ORIGINAL: Maritime Confirms High Grade Gold, Silver, and Copper at Black Ridge
2024-01-18 07:02 ET - News Release
Toronto, Ontario--(Newsfile Corp. - January 18, 2024) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to report additional bedrock sample assays from the Black Ridge gold rich volcanic massive sulphide (VMS) target in Newfoundland and Labrador.
Black Ridge is located at the southwest corner of the Company's land holdings, approximately 15 km from the Hammerdown Gold Project near the communities of King's Point and Springdale.
The property is at an early stage of exploration but hosts several high-grade gold, silver and copper showings in outcrop, float, and soil samples.
Highlights:
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New project covers 150 hectares of highly prospective VMS ground.
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Recent grab samples by Maritime from outcrop returned high grades of gold, copper and silver
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12.6 grams per tonne ("gpt") gold ("Au"), 181.2 gpt silver ("Ag") and 11.8% copper ("Cu")
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7.6 gpt Au, 127.6 gpt Ag, 12.3% Cu
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5.9 gpt Au 125.6 gpt Ag, 10.4% Cu
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2.9 gpt Au, 16.9 gpt Ag, 0.8% Cu, 1.0% Pb and 2.0% Zn
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Untested geophysical anomalies - electromagnetic conductor and property scale magnetic anomaly.
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Compilation of historical soil geochemical surveys and recent soil analysis by Maritime has defined several anomalous zones of gold and or copper.
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Recent geological mapping has identified the potential for the property to host both ophiolitic VMS style and epigenetic structurally controlled gold mineralization.
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Excellent property access and proximity to local infrastructure.
"We continue to see high grade gold, silver and copper samples in outcrop and anomalous gold/copper trends in soils at our Black Ridge prospect. There are two large geophysical anomalies that remain to be tested this spring as part of a comprehensive exploration program including soil sampling, trenching and mapping. This area is highly prospective for copper-gold rich volcanic massive sulphide deposits and represents some exciting blue sky exploration potential for the Company like other known deposits along the district," comments Garett Macdonald, President and CEO.
Black Ridge Property Description
The Black Ridge property is centrally located within the western boundary of Maritime's Gull Ridge Project (see Figure 2). The claims are proximal to the Baie Verte Line a major suture zone that separates Precambrian Laurentia continental margin rocks from Cambrian/Ordovician ophiolitic complexes and cover sequence rocks of the Baie Verte Oceanic Tract.
Further north of the property along the Baie Verte Line similar ophiolitic rocks are host to several important past producers of copper-gold rich VMS style deposits including the current Firefly Metals Green Bay Copper-Gold Project. Subsidiary structures of the Baie Verte Line to the northeast are also host to numerous prospects and showings of high-grade gold in orogenic style structurally controlled veins.
After staking the new claims in November 2023, Maritime sampled the historical main showing represented by thin massive to semi-massive sulphides which had been previously reported by historical explorers (see Maritime Press Release November 27, 2023). The grab samples confirmed the high-grade nature of the mineralization. Three grab samples returned: 5.92 gpt Au, 125.6 gpt Ag and 10.4 % Cu, 12.57 gpt Au, 181.2 gpt Ag and 11.8 % Cu, 7.63 gpt Au, 127.6 gpt Ag and 12.3 % Cu. A second showing of brecciated quartz veining with minor base metals 200 meters north of the main showing returned 2.86 gpt Au, 16.9 gpt Ag and 0.8 % Cu in a grab sample.
A compilation of soil geochemical analysis from previous explorers and more recent soil sampling by Maritime peripheral to the newly acquired mineral claims has revealed several anomalous copper and gold trends (Figure 1). A 1.5-kilometer-long northwest to southeast trending single and multi-station anomalous gold (ranging from 41 to 434 ppb Au) and copper (ranging from 50 to 266 ppm) occurs coincident with the high-grade copper, gold and silver grab samples taken by Maritime in November 2023. A similar 2-kilometer-long narrow northwest to southeast trending gold (ranging from 41 to 249 ppb Au) and copper (ranging from 50 to 200 ppb Cu) anomalous zone is located approximately 500 meters north of the main showing and parallels the more southerly trend. A cluster of anomalous gold (ranging from 41 to 286 ppb Au) occurs in the vicinity of an EM conductive trend identified by a 2021 airborne VTEM survey and ground-based EM survey completed by Maritime.
The Black Ridge property also hosts several conductive and magnetic geophysical anomalies that were identified in Maritime's 2021 versatile time domain electromagnetic ("VTEM") and magnetic surveys. The conductive anomaly identified in the airborne VTEM survey was followed up with ground based electromagnetic surveys and generated a conductive plate anomaly measuring over 1 km in strike length. The untested conductive anomaly occurs along strike to the northeast of the high-grade copper/gold showings and coincident with anomalous gold in soils.
Figure 1. Compilation Map of Black Ridge Property
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Figure 2. Location map with Total Magnetic Intensity base from 2019 airborne survey
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Qualified Person
Exploration activities at the Hammerdown Gold Project are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.
Analytical Procedures
All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime Resources. Samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.
About Maritime Resources Corp.
Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to op