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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 > Consolidated Rambler Tailings on Exempt Lands
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Post by nozzpack on Oct 24, 2024 5:38am

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
Comment by nozzpack on Oct 24, 2024 12:20pm
   Smaller mining companies looking to specialise in reprocessing tailings frim brownfield sites can be very profitable  Adopting  a strategy of purchasing waste dumps or historic tails for re-processing as an economic source of commodities has many advantages over greenfield costly exploration for new deposits. This value is easy to recover as the material has already ...more  
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