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Bullboard - Stock Discussion Forum 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... see more

TSXV:MAE - Post Discussion

Maritime Resources Corp > Gold beneath All of the Point Rousse open pits
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Post by nozzpack on Jan 03, 2024 2:22pm

Gold beneath All of the Point Rousse open pits

Open pit gold mining has low cash costs  compared to Underground mining.


But gold mineralization continues beyond these  open  pit design as these orogenic gold lodes can continue often at higher grades down to 1 km or more.
A good example in reverse is the HammerDown mine which was initially an Underground mine at grades averaging 16 grams per ton.
MAE is resume mining of HD via an open pit at grades averaging just under 5 grams per ton 
The Pine Cove open pit produced 120,000 ounces from its open pit but the few holes drilled deeper showed that the Pine Cove mineralization continued below the open pit at grades in excess of 5 grams per ton.

But, I cannot find any deep drill results any where else of the 6-7 open pit mines within the Point Rousse project , even though it's highly likely that at some point , underground mining will be possible for most of these pits.

Its possible that MAE will drill a few deeper holes in one or more of these pits in 2024..

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