More High Grade Gold Found Near Green Bay

“...there remain numerous opportunities to expand the reserve, expand the mine life...”

More High Grade Gold Found Near Green Bay

December 7, 2017 ~ Today Maritime Resources Corp. released more results from trenching and channel work at its Whisker Valley Project. These results come from a vein discovered during a trenching program on the property this fall.

The results announced today are from the ‘Gary Vein’. The Gary Vein is located at the easterly exposed portion of the vein system which includes the previously announced ‘Ben’ and ‘Jackson’ veins.

Maritime Resources image

Samples from the ‘Gary Vein returned a weighted average grade of 16.61 g/t gold. The most easterly sample provided grades of 25.67 g/t. The most westerly sample returned grades of 42.91 g/t. (More results are at the bottom of this webpage.)

In late November Maritime released some results from the Ben Vein. The Ben 1 vein returned a weighted average grade of 7.57 g/t gold. The Ben 2 vein returned a weighted average grade of 13.42 g/t gold.

Maritime says there are more results for the Jackson Vein and the Ben Vein, to be released soon.

Further trenching will be conducted in the spring of 2018, after planned drilling there this winter is finished.

Whisker is located between King’s Point and Baie Verte Road, approximately 10 kilometres from the company’s Hammerdown gold mine by access road. In March the company announced it had secured an agreement to explore the Whisker Valley property. On October 25th, Maritime announced it had expanded the property by optioning the El Strato Property.

Maritime Resources also holds 100% of the Green Bay Property, located near King’s Point. On the property is the Hammerdown Gold Mine, which Maritime is currently taking a serious look at bringing back into production. A well-experienced local project manager was taken on recently to oversee both the Hammerdown and Whisker projects. The entrance to the mine was opened up in November 2017, allowing for near future evaluation of the inner workings. Dewatering the mine is expected to start in 2018 and a 3,000-metre drilling program on the property is expected to start in February.

Hammerdown mine entrance. Maritime Resources photo.

Maritime’s December 7th news release stated:

“…there remain numerous opportunities to expand the reserve, expand the mine life and to reduce the planned development and capital costs. Maritime will continue to evaluate these opportunities with a goal to fully optimize the returns from the mining operation.”

According to Maritime Resources, past Hammerdown Mine Records show 315,000 Tonnes were mined from the site. 157,000 ounces gold was recovered with an average grade of 16.1 g/t. At the time (2000-2004), the price of gold averaged at $275 per ounce.

Image is screen shot from Maritime news release

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