Maritime drills 160 g/t gold at Hammerdown

Maritime Resources (TSXV: MAE) is drilling bonanza grades at its Hammerdown gold project in the Baie Verte region of Newfoundland. The project […]
The former open pit at the Hammerdown gold project. Credit: Maritime Resources.

Maritime Resources (TSXV: MAE) is drilling bonanza grades at its Hammerdown gold project in the Baie Verte region of Newfoundland. The project covers both the Hammerdown and Orion gold deposits, and it was from Orion that the recent results were obtained.

From the Orion deposit:

  • Hole BB-21-179 returned 3 metres grading 20.2 g/t gold, including 0.3 metre at 159.5 g/t; and
  • Hole BB-21-166 returned 4.3 metres grading 2.77 g/t gold.

From the Hammerdown deposit:

  • Hole MP-21-191 returned 13.9 metres grading 1.06 g/t gold; and
  • Hole MP-21-197 returned 1.7 metres grading 5.93 g/t gold.

Elsewhere, hole GA-21-36, drilled in the Golden Arrow zone returned 3 metres grading 2.95 g/t gold and 30.55 g/t silver.

Maritime is half-way through its 40,000-metre drill program at Hammerdown. A property-scale airborne VTEM-ZTEM and a ground-based IP survey have both been completed.

"The first phase of drilling this year has focused on untested areas at the Hammerdown gold project where we believe potential exists to expand mineral resources and improve project economics," said Garett Macdonald, Maritime's president and CEO.  He added that areas showing promise include a high-grade plunge at the Orion deposit, new shallow mineralization at the Orion North target with similarities to the felsic porphyry mineralization found at Orion and Hammerdown's Wisteria zone and a new vein system at the Golden Anchor zone located 200 metres east of Hammerdown, which is open in all directions.

With a 1 g/t gold cut-off, the Hammerdown and Orion deposits contain a pit constrained measured and indicated resource of 1.7 million tonnes grading 6.65 g/t gold for 368,000 contained oz. of gold and an interred resource of 1.3 million tonnes grading 4.77 g/t gold for 206,200 contained ounces.

The company has also estimated an underground resource for the two deposits, using a 2.0 g/t gold cut-off. The measured and indicated portion is 1.2 million tonnes grading 4.13 g/t gold for 153,000 contained oz. of gold and an inferred resource of 1.9 million tonnes grading 4.29 g/t gold for 260,000 contained ounces.

Learn more at www.MaritimeResourcesCorp.com.

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