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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 Aug 07, 2024 9:02am
126 Views
Post# 36167237

Most likely over 45,000 ounces of Stoger + Production

Most likely over 45,000 ounces of Stoger + Production

From the 2022 upgraded Reserves published by Signal...40,100 ounces from 
Stoger and perhaps a few ounces more as the 3000 m of definition drilling should add more ounces to the economic Reserves.

The estimate below was at POG of $1550 , so the cutoff grade could be lowered , adding ounces to recovered ounces..

Also, recovery is now over 95% versus 87% when Signal upgraded the Stoger FS

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" The Stog'er Tight Probable Mineral Reserve is 726,600 tonnes at an average diluted gold grade of 1.97 grams per tonne ("g/t") and contains 46,100 ounces of gold at a strip ratio of 7.9 to 1 waste tonnes to ore tonnes, based on a cut-off grade of 0.62 g/t gold and gold price of CAD$2,000/oz (US$1,550/oz).

The Stog'er Tight Mineral Reserve Estimate is based on the Stog'er Tight Mineral Resource Estimate for the Stog'er Tight Deposit with an Effective Date of September 1, 2021.

Under a conceptual 22-month life of mine, Stog'er Tight would produce approximately 40,100 ounces of gold based on an estimated average recovery rate of 87.0%.

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