Maritime Resorcs Stock Price, News & Analysis

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 highlights include exceptional gold intersections:

- 12.0 gpt Au over 28.0m (including 73.7 gpt Au over 4.0m) from surface
- 46.6 gpt Au over 3.0m (including 69.4 gpt Au within 40m of surface)
- Multiple other high-grade intersections ranging from 2.1 to 35.4 gpt Au

The grade control program has completed 8,460m of diamond drilling across 273 holes, designed on a 10m x 10m staggered pattern. The latest results come from the western and central portions of the proposed Phase 1 pit area, confirming exceptional gold mineralization within a dense swarm of mineralized quartz veins. Results are still pending for 139 drill holes.

Maritime Resources Corp (TSXV: MAE, OTC: MRTMF) has initiated mineral processing operations at its Pine Cove Mill, part of the Point Rousse Gold Project in Newfoundland and Labrador. The facility, acquired in 2023, is currently the only operating gold processing facility in the Province.

Key operational highlights include:

• Processing commenced with over 50,000 tonnes of crushed mineralized stockpile material ready
• Mill capacity: 1,300 tonnes per day (475,000 tonnes/year)
• 37 personnel recruited entirely from local communities
• Identified 85,000-115,000 tonnes of stockpiled material grading ~1.1 g/t gold
• Estimated 3,000-4,000 ounces of contained gold in stockpiles

The facility features a Merrill Crowe system and will include a Falcon gravity concentrator. Recent cleanup yielded over 2,000 kg of high-grade gold concentrate, shipped to Sabin Metals refinery with proceeds expected in 6-8 weeks.

Maritime Resources Corp (TSXV: MAE, OTC: MRTMF) has announced its participation in two major mining industry events in Toronto this March. The company will attend the PDAC conference from March 2-5, 2025, where investors can meet with senior management, technical staff, and investor relations representatives at Booth 2816 in the Investors Exchange at the Metro Toronto Convention Centre.

Additionally, Maritime will participate in Canada's Atlantic Edge event organized by the Atlantic Canada Mining Alliance. President and CEO Garett Macdonald will present on Tuesday, March 4, 2025, at 9:40 am ET at the Intercontinental Hotel. The event includes technical sessions from 9 am to 4:30 pm ET, followed by an East Coast Kitchen Party Reception. Registration for this event is free and available through the provided registration link.

Maritime Resources (MRTMF) announced significant drill results from its grade control program at the Hammerdown Gold Project in Newfoundland and Labrador. Key findings include high-grade gold intersections of 24.1 g/t Au over 3.0 metres, 6.43 g/t Au over 6.5 metres, and 3.5 g/t Au over 10.0 metres.

The program, consisting of 7,675 metres of diamond drilling across 268 holes, has completed 235 holes to date. Notable discoveries include backfill sampling from historic stopes yielding up to 252.2 g/t Au, with a weighted average of 8.0 g/t Au across 26 samples from 10 stopes. The drilling is designed on a 10m x 10m staggered pattern to optimize future ore extraction while minimizing losses and dilution.

Maritime Resources Corp. (MRTMF) has announced significant drill results from its Hammerdown Gold Project in Newfoundland and Labrador. Key findings include 41.6 grams per tonne (gpt) gold over 6.3 metres, including 127.5 gpt gold over 2.0 metres in drill hole HDGC-24-038, and 11.1 gpt gold over 13.1 metres in hole HDGC-24-006.

The grade control drill program, executed by Springdale Forest Resources, has completed 151 holes totaling 4,705 metres out of a planned 7,675 metres across 268 holes. The drilling confirms high-grade gold mineralization near surface and validates the location of historic underground workings. The company's Pine Cove processing plant is being recommissioned and will begin processing existing stockpiled material in the coming weeks.

Maritime Resources Corp (TSXV: MAE, OTC: MRTMF) has announced the sale of its Lac Pelletier gold project to Emperor Metals Inc. (CSE: AUOZ). The transaction involves Maritime selling 25 mineral claims and a mining lease in exchange for 12.5 million shares of Emperor, representing approximately 10.06% ownership stake.

The Lac Pelletier project is strategically located 9 km east of Agnico Eagle Mines' Wasamac gold project near Rouyn Noranda and 33 km south of Emperor's Duquesne West gold project in Québec. The deal, announced on January 7, 2025, is expected to close before March 31, 2025, subject to customary closing conditions. The shares received will be subject to a four-month and one-day hold period.

Maritime Resources Corp. (MRTMF) has initiated crushing operations at its Pine Cove gold processing facility in Newfoundland and Labrador, which has been on care and maintenance since March 2023. The company plans to process 85,000-115,000 tonnes of mineralized stockpiles grading 1.1 grams per tonne gold, expecting to recover 3,000 to 4,000 ounces of gold during re-commissioning.

The Pine Cove mill, rated for 1,300 tonnes per day of process throughput, is undergoing repairs and upgrades targeting a January 2025 restart. The facility has hired 26 staff members and is completing maintenance work on various systems including filter presses, tailings pump box, and leach tanks. Contract crushing has begun with Guy J. Bailey to prepare stockpiled material before winter.

Maritime Resources has announced significant results from surface sampling at the Hammerdown Gold Project in Newfoundland and Labrador. The shallow trenching program revealed high-grade gold mineralization, with five veins across two trenching areas averaging 56 gpt Gold over 0.3m. Notable results include the O-Vein, which averaged 49 gpt Au over 0.4m across a 45m strike length, and the Rumbullion Veins (R1, R2, R2A) returning grades of 59.9, 112, and 55.4 gpt Au respectively. The sampling supports detailed mine planning work for the project, which has completed major permitting and access to the existing Pine Cove mill facility.

Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) has initiated refurbishment work at its Pine Cove mill in Newfoundland and Labrador. The company acquired the Point Rousse Project in 2023, including the Pine Cove gold processing plant and tailings storage facility. Key highlights include:

• Appointment of Dwight Goudie as Pine Cove Mill Manager
• Ongoing excavation and stockpiling of mineralized material
• Commencement of mechanical and electrical inspections
• Sourcing of reagents and recruitment of key personnel
• Discharge of 2 million cubic metres of water from the tailings storage facility

The company aims to process mineralized stockpile inventory, providing cash flow for the development of its Hammerdown Gold Project. Maritime has identified approximately 85,000-115,000 tonnes of stockpiled and tailings material grading about 1.1 grams per tonne gold, potentially containing 3,000 to 4,000 ounces of gold.