- Maritime Resources (MAE) initiates 2022 exploration drilling program
- The 3,000 metre diamond drill program is scheduled to begin in mid-February
- Recent site clearing and winter conditions provide access to highly prospective areas of the project
- Maritime’s advanced geological targeting process has identified several untested targets within the footprint of the overall Hammerdown Project area
- Maritime Resources Corp. (MAE) is in the grey, trading at C$0.12 at 1:08 pm EST
Maritime Resources (MAE) has started its 2022 exploration program at the Hammerdown Gold Project.
The Hammerdown project is located in the Baie Verte Mining District of Newfoundland and Labrador.
The 3,000-metre diamond drill program is scheduled to begin in mid-February. There are also multiple near-surface targets identified on-trend with Hammerdown and Orion gold deposits.
Recent site clearing and winter conditions provide access to highly prospective areas of the project.
“This year’s initial exploration program is centred around our existing Hammerdown and Orion deposits. We believe there is tremendous potential to add new resources in several untested areas adjacent to our 2020 Preliminary Economic Assessment project design,” commented Garett Macdonald, President and CEO.
“Over 25,000 m of diamond drilling were completed during the year from that program and assay results from 25 drill holes are expected to be received later this month,” added Macdonald.
The 3,000 m diamond drill program will focus on high-priority gold targets adjacent to the Hammerdown and Orion deposits as well as at untested exploration targets within several kilometres of the deposits.
Maritime’s advanced geological targeting process has identified several untested targets within the footprint of the overall Hammerdown Project area.
The targeting process systematically reviewed recent VTEM, ZTEM and gradient airborne magnetic surveys along with the integration of all historical exploration data.
All drilling data were compiled with the latest geophysical and geochemical work and incorporated into a 3D Whole Earth Model to identify high-priority brownfield targets. In reviewing the legacy data that resulted in the original discovery of the deposit, additional brownfield targets and potential extensions have been defined.
Its new interpretation of the structural geology, folding and faulting in the region can potentially provide new possibilities for resource expansion and new discoveries which could be quickly incorporated in future mine planning.
Drilling at this time of year is particularly beneficial as the company can take advantage of enhanced accessibility due to frozen winter conditions and 50 hectares of the recent clearing.
All required exploration permits are in place and a local drilling contractor has begun to mobilize crews and equipment.
“Our focus now is to systematically explore favourable targets directly on the doorstep of the existing gold deposits and to add to our resource base for the Project,” stated Jeremy Niemi, PGeo, Technical Advisor, Exploration.
Sample assays are pending for 25 diamond drill holes from the fall 2021 drilling season. Due to the backlog of exploration samples in assay labs across the country, there is a longer turnaround time for assays.
Assays pending for the Whisker Valley, Gull Ridge and Green Bay Projects are expected to be received later this month.
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.
This includes the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King’s Point, Newfoundland and Labrador.
Maritime Resources Corp. (MAE) is in the grey, trading at C$0.12 at 1:08 pm EST.
