Mawson Finland (TSXV:MFL) is a mining development company focused on gold-cobalt in northern Finland advancing its the Rajapalot gold-cobalt project in the Lapland region. Driven by a highly experienced local management and technical team, and supported by a strong Finnish investor ownership, the company is poised to become a key player in the gold-cobalt market.
Mawson Finland's Rajapalot project spans 18,000 hectares and boasts an inferred resource of 9.8 Mt consisting of 867,000 oz gold at 2.8 g/t and 4,311 tonnes of cobalt at 441 parts per million (ppm). A completed preliminary economic assessment (PEA) estimated a net present value (NPV) of US$211 million and a 27 percent internal rate of return (IRR) based on US$1,700 gold price, with significant upside from greenfield exploration.
The Rajapalot gold-cobalt project is the company's cornerstone asset. Covering approximately 18,000 hectares, Rajapalot is distinguished by its significant gold and cobalt mineralization, making it one of the notable dual-commodity projects in Europe.
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Mawson Finland Limited (" Mawson " or the " Company ") (TSX-V: MFL) is pleased to confirm the closing of its previously announced brokered private placement financing (the " Offering ") for gross proceeds of C$6,000,000.50 from the issuance and sale of 3,157,895 common shares of the Company (each, a " Share ") at a price of C$1.90 per Share (the " Offering Price ").
The Offering was led by Stifel Nicolaus Canada Inc. as agent (the " Agent "). The Company paid to the Agent a cash commission of 6.0% of the gross proceeds of the Offering, other than in respect certain purchasers identified by the Company on a president's list (each, a " President's List Purchaser "), in respect of which no commission was paid to the Agent. The Company also paid a cash commission of 6.0% of the gross proceeds resulting from the subscriptions of certain of the President's List Purchasers to Southpoint Capital Sagl.
Noora Ahola, President and Chief Executive Officer of the Company, stated, " We would like to thank our shareholders for their continued support as we work towards advancing and de-risking the Rajapalot project. "
The Company intends to use the net proceeds from the Offering to continue exploring and advancing its flagship Rajapalot Gold-Cobalt Project and for general working capital purposes.
Mr. MacRae, Executive Chairman and therefore an insider of the Company, subscribed to the Offering for total of 20,530 Shares at the Offering Price. The issuance of Shares to Mr. MacRae constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that Mr. MacRae's participation in the Offering does not exceed 25% of the fair market value of the Company's market capitalization.
All Shares issued pursuant to the Offering are subject to a four-month hold period from the date of closing.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.
About Mawson Finland Limited
Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland. The Company is primarily focused on gold and cobalt. The Company currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland. The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 11 granted exploration permits for 10,204 hectares and 2 exploration permit applications and a reservation notification area for a combined total of 40,496 hectares. In Finland, all operations are carried out through the Company's wholly owned Finnish subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.
Additional disclosure including the Company's financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca .
Media and Investor Relations Inquiries
Please contact: Neil MacRae Executive Chairman at neil@mawsonfinland.com or +1 (778) 999-4653, or Noora Ahola Chief Executive Officer at nahola@mawson.fi or +358 (505) 213-515.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.
Forward-looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which are not comprised of historical facts. Forward-looking information includes, without limitation, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "aims", "may", "could", "would", "will", "must" or "plan". Since forward-looking information is based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, and management of the Company believes them to be reasonable based upon, among other information, the contents of the Company's technical report on the Rajapalot Project, entitled NI 43-101 Technical Report on a Preliminary Economic Assessment of the Rajapalot Gold-Cobalt Project, Finland , with an effective date of December 19, 2023 (the " PEA "), and the exploration information disclosed in prior news releases, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, any expected additional exploration of the Rompas-Rajapalot property, any expected receipt of additional assay results or other exploration results and the impact upon the Company thereof, the estimation of mineral resources, exploration and mine development plans, including drilling, soil sampling, geophysical and geochemical work, any expected search for additional exploration targets and any results of such searches, potential acquisition by the Company of any property, all values, estimates and expectations drawn from or based upon the PEA, statements concerning the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: any change in industry or wider economic conditions which could cause the Company to adjust or cancel entirely its exploration plans, failure to identify mineral resources or any additional exploration targets, failure to convert estimated mineral resources to reserves, any failure to receive the results of completed assays or other exploration work, poor exploration results, the inability to complete a feasibility study which recommends a production decision, the preliminary and uncertain nature of the PEA, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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Mawson Finland Limited (" Mawson " or the " Company ") (TSXV: MFL) is pleased to announce that due to significant demand, it has entered into an agreement with Stifel Nicolaus Canada Inc. (the " Agent ") to upsize its previously announced "best efforts" private placement financing (the " Offering ") to up to C$6,000,000 in gross proceeds from the issuance and sale of up to 3,157,895 common shares of the Company (each, a " Share ") at a price of C$1.90 per Share (the " Offering Price ").
The Company intends to use the net proceeds from the Offering to continue exploring and advancing its flagship Rajapalot Gold-Cobalt Project and for general working capital purposes.
All Shares issued pursuant to the Offering will be subject to a four-month hold period from the date of closing. The Offering is expected to close on or about March 5, 2025 , and is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the United States , nor in any other jurisdiction.
About Mawson Finland Limited
Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland . The Company is primarily focused on gold and cobalt. The Company currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland . The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 11 granted exploration permits for 10,204 hectares and 2 exploration permit applications and a reservation notification area for a combined total of 40,496 hectares. In Finland , all operations are carried out through the Company's wholly owned Finnish subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.
Additional disclosure including the Company's financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.
Forward-looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which are not comprised of historical facts. Forward-looking information includes, without limitation, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "aims", "may", "could", "would", "will", "must" or "plan". Since forward-looking information is based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, and management of the Company believes them to be reasonable based upon, among other information, the contents of the Company's technical report on the Rajapalot Project, entitled NI 43-101 Technical Report on a Preliminary Economic Assessment of the Rajapalot Gold-Cobalt Project, Finland , with an effective date of December 19, 2023 (the " PEA "), and the exploration information disclosed in prior news releases, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, any expected additional exploration of the Rompas-Rajapalot property, any expected receipt of additional assay results or other exploration results and the impact upon the Company thereof, the estimation of mineral resources, exploration and mine development plans, including drilling, soil sampling, geophysical and geochemical work, any expected search for additional exploration targets and any results of such searches, potential acquisition by the Company of any property, all values, estimates and expectations drawn from or based upon the PEA, statements concerning the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering, and the completion of the Offering, on the terms described or at all, and the date of such completion. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: any change in industry or wider economic conditions which could cause the Company to adjust or cancel entirely its exploration plans, failure to identify mineral resources or any additional exploration targets, failure to convert estimated mineral resources to reserves, any failure to receive the results of completed assays or other exploration work, poor exploration results, the inability to complete a feasibility study which recommends a production decision, the preliminary and uncertain nature of the PEA, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, including the approval of the TSX Venture Exchange for the Offering, any inability of the Company to complete the Offering on the terms described herein or at all, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE Mawson Finland Limited
View original content: http://www.newswire.ca/en/releases/archive/February2025/14/c7067.html
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Mawson Finland Limited (" Mawson " or the " Company ") (TSXV: MFL) is pleased to announce that it has entered into an agreement with Stifel Nicolaus Canada Inc. (the " Agent ") to act as lead agent and sole bookrunner in connection with a "best efforts" private placement financing (the " Offering ") for aggregate gross proceeds of up to C$5,000,000 from the issuance and sale of up to 2,631,579 common shares of the Company (each, a " Share ") at a price of C$1.90 per Share (the " Offering Price ").
The Company intends to use the net proceeds from the Offering to continue exploring and advancing its flagship Rajapalot Gold-Cobalt Project and for general working capital purposes.
All Shares issued pursuant to the Offering will be subject to a four-month hold period from the date of closing. The Offering is expected to close on or about March 5, 2025 , and is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the United States , nor in any other jurisdiction.
About Mawson Finland Limited
Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland . The Company is primarily focused on gold and cobalt. The Company currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland . The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 11 granted exploration permits for 10,204 hectares and 2 exploration permit applications and a reservation notification area for a combined total of 40,496 hectares. In Finland , all operations are carried out through the Company's wholly owned Finnish subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.
Additional disclosure including the Company's financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.
Forward-looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which are not comprised of historical facts. Forward-looking information includes, without limitation, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "aims", "may", "could", "would", "will", "must" or "plan". Since forward-looking information is based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, and management of the Company believes them to be reasonable based upon, among other information, the contents of the Company's technical report on the Rajapalot Project, entitled NI 43-101 Technical Report on a Preliminary Economic Assessment of the Rajapalot Gold-Cobalt Project, Finland , with an effective date of December 19, 2023 (the " PEA "), and the exploration information disclosed in prior news releases, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, any expected additional exploration of the Rompas-Rajapalot property, any expected receipt of additional assay results or other exploration results and the impact upon the Company thereof, the estimation of mineral resources, exploration and mine development plans, including drilling, soil sampling, geophysical and geochemical work, any expected search for additional exploration targets and any results of such searches, potential acquisition by the Company of any property, all values, estimates and expectations drawn from or based upon the PEA, statements concerning the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering, and the completion of the Offering, on the terms described or at all, and the date of such completion. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: any change in industry or wider economic conditions which could cause the Company to adjust or cancel entirely its exploration plans, failure to identify mineral resources or any additional exploration targets, failure to convert estimated mineral resources to reserves, any failure to receive the results of completed assays or other exploration work, poor exploration results, the inability to complete a feasibility study which recommends a production decision, the preliminary and uncertain nature of the PEA, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, including the approval of the TSX Venture Exchange for the Offering, any inability of the Company to complete the Offering on the terms described herein or at all, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE Mawson Finland Limited
View original content: http://www.newswire.ca/en/releases/archive/February2025/12/c6921.html
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Mawson Finland Limited ("Mawson" or the "Company") (TSX-V:MFL) is pleased to announce the mobilization of four diamond drill rigs, and a ‘base-of-till' (BOT) drilling rig to site, kicking-off the 2025 drill program at the Company's wholly-owned Rajapalot gold-cobalt project in Finland
Highlights:
Ms. Noora Ahola, Mawson Finland CEO, states: "We are very excited to report the commencement of our 2025 winter drilling campaign at Rajapalot. Presently, we have 2 drilling rigs now operating at Rajapalot, with two additional rigs scheduled to begin drilling this week. In addition, we also have a BOT drilling rig up-and-running making progress with our surface geochemical exploration programs around the greater Rajapalot project area. We look forward to presenting results of these drilling programs over the coming months as these exciting works advance and unfold at Rajapalot."
Winter drilling program
Three diamond drill rigs have been mobilized and have initiated drilling at Rajapalot, with one additional rig presently being mobilized to site. Between 12,000 and 15,000 meters of drilling are planned from now (January 2025) through to April 2025, with 10,000 to 12,000 meters of drilling focusing on resource expansion ambitions, while a further 2,000 to 3,000 meters focused on our ‘target-test' exploration program.
Resource drilling at Rajapalot will predominantly focus on the Palokas, South Palokas and Raja zones of mineralization, whereby resource extensions and ‘step-outs' will follow on from the 2024 drilling seasons results (see Mawson Finland's 2024 drilling summary news release dated November 6,2024), guided by the defined EM conductive bodies identified at depth at Palokas, South Palokas and Raja (as presented in Mawson Finland's news release dated November 19, 2024). Target-test exploration drilling will focus on brownfields targets presently being further developed and defined through BOT geochemical drilling, in conjunction with results from 2024 geophysical surveys (see Mawson Finland's news releases dated November 19, 2024 for DHEM targets, and December 17, 2024 for Ionic Leach soil geochemical anomalies).
A 'base-of-till', or ‘BOT' drilling rig has also been mobilized to Rajapalot and begun drilling shallow holes (typically around 5 - 15 meters depth) through the glacial regolith layers to collect a sample from the bedrock-regolith interface. Such drill-sampling of the bedrock-regolith interface has been successfully used for decades in the Nordics to assist in locating the bedrock source of soil and boulder geochemical anomalies found at surface. These short, vertical drill-holes will be spaced between 10 to 20 meters, and arranged along continuous lines in order to transect and collect samples sitting atop buried bedrock in which both geochemical (Ionic Leach soil results) and geophysical (gradient-array IP and resistivity, and ground magnetic) surface detected anomalies exist undercover. Approximately 500+ BOT holes are planned to be drilled and samples over the coming months at Rajapalot. Any highly-anomalous gold- or cobalt-rich BOT samples will be immediately drill-tested in this season's target-test drilling campaign.
Deposit Model
At Rajapalot, mineralization is regarded as orogenic in nature. All examples of gold-cobalt mineralisation are consistently located within highly-sheared and foliated wall-rocks adjacent to strongly hydrothermally altered, northwest to north dipping shear-zones. Mineralisation is typically encountered as disseminated to semi-massive sulfide lenses (predominantly pyrrhotite and lesser pyrite ± cobaltite), hosted within strongly deformed and altered, mafic volcanic and volcaniclasitic stratigraphy of the upper portions of the Paleoproterozoic-aged Kivalo Group of the Peräpohja Greenstone Belt. Prospects with high-grade gold and cobalt mineralisation at Rajapalot occur across a 3 km (east-west) by 2 km (north-south) area within the larger Rajapalot project area measuring 4 km by 4 km with multiple mineralized boulders, base-of-till (BOT). Gold-Cobalt mineralization at Rajapalot has been drilled to approximately 470 metres below surface at both South Palokas and Raja prospects, and mineralisation remains open at depth across the entire project.
Rajapalot Mineral Resource
An Inferred Mineral Resource ("MRE") has been calculated for the Rajapalot project (effective date August 26, 2021), and is based on an ‘underground only' mining scenario containing 9.8 million tonnes @ 2.8 g/t gold ("Au") and 441 ppm Co, equating to 867 thousand ounces ("koz") gold and 4,311 tonnes of cobalt.
Zone | Cut-off (AuEq¹) | Tonnes (kt) | Au (g/t) | Co (ppm) | Au (koz) | Co (tonnes) |
Palokas | 1.1 | 5,612 | 2.8 | 475 | 501 | 2,664 |
Raja | 1.1 | 2,702 | 3.1 | 385 | 271 | 1,040 |
East Joki | 1.1 | 299 | 4.5 | 363 | 43 | 109 |
Hut | 1.1 | 831 | 1.3 | 428 | 36 | 355 |
Rumajärvi | 1.1 | 336 | 1.4 | 424 | 15 | 142 |
Total Inferred Resources | 9,780 | 2.8 | 441 | 867 | 4,311 |
Rajapalot Inferred Mineral Resource Effective August 26, 2021
Qualified Person
The technical and scientific information in this news release was reviewed, verified and approved by Dr. Thomas Fromhold, an employee of Fromhold Geoconsult AB, and Member of The Australian Institute of Geosciences (MAIG, Membership No. 8838). Dr. Fromhold is a "qualified person" as defined under NI 43-101. Dr. Fromhold is not considered independent of the Company under NI 43-101 as he is a consultant of the Company.
About Mawson Finland Limited
Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland. The Company is primarily focused on gold and cobalt. The Corporation currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland. The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 11 granted exploration permits for 10,204 hectares and 2 exploration permit applications and a reservation notification area for a combined total of 40,496 hectares. In Finland, all operations are carried out through the Company's fully owned subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.
Additional disclosure including the Company's financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca.
Media and Investor Relations Inquiries
Please contact: Neil MacRae Executive Chairman at neil@mawsonfinland.com or +1 (778) 999-4653, or Noora Ahola Chief Executive Officer at nahola@mawson.fi or +358 (505) 213-515.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.
Forward-looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which are not comprised of historical facts. Forward-looking information includes, without limitation, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "aims", "may", "could", "would", "will", "must" or "plan". Since forward-looking information is based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, and management of the Company believes them to be reasonable based upon, among other information, the contents of the PEA and the exploration information disclosed in this news release, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, any expected receipt of additional assay results or other exploration results and the impact upon the Company thereof, any expected milestone independent data verification, the continuance of the Company's quality assurance and quality control program, potential mineralization whether peripheral to the existing Rajapalot resource or elsewhere, any anticipated disclosure of assay or other exploration results and the timing thereof, the estimation of mineral resources, exploration and mine development plans, including drilling, soil sampling, geophysical and geochemical work, any expected search for additional exploration targets and any results of such searches, potential acquisition by the Company of any property, the growth potential of the Rajapalot resource, all values, estimates and expectations drawn from or based upon the PEA, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: any change in industry or wider economic conditions which could cause the Company to adjust or cancel entirely its exploration plans, failure to identify mineral resources or any additional exploration targets, failure to convert estimated mineral resources to reserves, any failure to receive the results of completed assays or other exploration work, poor exploration results, the inability to complete a feasibility study which recommends a production decision, the preliminary and uncertain nature of the PEA, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Mawson Finland Limited
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Maritime Resources (TSXV:MAE) is a Canadian gold development company advancing the fully permitted, high-grade Hammerdown project in Newfoundland & Labrador’s prolific Baie Verte mining district. A past-producing asset, Hammerdown is shovel-ready and de-risked, with construction underway and first ore deliveries to the Pine Cove Mill anticipated between late summer and early fall 2025.
Hammerdown is uniquely positioned to capitalize on existing infrastructure, with close access to paved roads, power, ports, and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is pursuing a low-capex, staged production strategy—leveraging its established infrastructure and skilled local workforce to reduce costs, mitigate risk, and fast-track value creation through near-term cash flow generation amid record-high gold prices.
Hammerdown project siteLooking ahead, Maritime Resources aims to establish a 100,000 oz/year production platform by integrating nearby deposits—including Orion, Stoger Tight, and Deer Cove—and reactivating its 700 tpd Nugget Pond gold plant. The company’s extensive regional land package spans over 435 sq km of highly prospective terrain, with strong potential for gold, VMS, and porphyry-style mineralization.
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Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250710272213/en/
Figure 1: Road Cut Zone Drill Hole Locations and Simplified Geology
The Company also completed an initial test of the gap between the Road Cut and Jagger Zones, confirming the presence of the interpreted structure. Additionally, the Company has provided an outline of its next exploration priorities as it advances plans for its next phase of drilling and regional target work.
Diamond Drill Results – Highlights:
Road Cut Zone:
Edward Gosselin, CEO and Director of Kobo commented: "Our latest drilling has outlined additional strong gold mineralization at the Road Cut Zone, highlighting its scale and the consistency of grades and widths we are seeing along strike and down dip. Importantly, these results build on our understanding of the structural setting at Kossou and will help guide how we advance the Road Cut Zone in parallel with the Jagger Zone, including the structural corridor between the two targets."
He continued: "With this phase of diamond drilling now complete, our team is focused on advancing a larger, systematic program to further define the Jagger, Road Cut and Contact Zones, test the potential connection of the gap between these Jagger and Road Cut Zones, and expand our footprint to new targets identified at the Jagger South area and the underexplored western portion of the permit. Based on the work completed to date, we remain confident in the scale and continuity of mineralization at Kossou and believe the project continues to demonstrate significant potential as we move towards the next phase of drilling and a maiden Mineral Resource Estimate."
Road Cut Zone Results
Results from six diamond drill holes at the Road Cut Zone have been received. Holes KDD0088 to KDD0090 were drilled on three sections (RCZ725 to RCZ775) (see Figure 1) to test gold mineralization associated with diamond drill hole KDD0056 , which previously returned 10.0 m at 4.57 g/t Au ( see press release dated January 30, 2025 ).
KDD0090 intersected two zones of strong gold mineralization: an upper intercept of 9.75 m at 1.69 g/t Au , including 1.0 m at 11.20 g/t Au , highlighting the high-grade nature of the cross-cutting V2 veins within the dominant northerly trending shear systems. The second intercept, 11.0 m at 2.88 g/t Au from 140.0 m, including 3.0 m at 8.25 g/t Au from 143.0 m, supports the continuity of high-grade mineralization within a previously identified structure (see Figure 2). Results from KDD0088 and KDD0089 , which returned 3.5 m at 2.33 g/t Au from 81.0 m, illustrate the variability of gold grades within the well-defined shear zones at the Road Cut Zone. These mineralised zones remain open at depth and will be targeted in future drilling.
A second set of holes, KDD0091 to KDD0093 (see Figure 3), targeted an area of artisanal mining previously trenched and sampled by the Company, which returned strong gold mineralization including trench KTR070 with 28.0 m at 4.44 g/t Au and trench KTR069 with 6.0 m at 2.50 g/t Au ( see press release dated December 5, 2023 ). Previous diamond drilling on this target also confirmed strong mineralization, including hole KDD0012 , which intersected 11.0 m at 1.71 g/t Au from 50.0 m ( see press release dated July 11, 2024 ).
All drill holes intersected significant gold mineralization, highlighted by KDD0091 , which returned 15.55 m at 2.30 g/t Au from 123.0 m, including 8.30 m at 3.43 g/t Au from 126.0 m. The mineralized zone is characterized by strong shearing within the basaltic host rocks, cross-cut by a series of V2 and V1 veins that are strongly altered and host gold mineralization that was consistent throughout the interval. This zones shows excellent continuity from surface down dip on the section RCZ500 (see Figure 4). Additional drilling is being planned to test these structures to the north and south along strike of shear zone and to depth.
Testing Structural Corridor Between Jagger and Road Cut Zones
One hole, KDD0087 , was drilled within the interpreted structural corridor between the Road Cut and Jagger Zones. The hole intersected a well-defined shear zone near surface but did not return significant gold mineralization. The presence of the shear structure provides further support for Kobo's geological interpretation in this area. Additional drilling is planned to continue assessing the potential structural linkages and mineralization continuity between these two high-priority targets.
Soil Geochemistry to Define Targets: South Jagger and Western Kossou Permit Area
The Company has extended detailed infill soil geochemistry across the South Jagger Zone, collecting 270 samples to date. Previous infill sampling on a 25 m by 25 m grid proved effective in defining drill-ready targets at the Road Cut, Jagger and Kadie Zones further north. The South Jagger soil anomaly, which consistently returned values up to 1000+ ppb Au, now extends over a distance greater than 2 km, reinforcing its potential for follow-up drilling.
In addition, recent soil geochemical surveying has outlined a new northwest-trending anomaly of over 400 m in the western portion of the Kossou Permit, with individual sample results returning values up to 1,380 ppb gold. These results further support systematic target definition and demonstrate the upside potential across less-explored portions of the permit.
Update on Regional Exploration: Kotobi Permit
At the Kotobi Permit, the Company has collected 1,942 soil samples to date, with additional results pending. Recent work has defined a 50+ ppb gold-in-soil anomaly extending over 400+ m of strike length, with individual samples returning between 370 ppb and 1,420 ppb Au. Follow-up pitting and trenching are currently underway to better define this anomaly and assess its potential for future exploration work.
Earn-In Agreement: NESDAVE MINING
Regional scale soil geochemical sampling is underway at the Akoboissue Permit (PR0970). Information meetings are underway with local village chiefs and elders with respect to the Annépé Permit (PR0973) and regional scale soil geochemical sampling is expected begin shortly.
Next Steps: Preparing for Expanded Drilling and maiden Mineral Resource Estimate at Kossou
With this current phase of drilling now complete, the Company's exploration and technical team is integrating the latest drill data into detailed geological models to refine its understanding of the structural controls at the Jagger and Road Cut Zones. This work will directly inform the Company's next major drill campaign, which is anticipated to comprise more than 15,000 m of additional diamond drilling and begin in H2 2025. This expanded program will prioritize systematic step-out and deeper drilling at the Jagger Zone to support preliminary resource modelling, continue expansion drilling at the Road Cut Zone, and follow up on the interpreted structural corridor between the two zones.
Further, the Company plans to advance the Contact Zone with targeted drilling based on structural mapping completed to date and begin testing new targets on the western side of the Kossou Permit, supported by recent soil geochemical results indicating a strong northwest-trending gold anomaly. This methodical approach is designed to build on the Company's drilling success to date, advance the potential for a future maiden Mineral Resource Estimate, and support the Company's broader strategy to unlock value within Côte d'Ivoire's highly prospective Birimian gold belt.
Table 1: Summary of Significant Diamond Drill Hole Results
| BHID | East | North | Elev. | Az. | Dip | Length |
| From (m) | To | Int. | Au | Target |
| KDD0087 | 228681 | 775702 | 278 | 70 | -50 | 113.00 | NSR | Jagger | ||||
| KDD0088 | 228495 | 775956 | 289 | 70 | -50 | 173.00 | 55.00 | 57.00 | 2.00 | 0.88 | RCZ | |
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| 81.00 | 84.50 | 3.50 | 2.33 | RCZ | |
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| 119.00 | 120.00 | 1.00 | 3.32 | RCZ | |
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| 143.00 | 144.00 | 1.00 | 1.61 | RCZ | |
| KDD0089 | 228487 | 775979 | 283 | 70 | -50 | 179.00 | 59.00 | 62.00 | 3.00 | 0.56 | RCZ | |
| KDD0090 | 228500 | 775931 | 294 | 70 | -50 | 182.00 | 67.25 | 77.00 | 9.75 | 1.69 | RCZ | |
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| incl. | 68.90 | 74.00 | 5.10 | 2.93 | RCZ |
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| incl. | 68.90 | 70.00 | 1.00 | 11.20 | RCZ |
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| 104.00 | 105.00 | 1.00 | 1.67 | RCZ | |
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| 140.00 | 151.00 | 11.00 | 2.88 | RCZ | |
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| incl. | 140.00 | 146.00 | 6.00 | 4.66 | RCZ |
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| incl. | 143.00 | 146.00 | 3.00 | 8.25 | RCZ |
| KDD0091 | 228480 | 776270 | 244 | 70 | -50 | 161.00 | 28.00 | 33.00 | 5.00 | 3.05 | RCZ | |
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| 123.00 | 138.55 | 15.55 | 2.30 | RCZ | |
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| incl. | 126.00 | 138.55 | 12.55 | 2.77 | RCZ |
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| incl. | 126.00 | 134.30 | 8.30 | 3.43 | RCZ |
| KDD0092 | 228529 | 776261 | 226 | 70 | -50 | 116.00 | 88.00 | 94.00 | 6.00 | 2.05 | RCZ | |
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| 104.00 | 106.00 | 2.00 | 0.67 | RCZ | |
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| 112.00 | 115.00 | 3.00 | 0.76 | RCZ | |
| KDD0093 | 228510 | 776307 | 225 | 70 | -50 | 116.00 | 76.00 | 82.00 | 6.00 | 1.58 | RCZ | |
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| 106.05 | 114.00 | 7.95 | 0.43 | RCZ | |
| Notes: Cut-off using 2.0 m at 0.30 g/t Au Intervals are reported with no more than 3 m of internal dilution of less than 0.3 g/t Au except where indicated* | ||||||||||||
An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.
Sampling, QA/QC, and Analytical Procedures
Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d'Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou's Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.
Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo's common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com .
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250710272213/en/
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
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With a fully permitted, high-grade gold project, established infrastructure and first gold production on the horizon, Maritime Resources is set to become Atlantic Canada’s next gold producer, positioning the company for significant re-rating and long-term growth.
Maritime Resources (TSXV:MAE) is a Canadian gold development company focused on generating near-term cash flow from the Hammerdown gold project, a high-grade past-producer in the prolific Baie Verte mining district of Newfoundland & Labrador. The project is fully permitted, de-risked and shovel-ready, with construction underway and first ore deliveries to the Pine Cove Mill expected in late summer to early fall 2025.
Hammerdown project site
Hammerdown benefits from significant infrastructure synergies, including proximity to paved roads, power, ports and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is executing a bootstrap production model that leverages its installed infrastructure and local skilled labor to reduce costs, minimize risk and accelerate value creation through short term cash flow generation during a period of record high gold prices
Longer term, the company plans to build out a 100,000 oz/year production platform by incorporating nearby deposits (Orion, Stoger Tight, Deer Cove) and utilizing its idle 700 tpd Nugget Pond gold plant. Maritime’s regional land package includes more than 435 sq km of highly prospective ground with gold, VMS, and porphyry-style mineralization potential.
The Hammerdown gold project is Maritime’s flagship asset and is strategically located near the town of King’s Point in the Baie Verte mining district of Newfoundland and Labrador. A past-producing, high-grade deposit formerly operated by Richmont Mines, Hammerdown is being redeveloped as a shallow open-pit operation. The project hosts proven and probable reserves of 1.89 million tonnes at an average grade of 4.46 grams per ton (g/t) gold for 272,000 oz of contained gold, making it one of the highest grade open pit projects in North America
A feasibility study completed in 2022 outlined annual production of approximately 50,000 oz over a 5-year mine life, with attractive economics including a pre-tax NPV (5 percent) of US$251 million at a gold price of US$2,500/oz and an all-in sustaining cost (AISC) of US$912/oz. Since then Maritime has taken steps to de-risk the project including acquiring the Pine Cove mill, allowing for significant savings in capital costs compared to using the Nugget Pond mill.
The processing plan entails crushing ore on site and trucking it approximately 130 km to the Pine Cove Mill. Maritime has completed all major permitting for the project, and construction began in spring 2025 with pre-stripping, civil works and crushing infrastructure installation. The company completed more than 8,750 meters of tight-spaced (10x10 meters) grade control drilling, confirming excellent continuity and high-grade intercepts such as 24.5 g/t gold over 13.9 meters, including 42.2 g/t over 8.0 meters. First gold production is expected in late summer to early fall 2025, with ramp-up to 700 tpd mill feed supported by the fully operational Pine Cove Mill.
Pine Cove gold pour
Located near Baie Verte, the Pine Cove Mill is a 1,300-ton-per-day gold processing facility recently brought back online after two years of care and maintenance. The mill flowsheet includes crushing, grinding, flotation, regrinding of the float concentrate and Merrill-Crowe leaching circuits for gold doré production. The facility will be upgraded with a new 500 hp regrind circuit (replacing a 150 hp unit), a ball mill inching drive, and an enhanced material handling system to optimize recovery and reliability. The site also includes a large in-pit tailings storage facility, existing waste dump capacity, and access to a deepwater port. Pine Cove has already produced 700oz of gold from processing low grade mineralized stockpiles from around the site. The mill is now preparing to receive and process feed from Hammerdown, with full integration scheduled for H2/2025.
Nugget Pond Gold Circuit
Maritime also owns the 700 tpd carbon-in-pulp (CIP) gold circuit at the Nugget Pond Plant, located 40 km east of Pine Cove. Although currently idle, this plant represents a key component of Maritime’s long-term production strategy to scale toward 100,000 oz per year. The plant is fully configured for gold recovery and is well-positioned to process feed from future regional deposits or third-party toll milling. Maritime’s envisions Nugget Pond operating as a second production hub, enabling parallel processing capacity as the company develops additional deposits in the district.
Located within 10 km of the Pine Cove Mill, Stoger Tight and Deer Cove are advanced-stage deposits with near-term development potential. Stoger Tight hosts a historical NI 43-101 resource of 642,000 tons grading 3.02 g/t gold for 62,300 oz (indicated), with an additional 53,000 tons at 5.63 g/t for 9,600 oz (inferred). It is partially permitted and has the potential to become a satellite source of ore for Pine Cove.
Deer Cove is a high-grade system discovered by Noranda, featuring 500 meters of historic underground development. Recent drill results include 6.9 g/t over 25.1 meters, including 26.1 g/t over 3.6 meters. Stockpiles of 4,275 tons at 3.1 g/t gold have been identified. Both projects benefit from road access and proximity to infrastructure, making them ideal candidates for phased development and integration into Maritime’s hub-and-spoke production model.
Maritime’s broader exploration portfolio includes more than 435 sq km of prospective ground in the Baie Verte district, encompassing gold, copper, VMS and porphyry-style targets. The Green Bay project includes the Orion deposit, a near-surface gold target located along strike from Hammerdown. Whisker Valley is an epithermal gold system with porphyry potential, returning 6.2 g/t gold over 5.8 meters in previous drilling. El Strato hosts one of the highest-grade soil and bedrock anomalies in Newfoundland, with gold values up to 200 g/t in outcrop. Additionally, the Black Ridge VMS target features grab samples grading up to 12.6 g/t gold, 181 g/t silver, and 11.8 percent copper. These regional assets offer significant blue-sky potential and provide a robust pipeline of targets that could be developed and processed through Maritime’s existing infrastructure.
Garett Macdonald is a mining engineer with over 30 years of experience in mine development, engineering and operations. Former VP operations at Rainy River Resources, where he advanced the 8 Moz Rainy River project to construction prior to its $310-million sale to New Gold. He also served as VP project development at JDS Mining, leading the Curraghinalt feasibility study (+5 Moz gold), and held technical and management roles at Placer Dome, Teck and Suncor Energy.
A chartered accountant with more than three decades of financial leadership in the mining sector, Germaine M. Coombs is the former CFO of Aurelius Minerals and Stonegate Agricom, and former corporate controller at FNX Mining and the Iron Ore Company of Canada.
Perry Blanchard brings over 25 years of experience in health, safety and environmental leadership across major Canadian mining projects. Blanchard previously managed permitting and sustainability at Detour Gold’s flagship mine and Vale’s Voisey’s Bay operations.
Peter Goudie is a veteran operations leader with over 35 years of experience in mining and contracting, including roles with Guy J. Bailey and Shoreline Aggregates. He manages day-to-day operations at the Hammerdown project, with deep knowledge of logistics, mobile equipment and site execution in Newfoundland’s mining sector.
Dwight Goudies is a mill operations specialist with over 40 years of metallurgical and processing experience at gold and base metal mines across Newfoundland and Labrador. He is the former mill manager at FireFly Metals and Rambler Metals & Mining’s Nugget Pond facility, and currently oversees all operations at the Pine Cove Mill.
A mining engineer with more than 15 years of experience in mine engineering, project management and consulting, Billy Grace is the former general manager at Aureus Gold, and technical services manager at Newmont’s Musselwhite mine. He also worked at Golder Associates and Mining Plus.
Larry Pilgrim is an exploration geologist with more than 45 years of experience in Newfoundland. He is the former chief geologist at Richmont Mines and Rambler Metals, where he helped delineate the original underground reserves at Hammerdown and served as chief geologist during mine operations. He has been leading exploration activities for Maritime since 2018.
Eric Tremblay is a highly regarded mine builder with over 30 years of operations experience. He is the former GM at Osisko’s Canadian Malartic Mine and IAMGOLD’s Westwood and Sleeping Giant operations. Tremblay is currently the COO of Dalradian Resources, leading the multi-million ounce Curraghinalt gold project in Northern Ireland. Tremblay provides Maritime with expertise in mine construction, operational scale-up and technical risk management.
Paolo Toscano has over 30 years of experience in engineering and construction. He most recently served as senior vice-president of engineering and construction for Calibre Mining at the Valentine gold project in Newfoundland and Labrador. Prior to Calibre, he was director of projects for Alamos Gold and New Gold.
