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Maritime Resources Expands Exploration Program to 40,000 Metres - Commences Largest Drill Program in Company's History
Completion of Regional Airborne VTEM Geophysical Program Announced Toronto, Ontario--(Newsfil...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Resources Expands Exploration Program to 40,000 Metres - Commences Largest Drill Program in Company's HistoryCompletion of Regional Airborne VTEM Geophysical Program AnnouncedToronto, Ontario--(Newsfile Corp. - June 2, 2021) - Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to announce it has initiated a fully funded, expanded exploration program at the Hammerdown Gold Project (\"Hammerdown\" or the \"Project\") in the Baie Verte Mining District of Newfoundland and Labrador, Canada. Exploration activities are underway with two drills exploring along the highly prospective Hammerdown Deformation Zone and will work outwards to new high priority targets throughout 2021 and into 2022. Program Highlights 40,000 metre (\"m\") of exploration drilling and additional geophysical surveys including:30,000 m planned near the Hammerdown and Orion gold deposits targeting resource expansion in and around the proposed open pit and underground workings outlined in the Preliminary Economic Assessment (\"PEA\") released on February 29, 2020 10,000 m allocated to drill test several new regional targets including Whisker Valley and Gull Ridge where high grade gold, silver and copper mineralization was encountered during 2020 VTEM survey completed across 358 km2 land package identifying several highly conductive anomalies\"Maritime has made significant progress in the past 15 months advancing Hammerdown though a positive PEA, completing the acquisition of the Nugget Pond gold plant and the recent release of the Project from the Environmental Assessment. We are extremely excited about the expanded and fully funded 40,000 m drill program that we believe will unlock significant value for the Company,\" adds Garett Macdonald, President and CEO. \"The priority will be targeting resource growth along the Hammerdown Deformation Zone. Historically this area has been underexplored, especially during the early 2000's when gold prices averaged US$300/oz and Hammerdown was operating with a cut-off grade of over 8.0 gpt Au. Our exploration teams are combining new data from several sources including machine learning (AI), the latest in geophysical surveys, pXRF mapping and soil sampling. Along with the review of historic drilling, the use of these new technologies have already led to several high priority conductivity and...