Overview

Land holdings & Ownership

Maritime Resources Green Bay property encompasses 98 square kilometers (22,216 acres) held under 34 individual mineral licences. Sixty-five percent of the licences are owned 100% by Maritime, while 35% are under option agreements to earn 100% ownership. The Green Bay property hosts the historical Hammerdown gold mine and the Orion gold deposit along with the Lochinvar zinc/silver rich VMS deposit all of which are held under individual mining leases.

Location

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.

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, 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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