EXPLORATION & DEVELOPMENT

Maritime Resources extends Hammerdown mineralisation 150m

Maritime Resources has reported a new extension to mineralisation at its Hammerdown gold project in the Baie Verte mining district of Newfoundland and Labrador in Canada.

Staff reporter
Cross-section of Maritime Resources' Hammerdown deposit in Canada

Cross-section of Maritime Resources' Hammerdown deposit in Canada

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.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Q1 Mining Equities Report 2023

Discover new trends in mining investment with insights into capital raisings and share price performance of more than 2,500 companies.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.