Overview

Maritime Resources holds over 450 km² of highly prospective land in the greater Baie Verte mining district of Newfoundland and Labrador. This historic mining region hosts 15 past producing base metal and gold mines, over 400 significant mineral prospects and several current development projects for gold and copper. Local mining infrastructure includes two gold processing facilities (both owned by Maritime Resources) and one copper concentrator. 

Maritime’s primary exploration projects within the province of Newfoundland and Labrador include Green Bay (Au), Point Rousse (Au), Whisker Valley (Cu-Au-Mo) and Gull Ridge (Ni-Cu-Co-PGMs). In the Abitibi region of Quebec, Maritime owns the Lac Pelletier gold project near the town of Rouyn Noranda. 

The company’s exploration properties straddle two major fault systems, the Baie Verte Fault Line (BVL) and the Green Bay Fault. Hydrothermal systems generated during the Silurian Taconic orogeny are thought to be responsible for deposition of epigenetic lode gold deposits in this region. It is believed that these regional fault structures and closely related splay faults played a significant role in the formation of these gold deposits. 

Maritime’s properties are strategically located to target the gold potential along this significant regional structural belt, that has juxtaposed a wide variety of rock types originating from a variety of depositional environments. This structural zone has geological and structural similarities to the world-class gold producing Destor-Porcupine and Cadillac-Larder Lake Gold Camps of Ontario and Quebec. Both of these regional breaks are located in the Abitibi Greenstone Belt and have produced over 180 million ounces of gold since the early 1900’s. Similarities of this gold productive region to Maritime’s Springdale – Baie Verte Peninsula properties include:

• Association with a regional deep crustal fault zone and important conduits for gold bearing fluids.
• Gold mineralization is epigenetic, structurally controlled and often associated with splays or secondary structures off regional-scale fault zones.
• Gold mineralization occurs in a wide range of rock types, and styles 

Maritime’s exploration on the Green Bay, Gull Ridge and Whisker Valley projects has recognized the importance of large-scale regional structures as the conduits for the localization and transport of mineralizing fluids and the secondary splay structures as a depositional environment for these fluids. This mineralizing system has been demonstrated at the Hammerdown gold deposit where high grade gold and significant widths have been achieved. Between 2000 – 2004 Richmont Mines produced a total of 143,000 ounces from 291,400 tonnes of ore at a grade of 15.83 g/t gold. Similarities have also been recognized between the mineralization at Hammerdown with the gold mineralization discovered on Maritime’s adjacent Whisker Valley property. 

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