New High Grade Gold + discovery in Whisker ValleyStrike length is over 10 km with widespread bonanza gold assays of bedrock Veins just 2 m below over burden of glacial til.
See Figure 2 for the widespread distribution of bonanza gold assays..
August 27, 2019
Maritime Discovers New Gold Mineralization At Whisker Valley
TORONTO, ON - Maritime Resources Corp. (TSX.V: MAE) ("Maritime” or the “Company”) is pleased to announce it has discovered a new area of gold mineralization as a result of a regional prospecting program at its 100% owned Whisker Valley Project (“Whisker”) in the Baie Verte Mining District of Newfoundland and Labrador. The Whisker Valley property is located 6 kilometers northwest of the Company’s high-grade Hammerdown gold project. Maritime has expanded the field mapping and sampling program and had expedited the mobilizing equipment to the property to initiate trenching and diamond drilling.
Highlights:
- 405 rock samples collected across the Whisker Valley property with 39 samples above 1.0 gram per tonne (gpt) Au reported in a newly discovered boulder field assaying up to 83.8 gpt gold (“Au”), 154.0 gpt silver (“Ag”) and 1.6% copper (“Cu”)
- Assays for an additional 50 float samples are pending
- Sampling and geological mapping reveal strong evidence of a large hydrothermal system at Whisker Valley
- Airborne magnetic survey completed across the entire Whisker Valley
- Whisker Valley project expanded by an additional 47 square kilometers
Summary
The current field mapping and sampling programs have identified extensive gold and base metal targets across the Whisker Valley. Although in the early stages of exploration, the widespread extent of gold mineralization in soils, grab samples and at the Ben, Gary and Jackson veins plus the increased abundance of copper sulphides are strong indications of an extensive hydrothermal system and that we may be close to identifying the source of the veins. This current exploration focus is at the northern portion of a prominent magnetic low trend, approximately 10 kilometres in length, identified in the recently completed airborne survey (see Figure 1). Magnetic low trends are associated with the areas of hydrothermal alteration observed in the detailed surface mapping, sampling programs and initial diamond drilling at Whisker Maritime has expanded its soil sampling campaign for 2019 to cover the prospective trends and will continue to systematically explore and identify new veins and prospective areas to focus our future exploration drilling campaigns.
Mineralized Boulder Field
Maritime’s prospecting team have identified a new mineralized boulder field located directly across the valley from the high grade Ben, Jackson and Gary quartz veins that were trenched and drilled throughout 2017 and 2018 (Figure 3). The newly discovered float samples resemble the mineralization from these veins (Figure 4), however based on glacial ice direction movement on the property and the angularity of the float samples, it is believed that they are derived from a proximal bedrock source area. Overburden (glacial till) is generally less than 2.0 metres thick in this area. A total of four hundred five (405) angular float samples ranging in size from 0.1 to 0.5 metres have been collected and assayed in 2018 and 2019 across the Whisker Valley project with thirty nine (39) angular float samples from the newly discovered boulder field assaying greater than 1.0 gpt Au found in this area. These samples assayed up to 83.8 gpt Au, 154.0 gpt Ag and 1.6% Cu and averaged 12.2 gpt Au, 20.3 gpt Ag and 0.4% Cu. Eleven (11) angular float samples in this set assayed greater than 10.0 gpt Au, averaging 33.8 gpt Au, 39.6 gpt Ag and 0.93% Cu.
Results from an additional 50 float samples for this area are pending and Maritime is hopeful that the results, once received, will assist in tracing the mineralized float to their bedrock source. Trenching is planned in this area and if successful results are obtained, follow up diamond drilling will be conducted to test the depth extent of any surface mineralization identified (see Figure 2).
Commentary
“The discovery of a new target area marked by high grade gold, silver and copper mineralization in angular float at our Whisker Valley project demonstrates the exciting potential of this largely unexplored project”, commented Garett Macdonald, President and CEO. “Our systematic approach to exploration has identified a number of highly prospective targets. We have expanded our land holdings and have mobilized additional resources in order to locate the bedrock sources of this mineralization.”
Historical VTEM Anomaly
In 2012 Tawsho Mining Inc. completed a relatively small nine (9) line VTEM and Horizontal Magnetic Gradiometer geophysical survey over the area of the Ben, Jackson and Gary high grade gold vein system. Based on the results of the survey two EM anomalies were identified in the northeast corner of the survey area (Figure 2 ). A new interpretation of the single and multi-line EM anomalies indicates highly conductive sources at approximately 100 meters below surface. Recent prospecting in the area of the VTEM anomalies by Maritime has located quartz/sulphide angular float with gold assay results ranging from 1.97 gpt Au to 22.59 gpt Au over a total of five (5) samples. Trenching and drilling is planned over the VTEM anomalies to identify a bedrock source for the samples and to map the potential surface exposure of the conductor to refine our planned holes for the target anomaly.
Airborne Magnetic Survey and Additional Land Staking
In July the Company contracted MPX International to complete a fixed wing gradient magnetic and Very Low Frequency (VLF) airborne geophysical survey over the entire Whisker, Gull Ridge and Green Bay Properties. A total of 522 line-kilometers of survey data was collected over the Whisker Valley Property. The higher resolution magnetic survey defined the magnetic signature of the underlying geology, while the VLF survey highlighted the structural contacts. The high-resolution magnetic data and VLF are being utilized to support further detailed geological mapping across the property.
The airborne survey has refined the trace of the Middle Arm Fault zone which is interpreted to be a secondary structure off the regionally important north-south trending Baie Verte Structural zone to the west. The north east trending Middle Arm Fault may have been influential in focusing gold rich fluids along the trend. Other magnetic trends in the area have received reconnaissance soil sampling coverage and assays are pending. Based on the results of the new airborne data Maritime has completed additional staking and mineral licence acquisitions of key mineralized zones on the property (see Figure 1). A total of 188 mineral claims, or 47 square kilometers, have been acquired both along strike to the northeast and to the southwest. The Company now holds 216 square kilometers along a strike length of 31.5 kilometers of the favourable geology that is host to numerous gold prospects and showings.
Figure 1 - Whisker Valley & Gull Ridge Project Area – 2019 Total Magnetic Intensity Airborne Survey
Figure 2 - Whisker Project Area – 2019 Soil Grid and Float Sample Highlights and Target Area Map
Figure 3 - Whisker Project Area – 2019 Soil Grid and Float Sample Highlights in Whisker Property Target Area
Figure 4 - Pictures of Newly Discovered High Grade Float Sample and Gary Vein Sample