Southern Energy Corp press release
Armistice Resources Corp. commissions mining plan and resource update
TSXV - TSX Venture Exchange · Natural Gas · Natural Gas Liquids · Oil · Canada
Issued and Outstanding common shares: 51,264,184
TORONTO, April 23 /CNW/ - Armistice Resources Corp. (TSX: AZ) ("Armistice" or the "Corporation") has engaged Python Mining Consultants Inc. ("Python") of Hamilton, Ontario to complete a development and production plan for upper levels at McGarry from about 1250 to 2250 feet below surface.
Armistice Vice-President and COO Erik Andersen said "Python was selected because of the extensive experience its engineers have with gold deposits similar to the McGarry deposit." Armistice President and CEO Todd J. Morgan added: "The Python report will be a significant step forward for the McGarry Project."
The report will be a 43-101 compliant technical report setting out the scope of the work to be completed, a work schedule and expected costs.
Following completion of the current underground drilling and bulk sampling program, Armistice will update a 43-101 compliant resource estimate which will be independently reviewed by Python.
The upper levels of the project have been extensively tested by diamond drilling and limited drifting near the shaft in the past with very encouraging results. As reported in a June 2004 43-101 report by S.J. Carmichael, a 2,900 ton bulk sample taken from 1930 feet below surface (accessed from the 2050 Level) returned a head grade of 0.21 oz/t based on the results of custom milling in 1995. Another bulk sample was taken from the 1650 level but was mixed with low-grade material and the results were inconclusive. However, when describing the area that was bulk sampled, the Carmichael report states: "face sampling indicated the cherty material to grade in the 0.25 oz/t range...." Numerous additional resource blocks are identified from diamond drilling. The existing diamond drill testing and the two bulk samples are all within approximately 200 feet east and west of the shaft. The strike extent of the gold mineralization in the upper levels is completely open in both directions. When the current phase of drilling is completed in late May or early June, one of the drill rigs will be deployed to begin testing the westward strike extent of the gold zones above 2000 feet.
Preparatory work to permit the establishment of tracked mine development on the 2050, 1850, 1650 and 1450 levels will begin as soon as practical.
The work reported on in this press release is supervised by Erik Andersen, P.Eng., Vice President and COO of Armistice and Qualified Person. Mr. Andersen has reviewed and approved this release.
Armistice is a Canadian exploration company that owns the McGarry project in Northeastern Ontario located on the prolific Larder Lake break. The McGarry project is an advanced exploration underground gold project consisting of 34 contiguous patented mining claims and licences of occupation totaling 484 hectares adjoining the former Kerr Addison gold mine which produced in excess of 11 million ounces of gold. Underground drilling and bulk sampling is currently underway.
ARMISTICE RESOURCES CORP.
"Todd J. Morgan"
Todd J. Morgan
President, CEO and Chairman of the Board