GOLD: Maritime, Rambler ink deal to re-examine Hammerdown mine

NEWFOUNDLAND – Maritime Resources Corp. of Vancouver and Rambler Metals & Mining of Baie Verte, NL, have agreed to re-examine the former Hammerdown gold mine that lies in Maritime's Green Bay property near Springdale. Together the companies will determine how many ounces remain in the mine and whether or not it would be economic to recover them.

If the economic analysis is positive, the two companies have agreed to work together toward reopening the former producer. Hammerdown ore would be toll treated in the CIP circuit at Rambler's Nugget Pond mill. A rate of 500 t/d is anticipated.

The Nugget Pond mill treats both copper and gold ores using a single grinding circuit. Rambler is adding a separate crushing and grinding circuit for the gold plant, and its construction would coincide with trucking Hammerdown ore to the mill.

The former owner of the Hammerdown mine recovered 143,000 oz of gold from 2000 to 2004.

More information and a photo gallery are available at MaritimeResourcesCorp.com.