Business
Maritime Continues to add to the Whisker Valley land package
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2017) - Maritime Resources Corp. ...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Continues to add to the Whisker Valley land packageVancouver, British Columbia--(Newsfile Corp. - December 13, 2017) - Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or \"the Company\") is pleased to announce that it has concluded an option agreement to earn a 100% interest in the Strugglers Pond property located in the Whisker Valley land package. The property covers a number of high grade gold occurrences located adjacent to the Whisker Hill claims that Maritime has completed an extensive trenching program on this fall. (see News Release MAE 17-14, November 29,2017 and MAE 17-16 December 7, 2017) Strugglers Pond PropertyGold and silver mineralization in quartz sulphide veins were first discovered on the Strugglers Pond Property in 1998 by Etruscan Resources. Trenching by Etruscan exposed the mineralized zones with channel samples returning 14 g/t over 4.0 meters. Recent grab samples from the mineralized zones by the current vendor reported gold grades up to 1.13 g/t with 16.9 g/t silver and elevated basemetals. The geochemical signature, style of mineralization and alteration is very similar to the Company's own Whisker Hill vein system reported by Maritime approximately 2 kilometers to the southwest.Figure 1To view an enhanced version of Figure 1, please visit:http://orders.newsfilecorp.com/files/4548/31252_figure1.jpgDoug Fulcher, President and CEO of Maritime commented: \"We are pleased to have entered into another property agreement to acquire a 100% interest in an early stage high grade gold project adjacent to Whisker Valley and Hammerdown area. The Strugglers Pond project sits in the middle of our Whisker Valley project area and within 10 km by road from the Hammerdown project. The property has also demonstrated some of the same high grade gold that we have recently encountered at Whisker Hill. Our intention will be to continue exploration on all the Whisker Valley Properties while we continue to pursue the development and restart of the Hammerdown gold mine. Terms of the AgreementUnder the terms of the agreement Maritime will 100% interest in the Struggler Pond property over a 3-year period by spending $200,000 in exploration ($25,000 in year one), make cash payments totaling $30,000 and issue 100,000 shares to Maritime in accordance with the following schedule:Upon signing - $2,000 and 10,000 shares and $...