Completes VTEM Survey In Labrador
Maritime Resources Corp. (TSXV: MAE) has made new gold discovery at the Hammerdown Gold Project in the Baie Verte Mining District of Newfoundland and Labrador, Canada.
This new discovery occurs along the favourable Hammerdown Deformation Zone between the current Hammerdown and Orion deposits and is open in all directions.
The company has also completed a new high resolution, helicopter borne geophysical VTEM survey with Geotech Ltd. across the entire Green Bay land holding which hosts the Hammerdown Gold Project.
President and CEO, Garett Macdonald, said the survey has identified several new targets including a large conductor between Hammerdown and Orion on the edge of where this new discovery was made,
Highlights:
• 22.73 gpt Au over 0.44m containing visible gold in drill hole BB-20-123 located at the new Orion North target, approximately 300 m NE of the Orion deposit
• 5.23 gpt Au over 13.00m, including 8.36 gpt Au over 3.90 m at Orion in drill hole BB-20-130
• 5.75 gpt Au over 4.00m, including 103.9 gpt Au over 0.20 m at Orion in drill hole BB-20-113
“While historically exploration has largely focused on the Hammerdown and Orion deposits, there has been limited drilling in the immediate surrounding area. In particular, the two-kilometre-wide gap between the Hammerdown and Orion deposits has not been explored,” Mr Macdonald said.
“Work is underway to test the Hammerdown Deformation zone in this promising area. The recently completed VTEM survey has identified several new anomalies on the company’s land holdings including the new Orion North target, located 300 m northeast of the Orion deposit along the Hammerdown Deformation Zone.
“The 2021 exploration drill programme is set to begin later this month and we will be following up on Orion North and other high priority targets in the area near Hammerdown with the goal of bringing new ounces into the future mine plan,” he said.
Four additional drill holes have been completed as 25 m step outs from BB-20-123, all of which have intersected multiple narrow quartz/sulphide veins similar in style and locally containing visible gold. Assays are pending for the step-out holes. Historical drilling in the area was limited and the newly discovered mineralization remains untested in all directions.
The new Orion North target is located in an area which has little historical drilling.
