Gold-bearing quartz veins at the Property are hosted by Ordovician metavolcanic and metasedimentary rocks of the Catchers Pond Group. The style of veining, mineralization, alteration, host rock, and tectonism most closely resembles other mesothermal volcanichosted (greenstone belt) gold deposits throughout the world. This deposit type is referred to as type I01 by the British Columbia Ministry of Energy, Mines and Natural Gas Deposit Profiles and as United States Geological Survey (USGS) Model 36a.

The Hammerdown vein system consists of a series of stacked gold vein zones situated within a 250 m long section of a 1,800 m long shear zone. Its eastern boundary is the Rumbullion Fault, a northeasterly trending right lateral fault, to the east of which is the Rumbullion gold zone which hosts several narrow, high grade gold vein zones. To the west, the Hammerdown vein system pinches out approximately 75 m to the southwest of a strong flexure in the shear zone which rotates the shear from east-west at Hammerdown to the southwest. This southwest trending shear extends for several hundred meters and hosts the Muddy Shag gold zone containing two or three gold veins from which several good gold intersections have been returned.

At depth, the entire shear zone, including most gold zones, are cut off by the extensive Captain Nemo Fault, which is a north dipping, normal fault with some strike slip movement. Geological interpretation indicates downdrop of the Hammerdown area to be several hundred meters. As the Captain Nemo Fault cuts through the Hammerdown shear at an oblique angle, veins are cut off at depths varying from 150 to 250 m. Several of the veins appear to pinch out naturally before reaching the fault. Mineral vein fragments were identified in the fault zone during mining.

The Hammerdown main veins are closely associated with the most extensive of the late dykes near the top of the north dipping overturned mafic sequence. Hanging wall veins are in the mafic rocks, however some footwall mineralization is encountered in the older felsic units.

The Captain Nemo fault has dropped the entire mineral zone complex into the mafic sequence, leaving a small wedge of old felsics as an apparent inclusion near the mineral lenses.

At Hammerdown a total of nine gold bearing veins have shown sufficient grade and continuity to be included in reserves. An additional six to eight small or weak vein systems have been identified in the Hammerdown zone several of these have developed into small ore shoots which were mined. At Rumbullion, seven veins have ore lenses along part of their strike extent, several of which were mined.

The gold bearing veins consist essentially of vein quartz with 5 to 20% pyrite occurring as massive stringers and dense disseminations. Base metal sulphides total about one percent, with zinc content equaling combined copper and lead values. Minor bismuth occurs as native metal as well as the sulphosalt hammarite.

Gold is intimately associated with all sulphide phases, occurring as discrete grains within sulphides, at sulphide grain boundaries and, occasionally in quartz fractures near sulphide grains. There is a direct relationship between sulphide content and gold grade in veins. The gold is always fine grained, with 80% being of grain size less than 20 µm. The largest grain size is slightly over 100 µm along the long axis, relatively little visual gold occurs in the deposit.

Other than quartz, gangue minerals are chlorite and carbonate (calcite and ankerite) with minor rutile. Hydrothermal alteration of mafic wall rocks consists mainly of muscovite/sericite and calcite, with minor rutile, creating a light bleaching halo usually similar in thickness to the gold bearing vein.

At Hammerdown, the main vein systems, designated Ml and M2, are respectively located along the north and south contacts of a fairly continuous, sill-like felsic porphyry body with the enclosing sheared mafic volcanics. The M2 vein is the stronger of the two. Both veins dip predominantly to the north although at depth they rotate to a steep southerly dip. The veins also appear to plunge to the west but high grade shoots within the plane of the vein plunge steeply to the east.

At Rumbullion, the vein with the highest grade and lateral continuity is designated RM (Rumbullion Main).

Just east of the Rumbullion Fault, the Rumbullion vein system continues in an easterly direction for about 150 m, where an abrupt flexure rotates the vein system sharply to the northeast. The vein system continues to the northeast for at least 500 m, however, the number of lenses seems to reduce in this direction.

At Muddy Shag, two sub-vertical dipping quartz vein zones with a strike of 050° are hosted within moderately to strongly sheared mafic to felsic volcaniclastics and minor black cherty sediments assigned to the Ordovician Lushes Bight Group. All zones are gold-bearing. Two main vein zones (MM1, MM2) show significant vertical and lateral geological continuity. A third vein (the J vein) is present only in the eastern region of Muddy Shag, but yields exceptionally high gold values. The immediate area is intruded by a series of sheeted mafic dykes (often leucoxene bearing) and quartz feldspar porphyry dykes, the latter of which are intimately associated with gold bearing veins hosted in Muddy Shag deposit.

Ore will be mined by way of a combination of both Long Hole and Mechanized Cut and Fill, utilizing the original access portal and a small portion of the existing underground workings.

On November 17, 2014, the Company announced entering into the LOI with Rambler, to evaluate the economic potential of re-opening the past producing Hammerdown gold mine. Under the terms of the LOI, the companies will negotiate and enter into a mutually agreeable Engineering and Evaluation Service Agreement to evaluate and determine the mineable ounces available on the property. Following a positive economic analysis, should both companies agree to proceed with the development of the project, they will negotiate and enter into mutually agreeable management services and toll milling agreements that could see Rambler manage the process of re-opening the old Hammerdown mine. If viable, this arrangement could allow Hammerdown material to be toll treated in the gold hydromet CIP circuit at the Nugget Pond milling facility at a rate of up to 500 metric tonnes per day (‘mtpd’). It is anticipated that the engineering, procurement, permitting and construction of the new grinding circuit at Nugget Pond could be completed in a timely manner, with the Hammerdown material being scheduled and ready for trucking based on the same timeline. A toll milling fee would be negotiated to cover the capital expenditures and margin required to process the material at the Nugget Pond milling facility including permanent storage of Hammerdown tailings at the Nugget Pond site. Throughout the process the Green Bay Property will remain 100% owned by Maritime along with all rights to continue exploring the land package.