Company Continuing to Find High Grade Gold Near Green Bay NL

Hammerdown Mine owner reports more positive results in this area

Company Continuing to Find High Grade Gold Near Green Bay NL

February 13, 2018 ~ Vancouver-based exploration company Maritime Resources today announced the last of the high grade gold results from its 2017 work program at the Whisker Valley Project.

The company stated they are continuing to see some very high-grade gold assays, similar to the positive results reported in earlier news releases.

Whisker Valley is located between King’s Point/Rattling Brook and Baie Verte road. Work carried out on the Whisker Project in the fall of 2017 identified three veins.

Maritime says the veins have a high-grade nature and the company has previously reported “significant visible gold within the vein system”.

Doug Fulcher, Maritime’s President, recently commented:

“We acquired the Whisker Valley Project less than one year ago and our first program on the project has demonstrated continuous high-grade gold assays similar to what we have seen at our signature Hammerdown project. We look forward to continuing an aggressive exploration program on Whisker in 2018, which will include geophysical surveys, further trenching and prospecting, as well as a drill program is expected to start in March 2018. This will be done in conjunction with continuing work program at our Hammerdown project to aggressively advance our development plan as well as expanding our blue sky exploration agenda on Hammerdown, Orion and Rumbullion.”

Whisker Valley veins ~ Maritime Resources image

Some of the recently released results: Assays from the Jackson Vein returned composited grades of 10.22 g/t Au over a strike length of 23.75 metres, as well as 3.59 g/t Au over a strike length of 26.25 metres. Assays from several tension gash veins returned assays of 15.73 g/t Au over 0.30 metres, 3.78 g/t Au over 0.36 metres and 20.38 g/t Au over 0.15 metres. Assays of the easterly extension of the Ben 2 Vein returned composited grades of 4.25 g/t Au over a strike length of 13.00 metres, 2.02 g/t Au over a strike length of 22.50 metres, 4.69 g/t Au over a strike length of 5 metres and 1.34 g/t Au over a strike length of 17.50 metres.

hammerdown mine entrance nl
Entrance to the Hammerdown Mine. The entrance was opened in late 2017. Maritime is working towards moving the mine to production within the next two years ~ Maritime Resources Photo

It was big news for Green Bay when Maritime announced early in 2017 that a study successfully showed that the Hammerdown site, located off King’s Point road, could be a viable gold mining operation with a short time line to production start.

Hammerdown mine is anticipated to reopen within 2 years.

In November 2017, waste rock was removed and the mine entrance was opened so that the underground infrastructure would be accessible for evaluation. An experienced Project Manager has been hired to oversee “the exploration and development to bring the Hammerdown Gold Mine Project back to production”. He will also oversee Whisker Valley. The two projects are about 10 kilometres from each other and are said to be connected by an access road. Water samples from the Hammerdown site have shown clean water with neutral pH and no elevated contaminants. The mine itself will be dewatered this year.

Maritime Resources has scooped up considerable interest in the Green Bay/Baie Verte Peninsula area. Maritime optioned the Whisker property early in 2017. The Whisker Valley property was twice expanded in 2017. On October 25th, Maritime announced it optioned the El Strato Property which sits on the west side of the Whisker Hill Project. Maritime reported on December 13th it concluded an option agreement for a 100% interest in the Strugglers Pond property, located in the Whisker Valley area.

On December 15, 2017 Maritime announced a non-brokered private placement (sale of common shares) in order to raise up to $2,000,000. The deadline for the private placement has recently been extended. In September Maritime announced it raised just over $1,000 000 in the same manner. Proceeds from these financing efforts will go to general working capital and to move the Hammerdown Mine and Whisker Valley projects forward.

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