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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

Comment by nozzpackon Nov 14, 2024 10:01am
34 Views
Post# 36312541

RE:More Mineralized Ounces ?

RE:More Mineralized Ounces ?There is another possibility .
Richmont began mining HD using open pit , and constructed the starter mining bench and the first wall pushback.

These can be seen in the HD pictures on the Web Site.

During that initial open pit mining of HD...underground for the rest of the 4 years...Richmont produced about 15,000 ounces at an average grade of close to 16 grams per ounce, with a cutoff of 8.5 grams per ton.

The huge cutoff grade was made necessary due to POG being $300.

I would think, because of that, much mineralized ore below , say , 2-3 grams , would have ended up as part of the pushback wall , and considered as waste.

In the most recent CP, I was surprised to learn that a signifucant amount of HD site preparation for mining including grade control had been and was taking place.

Its possible therefore that the push back wall may have been drilled to determine if the wall contained 
economic grades.

Just a guess on my part but these folks are scroungers..


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