Maritime Resources: High Returns Expected on Gold Project
P.E.A. completed and feasibility study underway
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. Furthermore, they’re all located near the Baie Verte Mining District and King’s Point, Newfoundland and Labrador.
Hammerdown Gold Deposit
Maritime Resources is anticipating gold production of 70 thousand ounces a year over the first five years of mine life. In addition, a P.E.A. has been completed and feasibility study is underway.
The Property is located approximately 5 km southwest of the Town of King’s Point and approximately 15 km northwest of the Town of Springdale in Newfoundland & Labrador. Moreover, the Hammerdown gold deposit is characterized by near-vertical, narrow mesothermal quartz veins containing gold in pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004 producing 143,000 ounces of gold at an average mine grade of 15.7 gpt Au through a combination of narrow vein open pit and underground mining.
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