September 19, 2018 ~ Maritime Resources announced today that it has entered into a “nonbinding Letter of Intent” with Rambler Metals and Mining, meaning ore from Hammerdown gold mine would be processed at Rambler’s Nugget Pond Milling Facility on the Baie Verte Peninsula.
Maritime stated engineering studies and a review of capital cost are scheduled “to support finalizing a binding agreement.’
In the meantime, Maritime says it will continue work at the Hammerdown mine area — dewatering the mine, drilling and “evaluating open pit opportunities” — with an eye to moving the mine back into production.
In today’s news release, Doug Fulcher (President and CEO of Maritime) commented:
“We are very pleased to have entered into this LOI with Rambler. The toll milling option at the permitted Nugget Pond gold mill, where Hammerdown ore was previously processed averaging over 97% recoveries, would allow for the project to be fast-tracked to production following a positive production decision by Maritime. Rambler’s presence and operational expertise in Newfoundland is a huge asset to Maritime as we move the Hammerdown project forward.”
[TOP photo is the Hammerdown entrance, Maritime Resources image]
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