Maritime starts 1,000 m of drilling at Whisker
MARITIME RESOURCES Corp. has begun its initial drill program on the Whisker gold project which is located approximately 10 kilometres from the Hammerdo wn gold deposit on the Green Bay property in Newfoundland and Labrador, Canada.
The Whisker Valley drill program will focus on a gold vein system that was trenched and channel sampled in the fall of 2017. Results from that program showed continuous gold values in individual veins that occur in a zone that has been traced at surface for over 200-metre strike length. Individual channel sample results from the veins were documented in a series of news releases by Maritime Resources available on the company’s website.
The company subsequently completed a detailed IP survey in early 2018 that was designed to test the depth potential of the known vein system as well as search for extensions to the east and west ends of the veins. The IP geophysical survey provided a coincident chargeability response with the Whisker gold vein system and extended the footprint of the mineralized zone to a potential 500-metre strike length (see news release No. 18-23, Sept. 26, 2018). The gold veins carry disseminated pyrite and base metals sulphides which appear to provide the IP response. Other anomalies identified in this survey have yet to be investigated.
The initial drill program will consist of approximately 1,000 metres of drilling. The first three holes are planned below the trench areas to test the depth extent and identify structures hosting the gold vein system. At this point little is known about the structures controlling the veins that have variable dip and strike orientations.
The drilling contract has been awarded to local contractor Springdale Forest Resources Inc.
Maritime would like to thank the government of Newfoundland and Labrador for approving the Whisker Valley project under its JEA mineral incentive program.
Stock option grant
Maritime also announces that, in accordance with the company’s stock option plan, it will grant new and existing directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of up to 4,805,000 common shares exercisable on or before Dec. 6, 2023, at a price of 11 cents per share.
About Maritime Resources Corp.
Maritime Resources holds 100 per cent of the Green Bay property, located near Springdale, Nlfd. The property hosts the past-producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5-kilometre distance that sits within an overall strike length of 4,000 metres. As well the Lochinvar base metals/precious metals deposit sits to the northeast end of the Rumbullion deposit.
Bernard H. Kahlert, PEng, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.
We seek Safe Harbor.
Maynard Elliott Brown, Douglas Allan Fulcher, Bernard Hans Kahlert, Peter Mercer, Eric William Norton, Andrew F Pooler, Allan William Williams
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