Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Maritime Resources (TSXV: MAE) announced its intentions to expand in Newfoundland, northeastern Canada.
In a press release, the miner said it entered into an option agreement to earn a 100% interest in the Sprucy Pond property which is contiguous to its Hammerdown project.
Maritime’s management says it is evaluating high-grade gold prospects that are strategically located close to its Hammerdown project
According to the Toronto-based company, the 6.25-square-kilometre Sprucy Pond property consists of 25 claim units owned by United Gold and G2B Gold on a 50/50% basis.
“Historical work on the Sprucy Pond property has uncovered abundant angular gold-bearing quartz-pyrite float, bearing a strong resemblance to the Hammerdown high-grade gold-quartz sulfide veins,” the media brief reads. “With the Sprucy Pond option, the company increases its land position a further 2.5 kilometres east along the Hammerdown mineralized/structural trend.”
Under the terms of the agreement, Maritime can earn 100% interest in Sprucy Pond over a two-year period by making cash payments totalling $60,000 and issuing 750,000 shares.
