Maritime Resources: Advancing its Hammerdown Gold Projects
Developing the Hammerdown gold projects in Newfoundland and Labrador
Maritime Resources holds a 100% interest in the Green Bay Property. This includes the former Hammerdown gold mine and Orion project plus the Whisker Valley exploration project. Further, these are all located near the Baie Verte Mining District and King’s Point, Newfoundland and Labrador. The Hammerdown gold deposit is characterized by near-vertical, narrow mesothermal quartz veins containing gold in pyrite.
More on Hammerdown
The Hammerdown gold deposit was successfully mined by Richmont Mines between the years 2000 and 2004. This was while gold prices averaged US$325/oz. During its operation a total of 291,400 tonnes of ore were mined and milled, at an average grade of 15.83 g/t Au, recovering a total of 143,000 ounces of gold. All of the ore was processed at the Nugget Pond mill, now owned and operated by Rambler Metals, with an average gold recovery of 97.1%. Mining concluded in 2004 due to low gold prices with mineralization remaining, although uneconomic at that time. The Orion gold deposit, located approximately 2 kilometers to the southwest of the Hammerdown mine, consists of two main vein systems, both of which are open along strike, up and down plunge.
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