May 16, 2018 ~ Inomin Mines and Maritime Resources have both announced today that Maritime has optioned mining property from Inomin.
Inomin’s property is two claims blocks adjacent to Maritime’s Green Bay property and totals 3,225 hectares.
The northern claim block is within 2 km of the Hammerdown gold deposit and likely sits, at least in part, within King’s Point town limits.
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Maritime’s news release stated “that it has concluded an Option to Purchase Agreement with Inomin Mines Inc. to earn a 100% interest in the King’s Point property. The claims cover geological extensions to the Company’s Hammerdown Gold deposit that host a number of high grade gold veins and base metal occurrences.”
Under the terms of the agreement Maritime can earn a 100% interest in Inomin’s King’s Point property over three years through spending $600,000 in exploration, cash payments of $300,000 to Inomin, and issuing 2,000,000 Maritime common shares to Inomin.
Inomin Mines President John Gomez stated:
“Maritime is an ideal home for King’s Point [property] given their development of the nearby Hammerdown gold deposit and extensive knowledge of the area. We look forward to seeing the property advanced in the coming years and hopefully eventually in Maritime’s development pipeline.”
The move to take on Inomin’s property comes as Maritime works to bring its Hammerdown mine back into production, and as Anaconda Mining makes an effort to take over Maritime. Anaconda recently made an offer to Maritime’s shareholders. Maritime’s Board has advised its shareholders to reject the offer.
In a May 16th news release, Maritime President Doug Fulcher commented:
“We are extremely pleased to have acquired this package of claims through our agreement with Inomin Mines Inc. With the known historical mineral occurrences on the King’s Point ground it adds to the overall potential of expanding our Hammerdown gold asset beyond the 4000 metre deformation zone […] It will be our intention to continue exploration at the King’s Point Property while the development of Hammerdown is underway.”
[Photo at top is a bought stock image]
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