Maritime Resources (TSXV: MAE; OTC Pink: MRTMF) has begun its cleanup of the recently acquired Pine Cove mill. Maritime purchased all the shares of Point Rousse Mining in June 2023, and the agreement included the mill which previously recovered gold and silver.
The company has already recovered material and poured a gold doré bar containing 281.1 oz. of gold and generating about $750,000 of revenue. The remaining fines and residues in the mill will be collected and concentrated by a specialized contractor for shipment to a refinery for final recovery of any precious metals. The proceeds will be used for general working capital purposes.
Maritime has been sampling various areas of the mill property and identified material in the #2 tailings storage facility grading between 1.1 and 31.1 g/t gold. Further sampling will determine the suitability of processing this material through the Pine Cove mill.
The tails also contain fines from a previous wash plant operation when waste rock was crushed for sale as aggregates. Recent sampling of this portion returned a grade of 11.4 g/t gold. Consideration is being given to installing a gravity recovery circuit for this material.
Maritime is focused on advancing the 100%-owned Hammerdown gold project in the Baie Verte district of Newfoundland. Learn more on www.MaritimeResourcesCorp.com.
April 25, 2024
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