High Gold Recoveries At The Hammerdown Project

TORONTO - Maritime Resources Corp. reported on the ongoing metallurgical test program for the Hammerdown Gold Project. Hammerdown is located near the towns of King's Point and Springdale in the Baie Verte mining district of Newfoundland and Labrador and is one of a select few fully permitted, high grade gold projects with an existing processing facility. The program was designed to confirm and optimize gold recovery data through the Company's Pine Cove mill, a 1,300 tonne per day flotation, regrind, leach and Merrill Crowe gold plant acquired in 2023.

Test work completed on a composite representative sample with an average grade of 4.0 gpt Au. 98.0% gold recovery through the flotation process; 98.1% gold recovery through optimized gold leach extractions of the reground concentrate; and 96.1% overall gold recovery prior to the Merrill Crowe process. Potential upside with the use of oxygen in the leaching circuit.

"These results are very positive for the Hammerdown and confirm the high gold recoveries that can be expected through the Pine Cove mineral processing circuit. Pine Cove has been on care and maintenance since Q1 2023 and remains in excellent condition. We are evaluating a restart of the mill to process existing stockpiles and set the stage for Hammerdown's development. With gold prices over US$2,400 and all major permitting completed, Maritime is one of the few near-term cash flow opportunities in the current market," said Garett Macdonald, President and CEO.