Your browser does not support script

News

Show printable version of 'Maritime Intersects High Grade Gold at Orion' in a New Window

 
Apr 12, 2011
Maritime Resources Corp. (MAE-TSX Venture) provides an update on the 2011 drill program at the Orion gold project, located near Springdale, Newfoundland. The current drill campaign has intersected high grade gold intervals in extensions of the previously identified Discovery and Main Vein zones, as shown in the table below.

Key Intersections:
Drill Hole Number Name From – To (metres) Total (metres) Average g/t Gold
11-89 Discovery Vein 390.10 to 392.20 2.10 7.47
(including) 390.95 to 392.20 1.25 10.16
Main Vein 432.80 to 434.00 1.20 16.58
(including) 433.10 to 433.70 0.60 32.51
11-87 Discovery Vein 303.20 to 304.05 0.85 1.99
Main Vein 320.55 to 320.90 0.35 3.93
11-88 No Significant Values

The high grade gold intervals reported above were assayed by both fire assay and metallic assay techniques to capture possible irregular gold distribution. As all assays varied by less than 15%, the assays shown in the table are the weighted average of the two techniques. True thickness of all intersections reported above is estimated at 91% of drilled interval length.

The Hole 11-89 intersections extend both the Discovery and Main Veins over 50 metres along strike to the south-west where previous interpretation was thought that the veins terminated. These vein systems are now open in this direction for a further 200 metres, substantially increasing the opportunity to increase gold resources at Orion. Drilling is continuing in this direction.

These results are the highest grades that have yet been encountered at Orion where the mineralization of the veins is similar to those at the nearby Hammerdown deposit.

Drilling commenced on February 24, 2011 and to date five holes have been completed for a total of approximately 2,300 metres. The Orion deposit is located 2 kilometres from the formerly producing Hammerdown mine, which operated from 2000 to 2004, producing 315,000 tonnes of ore grading an average of 16 g/t gold. The intent of the current program is to examine the Orion prospect for a possible extension of Hammerdown type ore and to expand the inferred resource at Orion.

This drill program has been assisted financially by the Government of Newfoundland and Labrador through its Junior Exploration Assistance Program at the Department of Mines.

Quality Assurance and Quality Control ("QA/QC") Procedures for the Orion Project:

Maritime Resources is presently drilling at the Orion project utilizing a diamond drill rig with NQ-sized core being recovered. The drilling is conducted by Springdale Forest Resources Inc. The core is logged, photographed and then split in half using a diamond core saw. Samples are collected on intervals ranging from 30 to 80 cm core length. Half the core is retained off-site at a secure storage facility and the other half is sampled, secured in sealed, labelled bags and then delivered to Eastern Analytical Ltd lab in Springdale, NL. The entire sample is crushed to 95% passing 2 millimetres, split and pulverized to 95% passing 150 mesh, split again, and a 150 gram sample sent for assay. Gold assays are determined by fire assay with an AA finish, and over limit assays are determined by fire assay with a gravimetric (metallic) finish. The Company systematically inserts certified standard samples, duplicate samples and blank samples in a non-sequential order in all batches of samples sent to Eastern Analytical as a means of quality control. Additionally, Eastern Analytical has stringent internal QA/QC protocols. Upon completion of the 2011 assaying 5% to 10% of the core sample pulps from 2011 drilling program will be submitted to another certified lab for check assaying.

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

About Maritime Resource Corp:

Maritime Resource Corp. is currently drilling a 4,000+ metre program on the Orion gold deposit in Newfoundland.

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 200 and 250 metres depth.

On Behalf of the Board of Directors,


Eric W. Norton
President & CEO

For further information, please call:
Cathy DiVito, Investor Relations
Telephone: (604) 484-7111

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.