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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 focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador. 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 controls over 439 square kilometers (km2) of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. The Company owns mineral processing assets in the Baie Verte mining district, which include the Pine Cove mill and the Nugget Pond gold circuit. It also owns the Lac Pelletier gold project in Rouyn Noranda, Quebec. Its land holding, across all its properties, covers an area of approximately 43,925 hectares, of which the Company holds a 100% mineral rights interest in 37,050 hectares with the remaining 2,175 hectares under option agreements (100%).


TSXV:MAE - Post by User

Post by nozzpackon Dec 05, 2023 5:43am
126 Views
Post# 35768381

Expansion / Upgrade of the Pine Cove Mill

Expansion / Upgrade of the Pine Cove MillThis is mentioned in the December Corporate Presentation .
That mill is potentially capable of processing base metals from VMS deposits .

VMS deposits are polymetallic ,almost  always zinc, copper lead gold and silver.
They are highly sought after 

MAE has several but the Lochinvar discovery is among the richest in the world and it already has substantial dimensions and open at strike 

In the Corpprate Presentation, it is highlighted in Slide 15 and its highest grade intercept 23.6% zinc equivalent is very high .....

In the link below, I show the highest zinc intercepts in Mexico which is the best VMS deposit region in the world ....you will note that Lochinvar best stand alone is 23.83 % zinc which would be among the highest in Mexico 

It possible that Point Rousse is being prepared for eventual VMS/ base metals including tolling of copper concentrate production 

Lochinvar Deposit (Zn, Pb, Cu, Ag, Au)

The Lochinvar VMS deposit is located approximately 200 m northeast from the former Hammerdown Gold Mine.

Two steeply plunging, massive sulphide lenses have been traced from surface to approximately 200 m depth where they remain open, though there are indications that they will be truncated at depth along the late Captain Nemo Fault.

The mineralization is partially delineated over a strike length of 700 m and remains open to the northeast.

The mineralization consists of heavily disseminated to massive sphalerite, galena, chalcopyrite, and pyrite with lesser barite and significant tennantite and electrum.

It occurs within a steeply-dipping, strongly sericitized, carbonatized and locally chloritized, soda-depleted (0.2% Na2O), schistose felsic volcanic package up to 75 m thick.

The altered felsic package is separated from an underlying undeformed mafic volcaniclastic unit by the “Captain Nemo Fault” and is overlain by a unit of aphyric, green andesite/dacite fragmental rocks.

Drilling in 2020 intersected a thick zone of mineralization with 0.85 gpt Au, 150.9 gpt Ag, 0.73% Cu, 3.33% Pb and 7.62% Zn over 11.6 m, ( 23.6 % zinc equivalent ) including 0.74 gpt Au, 210.7 gpt Ag, 2.03% Cu, 10.64% Pb and 23.83% Zn over 2.5 m in drill hole GA-20-25.

 
 
https://gambusinoprospector.com/2023/10/07/mexicos-best-lead-and-zinc-intercepts-on-q3-2023/
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