Maritime Resources Corp V.MAE

June 2021..Maritine Announces major expansion of Orion N

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MARITIME RESOURCES TRACES ORION NORTH ZONE OVER 550 METRES – INTERSECTS 12.43 GPT GOLD AND 2.15 GPT SILVER OVER 1.20 METRES, INCLUDING 50.60 GPT GOLD AND 7.90 GPT SILVER OVER 0.20 METRES

June 22, 2021View PDF 

TORONTO, ON (June 22, 2021) – Maritime Resources Corp. (TSX.V: MAE) (“Maritime” or the “Company”) is pleased to announce drill results from its ongoing 40,000 metre (“m”) exploration program at the Hammerdown Gold Project (“Hammerdown” or the “Project”), and its Whisker Valley Property, in the Baie Verte Mining District of Newfoundland and Labrador, Canada. Exploration activities are underway with two drills exploring along the highly prospective Hammerdown Deformation Zone and will work outwards to new high priority targets throughout 2021 and into 2022.

Highlights:

Orion North – new near surface zone traced over 550m

• Drill hole BB-21-170 intersected 12.43 gpt Au and 2.15 gpt Ag over 1.20 m, including 50.60 gpt Au and 7.90 gpt Ag over 0.20 m.
• The northernmost drillhole BB-21-176 intersected 10.68 gpt Au and 2.70 gpt Ag over 0.33 m and is open towards the Hammerdown deposit.
• Drill hole BB-21-175 intersected multiple high-grade veins containing 6.79 gpt Au over 0.20 m, 17.08 gpt Au over 0.20 m, 11.48 gpt Au over 0.20 m and 10.19 gpt Ag over 0.20 m, all within 100 vertical meters from surface.

Orion – Additional drilling targets areas of thicker, high grade shoots of mineralization to greater depths

• BB-21-167, drilled 60 m beneath a newly identified thick high-grade shoot of the Orion Deposit, intersected 33.35 gpt Au and 5.40 gpt Ag over 0.24 m and 3.72 gpt Au over 7.14 m, including 5.69 gpt Au over 3.53 m.
• BB-21-154 intersected numerous mineralized zones with 2.30 gpt Au and 0.50 gpt Ag over 12.00 m, including 5.19 gpt Au and 1.01 gpt Ag over 3.50 m.

Whisker Valley – Gary vein system defined over 1,000 m in strike length during 2020 drilling

• Updated results from Whisker Valley drill hole WH-20-12 identified a new upper mineralized lens that returned 23.40 gpt Au, 46.80 gpt Ag and 0.64% Cu over 0.34 m. Screened metallic sieve analysis of the previously announced interval from WH-20-12 mineralization significantly upgraded the grade of the mineralized intercept to 5.74 gpt Au over 6.32 m, including 22.42 gpt Au, 14.08 gpt Au and 0.35% Cu over 0.50 m and 9.63 gpt Au, 3.06 gpt Ag and 0.08% Cu over 2.60 m.
• WH-20-20 Intersected multiple narrow high-grade intervals containing 5.07 gpt Au and 3.78 gpt Ag over 1.23 m, including 11.07 gpt Au and 8.49 gpt Ag over 0.53 and 3.53 gpt Au, 1.83 gpt Ag and 0.14% Cu over 1.18 m, including 18.24 gpt Au, 6.0 gpt Ag and 0.65% Cu over 0.20 m.

“Drilling at Orion North continues to intersect high-grade mineralization over narrow widths.

This new zone of mineralization has now been traced over 550 m in strike length to a depth of 100 m below surface.

We are encouraged to see continuity and multiple new high-grade veins being intersected in shallow, broadly spaced exploration holes as we test the gap between the Hammerdown and Orion Deposits.

As drilling continues to test this minimally explored corridor, there is a strong probability for the discovery of additional mineralized veins,” commented Garett Macdonald, President and CEO.

“At Whisker Valley our initial exploration program completed in 2020 successfully traced gold mineralization over a strike length of 1,000 m and to depths of 150 m below surface.

It is common for narrow vein gold deposits to pinch and swell and we will be focused on locating wider zones that may be amenable to extraction,” added Mr. Macdonald. 

Orion Deposit

Recent drilling at the Orion deposit and new Orion North zone have intersected several quartz veins containing high-grade gold and meaningful amounts of silver. These zones lie along the Hammerdown deformation zone, an important 4-km long trend hosting the Orion and Hammerdown gold deposits, that has seen minimal exploration drilling over the years. The Orion North zone lies between these deposits and has now been traced over a strike length of 550 m and is open to the northeast. Drilling on this zone recently intersected 12.40 gpt Au and 2.15 gpt Ag over 1.20 m, including 50.60 gpt Au and 7.90 gpt Au over 0.20 m in drill hole BB-21-170 near surface, at a depth of 35 m. Along strike, approximately 50 m to the northeast towards Hammerdown, drill hole BB-21-175 intersected six new quartz veins starting at 46.00 m and extending to 131.88 m down the hole including 0.86 gpt Au over 3.85 m, 17.08 gpt Au over 0.20 m, 11.48 gpt Au over 0.20 m and 10.19 gpt Au over 0.20 m. The Orion North zone is open in all directions. 

Drilling at the main Orion zone is focused on testing the extents of two styles of mineralization – narrow quartz veins with high-grade gold and quartz feldspar porphyry (“QFP”) dykes with wide zones of lower grade disseminated gold.  Drill hole BB-21-154 intersected 2.30 gpt Au over 12.00 m, including 5.19 gpt Au over 3.50 m at a depth of 195 m below surface. Other notable intersections at Orion included 4.19 gpt Au over 3.00 m in drill hole BB-21-158 and 4.13 gpt Au over 2.28 m in drill hole BB-21-161. Deeper in the Orion deposit, drill hole BB-21-167 intersected the EMS zone at 219.04 m downhole with 33.35 gpt Au and 5.40 gpt Ag over 0.24 m and the main zone at 346.89 m downhole with 3.72 gpt Au over 7.14 m, including 5.69 gpt Au over 3.53 m. The main Orion zone remains open at depth and along strike. 

Figure 1:  Drill Hole Location Map (Orion to Hammerdown)

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