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MAE Maritime Resources Corp

0.045
-0.005 (-10.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Maritime Resources Corp TSXV:MAE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -10.00% 0.045 0.045 0.05 0.045 0.045 0.045 511,650 20:06:53

Maritime Resources Commences Drilling on Orion Project

24/02/2011 2:00pm

Marketwired Canada


Maritime Resources Corp. (TSX VENTURE:MAE) has commenced a 4,000+ metre drill
program on the Green Bay property located near Kings Point, Newfoundland. The
objectives of the current program are as follows:




--  extend the Orion deposit which is open down plunge and along strike 
--  increase and upgrade the Orion inferred resource status 
--  search for the off-faulted Hammerdown gold veins 
--  test new targets developed by recent geophysical surveys between Orion
    and Hammerdown 



Target areas for these objectives are shown on maps on the Company's website at
www.MaritimeResourcesCorp.com.


The Company would like to acknowledge that financial support is provided by the
Junior Exploration Assistance Fund granted by the Government of Newfoundland and
Labrador's Department of Mines and Energy.


About the Green Bay Property:

The Green Bay property consists of the Hammerdown gold deposit and the Orion
gold deposit. The deposits are separated by a 1.5 km distance. The Orion gold
deposit contains an inferred resource of 119,000 ounces of gold in a 710,000
tonne deposit grading 5.2 g/t Au. The deposit consists of two main vein systems,
both of which are open along strike, up and down plunge. The Hammerdown gold
deposit was successfully mined by Richmont Mines between 2000 and 2004; the rich
gold bearing veins averaging 16.5 g/t Au, being cut off by a sharp fault between
250 and 300 metres depth.


Bernard Kahlert, P.Eng. is the Qualified Person as defined by National
Instrument 43-101 and has reviewed the technical disclosure contained in this
release.


On Behalf of the Board of Directors,

Bernard H. Kahlert, VP of Exploration

Statements in this press release other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.


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