March 3, 2018 ~ Maritime Resources, the Vancouver-based company looking at reopening Hammerdown mine near King’s Point, has raised an additional $1,212,754 through private stock sales.
Maritime had been looking to raise $2,000,000. The TSX Venture Exchange granted the company a deadline extension so the company can raise the remaining $800,000.
Maritime has stated that the funds “will be used to advance the Company’s 100% owned Hammerdown Mine project as well as the Whisker Valley project in Newfoundland and for general working capital and corporate purposes.“
A 3,000 metre drill program at Hammerdown and Whisker projects is expected to start this winter.
Permitting continues for the Hammerdown mine project. Doug Fulcher, President and CEO, publicly stated exactly one year ago that “we expect that we can see production happening within the next two years“, which would put Hammerdown mine, located off route 391 to King’s Point, reopening in 2019.
Image at top: The entrance to Hammerdown mine. Rock waste was removed from the entrance in late 2017. The mine will be dewatered this year. [Maritime Resources photo]
Read MORE on Hammerdown mine and Whisker Valley, on greenbayfeed.com’s Local Mining News