Maritime Drills 49.4 gpt Gold over 2.6 Metres, Including 153.9 gpt Gold over 0.6 Metres at the Hammerdown Gold Project

In This Article:

Toronto, Ontario--(Newsfile Corp. - April 23, 2025) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce final drill results from a grade control drill program at the Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale.

Highlights:

  • 49.4 grams per tonne ("gpt") gold ("Au") over 2.6 metres ("m"), including 153.9 gpt Au over 0.6 m in drill hole HDGC-25-235

  • 94.5 gpt Au over 0.2 m in drill hole HDGC-25-265

  • 25.8 gpt Au over 0.8 m, including 90.5 gpt Au over 0.2 m in drill hole HDGC-25-251

  • 12.3 gpt Au over 1.0 m, including 38.3 gpt Au over 0.3 m in drill hole HDGC-25-244

  • 5.1 gpt Au over 11.7 m in drill hole HDGC-25-241 in backfill material

Garett Macdonald, President and CEO of Maritime comments, "The final set of drill results from the grade control drilling program cover the Rumbullion zone, an area of narrow high grade quartz veins approximately 300 m east of the core of the Hammerdown deposit. The grade control drilling program has demonstrated high grade gold mineralization at surface, the position of the historic mine workings, as well as the presence of gold mineralization within the backfilled stopes. Conclusion of the grade control program marks the successful achievement of another important de-risking step for the development of the Hammerdown Gold Project."

Discussion of Results

The Rumbullion zone, located approximately 300 m east of the core Hammerdown deposit, is interpreted as an eastern extension of the same mineralized system. It is characterized by a noticeable change in the orientation of the deposit to a SW-NE trend. Mineralization in the Rumbullion area is comprised of steeply dipping, shear-hosted quartz veins with associated sulfide and gold mineralization. While portions of the zone were historically mined by Richmont Mines between 2000-2004, significant areas remain underdeveloped. Recent drilling focused on this zone to improve definition and support future mine planning.

Notable assay results include drill hole HDGC-25-235 which returned 49.4 gpt Au over 2.6 m, including 153.9 gpt Au over 0.6 m, followed by a second lower vein and shear zone intersection returning 5.4 gpt Au over 1.2 m, including 23.2 gpt Au over 0.2 m. This drill hole is located in close proximity to the historic underground mine workings and is representative of the style and grade of mineralization that was historically mined in the area. Drill hole HDGC-25-235 is located 11 m west of previously reported hole HDGC-25-231 which returned 27.8 gpt Au over 0.9 m (Maritime press release dated March 14, 2025). The intersection in hole HDGC-25-231 was significantly narrower than that in hole HDGC-25-235, due to faulting observed along the vein contact.