Jan 10, 2013
VANCOUVER, BC - Maritime Resources Corp. (MAE-TSX Venture) reports that final results have been received for the 2012 Rumbullion trenching program at the Hammerdown deposit near Springdale, Newfoundland. These assay results have returned numerous high grade gold values along the Rumbullion Main (RM) vein, including values of up to 94.4 g/t gold over 0.3 metres width. The new values extend the strike length of the vein, confirming and building upon the previously released (NR 12-11, dated Sept. 12, 2012) values of up to 96.6 g/t gold over 0.3 metres. Trenching has now exposed the RM vein at surface for over 120 metres. Work was terminated due to the onset of winter weather but the vein remains robust at its eastern extension and work can be resumed after spring break-up.
Almost 500 saw-cut channel samples have been taken along the exposed RM vein at regular 4 metre intervals. Individual channel samples of the vein are very high grade, assaying up to 94 g/t Au over 0.3 metres. When wall rock assays are added and expanded to a minimum mining width of 1.2 metres, veins still average up to 23.9 g/t Au over 1.2 metres. The trenching and overburden conditions are still favourable on strike to the east and the vein remains open, with the most easterly sample assaying 60.75 g/t Au over 0.3 metres.
Mapping of the vein shows a typical lensoid nature of the vein, pinching and swelling over the exposed 120 metre length. This is similar to the mined portion of the western Rumbullion veins which were excavated between 2000 and 2004. The trenching has also shown that the RM vein bifurcates (splits) into two veins for a 75 metre extent of the exposed area. For reference, these are the named RM-1 and RM-2 veins and are separated by 2 to 3 metres.
Selected assay results of RM vein are shown below. A trenching diagram showing the area of channel sample locations and tabulated assay results are available on the Company's website.
The 2012 trenching program has been successful in returning strong gold assays over the Eastern Rumbullion Main vein. In this area of Eastern Rumbullion, a total of six gold bearing veins have been identified by earlier drilling, trending in a north-easterly direction. The RM vein is the only vein that is available for surface trenching due to topographic constraints, but the six veins are known to be spread over a zone about 125 metres wide which is open along strike to the east.
Eric Norton, President and CEO of Maritime, states "We are very pleased with the results of our 2012 work. We have now demonstrated that the Rumbullion vein system contains high grade mineralization over a significant length, very similar to that mined at the adjacent Hammerdown mine. We look forward to including these results in the NI43-101 compliant Resource Estimate which is currently being prepared by Tetra Tech. The encouragement received from this trenching program will now allow for planning a detailed drilling program to search for and outline potentially mineable lenses of gold mineralization. Being able to visibly follow this vein at surface clearly demonstrates its robust nature, and the ease of possibly obtaining a bulk sample for metallurgical testing."
Bernard H. 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. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill and channel sample strings. Samples are placed in sealed bags and shipped directly to the Eastern Analytical lab in Springdale, NL prior for gold fire assay analysis.
The Company would like to acknowledge the financial assistance given to the 2012 work program by the Government of Newfoundland and Labrador through its Junior Exploration Assistance Program at the Department of Mines.
About Maritime Resources Corp:
Maritime's Green Bay property consists of the Hammerdown gold deposit and the Orion gold deposit, separated by 1.5 km. The Hammerdown gold deposit was successfully mined by Richmont Mines between 2000 and 2004, producing ore at an average grade of 16.1 g/t Au. Maritime is currently updating the potential for remaining resources at Hammerdown and the newly outlined Rumbullion extension. 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, as stated in the Technical Report dated July 19, 2010. Commander Resources Ltd. holds a 2% NSR royalty on future production from the property with the exception of production from the Orion deposit. For additional information, please visit the Company's website at www.maritimeresourcescorp.com.
On behalf of the Board of Directors,
President and 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.