GOLD: First estimate for Green Bay adds up to 1M-oz

NEWFOUNDLAND – The maiden resource estimate tops 1 million oz of gold at the Green Bay project near Springdale. The property is owned by Maritime Resources Corp. of Vancouver and hosts the past producing Hammerdown gold mine and Orion gold deposit as well as the Lochinvar base metals-precious metals deposit.

Using a 3-g/t cut-off, the Hammerdown deposit contains 727,500 measured and indicated tonnes grading 11.59 g/t Au and containing 271,100 oz. The inferred portion is 1.77 million tonnes grading 7.68 g/t Au and containing 436,000 oz.

Using the same cut-off at the Orion deposit puts 1.10 million tonnes in the indicated category. That material grades 4.47 g/t Au and contains 157,500 oz. There are also 1.29 million inferred tonnes grading 5.44 g/t Au and containing 225,100 oz. No estimate of measured resources has been made for Orion.

Maritime said that the Hammerdown deposit was mined by Richmont Mines between the years 2000 and 2004. During its operation a total of 291,400 tonnes of ore were mined and milled, at an average grade of 15.83 g/t Au, recovering a total of 143,000 oz of gold. All of the ore was processed at the Nugget Pond mill, now owned and operated by Rambler Metals, with an average gold recovery of 97.1%.

A map of the Green Bay property showing the location of the gold deposits and local infrastructure is available, along with additional information regarding the resource estimate, at MaritimeResourcesCorp.com.