Maritime Resources controls a number of highly prospective gold exploration projects including the Green Bay, Whisker Valley and Gull Ridge. These properties are strategically located on the Baie Verte and Springdale Peninsulas, a prolific gold and base metals mining district. This region hosts 15 past producing base metal and gold mines, 2 currently producing mines and 371 significant gold and base metal prospects. Despite the rich mineral endowment exemplified in this region, mineral exploration efforts in the past have been localized and sporadic in nature.
Maritime’s Green Bay, Whisker Valley and Gull Ridge properties straddle two major fault systems, the Baie Verte Fault Line 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 (BVL), that has juxtaposed a wide variety of rock types originating from a variety 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 to date on its Green Bay and Whisker Valley projects has recognized the importance of these 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 gold rich fluids. This mineralizing system has been productive and formed the Hammerdown Mine gold deposit where high grade gold and significant widths have been demonstrated. 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.
The results achieved to date on the Whisker Valley and Gull Ridge properties have been very encouraging. In 2019, Maritime has an extensive exploration plan in place, focusing on 1.) advancing major gold targets identified to date and 2.) regional property wide exploration to identify targets that may have been missed as a result of the localized and sporadic nature of the historical work. The program will entail geological and structural mapping, sampling, ground geophysics, trenching and diamond drilling. Work will commence in Spring 2019 with a 1,000 line kilometer airborne geophysical survey covering Maritime’s entire Whisker Valley and Gull Ridge properties.