2022 Extensional Drilling…Two more Gold discoveries When Richmont left the HD mine...one of my investments at the time..they knew that there existed substantial exploration upside within the surrounding faulted zones but they were after bigger fish , so they moved on..
Once again, very limited drilling by MAE in 2022 found 4 new zones that are shallow open pittable of excellent grades open at strike........In this NR , here are two new gold discoveries that will boost HD gold reserves....and more drilling is planned for 2024
June 22, 2022
Maritime Resources Discovers New Gold Zone 300 Metres South of Hammerdown Deposit
TORONTO, ON (June 22, 2021) - Maritime Resources Corp. (TSX.V: MAE) (“Maritime” or the “Company”) is pleased to announce drill results from its recently completed 6-hole 1,367 metre (m) drilling program at the Hammerdown Gold Project (“Hammerdown” or the “Project”). The focused drill program tested a coincident gold and geophysical trend which extended from the Orion North Zone towards the northeast along a prominent magnetic low trend. Broad spaced drilling identified a 30.2m-wide zone of near surface gold mineralization closely resembling the gold mineralization seen in the Main Zone at the Orion deposit and the new Wisteria Zone at the Hammerdown deposit.
Highlights
- Drill hole DC-22-02 intersected a broad interval of near surface disseminated and vein hosted gold mineralization with 30.2 m grading 0.76 grams per tonne (“gpt”) Au, including 8.9 m grading 1.74 gpt Au.
- DC-22-02 is located 700m northeast and along strike of the newly discovered Orion North trend (Figure 2) and 300 m south of Hammerdown’s Wisteria Zone on the southern edge of the Preliminary Economic Assessment (“PEA”) pit shell. This discovery opens a new target area trending towards the northeast end of the proposed pit shell.
- The gold mineralization is coincident with a prominent magnetic low trend which extends over 1 km to the northeast of the discovery hole and 2 km southwest towards the Orion deposit. Mineralization is open in all directions and a follow up exploration program is currently being planned.
- Beetle Pond Zone: 12.1m grading 19.9 gpt Ag 0.48 gpt Au, 0.03% Cu, 0.12% Pb and 0.25% Zn, including 4.1m grading 40.9 gpt Ag, 1.1 gpt Au, 0.04% Cu, 0.12% Pb and 0.28% Zn in drill hole GA-22-48
This new discovery hosts substantial intervals of high-grade and low-grade mineralization similar to gold intersections reported from the Orion and the Wisteria Zones. The gold mineralization occurs over a 30m wide zone that is vertical to sub-vertical and is projected to come to surface. The trend of the zone, based on the geophysics and regional drilling, continues to the northeast with over 1 km with no drilling.
Previous exploration programs at Hammerdown’s Wisteria Zone, a bulk zone located on the south side of the deposit, encountered this style of mineralization with 31.0m grading 2.9 gpt Au in drill hole MP-20-130 (see press release dated Sep 21, 2020) and 92.1m grading 1.4 gpt Au in drill hole MP-20-165 (see press release dated Feb 1, 2021). At the Orion deposit, 2 km along strike to the southwest, previous drilling also intersected this style of mineralization on multiple occasions highlighted by 32.2m grading 1.78 gpt Au in drill hole BB-20-107 (see press release dated Nov. 3, 2020). Maritime’s initial 2022 diamond drilling program was designed to test an area south of the conceptual Hammerdown open pit, including 5 wide-spaced drill holes (DC-22-02 through DC-22-06) totalling 1,367 m designed to test an additional area for use as a waste rock storage area. Only one of the six holes intersected significant gold mineralization, however, the additional holes along section were either too far south or too far north to test the new mineralized zone.
Garett Macdonald, President and CEO commented, “The discovery of this new gold zone in a completely untested area opens up the potential for additional shallow, bulk tonnage deposits along a 3 km magnetic low trend located within the footprint of the Hammerdown Gold Project. This style of mineralization was commonly unsampled and overlooked by historical exploration programs but in the current gold market, it becomes a very interesting opportunity to add ounces and extend the proposed mine life at Hammerdown”.
Beetle Pond Zone
In 2022, Maritime completed a 6-hole, 1206-m diamond drilling program in the Beetle Pond area 1 km east of the Hammerdown deposit. The program was designed to test the potential extension of the Golden Anchor gold vein system as well as the Lochinvar VMS system. Drill hole GA-22-48 returned 12.1m grading 19.9 gpt Ag, 0.48 gpt Au, including 4.1m grading 40.87 gpt Ag and 1.07 gpt Au. Previous drilling earlier in the year at Beetle Pond intersected high grade gold with 150.3 gpt Au and 81.3 gpt Au over 0.2m in drill hole GA-22-46 with abundant visible gold (see press release dated March 16, 2022). Assays received from the 6 holes completed intersected isolated quartz/sulphide veins with variable gold grades and widths as outlined in Table 2. Several of the 2022 drill holes were drilled to a deeper depth to test the Lochinvar VMS horizon (GA-22-46, GA-22-48, and GA-22-50). All three holes reported broad zones of intense quartz, sericite, and pyrite alteration with local thin stringers of sphalerite, chalcopyrite, and galena similar to the Lochinvar VMS zone (Table 2). Beetle Pond is located 500m east of the historic Lochinvar VMS deposit and is contained within a polymetallic VMS horizon (Figure 2). Both the hangingwall Golden Anchor veins and the Lochinvar VMS zone are open at depth and along strike with additional drilling planned for this area.
Figure 1: Core Photos Depicting Mineralized Drill Core Section
Figure 2: Plan map – Orion, Hammerdown Area depicting magnetic and mineralized trends
Figure 3: Plan map – Orion, Hammerdown Area
Figure 4: Cross-Section Depicting DC-22-02 and Hammerdown Proposed Pit
