Maritime Resources (TSXV: MAE; OTC Pink: MRTMF) has announced positive results from its ongoing metallurgical test program for the Hammerdown gold project. Located near King’s Point and Springdale in the Baie Verte mining district of Newfoundland, Hammerdown is a fully permitted, high-grade gold project with an existing processing facility. The tests will optimize gold recovery data through Maritime’s Pine Cove mill, a 1,300 tonne per day flotation, regrind, leach, and Merrill Crowe gold plant acquired in 2023.
Test work was conducted on a composite sample with an average grade of 4.0 gpt gold, 98.0% gold recovery was achieved through the flotation process, 98.1% gold recovery was achieved through optimized gold leach extractions of the reground concentrate and 96.1% overall gold was recovered prior to the Merrill Crowe process.
A potential improvement to the program would be the use of oxygen in the leaching circuit.
“Pine Cove has been on care and maintenance since Q1 2023 and remains in excellent condition,” said Maritime president and CEO Garett Macdonald. “We are evaluating a restart of the mill to process existing stockpiles and set the stage for Hammerdown’s development. With gold prices over US$2,400 and all major permitting completed, Maritime is one of the few near-term cash flow opportunities in the current market.”
The current program includes comminution studies, flotation tests, leaching optimization, Merrill Crowe testing, thickening and vacuum filtration testing, detoxification test work, and downstream geochemical testing. The results indicate that the mineralization responds extremely well to flotation and agitated leaching of the concentrate for precious metal extraction.
The Hammerdown project’s open pit contains an indicated resource of 2.8 million tonnes at an average grade of 3.61 gold gpt, totalling 330 million Ib. gold and an inferred resource of 302,000 tonnes at an average grade of 1.31 gpt gold, totalling 13 million Ib. gold. Its underground contains an indicated resource of 55,000 tonnes at an average grade of 5.10 gold gpt, totalling 9 million Ib. gold and an inferred resource of 66,000 tonnes at an average grade of 4.00 gpt gold, totalling 9 million Ib. gold.
For more information, visit www.MaritimeResourcesCorp.com.
