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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 Oct 24, 2024 5:38am
113 Views
Post# 36279707

Consolidated Rambler Tailings on Exempt Lands

Consolidated Rambler Tailings on Exempt Lands

Dealt with this before but went back a did more research, as Maritime along with Shoreline have the resources and mill to extract and produce the contained metal.

It is of interest to Maritime as a future project.

What I did find was that the EML Tailings Lands near Point Rousse actually contain 110,000 ounces of gold at 1.03 grams per ton , and 13,000 tons of copper and about 15,000 tons of zinc.

In situ value at current prices amounts to $380 million in gold, $175 million in copper and about $50 million in zinc.

Roughly $600 million in contained metal value.

Maritime itself is too busy right now getting HD, Stoger and its dozen or more other projects into early production.

But Its JV partner, Shoreline, which will within a matter of weeks begin to reclaim Tailings Pond #1 near the Pine Cove mill, is another matter as it has the equipement and manpower to take on similar projects once TSF #1 is reclaimed.

You will note that Shoreline is already a JV partner of Maritime for three projects...Aggregate production, gold recovery from the wash plant flowing into TSF#2 and reclamation of TSF#1.

And the Deer Cove Talc deposit is right up Shorelines aggregate alley.

Dont think for a minute that Dundee doesn't see these emergent projects in its monetization totality.
They love spin outs as a neat way to unlock value.

Think of the Nugget Pond Tailings Pond sitting idle and the 143,000 ounces of gold in the Hope  Brook tailings Pond plus Duck Pond tailings 

Add these all up and you have close to $1.5 billion in tailings resources requiring regulatory reclamation within reach of Maritime's two mills....along with a world class Talc resource.

The Spin out itself would be larger than Maritime itself ....but not by acquiring Big Ridge and its 1.5 million ounces as part of Hope Brook Tailings..

Dreaming is one thing

Economic recovery value is reality.

We are very blessed with the real value that is emerging as we speak, from the Hub and Spoke business model.

GLTA





Xxxxxxxx


407 samples from three areas with elevated gold content were further analyzed for copper and zinc (Figures 4 & 5). The average grade of these samples was : Cu – 0.3%, Zn – 0.37% (Collins & Legrow, 1988).
The location of the EML closely approximates the area of higher grade tailings. The mineral rights to the tailings outside the EML are held by a third party. The resource estimate is a non-compliant historical resource and does not conform to the current 43-101 standards.
 Zone
A
B
A+B Total Tailings*
tonnes 881,468 618,532 1,500,000 .....3,787,700
Au (oz/t) 0.066 0.0272 0.05 0.033
Au (g/t) 2.06 0.85 1.56 .........................1.03
        * includes tailings outside the EML
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