- Maritime Resources (MAE) has begun a diamond drill exploration program at its Hammerdown Gold Project
- The 5,000-metre drill program is aimed at a series of shallow gold targets along a three-kilometre stretch of the Hammerdown trend between the Orion and Golden Anchor gold zones
- The Hammerdown mine is located in the Baie Verte mining district of Newfoundland and Labrador, near the Towns of King’s Point and Springdale
- Maritime Resources (MAE) is unchanged, trading at C$0.05 at 10:05 am ET
Maritime Resources (MAE) has begun a diamond drill exploration program at its Hammerdown Gold Project.
The 5,000-metre drill program is aimed at a series of shallow gold targets along a three-kilometre stretch of the Hammerdown trend between the Orion and Golden Anchor gold zones.
The Hammerdown mine is located in the Baie Verte mining district of Newfoundland and Labrador, near the Towns of King’s Point and Springdale. It is designed as a conventional truck and shovel open pit operation with one year of pre-production stripping and five years of subsequent mining.
The Golden Anchor zone is located northeast of the Hammerdown deposit and includes several high-grade quartz veins like the mineralization present in the core of the Hammerdown deposit.
Two kilometres southwest of Hammerdown is the Orion deposit, where three styles of mineralization are present, extending from surface to a depth of over 400 metres, where the deposit remains open.
The company’s President and CEO, Garett Macdonald, stated that the fall 2022 drill program follows on the positive feasibility study for the Hammerdown Gold Project and this summer’s discovery of near-surface gold mineralization only 400 metres south of Hammerdown Deposit in a previously untested area called Area 22.
“The Maritime exploration team has expanded on the structural interpretation of the project area drawing on the extensive diamond drilling, trenching and geophysical data collected over the past three years. With our recently completed $3.7 million private placement financing and a $0.3 million royalty sale on the Lac Pelletier project, the company will test opportunities at Area 22, Orion and Golden Anchor to increase the mineral resource base and advance the remaining Hammerdown permitting.”
The Area 22 target is a new discovery that was identified this summer as part of a condemnation drilling program for the feasibility study. A wide, continuous zone of near-surface gold mineralization, consisting of both shear zone and quartz-feldspar-porphyry hosted mineralization, grading 0.76 gpt Au over 30.0m, was encountered in drill hole DC-22-02.
Maritime holds a 100 per cent interest- directly and subject to option agreements entitling it to earn 100 per cent ownership- in the Green Bay property.
Maritime Resources (MAE) is unchanged, trading at C$0.05 at 10:05 am ET.
