A new discovery 150m east of the Hammerdown deposit in a quartz vein with visible gold returned a drill intercept of 6m grading 6.9 grams per tonne gold and 12.9g/t silver, including 2m grading 19.9g/t gold and 24.1g/t silver.

"These latest results from Hammerdown demonstrate the potential to extend the deposit towards the east where our step out drilling intersected a new high-grade vein with visible gold and substantial silver," said Maritime Resources' president and CEO Garett Macdonald.

Drilling at the Wisteria zone outside the proposed Hammerdown pit shell returned a highlight of 92.1m grading 1.4g/t gold, which could reduce the strip ratio and improve project economics.

Maritima said its 2021 exploration programme would commence this week with two drill rigs and 12,000m of drilling planned between the Hammerdown and Orion deposits.

Shares in Maritime Resources are trading at C14c, valuing the company at $44 million.