- Maritime Resources (MAE) has announced drill results from its exploration program at its projects in Newfoundland and Labrador
- Exploration teams have been testing the gap between the Orion and Hammerdown deposits and has discovered a new near surface zone at Orion North
- The company also released updated results from the 2020 exploration program at Whisker Valley
- Maritime Resources (MAE) opened trading at $0.19 per share
Maritime Resources (MAE) has announced drill results from its exploration program in the Baie Verte Mining District in Newfoundland and Labrador.
Much of the 2021 drilling has taken place at the Orion deposit, where the company has been testing the gap between the Orion and Hammerdown deposits.
In the northern section of the Orion deposit, exploration teams intersected a new near surface mineralized zone that was traced over 550 metres and included the following results:
- Drill hole BB-21-170 intersected 12.43 g/t Au and 2.15 g/t Ag over 1.20 metres, including 50.60 g/t Au and 7.90 g/t Ag over 0.20 metres.
- The northernmost drillhole BB-21-176 intersected 10.68 g/t Au and 2.70 g/t Ag over 0.33 metres and is open towards the Hammerdown deposit.
- Drill hole BB-21-175 intersected multiple high-grade veins containing 6.79 g/t Au over 0.20 metres, 17.08 g/t Au over 0.20 metres, 11.48 g/t Au over 0.20 metres, and 10.19 g/t Ag over 0.20 metres, all within 100 vertical meters from surface.
Garett Macdonald, president and CEO of Maritime Resources, commented on the results.
“We are encouraged to see continuity and multiple new high-grade veins being intersected in shallow, broadly spaced exploration holes as we test the gap between the Hammerdown and Orion Deposits,” he said. “As drilling continues to test this minimally explored corridor, there is a strong probability for the discovery of additional mineralized veins.”
Maritime Resources also released updated results from the 2020 exploration program at Whisker Valley, which identified a new upper mineralized lens that returned 23.40 g/t Au, 46.80 g/t Ag and 0.64 per cent Cu over 0.34 metres.
The company has planned additional drilling at Whisker Valley in 2021 to follow up on the 2020 results.
Exploration activities are underway with two drills exploring along the highly prospective Hammerdown Deformation Zone and will work outwards to new high priority targets throughout 2021 and into 2022.
Maritime Resources holds a 100 per cent interest in the Green Bay Property, including the former Hammerdown gold mine and Orion project plus the Whisker Valley exploration project.
Maritime Resources (MAE) opened trading at $0.19 per share.