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Maritime Resources Announces Mineral Resource Estimate for the Lac Pelletier Gold Project
Toronto, Ontario--(Newsfile Corp. - May 11, 2022) - Maritime Resources Corp. (TSXV: MAE) ("Ma...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Resources Announces Mineral Resource Estimate for the Lac Pelletier Gold ProjectToronto, Ontario--(Newsfile Corp. - May 11, 2022) - Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to report the completion of a mineral resources estimate¹ (the \"2022 MRE\"), on its 100%-owned, Lac Pelletier Gold Project (\"Lac Pelletier\") located in Rouyn Noranda, Quebec, Canada. The 2022 MRE was completed in accordance with National Instrument 43-101 (\"NI 43-101\") standards of disclosure. Maritime acquired Lac Pelletier in 2021 from Rambler Metals and Mining PLC, along with the Nugget Pond gold circuit in Newfoundland and Labrador and a number of additional gold assets and royalty interests. HighlightsThe 2022 MRE demonstrates an extensive gold resource suited for potential underground mining (see Table 1):41,300 tonnes grading 3.99 grams per tonne (\"gpt\") gold (\"Au\") for 5,300 ounces (Measured)639,900 tonnes grading 4.09 gpt Au for 84,100 ounces (Indicated)681,200 tonnes grading 4.08 gpt Au for 89,400 ounces (total Measured and Indicated)1,099,000 tonnes grading 3.89 gpt Au for 137,600 ounces (Inferred)Project has valid certificate of authorization for 1,000 tonnes per day productionConsiderable exploration upside along strike and at depth¹There is no certainty that Indicated mineral resource estimates will be converted to the Measured resource and Proven and Probable mineral reserve categories and there is no certainty that the 2022 MRE will be realized. There is no guarantee that Inferred mineral resource estimates can be converted to Indicated or Measured mineral resource categories, or that Indicated or Measured mineral resource estimates will be converted to mineral reserves. Mineral resource estimates that are not mineral reserves do not have demonstrated economic viability. The 2022 MRE may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant risks, uncertainties and other factors, as more particularly described in the Cautionary Statements at the end of this news release. See \"Caution Regarding Forward-Looking Statements\".\"Lac Pelletier is a unique asset located in the heart of the Abitibi mining district, with several operating mines and development projects within driving distance. The project benefits f...