Maritime Reports Up To 94 g/t Gold From Trenching at Green Bay Property in Newfoundland
January 10 2013 - 8:00AM
Marketwired Canada
Maritime Resources Corp. (TSX VENTURE:MAE) reports that final results have been
received for the 2012 Rumbullion trenching program at the Hammerdown deposit
near Springdale, Newfoundland. These assay results have returned numerous high
grade gold values along the Rumbullion Main (RM) vein, including values of up to
94.4 g/t gold over 0.3 metres width. The new values extend the strike length of
the vein, confirming and building upon the previously released (NR 12-11, dated
Sept. 12, 2012) values of up to 96.6 g/t gold over 0.3 metres. Trenching has now
exposed the RM vein at surface for over 120 metres. Work was terminated due to
the onset of winter weather but the vein remains robust at its eastern extension
and work can be resumed after spring break-up.
Almost 500 saw-cut channel samples have been taken along the exposed RM vein at
regular 4 metre intervals. Individual channel samples of the vein are very high
grade, assaying up to 94 g/t Au over 0.3 metres. When wall rock assays are added
and expanded to a minimum mining width of 1.2 metres, veins still average up to
23.9 g/t Au over 1.2 metres. The trenching and overburden conditions are still
favourable on strike to the east and the vein remains open, with the most
easterly sample assaying 60.75 g/t Au over 0.3 metres.
Mapping of the vein shows a typical lensoid nature of the vein, pinching and
swelling over the exposed 120 metre length. This is similar to the mined portion
of the western Rumbullion veins which were excavated between 2000 and 2004. The
trenching has also shown that the RM vein bifurcates (splits) into two veins for
a 75 metre extent of the exposed area. For reference, these are the named RM-1
and RM-2 veins and are separated by 2 to 3 metres.
Selected assay results of RM vein are shown below. A trenching diagram showing
the area of channel sample locations and tabulated assay results are available
on the Company's website.
----------------------------------------------------------------------------
Sample From - To Total Length Gold
Channel ID Zone Number (Meters) (Meters) (g/t)
----------------------------------------------------------------------------
RCS-12-17 RM Vein 2.60 - 3.90 1.30 18.15
---------------------------------------------------------------
(Including) 68392 3.55 - 3.90 0.35 64.03
----------------------------------------------------------------------------
RCS-12-12 RM-1 Vein 0.75 - 1.95 1.20 4.88
---------------------------------------------------------------
68334 1.50 - 1.75 0.25 19.58
----------------------------------------------------------------------------
RCS-12-29 RM-2 Vein 0.60 - 1.80 1.20 6.94
---------------------------------------------------------------
(Including) 83371 0.90 - 1.20 0.30 27.20
----------------------------------------------------------------------------
RCS-12-27 RM-1 Vein 0.60 - 1.80 1.20 12.77
---------------------------------------------------------------
(Including) 83357 1.10 - 1.40 0.30 75.92
----------------------------------------------------------------------------
RCS-12-24 RM-1 Vein 0.70 - 1.90 1.20 3.13
---------------------------------------------------------------
(Including) 68498 1.00 - 1.30 0.30 11.67
----------------------------------------------------------------------------
RCS-12-37 RM Vein 0.60 - 1.80 1.20 23.91
---------------------------------------------------------------
(Including) 83486 0.90 - 1.20 0.30 94.38
----------------------------------------------------------------------------
RCS-12-38 RM Vein 0.00 - 1.20 1.20 15.47
---------------------------------------------------------------
(Including) 83492 0.60 - 0.90 0.30 60.75
----------------------------------------------------------------------------
The 2012 trenching program has been successful in returning strong gold assays
over the Eastern Rumbullion Main vein. In this area of Eastern Rumbullion, a
total of six gold bearing veins have been identified by earlier drilling,
trending in a north-easterly direction. The RM vein is the only vein that is
available for surface trenching due to topographic constraints, but the six
veins are known to be spread over a zone about 125 metres wide which is open
along strike to the east.
Eric Norton, President and CEO of Maritime, states: "We are very pleased with
the results of our 2012 work. We have now demonstrated that the Rumbullion vein
system contains high grade mineralization over a significant length, very
similar to that mined at the adjacent Hammerdown mine. We look forward to
including these results in the NI43-101 compliant Resource Estimate which is
currently being prepared by Tetra Tech. The encouragement received from this
trenching program will now allow for planning a detailed drilling program to
search for and outline potentially mineable lenses of gold mineralization. Being
able to visibly follow this vein at surface clearly demonstrates its robust
nature, and the ease of possibly obtaining a bulk sample for metallurgical
testing."
QA/QC:
Bernard H. Kahlert, P.Eng. is the Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical disclosure
contained in this release. Quality assurance and quality control procedures
include the systematic insertion of blanks and standards into the drill and
channel sample strings. Samples are placed in sealed bags and shipped directly
to the Eastern Analytical lab in Springdale, NL prior for gold fire assay
analysis.
The Company would like to acknowledge the financial assistance given to the 2012
work program by the Government of Newfoundland and Labrador through its Junior
Exploration Assistance Program at the Department of Mines.
About Maritime Resources Corp.:
Maritime's Green Bay property consists of the Hammerdown gold deposit and the
Orion gold deposit, separated by 1.5 km. The Hammerdown gold deposit was
successfully mined by Richmont Mines between 2000 and 2004, producing ore at an
average grade of 16.1 g/t Au. Maritime is currently updating the potential for
remaining resources at Hammerdown and the newly outlined Rumbullion extension.
The Orion gold deposit contains an inferred resource of 119,000 ounces of gold
in a 710,000 tonne deposit grading 5.2 g/t Au, as stated in the Technical Report
dated July 19, 2010. Commander Resources Ltd. holds a 2% NSR royalty on future
production from the property with the exception of production from the Orion
deposit. For additional information, please visit the Company's website at
www.maritimeresourcescorp.com.
On behalf of the Board of Directors,
Eric Norton, President and CEO
Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Maritime Resources Corp.
Cathy DiVito
Investor Relations
(604) 484-7111
info@maritimeresourcescorp.com
www.maritimeresourcescorp.com
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