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Maritime Resources Intersects 5.1 Gpt Gold over 5.8 Metres at Whisker Valley, Including 21.1 Gpt Gold over 0.5 Metres and 9.2 Gpt Gold over 2.1 Metres

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Maritime Resources Intersects 5.1 Gpt Gold over 5.8 Metres at Whisker Valley, Including 21.1 Gpt Gold over 0.5 Metres and 9.2 Gpt Gold over 2.1 Metres

 

 

 

 

 

Maritime Resources Corp. (TSX-V: MAE) is pleased to announce additional assay results from its ongoing exploration program at the Whisker Valley Project  located near the towns of King’s Point and Springdale, Newfoundland and Labrador. Whisker Valley is located approximately 6 kilometres northwest of the Company’s Hammerdown Gold Project (Figure 1.). Maritime is completing an initial 5,000 metre (“m”) diamond drilling program to test the potential strike and depth extension of the high-grade Gary vein system and to test similar highly prospective gold bearing zones on the property. A total of 1,600 m of drilling has been completed to date.

 

Highlights

 

  • New zone of mineralization encountered at Whisker Valley at a depth of 150 m below surface (Figures 2 & 3.)
  • Drill hole WH-20-12 intersected 5.1 gpt Au over 5.8 m, including 21.1 gpt Au and 0.35% Cu over 0.5 m and 9.2 gpt Au and 0.1% Cu over 2.1 m
  • New airborne VTEM and ZTEM geophysics surveys initiated over Whisker Valley and Hammerdown Gold Projects including

 

“This recent intersection at Whisker Valley is particularly important as it lies directly on trend between the existing Gary Vein System on the west side of the valley and the Gold Pit veins located on the east side. The mineralization encountered in hole WH-20-12 bears a sharp resemblance to our nearby Hammerdown Gold Project with high grade gold associated with pyrite mineralization in quartz veins, including visible gold,” commented Garett Macdonald, President and CEO. “An initial diamond drill program of 5,000 m is currently underway across the Gary Vein system and its interpreted 1,000 m strike length up to a depth of 150 m below surface. Results from other drill holes along this trend are still pending (WH-20-11 and WH-20-13). We have also initiated new VTEM and ZTEM geophysics surveys designed to look for deep structures down to a depth of 2,000 m.”

 

Figure 1: Whisker Valley and Hammerdown Gold Project

 

Figure 2: Plan view map of Whisker Valley Project

 

Figure 3: Whisker Valley WH-20-12 Core Photo

 

 

Table 1. Summary of Assay Results

 

 

Hole ID From
(m)
To
(m)
Length
(m)
Au g/t Ag g/t Cu %
WH-20-12 167.0 172.8 5.8 5.14 2.60 0.07
Including 167.0 167.5 0.5 21.10 14.1 0.34
Including 170.7 172.8 2.1 9.19 3.64 0.10

 

 

Table 2. Drill Hole Details

 

 

DDH No. Northing Easting Elevation Collar
Azimuth
Collar
Dip
Total          Depth
(m)
WH-20-11 5496653 548010 279 45° 220
WH-20-12 5496595 47682 281 45° 313
WH-20-13 5496779 547453 305 45° 250

 

 

Warrant Expiry Date

 

In November 2018, the Company issued common share purchase warrants and finder’s warrants (collectively the “2018 Warrants”), which under the terms of the 2018 Warrants are scheduled to expire on November 7, 2020 at 4:30 p.m. PST. Since November 7, 2020 falls on Saturday, a non-business day, in accordance with the Interpretation Act (BC), the Company will interpret and treat the 2018 Warrants as expiring on Monday, November 9, 2020, the next day the office is open during its regular business hours. Approximately 17 million 2018 Warrants remain outstanding and will expire, if unexercised, on Monday November 9, 2020 at 4:30 p.m. PST.

 

Analytical Procedures

 

All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

 

About Maritime Resources Corp.

 

Maritime holds a 100% interest in the Green Bay Property, including the former Hammerdown gold mine and Orion project plus the Whisker Valley exploration project, all located near the Baie Verte Mining District and King’s Point, Newfoundland and Labrador. The Hammerdown Gold Deposit is characterized by near-vertical, narrow mesothermal quartz veins containing gold in pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004.

 

Posted November 5, 2020

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