2021 News

TORONTO, ON (June 22, 2021) - Maritime Resources Corp. (TSX.V: MAE) (“Maritime” or the “Company”) is pleased to announce drill results from its ongoing 40,000 metre (“m”) exploration program at the Hammerdown Gold Project (“Hammerdown” or the “Project”), and its Whisker Valley Property, in the Baie Verte Mining District of Newfoundland and Labrador, Canada. 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.

Highlights:

Orion North – new near surface zone traced over 550m

  • Drill hole BB-21-170 intersected 12.43 gpt Au and 2.15 gpt Ag over 1.20 m, including 50.60 gpt Au and 7.90 gpt Ag over 0.20 m.
  • The northernmost drillhole BB-21-176 intersected 10.68 gpt Au and 2.70 gpt Ag over 0.33 m and is open towards the Hammerdown deposit.
  • Drill hole BB-21-175 intersected multiple high-grade veins containing 6.79 gpt Au over 0.20 m, 17.08 gpt Au over 0.20 m, 11.48 gpt Au over 0.20 m and 10.19 gpt Ag over 0.20 m, all within 100 vertical meters from surface.

Orion – Additional drilling targets areas of thicker, high grade shoots of mineralization to greater depths

  • BB-21-167, drilled 60 m beneath a newly identified thick high-grade shoot of the Orion Deposit, intersected 33.35 gpt Au and 5.40 gpt Ag over 0.24 m and 3.72 gpt Au over 7.14 m, including 5.69 gpt Au over 3.53 m.
  • BB-21-154 intersected numerous mineralized zones with 2.30 gpt Au and 0.50 gpt Ag over 12.00 m, including 5.19 gpt Au and 1.01 gpt Ag over 3.50 m.

Whisker Valley - Gary vein system defined over 1,000 m in strike length during 2020 drilling

  • Updated results from Whisker Valley drill hole WH-20-12 identified a new upper mineralized lens that returned 23.40 gpt Au, 46.80 gpt Ag and 0.64% Cu over 0.34 m. Screened metallic sieve analysis of the previously announced interval from WH-20-12 mineralization significantly upgraded the grade of the mineralized intercept to 5.74 gpt Au over 6.32 m, including 22.42 gpt Au, 14.08 gpt Au and 0.35% Cu over 0.50 m and 9.63 gpt Au, 3.06 gpt Ag and 0.08% Cu over 2.60 m.
  • WH-20-20 Intersected multiple narrow high-grade intervals containing 5.07 gpt Au and 3.78 gpt Ag over 1.23 m, including 11.07 gpt Au and 8.49 gpt Ag over 0.53 and 3.53 gpt Au, 1.83 gpt Ag and 0.14% Cu over 1.18 m, including 18.24 gpt Au, 6.0 gpt Ag and 0.65% Cu over 0.20 m.

“Drilling at Orion North continues to intersect high-grade mineralization over narrow widths. This new zone of mineralization has now been traced over 550 m in strike length to a depth of 100 m below surface. 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. As drilling continues to test this minimally explored corridor, there is a strong probability for the discovery of additional mineralized veins,” commented Garett Macdonald, President and CEO. “At Whisker Valley our initial exploration program completed in 2020 successfully traced gold mineralization over a strike length of 1,000 m and to depths of 150 m below surface. It is common for narrow vein gold deposits to pinch and swell and we will be focused on locating wider zones that may be amenable to extraction,” added Mr. Macdonald. 

Orion Deposit

Recent drilling at the Orion deposit and new Orion North zone have intersected several quartz veins containing high-grade gold and meaningful amounts of silver. These zones lie along the Hammerdown deformation zone, an important 4-km long trend hosting the Orion and Hammerdown gold deposits, that has seen minimal exploration drilling over the years. The Orion North zone lies between these deposits and has now been traced over a strike length of 550 m and is open to the northeast. Drilling on this zone recently intersected 12.40 gpt Au and 2.15 gpt Ag over 1.20 m, including 50.60 gpt Au and 7.90 gpt Au over 0.20 m in drill hole BB-21-170 near surface, at a depth of 35 m. Along strike, approximately 50 m to the northeast towards Hammerdown, drill hole BB-21-175 intersected six new quartz veins starting at 46.00 m and extending to 131.88 m down the hole including 0.86 gpt Au over 3.85 m, 17.08 gpt Au over 0.20 m, 11.48 gpt Au over 0.20 m and 10.19 gpt Au over 0.20 m. The Orion North zone is open in all directions. 

Drilling at the main Orion zone is focused on testing the extents of two styles of mineralization – narrow quartz veins with high-grade gold and quartz feldspar porphyry (“QFP”) dykes with wide zones of lower grade disseminated gold.  Drill hole BB-21-154 intersected 2.30 gpt Au over 12.00 m, including 5.19 gpt Au over 3.50 m at a depth of 195 m below surface. Other notable intersections at Orion included 4.19 gpt Au over 3.00 m in drill hole BB-21-158 and 4.13 gpt Au over 2.28 m in drill hole BB-21-161. Deeper in the Orion deposit, drill hole BB-21-167 intersected the EMS zone at 219.04 m downhole with 33.35 gpt Au and 5.40 gpt Ag over 0.24 m and the main zone at 346.89 m downhole with 3.72 gpt Au over 7.14 m, including 5.69 gpt Au over 3.53 m. The main Orion zone remains open at depth and along strike. 

Figure 1:  Drill Hole Location Map (Orion to Hammerdown) Click to enlarge

 

Figure 2:  Long Section (Orion to Hammerdown) click to enlarge

 

Whisker Valley

Maritime’s 2020 exploration program at Whisker Valley’s Gary vein system defined a new zone of multiple veins containing gold, silver and copper mineralization spanning over 1,000 m in strike length down to a vertical depth of 150 m. This zone remains open in all directions. Additional assay results for drill hole WH-20-12 returned 23.40 gpt Au, 46.80 gpt Ag and 0.64% Cu over 0.34 m starting at 93.55 m downhole.  Updated results were also received by re-assaying the previously released interval from 166.95 m (see press release dated November 5, 2020) with screened metallics due to the presence of coarse gold. With this new information, the re-assayed interval now grades 5.74 gpt Au over 6.32 m, including 22.42 gpt Au, 14.08 gpt Au and 0.35% Cu over 0.50 m and 9.63 gpt Au, 3.06 gpt Ag and 0.08% Cu over 2.60 m.

Additional drilling included drill hole WH-20-20, collared 50 m west of WH-20-12 which also intersected two veins with 5.07 gpt Au and 3.78 gpt Ag over 1.23 m, including 11.07 gpt Au and 8.49 gpt Ag over 0.53 m starting at 71.20 m, and 3.53 gpt Au, 1.83 gpt Ag and 0.14% Cu over 1.18 m, including 18.24 gpt Au, 6.0 gpt Ag and 0.65% Cu over 0.20 m starting at 191.72 m. A number of additional geological and geophysical targets were drilled in 2020 targeting mineralization outcropping east of the historic Mackenzie Showing including drill hole WH-20-19 which intersected 3.33 gpt Au and 2.49 gpt Ag over 0.86 m including 0.30 m grading 6.96 gpt Au and 4.7 gpt Ag. Additional drilling is planned in 2021 at Whisker Valley to follow up on the depth extensions of the Gary vein system and test several strong geophysical targets. In total eight drillholes comprising of 1,856 m were completed at the Gary vein system in 2020.  A ninth hole (WH-20-21) was drilled to a depth of 82.0 m and was lost due to faulting.

Figure 3: Drill Hole Location Map - Whisker Valley (click to enlarge)

 

Figure 4: Long section – Whisker Valley (click to enlarge)

Table 1: Orion and Hammerdown

Hole ID

From

To

Length

Au g/t

Ag g/t

Orion

BB-21-150

95.3

95.9

0.6

2.73

0.77

BB-21-150

139.7

140.1

0.4

1.26

0.10

BB-21-151

195.6

195.8

0.2

2.71

6.10

BB-21-151

232.0

234.0

2.0

0.61

0.10

BB-21-151

298.0

299.0

1.0

1.28

0.40

BB-21-151

301.0

301.4

0.4

0.57

0.60

BB-21-151

306.2

311.3

5.1

1.34

0.23

Including

306.2

306.8

0.6

6.85

0.47

Including

307.6

307.8

0.2

0.86

0.10

Including

308.3

309.5

1.2

1.31

0.27

Including

311.1

311.3

0.2

2.24

0.10

BB-21-151

321.6

323.0

1.4

2.15

1.10

BB-21-151

332.9

333.5

0.6

0.89

2.60

BB-21-152

40.8

41.0

0.2

11.25

14.00

BB-21-152

43.5

43.7

0.2

43.81

10.50

BB-21-152

50.0

51.0

1.0

0.67

0.10

BB-21-152

69.4

70.0

0.5

0.93

0.20

BB-21-152

86.0

87.4

1.4

1.81

2.03

BB-21-152

95.0

99.0

4.0

0.69

0.18

BB-21-152

101.2

103.0

1.8

0.72

0.32

BB-21-152

110.8

111.0

0.2

24.70

5.90

BB-21-152

128.6

130.0

1.4

0.84

0.1

BB-21-152

132.0

132.6

0.6

3.64

0.8

BB-21-152

138.0

139.0

1.0

1.09

0.10

BB-21-153

16.0

16.7

0.7

0.78

0.71

BB-21-153

35.2

36.0

0.9

9.50

11.99

BB-21-153

37.6

37.8

0.2

2.80

12.80

BB-21-153

105.1

105.5

0.4

1.25

0.40

BB-21-153

122.2

122.6

0.5

2.48

0.78

BB-21-153

123.6

123.8

0.2

0.79

0.10

BB-21-153

143.7

143.9

0.2

0.74

0.10

BB-21-153

156.5

156.7

0.2

2.13

0.10

BB-21-153

157.8

158.0

0.2

4.04

0.20

BB-21-153

160.9

163.5

2.6

1.87

0.16

BB-21-153

164.8

165.0

0.2

1.56

0.10

BB-21-153

169.3

169.5

0.2

1.91

0.10

BB-21-153

174.2

174.8

0.6

2.75

1.03

BB-21-153

187.0

187.3

0.3

0.73

0.10

BB-21-153

198.0

198.5

0.5

1.84

1.20

BB-21-153

199.0

199.6

0.6

0.51

0.50

BB-21-153

205.6

205.8

0.2

26.93

1.60

BB-21-154

53.0

53.3

0.3

6.10

4.50

BB-21-154

60.3

62.8

2.5

0.83

2.81

BB-21-154

152.0

152.5

0.5

0.58

0.20

BB-21-154

166.0

167.0

1.0

0.97

0.10

BB-21-154

181.8

182.1

0.3

1.10

0.10

BB-21-154

183.5

195.5

12.0

2.30

0.55

Including

183.5

189.3

5.8

1.44

0.39

Including

190.0

190.5

0.5

0.98

0.40

Including

192.0

195.5

3.5

5.19

1.01

BB-21-154

199.1

200.4

1.3

1.12

0.28

BB-21-154

202.5

205.2

2.7

1.00

0.25

BB-21-154

205.5

208.0

2.5

0.98

0.28

BB-21-154

208.4

208.7

0.3

2.74

0.40

BB-21-154

211.5

212.0

0.5

0.68

0.50

BB-21-155

110.5

110.7

0.2

2.62

0.90

BB-21-155

112.8

113.2

0.5

6.44

13.70

BB-21-155

159.0

159.3

0.3

9.70

1.00

BB-21-155

208.0

209.0

1.0

0.75

0.10

BB-21-155

216.5

218.0

1.5

1.69

0.29

BB-21-155

220.7

226.5

5.8

2.02

0.32

BB-21-156

89.5

90.0

0.5

0.56

3.00

BB-21-156

90.5

91.5

1.0

1.03

3.00

BB-21-156

94.7

94.9

0.2

0.69

1.40

BB-21-156

97.1

97.4

0.3

0.73

25.70

BB-21-156

210.5

211.0

0.5

0.57

0.40

BB-21-156

218.0

221.0

3.0

1.31

0.20

BB-21-156

227.6

228.0

0.4

0.54

0.40

BB-21-156

246.1

248.0

1.9

2.63

0.44

BB-21-156

257.5

258.5

1.0

0.62

0.10

BB-21-156

259.5

264.0

4.5

1.85

0.32

BB-21-156

264.5

265.0

0.5

0.64

0.20

BB-21-156

269.5

270.0

0.5

1.10

0.40

BB-21-156

275.0

280.0

5.0

0.96

0.15

BB-21-156

281.0

281.4

0.4

0.73

0.10

BB-21-157

58.3

58.5

0.2

2.38

2.10

BB-21-157

123.0

123.7

0.7

1.54

8.80

BB-21-157

172.0

173.6

1.6

2.30

0.78

BB-21-157

216.0

216.5

0.5

2.06

2.20

BB-21-157

241.4

245.5

4.1

1.83

0.72

BB-21-158

131.9

132.1

0.2

0.88

1.10

BB-21-158

144.1

144.3

0.2

5.67

5.20

BB-21-158

148.0

149.5

1.5

1.04

1.89

BB-21-158

243.2

243.4

0.2

2.78

0.60

BB-21-158

252.5

255.5

3.0

4.19

0.28

BB-21-158

257.0

257.3

0.3

1.27

0.80

BB-21-158

258.4

259.5

1.1

0.99

0.61

BB-21-158

266.0

277.0

11.0

1.80

0.29

BB-21-159

105.4

105.6

0.2

0.92

0.50

BB-21-159

158.6

159.4

0.8

1.86

2.95

BB-21-159

269.7

270.0

0.3

0.58

0.10

BB-21-159

278.4

278.6

0.2

0.54

0.10

BB-21-159

278.9

279.1

0.2

0.50

0.10

BB-21-159

286.6

286.8

0.2

0.53

6.80

BB-21-159

289.7

290.4

0.7

3.33

0.10

BB-21-159

292.1

294.1

2.0

1.02

0.30

BB-21-159

295.0

297.0

2.0

1.99

0.34

BB-21-159

297.6

298.6

1.0

2.06

0.20

BB-21-159

300.2

302.1

1.9

2.70

0.42

BB-21-160

60.6

60.8

0.2

0.50

0.10

BB-21-160

222.0

223.0

1.0

2.99

0.64

BB-21-160

228.0

229.0

1.0

0.74

0.40

BB-21-160

261.0

266.0

5.0

2.13

0.78

BB-21-160

285.5

286.0

0.5

1.11

0.30

BB-21-160

288.0

290.0

2.0

1.82

0.20

BB-21-160

291.0

292.0

1.0

1.15

0.10

BB-21-161

98.3

98.5

0.2

4.42

4.30

BB-21-161

195.0

195.2

0.3

0.67

2.20

BB-21-161

263.2

263.4

0.2

1.64

0.10

BB-21-161

305.0

306.0

1.0

1.25

0.36

BB-21-161

307.1

307.5

0.4

0.74

0.40

BB-21-161

308.3

310.5

2.3

4.13

0.81

BB-21-161

311.0

313.0

2.0

1.48

0.15

BB-21-161

313.6

314.3

0.6

1.84

0.10

BB-21-161

317.8

318.1

0.3

4.81

0.70

BB-21-161

321.6

322.1

0.4

0.53

0.20

BB-21-161

323.7

324.0

0.3

3.39

0.70

BB-21-161

328.1

328.4

0.3

0.76

0.10

BB-21-162

70.0

71.0

1.0

0.40

0.95

BB-21-162

102.0

105.3

3.3

0.92

0.26

BB-21-162

107.4

111.0

3.6

1.64

0.86

BB-21-162

114.2

115.0

0.8

0.96

0.50

BB-21-162

123.0

124.5

1.5

1.86

0.86

BB-21-162

139.0

140.5

1.5

0.49

0.27

BB-21-162

143.9

146.5

2.6

1.33

0.14

BB-21-162

150.0

150.5

0.5

2.78

1.30

BB-21-162

162.5

167.0

4.5

1.47

0.82

BB-21-162

168.0

168.5

0.5

0.93

0.90

BB-21-163

89.7

89.9

0.2

3.46

0.10

BB-21-163

134.3

135.0

0.8

0.79

12.26

BB-21-163

277.0

278.0

1.0

0.55

0.20

BB-21-163

331.8

332.5

0.7

0.91

0.50

BB-21-163

335.5

336.0

0.5

0.69

0.60

BB-21-163

336.9

339.0

2.1

1.65

0.41

BB-21-163

343.2

344.0

0.8

1.64

0.43

BB-21-163

365.0

365.5

0.5

0.60

0.50

BB-21-163

367.5

368.8

1.3

1.19

0.64

BB-21-163

371.5

372.0

0.5

2.42

0.80

BB-21-163

373.5

375.5

2.0

1.50

0.88

BB-21-163

380.5

382.0

1.5

1.22

0.33

BB-21-163

384.5

385.5

1.0

0.85

0.30

BB-21-164

39.1

39.6

0.5

2.99

1.00

BB-21-165

32.0

33.8

1.8

0.65

0.16

BB-21-166

140.8

141.5

0.7

5.52

Pending

BB-21-167

219.0

219.3

0.2

33.35

5.40

BB-21-167

346.9

354.0

7.1

3.72

0.39

Including

350.5

354.0

3.5

5.69

0.48

BB-21-168

394.4

395.1

0.7

5.92

2.67

BB-21-168

399.5

400.0

0.5

6.63

1.00

BB-21-168

405.2

405.4

0.2

5.73

1.10

BB-21-168

408.7

408.9

0.2

16.79

1.70

BB-21-169

Pending

BB-21-170

36.5

37.7

1.2

12.43

2.15

Including

37.0

37.2

0.2

50.60

7.90

BB-21-170

38.4

39.0

0.6

0.80

0.70

BB-21-170

42.5

43.1

0.6

0.66

0.80

BB-21-171

Pending

BB-21-172

No Significant Results

BB-21-173

No Significant Results

BB-21-174

No Significant Results

BB-21-175

46.0

49.9

3.9

0.86

0.37

Including

47.9

48.1

0.2

6.787

1.6

BB-21-175

61.2

62.0

0.8

0.51

1.29

BB-21-175

72.7

73.3

0.6

0.55

2.31

BB-21-175

91.4

91.6

0.2

17.08

3.28

BB-21-175

128.1

128.3

0.2

11.48

2.75

BB-21-175

131.7

131.9

0.2

10.19

2.06

BB-21-176

60.4

60.8

0.3

10.68

2.70

Hammerdown

MP-20-166

45.0

46.0

1.0

0.94

0.20

MP-20-166

49.0

50.0

1.0

0.68

0.60

MP-20-166

51.0

51.4

0.4

0.59

0.10

MP-20-167

30.5

31.5

1.0

4.05

0.10

MP-20-167

34.0

35.8

1.8

1.82

0.16

MP-20-167

61.0

62.0

1.0

0.99

0.10

MP-20-167

63.2

64.0

0.9

0.74

0.30

MP-20-168

51.0

52.0

1.0

0.69

0.10

MP-20-168

54.0

55.0

1.0

1.21

0.30

MP-20-169

20.3

21.0

0.8

1.74

0.80

MP-20-169

22.0

22.2

0.2

0.55

0.50

MP-20-169

67.5

68.0

0.6

0.83

0.90

MP-20-170

13.0

14.0

1.0

0.74

0.80

MP-20-170

79.7

79.9

0.2

10.61

0.70

MP-20-170

92.1

93.0

0.9

0.54

0.20

MP-20-171

No Significant Results

MP-20-172

7.0

8.0

1.0

2.08

0.70

MP-20-172

19.0

20.0

1.0

1.69

1.10

MP-20-173

4.7

4.8

0.2

37.08

13.70

MP-20-173

14.1

14.6

0.4

15.22

5.05

MP-20-173

26.9

27.1

0.2

2.54

3.80

MP-20-173

30.0

31.0

1.0

1.05

1.40

MP-20-173

51.2

51.4

0.2

0.79

0.60

MP-20-174

13.0

14.4

1.4

4.14

3.61

MP-20-174

17.0

18.0

1.0

1.02

0.30

MP-20-174

43.0

43.3

0.3

0.61

0.70

MP-20-175

3.0

3.9

0.9

1.85

2.30

MP-20-175

38.1

38.3

0.2

9.98

2.70

MP-20-176

No Significant Results

MP-20-177

34.9

35.2

0.4

0.19

5.10

MP-20-178

21.3

21.5

0.2

1.57

1.10

MP-20-178

58.0

58.3

0.2

1.55

0.90

Hole ID

Northing

Easting

Elevation

Collar Azimuth

Collar Dip

Total Depth (m)

Orion

BB-21-150

5487954

554222

217

319ᵒ

-52ᵒ

151

BB-21-151

5487545

553793

213

317ᵒ

-55ᵒ

370

BB-21-152

5487711

553830

209

318ᵒ

-52ᵒ

172

BB-21-153

5487663

553849

212

320ᵒ

-53ᵒ

232

BB-21-154

5487683

553893

213

316ᵒ

-53ᵒ

241

BB-21-155

5487692

553946

215

316ᵒ

-52ᵒ

262

BB-21-156

5487591

553830

213

317ᵒ

-54ᵒ

319

BB-21-157

5487629

553873

214

319ᵒ

-54ᵒ

280

BB-21-158

5487638

553939

216

314ᵒ

-55ᵒ

322

BB-21-159

5487606

553911

216

315ᵒ

-55ᵒ

331

BB-21-160

5487583

553877

215

315ᵒ

-54ᵒ

340

BB-21-161

5487555

553849

215

320ᵒ

-53ᵒ

382

BB-21-162

5487660

553782

208

318ᵒ

-52ᵒ

202

BB-21-163

5487525

553832

216

315ᵒ

-56ᵒ

439

BB-21-164

5487415

553408

199

317ᵒ

-54ᵒ

322

BB-21-165

5487465

553305

186

318ᵒ

-52ᵒ

198

BB-21-166

5487665

553956

216

317ᵒ

-54ᵒ

331

BB-21-167

5487590

553961

220

316ᵒ

-55ᵒ

421

BB-21-168

5487518

553915

220

315ᵒ

-56ᵒ

481

BB-21-169

553898

5487447

212

314ᵒ

-57ᵒ

514

BB-21-170

5488030

554260

214

319ᵒ

-51ᵒ

82

BB-21-171

5488062

554294

214

321ᵒ

-51ᵒ

130

BB-21-172

5488051

553956

195

305ᵒ

-62ᵒ

322

BB-21-173

5488457

554047

181

306ᵒ

-44ᵒ

94

BB-21-174

5487898

553837

199

305ᵒ

-61ᵒ

262

BB-21-175

5488092

554337

214

321ᵒ

-50ᵒ

148

BB-21-176

5488126

554374

213

319ᵒ

-50ᵒ

112

Hammerdown

MP-20-166

5489024

554762

196

179ᵒ

-54ᵒ

61

MP-20-167

5489015

554737

195

180ᵒ

-56ᵒ

70

MP-20-168

5489026

554713

195

178ᵒ

-46ᵒ

61

MP-20-169

5489028

554687

191

179ᵒ

-55ᵒ

112

MP-20-170

5489067

554713

191

179ᵒ

-54ᵒ

130

MP-20-171

5489062

554762

193

180ᵒ

-53ᵒ

100

MP-20-172

5489041

555000

200

179ᵒ

-55ᵒ

61

MP-20-173

5489036

555100

201

180ᵒ

-46ᵒ

112

MP-20-174

5489043

555150

200

182ᵒ

-41ᵒ

55

MP-20-175

5489046

555100

201

180ᵒ

-60ᵒ

61

MP-20-176

5489247

554837

177

180ᵒ

-62ᵒ

301

MP-20-177

5489250

554862

177

180ᵒ

-61ᵒ

151

MP-20-178

5489198

554951

187

180ᵒ

-50ᵒ

121

Table 2: Whisker Valley

Hole ID

From

To

Length

Au g/t - Tot Metallics

Au g/t - Fire Assay

Ag g/t

Cu %

Zn %

Pb %

WH-20-07

32.4

32.6

0.2

 

3.25

16.70

6.79

0.03

0.03

WH-20-08

 

 

 

 

 

 

 

 

 

WH-20-09

 

 

 

 

 

 

 

 

 

WH-20-10

15.4

15.6

0.2

 

0.68

0.40

0.00

0.00

0.00

WH-20-10

18.0

18.2

0.2

 

0.91

0.60

0.00

0.01

0.00

WH-20-10

186.0

186.2

0.2

 

1.31

2.60

0.00

0.02

0.00

WH-20-10

199.9

200.3

0.4

 

0.64

2.10

0.03

0.07

0.00

WH-20-10

275.6

275.8

0.2

 

2.09

0.80

0.01

0.01

0.00

WH-20-11

72.5

73.0

0.5

 

2.78

4.90

0.12

0.00

0.00

WH-20-11

86.1

88.0

1.9

2.99

3.71

2.50

0.05

0.00

0.02

Including

86.1

86.5

0.4

5.06

5.06

0.30

0.05

0.00

0.04

and

87.1

88.0

0.9

3.92

5.44

5.00

0.07

0.00

0.01

WH-20-12

93.6

93.9

0.3

 

23.40

46.80

0.64

0.01

0.01

WH-20-12

108.1

108.3

0.2

 

1.00

2.00

0.01

0.00

0.00

WH-20-12

167.0

173.3

6.3

5.74

4.67

2.49

0.06

0.01

0.01

Including

167.0

167.5

0.5

22.42

21.16

14.08

0.35

0.01

0.11

and

170.7

173.3

2.6

9.63

7.27

3.06

0.08

0.01

0.01

WH-20-13

175.6

175.8

0.2

 

2.94

5.40

0.08

0.01

0.00

WH-20-14

52.7

53.1

0.4

 

0.93

15.30

0.02

0.01

0.04

WH-20-15

74.8

75.0

0.2

 

1.55

0.40

0.00

0.01

0.00

WH-20-15

99.0

99.9

0.9

 

2.21

5.83

0.09

0.01

0.00

WH-20-15

112.7

112.9

0.2

 

0.81

1.80

0.09

0.03

0.02

WH-20-15

113.4

114.1

0.6

 

7.03

12.82

0.09

0.01

0.00

WH-20-15

114.6

114.8

0.2

 

0.99

3.30

0.04

0.01

0.00

WH-20-15

150.6

150.8

0.2

 

1.43

4.80

0.01

0.01

0.00

WH-20-16

18.4

19.7

1.4

 

1.68

3.01

0.02

0.02

0.00

WH-20-17

108.0

108.7

0.7

 

0.50

0.70

0.04

0.01

0.00

WH-20-17

136.1

136.3

0.2

 

0.69

1.50

0.06

0.02

0.00

WH-20-17

159.2

159.4

0.2

1.55

1.49

5.50

0.02

0.01

0.00

WH-20-17

160.6

160.9

0.3

10.46

9.81

26.00

0.32

0.01

0.01

WH-20-17

163.3

163.5

0.2

6.63

5.80

11.00

0.07

0.00

0.01

WH-20-17

169.2

169.4

0.2

 

0.67

2.20

0.01

0.01

0.00

WH-20-17

173.5

173.7

0.2

 

1.36

3.80

0.00

0.00

0.00

WH-20-17

174.7

175.4

0.7

 

1.74

2.33

0.06

0.01

0.00

WH-20-17

229.4

229.6

0.2

 

4.51

7.40

0.16

0.01

0.02

WH-20-17

231.6

231.8

0.2

 

2.85

2.10

0.01

0.00

0.02

WH-20-17

236.1

236.3

0.2

 

1.72

2.50

0.08

0.03

0.11

WH-20-17

246.8

247.7

0.8

 

4.57

3.79

0.08

0.01

0.05

WH-20-18

70.3

70.5

0.2

 

0.55

2.10

0.16

0.00

0.00

WH-20-18

86.5

86.7

0.2

 

0.58

1.80

0.04

0.00

0.02

WH-20-18

89.8

90.0

0.2

 

2.02

1.80

0.01

0.01

0.00

WH-20-18

96.8

97.0

0.2

 

1.76

5.10

0.02

0.00

0.00

WH-20-18

98.1

98.3

0.2

 

3.66

10.50

0.05

0.00

0.00

WH-20-18

120.9

121.1

0.2

 

3.57

8.80

0.05

0.00

0.00

WH-20-18

126.2

126.5

0.3

 

0.56

0.40

0.00

0.01

0.00

WH-20-18

155.1

155.6

0.5

 

0.52

0.30

0.00

0.01

0.00

WH-20-18

156.1

156.3

0.2

 

0.95

0.90

0.01

0.01

0.00

WH-20-18

157.6

157.8

0.2

 

0.59

0.60

0.14

0.02

0.00

WH-20-18

165.3

165.6

0.3

 

1.48

4.00

0.22

0.00

0.09

WH-20-18

166.9

167.4

0.5

 

1.64

0.90

0.05

0.00

0.05

WH-20-19

87.6

88.5

0.9

 

3.33

2.49

0.01

0.01

0.00

Including

87.6

87.9

0.3

 

6.96

4.70

0.01

0.01

0.00

WH-20-20

66.3

66.5

0.2

 

0.52

1.70

0.02

0.10

0.15

WH-20-20

71.2

72.4

1.2

 

5.07

3.78

0.03

0.00

0.00

Including

71.9

72.4

0.5

 

11.07

8.49

0.05

0.00

0.01

WH-20-20

73.1

73.4

0.3

 

1.52

3.60

0.19

0.22

0.03

WH-20-20

92.1

92.3

0.2

 

4.48

2.00

0.02

0.01

0.00

WH-20-20

127.3

127.6

0.4

 

0.88

0.60

0.00

0.01

0.00

WH-20-20

128.1

130.0

1.9

 

0.63

0.77

0.02

0.01

0.00

WH-20-20

136.3

136.5

0.2

 

0.67

1.50

0.01

0.00

0.00

WH-20-20

191.7

192.9

1.2

 

3.53

1.83

0.14

0.01

0.00

Including

191.7

191.9

0.2

 

18.24

6.00

0.65

0.01

0.00

WH-20-21

76.3

76.5

0.2

 

0.61

0.80

0.02

0.01

0.00

WH-20-21

78.9

79.1

0.2

 

0.79

0.80

0.03

0.01

0.00

WH-20-22

7.0

7.6

0.6

 

0.54

0.30

0.00

0.00

0.00

WH-20-22

8.1

9.2

1.1

 

4.23

3.06

0.07

0.01

0.02

Including

8.1

8.3

0.2

 

12.60

8.60

0.02

0.01

0.04

and

9.0

9.2

0.2

 

9.39

7.00

0.33

0.01

0.07

WH-20-22

28.9

29.1

0.2

 

6.81

6.20

0.29

0.00

0.00

WH-20-22

31.7

32.4

0.7

 

0.83

1.07

0.02

0.01

0.01

WH-20-22

35.2

35.9

0.6

 

0.55

0.20

0.00

0.00

0.00

WH-20-22

41.5

41.7

0.2

 

2.19

5.60

0.06

0.00

0.00

Hole ID

Northing

Easting

Elevation

Collar Azimuth

Collar Dip

Total Depth (m)

WH-20-07

5496699

548240

298

149ᵒ

-43ᵒ

160

WH-20-08

5497126

547155

308

358ᵒ

-46ᵒ

241

WH-20-09

5496901

547044

319

357ᵒ

-44ᵒ

211

WH-20-10

5497302

547288

301

1ᵒ

-45ᵒ

313

WH-20-11

5496654

548010

282

1ᵒ

-44ᵒ

220

WH-20-12

5496595

547681

281

1ᵒ

-46ᵒ

316

WH-20-13

5496775

547453

304

357ᵒ

-46ᵒ

238

WH-20-14

5497029

547230

315

0ᵒ

-44ᵒ

151

WH-20-15

5496771

547276

322

359ᵒ

-48ᵒ

274

WH-20-16

5496833

547359

317

182ᵒ

-42ᵒ

244

WH-20-17

5496517

547680

279

359ᵒ

-45ᵒ

281

WH-20-18

5496586

547732

280

0ᵒ

-50ᵒ

273

WH-20-19

5498090

547251

284

0ᵒ

-50ᵒ

151

WH-20-20

5496592

547629

283

359ᵒ

-42ᵒ

205

WH-20-21

5496648

547959

281

0ᵒ

-45ᵒ

82

WH-20-22

5496947

547465

305

1ᵒ

-48ᵒ

49

About Maritime Resources Corp.

Maritime holds a 100% interest- directly and subject to option agreements entitling it to earn 100% ownership- in the Green Bay Property. This includes the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King’s Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000 and 2004. The Company also owns the gold circuit at the Nugget Pond metallurgical facility in Newfoundland and Labrador, the Lac Pelletier gold project in Rouyn Noranda, Québec and several other exploration properties and royalty interests in key mining camps across Canada.

On Behalf of the Board:

Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:

Tania Barreto, CPIR
Head of Investor Relations
1900-110 Yonge Street, Toronto, ON M5C 1T4
www.maritimeresourcescorp.com

Qualified Person:

Exploration activities at the Hammerdown Gold Project and Whisker Valley are administered on site by the Company’s Exploration Manager, Larry Pilgrim, P.Geo and Technical Advisor Jeremy Niemi, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Caution Regarding Forward Looking Statements:

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" “plans” and similar expressions. Forward-looking statements include statements concerning the potential to increase mineral resource and mineral reserve estimates, the Company’s decision to restart the Project, the Company’s plans regarding depth extension of the deposit at Hammerdown, the Company’s plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company’s plans regarding drilling targets previously identified, the anticipated timing of receiving permits for construction and development of Hammerdown and, and the Company’s acquisition of new mineral property interests and assets, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus and economic consequences thereof; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company’s proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company’s properties; uncertainty as to whether the acquisition of assets including the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.


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