Overview

Ownership

100% owned by Maritime Resources Corp.

Location & land holdings

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. The Property is situated on North American Topographic Sheet (NTS) 12H/08 and 09 and is centered on coordinates 554475 East, 5488890 North.

Maritime Resources holds 100% of the 51.7 square kilometre (12,775 acres) Green Bay property which hosts the past producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5 km distance, and the Lochinvar precious metals deposit.

History

The Hammerdown gold deposit was successfully mined by Richmont Mines between the years 2000 and 2004 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 consists of two main vein systems, both of which are open along strike, up and down plunge.


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