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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 Dec 08, 2024 2:10pm
109 Views
Post# 36351736

Strip Ratio will be reduced by Grade Control drilling

Strip Ratio will be reduced by Grade Control drilling

 


Strip ratio is the ratio of economic ore to waste ore which must be removed to access the economic ore.

Grade control  was planned but had not taken place prior to the 2022 Feasability Study.

Grade control is very closely spaced drilling which increases the spatial resolution of grade differences of ore and waste boundaries within the pit, enhancing mine selectivity, reducing the strip ratio and decreasing mining costs.
Waste mining is one of the largest contributors to cash costs.

Grade control is now underway at HD and is expected to be completed by exit this month .

This should result in a signifucant reduction in mining costs along with the fact that during the past two years the HD mine site has been cleared of brush and debris,

Further, grade control often finds veins that were missed by regular definition drilling, so a possible increase in resources might result ..


 

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