More 2021 Orion North Assays Expands discovery TORONTO, ON (January 19, 2021) – Maritime Resources Corp. (TSX.V: MAE) (“Maritime” or the “Company”) is pleased to provide assay results from six additional diamond drill holes at the Orion deposit (“Orion”), in the Baie Verte Mining District of Newfoundland and Labrador, Canada. The Orion deposit lies approximately 1.5 km southwest of the Company’s Hammerdown project.
Highlights:
- 2.2 gpt Au over 21.0 metres (“m”), including 3.2 gpt Au over 5.8 m in drill hole BB-20-131
- 8.0 gpt Au over 5.0 m, including 11.4 gpt Au over 3.1 m in drill hole BB-20-132
- 4.8 gpt Au over 13.6 m, including 7.0 gpt Au over 8.1 m in drill hole BB-20-133
- 3.0 gpt Au over 14.0 m, including 4.9 gpt Au over 8.0 m in drill hole BB-20-135
- 3.5 gpt Au over 4.0 m in drill hole BB-20-136
“Over the last few months, we have seen an important style of mineralization emerging at Hammerdown’s Wisteria zone and now at Orion, characterized by wide intervals of consistent grade within a structurally controlled felsic schist unit.
Later this month, two diamond drill rigs will be mobilized to Orion to continue defining this promising new zone that is open in all directions and to test the 1.5 km unexplored gap towards the new Orion North conductive anomaly and the Hammerdown deposit,”
commented Garett Macdonald, President and CEO. “We recently expanded our land holdings in the area and are optimistic at the potential for further exciting discoveries in the core area of the Hammerdown Gold Project,” continued Mr. Macdonald.
Drilling at Orion Continues to Intersect High Grade Gold Over Wide Intervals
Additional drilling in late 2020 was completed at Orion to follow up on the high grade gold results intersected in drill hole BB-20-130 which returned 5.2 gpt Au over 13.0 m, including 8.4 gpt Au over 3.9 m, at a depth of 100 m below surface (see News Release dated January 7, 2021).
Drill holes BB-20-131, BB-20-132, BB-20-133, and BB-20-136 were drilled on the same section, 553895 E (Figure 1), and all holes intersected the zone at varying elevations.
The sub-vertical zone is now traced from surface to a depth of over vertical 150 m along this section, displaying excellent continuity in width and grade distribution.
Drill hole BB-20-131 intersected the zone over a 21.0 m wide interval grading 3.2 gpt Au displaying the bulk tonnage potential of this new area.
High grade intervals are also present as demonstrated by drill hole BB-20-132 which intersected 8.0 gpt Au over 5.0 m, including 11.4 gpt Au over 3.1 m (Figure 2). The zone remains open in all directions (Figure 2).
Drill hole BB-20-135 was completed 20 m along strike to the southwest of section 553895 E and intersected the mineralized zone at a depth of 50 m below surface, returning 3.0 gpt Au over 14.0 m, including 4.9 gpt Au over 8.0 m.
Drill hole BB-20-134 was collared just north of the Orion zone and returned no significant values.
Assay results from several other drill holes completed in late 2020 are still pending. Five additional holes were completed at the main Orion deposit and four additional holes were completed at the new Orion North target, located 300 m NE of Orion section 553895 E where a new discovery containing visible gold was made on the edge of a strong, newly identified conductive anomaly. Here, drill hole BB-20-123 intersected 22.7 gpt Au over 0.44 m at a vertical depth of 50 m (see News Release dated January 7, 2021).
The Hammerdown Deformation Zone is a structurally complex corridor stretching over 4 km hosting the Hammerdown and Orion gold deposits along with the silver rich Lochinvar VMS target and several new, untested conductive geophysical anomalies identified in the recent VTEM geophysical survey.
The area has been subject to at least four phases of deformation and is proximal to the regionally important Green Bay Fault (Figure 3).
The mineralization intersected at Orion is dominantly replacement style characterized by moderate to strong alteration represented by pervasive silica, sericite and carbonate along with pyrite in a strongly deformed felsic volcanic unit (Figure 4). The stratigraphically controlled style of mineralization at Orion lends itself to broad gold bearing zones as shown by the recent drill results. This style varies from the mineralization commonly encountered at Hammerdown, and parts of Orion, where quartz, sericite and pyrite veins are hosted in fault and fill shear zones on the contact between the host mafic volcanic package and intrusive QFP dykes.
In comparison, the Hammerdown veins are typically narrow and high grade with gold directly associated with the percentage of pyrite in the veins. In mid 2020 the Company completed new drilling in the Wisteria Zone on the southern end of the Hammerdown PEA open pit shell in drill hole MP-20-130, intersecting 2.9 gpt Au over 31.0 m starting at 50 m below surface (see News Release dated September 24, 2020). This mineralization is very similar to the replacement style mineralization identified at Orion, 1.5 km to the southwest.