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Maritime Resources: A Low-risk Path to Gold Production in One of the World’s Top Mining Jurisdictions
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.
Company Highlights
- Near-term Gold Production: First production targeted for H2/2025 from the fully permitted Hammerdown open pit project.
- High-grade Gold Reserves: 1.9 Mt at 4.46 g/t gold (272 koz) proven and probable reserves support initial 35,000-45,000 oz/year production.
- Low-CAPEX Startup: Initial capital estimated at C$15 to $20 million, among the lowest in the sector for a new mine, leveraging Maritime’s fully operational Pine Cove mill
- Owned Processing Infrastructure: Pine Cove Mill (1,300 tpd, operational) and the Nugget Pond gold plant (700 tpd CIP circuit, on standby).
- Exploration Upside: 435 sq km land package includes multiple brownfield and greenfield targets proximal to infrastructure.
- Institutional Backing: Strong support from Dundee Corporation, Eric Sprott and other institutions.
- Fully Funded: recently closed $20 million hard dollar financing and $10 million private placement (live) to fund mine startup and repay the existing US$5 million note.
- Local Workforce Advantage: Fully staffed Pine Cove Mill with 100 percent local residents
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Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou
- High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone
- Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing
- Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025
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:
- KDD0088
- 3.5 metres ("m") at 2.33 g/t Au from 81.0 m
- 1.0 m at 3.32 g/t Au from 119.0 m
- KDD0090
- 9.75 m at 1.69 g/t Au from 67.25, including 5.10 m at 2.93 g/t Au, from 68.9 m and 1.0 m at 11.30 g/t Au from 68.9 m, and
- 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
- KDD0091
- 5.0 m at 3.05 g/t Au from 28.0 m
- 15.5 m at 2.30 g/t Au from 123.0 m, including 8.0 m at 3.43 g/t Au from 126.0 m
- KDD0092
- 6.0 m at 2.05 g/t Au from 88.0 m
- KDD0093
- 6.0 m at 1.58 g/t Au from 76.0 m
- 7.95 m at 0.43 g/t Au from 106.0 m
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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|
|
|
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| 119.00 | 120.00 | 1.00 | 3.32 | RCZ | |
|
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|
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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.
News Provided by Business Wire via QuoteMedia
Maritime Resources
Investor Insight
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.
Overview
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.
Company Highlights
- Near-term Gold Production: First production targeted for H2/2025 from the fully permitted Hammerdown open pit project.
- High-grade Gold Reserves: 1.9 Mt at 4.46 g/t gold (272 koz) proven and probable reserves support initial 35,000-45,000 oz/year production.
- Low-CAPEX Startup: Initial capital estimated at C$15 to $20 million, among the lowest in the sector for a new mine, leveraging Maritime’s fully operational Pine Cove mill
- Owned Processing Infrastructure: Pine Cove Mill (1,300 tpd, operational) and the Nugget Pond gold plant (700 tpd CIP circuit, on standby).
- Exploration Upside: 435 sq km land package includes multiple brownfield and greenfield targets proximal to infrastructure.
- Institutional Backing: Strong support from Dundee Corporation, Eric Sprott and other institutions.
- Fully Funded: recently closed $20 million hard dollar financing and $10 million private placement (live) to fund mine startup and repay the existing US$5 million note.
- Local Workforce Advantage: Fully staffed Pine Cove Mill with 100 percent local residents
Key Projects
Hammerdown Gold Project
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 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
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.
Stoger Tight and Deer Cove Projects
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.
Green Bay, Whisker Valley and El Strato Exploration Projects
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.
Management Team
Garett Macdonald – President and CEO
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.
Germaine M. Coombs – CFO and Corporate Secretary
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 – VP, Environment & Sustainability
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 – Hammerdown Operations Manager
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 Goudie – Pine Cove Mill Manager
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.
Billy Grace – Chief Engineer
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 – Project Manager, Newfoundland Properties
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 – Technical Advisor Mining
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 – Technical Advisor Engineering and Construction
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.