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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 Mar 20, 2024 2:00pm
114 Views
Post# 35943292

HD Mine Site Prepared for Stripping

HD Mine Site Prepared for StrippingThis was done in 2022-23.

The optimized pit site is now cleared of all debris, brush , boulders etc and ready for the next stage which will be stripping off the overburden of rocks etc, so that mining benches can be constructed.

You can see a picture of the cleared site at this link..

https://www.mining-technology.com/projects/hammerdown-gold-project-newfoundland-and-labrador-canada/

N
ote on the right of the picture you can see the starter mining bench which Richmont used to produce about 9000 ounces before going underground and hard rock mining .

The suggestion has been made by Maritine that are looking at the best early mining opportunities which could produce cash flows to reduce the amount of capital required to fully develop the optimized pit .

The site preparation exposed two high grade veins on the site but pushbacks of the walls of that first mining bench also looks promising to me especially as Richmont ....with a 8.5 grams per ton cutoff grade..generated average grades near 16 grams per ton .

AIMHO..
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