RE:Pine Cove Mine Back on the Mining Table More on the emerging and perhaps substantial gold resources yet uncovered at the Pine Cove mine where open pit mine bottomed out at a depth of 100m from surface.
Recall the ubiquitous ( everywhere ) distribution of placer gold all around Point Rousse including the bottom sediments offshore from the shoreline.
Placer gold is just the eroded grains of gold from its bedrock source.
At Point Rousse, these gold grains were largely pristine ..ie not crushed or deformed by transport .
That is, the bedrock lodes start and are close to and just below your feet .
Recall as well that these Point Rousse deposits are orogenic in origin and can extend to over 2000 km of mineralized depth ...V Lake found high grade gold as deep as 1000 m and NFG to over 1300 m.
Note thst The mineralized zone continues below the Pine Cove pit and remains open at depth to the north.
Very signifucantky , recent Infill sampling of historical drill hole PC-11-181 by Maritime in 2024 which included several unsampled intervals returned 1.37 gpt Au over 107.8m (from 175m to 282.8m).
This is a massive intersection which included a historical interval of 2.50 gpt Au over 40.8m, from a depth of 221.4m to 262.2m
To verify the broad low-grade envelope, Maritime has conducted a review of other drill holes in the downdip direction to the north is ongoing.
It would seem that this review has confirmed that gold mineralization below the 100 meter mined depth of the current Pine Cove pit could extend to 250 meters or more .
In my previous post of today , I pointed out that historical mining of the Pine Cove pit to 100 meters resukted in gold being produced at a rate of just over per 1 meter of vertical depth through that pit.
Now being shown to be mineralized at equivalent grades to 250 meters ( and still open at strike and dip ) gives an additional potential gold ounces of close to 300,000 ounces just a few km from the Pine Cove mill.
This would be a substantial extension of the mining life of about 6 yesrs for Maritime's current economic resources within its concessions on the Bay Verte / Green Bay region.
Roughly an additional potential revenue of about $1 billion cad from just 4 km from the Pine Cove mill.
Currently, the 272,000 ounces of Reserves within the HD deposit will generate at $850 million cad in gross revenues to Maritime over its 5 year mine life beginning about 8 months from now in summer 2025.
AIMHO
GLTA