Maritime has over 1 million ounces of gold The 2020 PEA provides such information including 987,000 ounces for HD and Orion ( see Link below ) plus over 70000 for Stoger.( https://wp-maritimeresourcescorp-2024.s3.ca-central-1.amazonaws.com/media/2024/02/09200225/hammerdown-pea-2-29-20.pdf ).
Since the 2020 PEA , much more drilling of HD and Orion has taken place with excellent results that will be included in the updated version of the 2022 FS.
The 2020 PEA includes Orion which provides an indication of the impact of a much longer mine life on the NPV albeit at low gold prices and using the capex expensive Nugget Pond mill.
As expected, the higher grade HD mine in the 2020 PEA will be exploited early in the mining cycle, with mainly Orion resources including underground in the back 5 years .
Average production of 57,000 ounces per year and 521,000 ounces over a 9 year mine life.
The 2022 FS provides just a 5 year mine life based on HD resources alone and only open pit but also using Nuggett Pond mill.
However, this can be easily adjusted in an approximate way by removing the Nuggett capex and adding that to the 2022 NPV.
Again, the POG used is well below current levels
So, Maritime , with its Orion, HD and Stoger gold resources updated for post 2021 drilling , will have plenty of ounces for a 10 year mine life, plus whatever those three new satellite HD didcoveries can add.
Longer term, we will have Deer Cove, Pine Cove deposits plus what high grade discoveries that Whisker value might offer up , once drilled.
Note that the average depth drilled at HD is Just over 100 meters , much like Pine Cove and Stoger.
This barely scratches the potential of these orogenic gold deposits whose magmatic hydrothermals often have very high grade lodes deeper in the basement.
Note the massive interval recently drill confirmed, beginning just below the 100 m floor of the Pine Cove mine.
Indeed, I don't recall a drill hole deeper than 250 meters on the entire Baie Verte Peninsula
What few realize is that Maritime, once it's gold resources are updated for recent drilling, and subsequently more intensively and comprehensively drilled using early cash flows from the restarted HD mine, it's gold resources will expand towards the 1.5 million ounces , capable of sustaining a 20 year mine life, beginning with at least a10 year mine life based on the updated 2022 FS.
With nearly 2 million ounces of gold in stranded NL resources transportable to Point Rousse along with a potential tolling arrangement with NFG and a spare gold mill at Nuggett Pond, there are additional future options for Maritime to achieve its goal of 100,000 ounces per year.
GLTA