The Hammerdown gold project in Newfoundland. Credit: Maritime Resources
Canadian explorer Maritime Resources (TSXV: MAE) said drilling at its Hammerdown project in Newfoundland and Labrador identified a new near-surface gold zone with “substantial” grades. The stock jumped.
Hole HDGC-25-272 cut 13.9 metres grading 24.5 grams gold per tonne from 11 metres depth, including 8 metres at 42.2 grams from 17 metres, Maritime said Wednesday in a statement. Another hole, HDGC-25-276, cut 13.5 metres at 7.2 grams from 22.5 metres downhole.
Located in the Baie Verte mining district, about 500 km west of the provincial capital St. John’s, the brownfield Hammerdown is due to start producing this year.
With major permitting now complete, the company is focusing on site development and mine pre-stripping work this summer. The Pine Cove mill, which recently restarted operations using stockpiled feed, is being…
