Brightstar Resources Limited (ASX: BTR) (Brightstar, or the Company) is pleased to provide an update regarding its ongoing assessment of the Brightstar Processing Facility (Brightstar Plant) located south- east of Laverton.
Following release of the Company’s recent Scoping Study (Menzies and Laverton Gold Project Mine Restart Study, ASX Announcement 06/09/2023), Brightstar is progressing with work streams under its Pre- Feasibility Study regarding the refurbishment and expansion of the Brightstar Plant to support further potential increased throughput and consequential increased annual production profile from its Laverton operations.
As part of these works, Brightstar commissioned an independent valuation of the mill and associated site infrastructure. The purpose of this report is to inform the appropriate level of insurance cover to protect these strategic assets while the Company continues its regional development and assessment of potential options to commence accelerated production operations.
This report has valued the Brightstar Plant and associated infrastructure at $60.9 million on an “as new” replacement value basis.
Brightstar Plant looking from the North-West
Brightstar’s Managing Director, Alex Rovira, commented:
“The Brightstar Processing Plant and related infrastructure represents a significant advantage from a time and cost perspective for Brightstar as we advance towards re-start of mining operations at the Menzies and Laverton Gold Projects. As outlined in the recently released Scoping Study, the ability to execute a low-cost refurbishment and expansion of the processing infrastructure is a key strategic advantage for the Company that differentiates Brightstar from other aspiring WA gold explorers and developers. We are actively assessing opportunities to further increase the throughput of the mill to 1Mtpa to support an increased production profile at our Laverton Gold Project.”
The $60 million value on an ‘as new’ basis for the existing processing and associated infrastructure represents a significant cost that we do not have to incur to build our mining operations, which in the context of continued challenging debt and equity capital markets is an important asset for our business. Many of the components of the plant are brand new and have never operated since being installed, including the gravity circuit and 450kW ball mill below."
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This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
A gold-focused emerging gold producer with a clear pathway to production growth, Brightstar Resources presents a compelling investment case driven by its mining and development hubs strategy and a district-scale resource opportunity.
The price of gold stays strong. In April 2024, the yellow metal’s price passed US$2,400 per ounce for the first time. The reason is multifaceted. The world teeters on the brink of a severe recession while some markets attribute the increase to safe haven rush. Amidst ballooning interest rates, bank failures and falling bond yields, demand for gold continues to rise. At this precise moment, gold is simultaneously an excellent portfolio diversifier and a compelling hedge against ongoing inflation — particularly if one invests in the right company.
Brightstar Resources (ASX:BTR) aims to be that company. An emerging mining and development company, Brightstar occupies a strategic land position of roughly 1,200 square kilometers in the Sandstone Greenstone Belt, 300 square kilometers in the Laverton Tectonic Belt and 80 square kilometers of the Menzies Shear Zone.
The company also owns an existing processing facility that can potentially provide tremendous shareholder value in a low-capital cost restart scenario.
That plant, once fully refurbished and operational, could prove a key differentiator for the company, enabling fast gold production at a low capital cost. This is especially noteworthy given that many other gold companies trading on the ASX are largely focused on greenfield exploration and development. Even once those companies discover a promising resource, mining and processing facilities would still need to be built, undertakings which can incur significant upfront capital costs and take several years.
Brightstar's Laverton gold assets are all centered on a 100 percent-owned 300-square-kilometer tenure in the Laverton Tectonic Zone and all within 70 kilometers of the Laverton Processing Plant. Additionally, all resources within this zone are open along strike and at depth. Only minor drilling programs have been conducted in recent years, paving the way for significant exploration upside with the potential for further regional and greenfields discoveries.
Brightstar also owns 100 percent of the Menzies Gold Project, a contiguous land package of granted mining leases over a strike length of roughly 20 kilometers along the Menzies Shear Zone and adjacent to the Goldfields Highway.
In 2023 and 2024, the company announced a mineral resource upgrade to the Cork Tree Well deposit (Laverton gold project) and also delivered two maiden mineral resource estimates at the Link Zone and Aspacia deposits (Menzies gold project). This has grown the total group MRE by approximately 150 koz gold through organic exploration. Brightstar also recently announced the results from DFS-level metallurgical testwork programs at Cork Tree Well with returned recoveries over 90 percent, including a high gravity gold content, ranging from 25 percent - 60 percent.
The company has also acquired 100 percent of the shares and options of Linden Gold Alliance, a gold producer, developer and explorer with existing mineral resources of 350 koz @ 2.1 g/t gold near Brightstar in the Laverton district. Brightstar’s MRE has reached 1.1 Moz gold across the Menzies and Laverton projects, with an additional 0.35 Moz gold in resources added after the successful acquisition of Linden Gold Alliance.
In August 2024, Brightstar entered into a scheme implementation deed to acquire 100 percent of Alto Metals (ASX:AME), which owns the Sandstone gold project located in East Murchison. The project has a current mineral resource of 1.05 Moz of gold at 1.5 g/t.
Brightstar also completed the acquisition of the gold rights at the Montague East gold project (MEGP) from Gateway Mining Limited (ASX:GML). The project is located 70 km from the Sandstone gold project. The acquisition adds a further 9.6 Mt @ 1.6 g/t gold for 0.5 Moz gold to Brightstar’s JORC Mineral Resource Estimate, giving the company a total mineral endowment of 38.3 Mt @ 1.6 g/t gold for 2.0 Moz gold.
The acquisition of the MGEP from Gateway Mining and 100 percent of Alto’s shares creates a third district-scale resource base for the company called the Sandstone Hub. Upon consolidation of the Laverton, Menzies and Sandstone hubs, Brightstar’s mineral resources would reach 3 Moz at 1.5g/t gold.
Subsequent to the deal with Alto Metals, Brightstar entered into a $4 million drill-for-equity agreement with Topdrill to aggressively advance the consolidated Sandstone gold project. The deal strengthens Brightstar's financial capacity to fulfill its multi-hub exploration and development strategy, which includes the Menzies, Laverton and Sandstone hubs.
Brightstar’s Laverton hub is comprised of the Cork Tree Well, Beta and Alpha project areas with the addition of the Second Fortune gold mine and the Jasper Hills projects.
The Menzies Hub comprises a tenement holding of a contiguous land package of granted mining leases over a strike length of more than 20 km. The majority of deposits hosted along the Menzies Shear Zone are located adjacent to Goldfields Highway in Menzies (130km north of Kalgoorlie).
The consolidated Sandstone project is over 100 km from existing third-party milling operations in the Murchison. This third processing hub boasts Alto’s Sandstone project with a mineral resource of 1.05 Moz at 1.4 g/t gold and Gateway’s Montague gold project with a mineral resource of 0.5 Moz @ 1.6 g/t gold.
Brightstar aims to fast-track the development timetable through:
Situated close to Brightstar's existing mineral assets at Laverton, the Brightstar Processing Plant provides the company with a considerable operational head start over its peers.
Gold doré bars (BTR005 – BTR016) poured on 9 March 2024
Alex Rovira is a qualified geologist and an experienced investment banker having focused on the metals and mining sector since 2013. Rovira has experience in ASX equity capital markets activities, including capital raisings, IPOs and merger and acquisitions.
Richard Crookes has over 35 years’ experience in the resources and investments industries. He is a geologist by training having previously worked as the chief geologist and mining manager of Ernest Henry Mining in Australia.
Crookes is managing partner of Lionhead Resources, a critical minerals investment fund and formerly an investment director at EMR Capital. Prior to that he was an executive director in Macquarie Bank’s Metals Energy Capital (MEC) division where he managed all aspects of the bank’s principal investments in mining and metals companies.
Andrew Rich is a degree qualified mining engineer from the WA School of Mines and has obtained a WA First Class Mine Managers Certificate. Rich has a strong background in underground gold mining with experience predominantly in the development of underground mines at Ramelius Resources (ASX:RMS) and Westgold Resources (ASX:WGX).
Ashley Fraser is an accomplished mining professional with over 30 years experience across gold and bulk commodities. Fraser was a founder of Orionstone (which merged with Emeco in a $660-million consolidation) and is a founder/owner of Blue Cap Mining and Blue Cap Equities.
Jonathan Downes has over 30 years’ experience in the minerals industry and has worked in various geological and corporate capacities. Experienced with gold and base metals, he has been intimately involved with the exploration process through to production. Downes is currently the managing director of Kaiser Reef, a high grade gold producer, and non-executive director of Cazaly Resources.
Dean Vallve holds technical qualifications in geology & mining engineering from the WA School of Mines, an MBA, and a WA First Class Mine Managers Certificate. Vallve was previously in senior mining and study roles at ASX listed mid-cap resources companies Hot Chili (ASX:HCH) and Calidus Resources (ASX:CAI).
Emerging gold producer and district-scale resource developer in Western Australia
Harvest Gold offers investors a compelling opportunity to participate in early-stage exploration within Quebec’s prolific Abitibi Greenstone Belt – home to some of Canada’s richest gold deposits – through three strategically located and 100 percent owned properties, with a flagship asset positioned for significant discovery upside.
Harvest Gold (TSXV:HVG) is a Canadian junior exploration company advancing a portfolio of 100 percent owned, highly prospective gold projects in Quebec’s world-renowned Abitibi Greenstone Belt. With more than 200 million ounces of historical gold production, the Abitibi is one of the richest gold-producing regions globally. Harvest Gold’s properties – Mousseau, Urban Barry and LaBelle – are strategically situated in and around the Urban Barry Greenstone Belt, a rapidly emerging gold camp that has become the focal point of aggressive exploration and investment by major players like Gold Fields and Osisko Mining.
The Urban Barry Belt is particularly significant: it hosts the high-grade, multi-million-ounce Windfall gold deposit, which was developed by Osisko Mining and recently purchased by Gold Fields, as well as Bonterra’s Gladiator and Barry deposits. In a belt where land is increasingly consolidated by majors, Harvest Gold controls three of the few remaining independent, district-scale land packages, representing a rare opportunity for investors to gain early exposure in an area with proven geological endowment and high-value acquisition potential. With road access, nearby infrastructure and recent forest fires having cleared ground for new exploration, the conditions are optimal for discovery.
The company's strategy is further strengthened by its highly experienced leadership and technical team. CEO Rick Mark brings more than 40 years of business and management experience and has overseen multiple resource companies through peak valuations for 25 years. The technical team includes industry veterans such as Louis Martin, a two-time AEMQ “Discovery of the Year” award winner, and Warren Bates, former VP exploration for Pelangio, who was instrumental in the Blackwater discovery. This team brings deep expertise in structural geology, Quebec-focused exploration, and mine development.
Harvest Gold is backed by Crescat Capital, a prominent institutional investor with a strong track record of supporting early-stage discoveries. Crescat’s investment was driven by the endorsement of their strategic advisor, Dr. Quinton Hennigh, a globally recognized exploration geologist. His confidence in the company’s land positioning and geological model is a powerful validation of Harvest’s potential.
The Mousseau gold project is Harvest Gold’s flagship asset, encompassing 193 claims across 9,735.6 hectares in the northern Abitibi Greenstone Belt of Quebec. Located just 15 kilometers east of Lebel-sur-Quévillon, the property benefits from year-round road accessibility, offering critical logistical and cost advantages for exploration. It lies immediately adjacent to claims held by Gold Fields and Cartier Resources to the north and near significant land packages staked by renowned prospector Shawn Ryan to the south, placing Mousseau in the heart of one of the most geologically fertile and active regions in Canada.
At the geological level, Mousseau straddles two major structural corridors: the Morono Shear Zone and the Kiask River Deformation Zone. Both zones exhibit classic characteristics of shear-hosted gold systems, including multiple stacked quartz-sericite shear zones with widths ranging from under one meter to over 30 meters. The property already boasts 49 significant surface gold showings and a historical, non-NI 43-101 compliant gold resource at the Morono zone. New geological mapping, combined with geophysics and geochemical sampling, confirms a large, mineralized system with excellent continuity along strike and at depth.
In 2024, Harvest Gold completed a comprehensive high-resolution airborne magnetic survey over the entire property, revealing a network of previously unrecognized structural features and magnetic domains. These insights were critical in refining drill targets, particularly in underexplored zones that were newly exposed following the 2023 wildfires. Initial compilation and fieldwork has already validated several new high-priority gold targets in both the northern (Morono) and central (Kiask River) zones of the property.
Highlights from historical and recent data include:
The company’s 2025 exploration plan includes 5,000 meters of diamond drilling focused on these defined high-priority targets, with a fully scoped budget of $1 million, aiming to unlock the project's full potential as a large-scale, high-grade discovery.
Given its scale, geological architecture, infrastructure access and strategic neighbors, Mousseau is well-placed to evolve into a tier-one asset capable of attracting major partners or acquirers.
Acquired from EGR Exploration, the Urban Barry property comprises 6,879 hectares located west of the Osisko/Gold Fields Windfall property. The project spans 20 km of favorable strike length and sits along the southern margin of the Urban Barry Greenstone Belt.
Key advantages:
Staked in 2024, LaBelle covers 3,394 hectares and represents a 9 km southeast extension of the Kiask River Fault. It mirrors the geological setting of Mousseau, with similar NW-SE oriented shear zones and structural contacts between the Wilson Pluton and volcanic sequences.
Though early-stage, LaBelle offers:
With 25 years of leadership in Canadian public resource companies, Rick Mark previously helmed VMS Ventures, North American Nickel and Pancontinental Uranium, each achieving peak valuations of C$200 million.
A Quebec-focused geological consultant with more than 40 years of experience, Louis Martin is the former VP of exploration at Clifton Star Mining, where he led the team developing the Duparquet deposit. He is a multiple-time recipient of the AEMQ “Discovery of the Year” award.
Recently VP capital markets at Tutor Gold, Pat Donnelly is a former co-founder and president of First Mining Gold, where he executed eight M&A deals growing the company’s market cap from $30 million to $600 million.
Len Brownlie brings more than 30 years of executive leadership in mining exploration. He is the former president of Goldrush Resources and director of First Silver Reserve.
Christopher Cherry has more than 15 years of experience in corporate accounting and audit for public companies. He oversees Harvest Gold’s financial strategy and compliance.
Ed Zablotny boasts over 35 years in venture capital markets with expertise in trading, credit and regulatory compliance.
Warren Bates is a veteran geologist with 30+ years in gold and base metals exploration. He is the former VP of exploration at Pelangio Exploration and part of the Blackwater deposit discovery team.
Henry Awmack is the co-founder of Equity Exploration Consultants, with over 40 years of exploration experience. He was notably involved in early work on the Cobre Panama copper-gold deposit.
Neil Richardson is a geological consultant and the VP Explorations for Hudbay Minerals. He led the team behind the discovery and development of the Reed Mine while at VMS Ventures.
Finlay Minerals (TSXV:FYL,OTCQB:FYMNF) is a Vancouver-based explorer targeting copper, gold, and silver in British Columbia’s prolific Stikine Terrane. With a focus on porphyry and epithermal systems, the company leverages strong geological expertise, strategic partnerships, and disciplined capital use to drive discovery and development.
Finlay Minerals offers a compelling, de-risked exploration opportunity anchored by 2025 earn-in agreements with Freeport-McMoRan, one of the world’s largest copper producers. Freeport is actively funding the advancement of the PIL and ATTY projects in BC’s Toodoggone District, providing a non-dilutive path to unlock value from Finlay’s flagship assets.
With rising copper and gold prices and operations in one of the world’s safest and most resource-rich jurisdictions, Finlay offers investors exposure to significant upside through smart partnerships and disciplined exploration.
This Finlay Minerals profile is part of a paid investor education campaign.*
Click here to connect with Finlay Minerals (TSXV:FYL) to receive an Investor Presentation
Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to provide an update for the Hammerdown Gold Project, located in the Baie Verte mining district of Newfoundland and Labrador ("Hammerdown"), near the towns of King's Point and Springdale.
Highlights:
Additional grade control drilling south of the historic mine workings confirms the presence of a new orientation in mineralized trends with substantial gold grades and widths starting at surface
24.5 grams per tonne ("gpt") gold ("Au") over 13.9 metres ("m"), including 42.2 gpt Au over 8.0 m in drill hole HDGC-25-272
34.4 gpt Au over 2.5 m, 5.2 gpt Au over 2.9 m and 1.3 gpt Au over 7.0 m in drill hole HDGC-25-274
7.2 gpt Au over 13.5 m, including 12.7 gpt Au over 3.8 m in drill hole HDGC-25-276
1.7 gpt Au over 36.0 m, including 1.9 gpt Au over 15.4 m in drill hole HDGC-25-273
1.7 gpt Au over 23.0 m, including 25.1 gpt Au over 1.0 m in drill hole HDGC-25-271
53.9 gpt Au over 3.5 m in channel sample HDFN-CH-25-03 and 31.2 gpt Au over 3.2 m in channel sample HDFN-CH-25-02
"Following the successful grade control program completed earlier this year, additional drilling has targeted a new orientation in gold trends south of the historic underground mine workings. This north-south zone begins at surface and lies within the planned open pit footprint with results demonstrating high grade gold mineralization across significant widths and remains open at depth. This presents an attractive opportunity for early development and cash flow by now having all permitting completed for the Hammerdown Gold Project and our Pine Cove mill now fully operational. It also highlights the potential for additional mineral resources in the immediate area of the deposit," comments Garett Macdonald, President and Chief Executive Officer.
Discussion of Results
As part of the 2025 definition drilling program that refined the Hammerdown geological model, a high-grade ore shoot was identified with a structural orientation distinct from the rest of the deposit. This ore shoot was intersected in grade control drill holes HDGC-25-122 and HDGC-25-038 which intersected 12.0 gpt Au over 28.0 m and 43.6 gpt Au over 6.3 m respectively (Maritime Press Release Dated January 27, 2025). Historical mining immediately north of the area had indicated that the east-west trending Hammerdown vein system may be translated into a north-south direction due to shearing along the Wisteria/Rumbullion shear zone.
Channel sampling and six short diamond drill holes (totalling 292 m) were completed to test the orientation of the mineralized veins in the footwall within the proposed first year of open pit mining. Results from channel sampling included 31.2 gpt Au over 3.2 m in HDFN-CH-25-02 and 53.9 gpt Au over 3.5 m in HDFN-CH-25-03. Following up on these channel samples several drill holes were completed to test the depth extents of the mineralization including HDGC-25-272 that returned 24.5 gpt Au over 13.9 m, including 42.2 gpt Au over 8.0 m. A 10 m step-back drill hole, HDGC-25-273, returned 1.7 gpt Au over 36.0 m, including 1.94 gpt Au over 15.4 m and drill hole HDGC-25-271 that was drilled 10 m south of HDGC-25-272 returned 1.7 gpt Au over 23.0 m, including 25.1 gpt Au over 1.0 m. Additionally, drill hole HDGC-25-276 was drilled 10 m north of HDGC-25-272 intersecting the zone with 7.2 gpt Au over 13.5 m, including 12.7 gpt Au over 3.8 m.
Maritime completed trenching which revealed a change in the orientation of high-grade gold zones, providing new insights into local structural controls and the deformation of the mineralized system in the Wisteria area of the deposit. The mineralized veins mapped in trenching is represented by base metal rich quartz/sulphide veins and mineralized felsic intrusions along with low grade disseminated mineralization in the host rock that strikes north south rather than the general east-west trend defined in the remainder of the deposit.
The broader mineralized intersections reflect the disseminated nature of the mineralization in the sericite altered felsic/mafic host and felsic intrusions which also had not been adequately tested by the north south drilling in the area. Maritime noted the consistent high-grade nature of the vein intersection while drilling from both directions, although structurally disrupted and having been drilled from two directions the vein intersection consistently carried exceptionally high gold grades while the encompassing shear zone and quartz feldspar porphyries often carried broad intervals disseminated gold mineralization.
Figure 1. Outcrop in newly trenched area with high-grade vein orientated north-south
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Figure 2. Hammerdown Site Plan Map
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Figure 3. Cross Section 548907 N
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Table 1. Assay results for new drilling and channel sampling
| Hole | From | To | Length | Au gpt | Comments |
| HDFN-CH-25-01 | 1.50 | 2.00 | 0.50 | 3.33 | Channel Sample |
| HDFN-CH-25-02 | 6.50 | 10.00 | 3.50 | 31.18 | Channel Sample |
| HDFN-CH-25-03 | 2.30 | 5.50 | 3.20 | 7.76 | Channel Sample |
| And | 9.00 | 12.50 | 3.50 | 53.94 | Channel Sample |
| HDFN-CH-25-04 | 4.50 | 7.00 | 2.50 | 5.15 | Channel Sample |
| And | 11.50 | 12.50 | 1.00 | 8.09 | Channel Sample |
| HDFN-CH-25-05 | 0.00 | 0.50 | 0.50 | 95.76 | Channel Sample |
| HDFN-CH-25-06 | 0.00 | 0.20 | 0.20 | 168.59 | Channel Sample |
| HDGC-25-271 | 7.00 | 31.00 | 24.00 | 1.65 | |
| Including | 7.50 | 8.48 | 0.98 | 25.09 | |
| HDGC-25-272 | 11.07 | 25.00 | 13.93 | 24.54 | |
| Including | 17.00 | 25.00 | 8.00 | 42.23 | |
| HDGC-25-273 | 25.66 | 61.62 | 35.96 | 1.67 | |
| Including | 39.14 | 54.58 | 15.44 | 1.94 | |
| HDGC-25-274 | 14.35 | 17.21 | 2.86 | 5.18 | |
| And | 24.29 | 26.83 | 2.54 | 34.40 | |
| Including | 26.54 | 26.83 | 0.29 | 256.20 | |
| And | 44.95 | 52.00 | 7.05 | 1.31 | |
| HDGC-25-275 | 30.50 | 33.00 | 2.50 | 1.23 | |
| And | 37.00 | 40.00 | 3.00 | 1.09 | |
| HDGC-25-276 | 22.50 | 36.00 | 13.50 | 7.18 | |
| Including | 29.70 | 33.45 | 3.75 | 12.71 | |
| Lengths reported relative to core access are estimated to be approximately 70% true thickness | |||||
Table 2. Drill hole details for new trench and drilling
| Hole ID | Type | Easting | Northing | Elevation | Total Length | Azimuth | Dip |
| HDFN-CH-25-01 | Channel Sample | 554846.5 | 5489069.5 | 189.7 | 2.0 | 273.0 | 7 |
| HDFN-CH-25-02 | Channel Sample | 554845.8 | 5489068.5 | 190.0 | 11.0 | 271.0 | 2 |
| HDFN-CH-25-03 | Channel Sample | 554845.1 | 5489077.0 | 188.7 | 17.0 | 261.0 | 4 |
| HDFN-CH-25-04 | Channel Sample | 554845.1 | 5489082.7 | 188.6 | 12.5 | 250.0 | 5 |
| HDFN-CH-25-05 | Channel Sample | 554832.8 | 5489078.1 | 189.7 | 1.0 | 197.0 | 6 |
| HDFN-CH-25-06 | Channel Sample | 554832.2 | 5489078.2 | 189.7 | 1.0 | 170.0 | 2 |
| HDGC-25-271 | Drill hole | 554851.7 | 5489060.7 | 191.3 | 31.0 | 270.0 | -45 |
| HDGC-25-272 | Drill hole | 554856.8 | 5489070.0 | 191.5 | 46.0 | 270.0 | -45 |
| HDGC-25-273 | Drill hole | 554867.5 | 5489070.3 | 191.3 | 64.0 | 270.0 | -45 |
| HDGC-25-274 | Drill hole | 554862.5 | 5489060.2 | 191.7 | 61.0 | 270.0 | -45 |
| HDGC-25-275 | Drill hole | 554856.3 | 5489047.1 | 194.8 | 40.0 | 270.0 | -45 |
| HDGC-25-276 | Drill hole | 554863.0 | 5489076.8 | 191.4 | 49.0 | 271.0 | -45 |
Qualified Person
Exploration activities at the Hammerdown Gold Project are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this press release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.
Analytical Procedures
All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Drill core samples are collected from NQ sized diamond drill core and sawn in half. The half core samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.
About Maritime Resources Corp.
Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km2 of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit.
On Behalf of the Board:
Maritime Resources CORP.
Garett Macdonald, MBA, P.Eng.
President and Chief Executive Officer
info@maritimegold.com
www.maritimeresourcescorp.com
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Caution Regarding Forward-Looking Statements:
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include, but are not limited to, statements concerning the Hammerdown mineralization, its' metallurgical response, precious metal extraction based on the ongoing metallurgical testwork, sampling programs, the grade control drilling program, location and grade of underground workings and backfill material, construction elements planned for Hammerdown, production ramp up at Hammerdown, preparation of an updated technical report for Hammerdown, investments to be made to and plans for the Pine Cove mill, growth of the Company and the creation of long-term value for shareholders, exploration plans at the Company's properties, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision and executing exploration programs on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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