Welcome to our dedicated page for Maritime Resorcs news (Ticker: MRTMF), a resource for investors and traders seeking the latest updates and insights on Maritime Resorcs stock.
Maritime Resources Corp. was a gold exploration and development company focused on the Hammerdown Gold Project in Newfoundland and Labrador's Baie Verte mining district. Company news centered on Hammerdown drilling, grade-control results, construction activity, mineral processing at the Pine Cove mill, the Nugget Pond gold circuit, and exploration land including Green Bay, Whisker Valley, Gull Ridge and Point Rousse.
Recurring updates also covered capital and governance actions such as incentive stock options, share consolidation, project funding, community agreements, and technical-team additions. In 2025, Maritime was acquired by New Found Gold Corp. through a completed statutory plan of arrangement, making the transaction a durable part of its public-company history.
Eric Sprott (through 2176423 Ontario Ltd.) acquired 7,691,250 common shares and 2,000,025 warrants of New Found Gold Corp (NFGC) following the closing of a statutory plan of arrangement between New Found Gold and Maritime Resources on November 13, 2025.
Prior to the arrangement Mr. Sprott held 56,224,015 NFGC shares; after the transaction he beneficially owns 63,915,265 NFGC shares and 2,000,025 NFGC warrants, representing ~18.9% of outstanding shares (non-diluted) and ~19.4% on a partially diluted basis.
Mr. Sprott no longer holds securities of Maritime Resources and ceased to be an insider of Maritime Resources.
Maritime Resources (TSXV: MAE) has commenced construction activities at its Hammerdown Gold Project in Newfoundland and Labrador's Baie Verte mining district. The company has begun civil construction and earthworks, including site preparation, overburden removal, and water management systems implementation.
Key developments include the discovery and transportation of historic Richmont Mines ore pad material to the Pine Cove mill for processing, and the appointment of several experienced technical team members including Collin Ellison as Project Director and Billy Grace as Chief Mine Engineer. The company also received $154,000 in government funding to study GlyCat™, an innovative glycine-based reagent technology that could reduce sodium cyanide usage in gold production.
Maritime Resources (MRTMF) has announced the grant of 17,062,800 incentive stock options to its directors, officers, and employees. The options are exercisable at $0.11 per common share with a five-year term from the grant date. These options will vest immediately upon grant and are subject to TSX Venture Exchange regulations and applicable securities laws.
Maritime Resources Corp. (MRTMF) has announced a planned share consolidation (reverse stock split) on a 10-to-1 basis, effective June 16, 2025. The consolidation will reduce the company's outstanding common shares from 1,119,460,072 to approximately 111,946,007.
The consolidation, which was approved by shareholders on August 8, 2024, still requires TSX Venture Exchange approval. The company's existing stock options and warrants will be proportionally adjusted. Management believes this move will enhance marketability and facilitate organic growth while maintaining shareholders' proportionate ownership and voting power, except for minor adjustments due to fractional shares.
Maritime Resources Corp. (MRTMF) has provided a significant update on its Hammerdown Gold Project in Newfoundland and Labrador. The company recently closed a $20 million equity financing and achieved first gold recovery from stockpile processing at the Pine Cove mill. The project has received all major permits and is targeting development and cash flow in H2 2025. The Pine Cove mill has processed over 45,000 tonnes of low-grade stockpile feed, recovering 350 ounces of gold. The Hammerdown Gold Project features Proven and Probable reserves of 1.9 million tonnes grading 4.46 g/t Au for 272,000 ounces. Recent grade control drilling confirmed high grades, including intercepts of up to 41.6 g/t Au over 6.3 metres. The company plans to upgrade the mill with new equipment and targets production ramp-up in the second half of 2025.
Maritime Resources Corp (TSXV: MAE) (OTC: MRTMF) has announced final drill results from their grade control program at the Hammerdown Gold Project in Newfoundland and Labrador. The program revealed significant high-grade gold intersections, notably 49.4 gpt gold over 2.6 metres, including 153.9 gpt gold over 0.6m in drill hole HDGC-25-235.
The drilling focused on the Rumbullion zone, located 300m east of the core Hammerdown deposit, characterized by steeply dipping, shear-hosted quartz veins. The program completed 8,460m of diamond drilling across 273 holes on a 10m x 10m staggered pattern. Notable findings include 94.5 gpt Au over 0.2m and 25.8 gpt Au over 0.8m.
A significant discovery includes drill hole HDGC-25-241, which intersected 5.1 gpt Au over 11.7m in backfill material, suggesting potential for additional recoveries from historically mined areas.
Maritime Resources (MRTMF) has announced significant drill results from its grade control program at the Hammerdown Gold Project in Newfoundland and Labrador. Key highlights include:
- 5.5 gpt gold over 29.8m, including 73.0 gpt gold over 1.5m in drill hole HDGC-25-177
- 16.9 gpt gold over 2.5m in HDGC-25-181
- 7.7 gpt gold over 5.6m in HDGC-25-160
- 67.1 gpt gold over 0.9m in HDGC-25-188
The grade control program completed 8,460 metres of diamond drilling across 273 holes, designed on a 10m x 10m staggered pattern. Historical underground mining backfill samples averaged 3.3 gpt gold across 274 linear meters of drilling. The program has confirmed the vein model and location of historic underground workings while identifying additional mineralization between high-grade veins, mine backfill material and remnant pillars.
Maritime Resources Corp (TSXV: MAE, OTC: MRTMF) has announced significant drill results from its grade control program at the Hammerdown Gold Project in Newfoundland and Labrador. Key findings include:
Notable intersections revealed 19.9 gpt gold over 17.0 metres, including 32.2 gpt Au over 10.0m in drill hole HDGC-25-124. Additional impressive results include 2.5 gpt Au over 14.0m and multiple high-grade intersections ranging from 27.8 to 31.6 gpt Au.
The grade control program, now completed with 8,460 metres of diamond drilling across 273 holes, was designed on a 10m x 10m staggered pattern. The program successfully validated the vein model and historic underground workings while identifying additional mineralization between high-grade veins, mine backfill material, and remnant pillars. Results are still pending for 114 drill holes.