The Conversation (0)
Maritime Resources (TSXV:MAE) has entered a Letter of Intent with Rambler Metals and Mining (TSXV:RAB) that includes the evaluation of the economic potential of re-opening the past producing Hammerdown gold mine. Throughout the process, the Green Bay Property, where Hammerdown is located, will remain 100 percent owned by Maritime.
As quoted in the press release:
Under the terms of the Agreement, the companies will negotiate and enter into a mutually agreeable Engineering and Evaluation Service Agreement to evaluate and determine the mineable ounces available on the property. Following a positive economic analysis, should both companies agree to proceed with the development of the project, they will negotiate and enter into mutually agreeable management services and toll milling agreements that will see Rambler manage the process of re-opening the old Hammerdown mine.
Throughout the process the Green Bay Property will remain 100% owned by Maritime along with all rights to continue exploring the land package. There remains good exploration potential on the property which Maritime will continue to advance while Rambler focuses its efforts on the Hammerdown mine itself.
Click here to read the Maritime Resources (TSXV:MAE) press release
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