Richmont test mined 8500 ounces…Likely Source for Maritime Maritime Resources Corp.: High Grade Gold in Trenches at Hammerdown, Green Bay Project
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2017) - Maritime Resources Corp. (TSXV: MAE) ("Maritime") is pleased to announce that, as part of the Exploration Program at Green Bay in 2017, surface trenching of veins at the Hammerdown gold project returned high grade gold values in multiple channel samples across the deposit.
The J and K veins are just two of the 10-vein gold system and are exposed on the surface for over 30 meters and 15 meters respectively. They are located near the south wall of the small open pit that was mined by the previous operator, Richmont Mines. During the original start-up of the Hammerdown Mine in year 2000, Richmont produced 8500 ounces from the small open pit over a period of just 4 months.
High grade gold assays were received from the J-Vein, ranging from 3.5g/t Au over 0.3 m to 67.5g/t over 0.5 meters. Assay values were also received from K-Vein, where 2 samples assayed 11.8 g/t Au over 0.5 m and 27.2 g/t Au 0.3 m. Values at the L-Vein, which is oblique to the pit wall, west of the high-grade portion of the Hammerdown vein system, were lower than 1 gm/t Au, due to its position outside the main high-grade zone.
The surface traces of the "J" and "K" veins are upward projections of previous drill hole intersections from 30 to 50 meters depths. These veins trend parallel to the pit wall and are being targeted for its open pit potential in the early stages of re-starting the mine. This could potentially reduce the preproduction timeline as outlined in the recently released prefeasibility study. The maps attached show the location of the channel samples with detailed assays below. The maps also show the position of the veins in proximity to the existing open pit wall edge.
TABLE of CHANNEL SAMPLES, (showing grade, thickness and extent of the J and K vein)
| VEIN | CHANNEL WIDTH | GOLD (g/t) | VEIN EXTENT
(Length) |
| J-1 | 0.75m | 6.5 g/t | 7.62m |
| J-1 | 0.60m | 6.3 g/t | 4.18m |
| J-1 | 0.34m | 10.39 g/t | 3.05m |
| J-1 | 0.5m | 67.5 g/t | 4.07m |
| J-1 | 1.3 m | 0.2 g/t | 4.88m |
| J-1 | 0.75m | 2.6 g/t | 7.3m |
| |
| K-1 | 0.5m | 11.8 g/t | 6.55m |
| K-1 | 1.3m | 0.53 g/t | 3.15m |
| K-1 | 0.27m | 26.87 g/t | 6.75m |
| |
| K-2 | 0.79m | 3.11 g/t | 7.4m |
A number of grab sample were also taken from surface on the J Vein, these samples were primarily semi-massive pyrite within a quartz vein which is characteristic of the high-grade gold mineralization at Hammerdown. These high-grade gold assays are also supported by the assays from the channel samples taken along the exposed J vein.
TABLE of GRAB SAMPLES, (J and K vein)
| SAMPLES | GOLD (g/t) | OUNCES / T |
| B-1 | 24.6 | .79 |
| B-2 | 118.5 | 3.81 |
| B-3 | 99.2 | 3.19 |
| B-4 | 169.6 | 5.45 |
Drill Program
A 3,000-metre drilling program has been planned for the winter of 2018 which is expected to begin in February.
Specifically, at the J & K veins, drilling will be directed between the recent trenching program and the historic underground drilling. This portion of the program will consist of shallow drill holes to outline grade and thickness of the upper portion of these veins. Once the drill program is completed, both surface trenching and drilling results will be compiled and evaluated for a potential open pit production scenario similar to Richmont's first year of production.
The Hammerdown portion of the drill program is targeting the inferred resource that exists within the mine plan area as outlined in the Prefeasibility Study announced in March of 2017. Currently there is approximately 400,000 ounces of Au in the inferred category estimated within the PFS mine plan area. A focused drill program will aim to move part of the inferred resource into the measured and indicated categories to allow for further consideration as a mineral reserve
The Rumbullion drilling will target both veins exposed by the surface trenches and a number of the geophysical targets outlined in last year's exploration program. This drilling will test the potential extension of the deposit for approximately 1,000 meters north east of Rumbullion.
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