres that will inform an updated resource model for the Hammerdown gold project. The holes reported here successfully intersected a number of high-grade gold in sulphide/quartz veins at depths down to 250 metres vertical. In some cases, we encountered an intensely altered mineralized unit that was not adequately sampled in the year's when the mine was operated by Richmont Mines, when a mine cut-off-grade of 8.0 gpt Au was used. At current gold prices this type of mineralization may become an important part of any future mine plan". | |
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