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Maritime Resources Corp V.MAE

Alternate Symbol(s):  MRTMF

Maritime Resources Corp. is a Canada-based gold exploration and development company. The Company is focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. The Company holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property, which includes the former Hammerdown gold mine and the Orion gold project. It also controls over 439 square kilometers (km2) of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by the Company in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit. The Point Rousse Project covers an area of approximately 54 km2. The Company also owns the Lac Pelletier gold project in Rouyn Noranda, Quebec. Its wholly owned subsidiary is 2823988 Ontario Corp.


TSXV:MAE - Post by User

Post by shiftyoneon Mar 21, 2024 10:25pm
107 Views
Post# 35946300

I'm looking forward to an update on the fines.

I'm looking forward to an update on the fines.

Toronto, Ontario--(Newsfile Corp. - January 15, 2024) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to report it has initiated a precious metals clean up program at the Company's newly acquired Pine Cove mill complex, located in the Baie Verte mining district, approximately 20 km from the town of Baie Verte, Newfoundland and Labrador. Maritime's mill employees have recovered and poured a gold dor bar containing 281.1 ounces of gold generating approximately C$750,000 of revenue. Over the next few months the remaining fines and residues throughout 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 is conducting additional sampling throughout the property and has identified gold mineralization contained in in the TSF #2 tailings pond (Figure 2, Table 1) where material grading between 1.19 grams per tonne ("gpt") and 31.1 gpt gold was identified. Further sampling is underway to define the extent of this material and determine the potential for processing through the Pine Cove mill. The material stored in this pond includes fines collected from the wash plant operated by Shoreline Aggregates Inc. which processes mine waste rock from the Pine Cove mine into aggregates for shipment to international customers. Recent sampling of the wash plant fines confirmed the presence of high-grade gold assaying 11.4 gpt. Maritime and Shoreline are investigating the installation of a gravity recovery circuit to the wash plant to collect any gold on a more permanent basis.

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