Shipment of first 10,000 tonnes of gold-bearing ore begin from
Armistice's McGarry Gold Mine for processing at QMX Gold's facilities
in Val-d'Or Township, Quebec
Armistice adopts temporary revised work schedule at McGarry Mine as
maintenance program underway
TORONTO, July 9, 2013 /CNW/ - Armistice Resources Corp. (TSX: AZ),
operator of the McGarry gold mine in Ontario's Kirkland Lake area,
today announced that it has begun shipping gold-bearing ore from the
mine for processing by QMX Gold Corporation (TSX: QMX).
On June 14, 2013, Armistice announced that it had signed a custom
milling agreement with QMX to begin processing ore from its McGarry
Mine at QMX's facilities in Val-d'Or Township, Quebec.
"With the construction of an impermeable pad at QMX's facilities now
completed, we have initiated shipment of the first 10,000 tonnes of ore
from our McGarry mine for processing," said Todd J. Morgan, chief
executive officer and president of Armistice.
As previously announced, the processing agreement with QMX is for a term
of at least one year and a minimum of 30,000 tonnes of ore to be
delivered by Armistice. The initial shipment by Armistice will be
10,000 tonnes of ore, followed by batches of 5,000 tonnes per month.
The milling agreement calls for QMX to provide for all the necessary
handling, sampling, crushing, grinding, processing, refining, and
Armistice also has introduced a revised work schedule at the McGarry
Mine to enable the company to undertake a maintenance program. While
the company is carrying out this maintenance program, crews will
continue to work the ore headings and the haulage and hoisting of
material that has been stored underground. This will make room for
further stope development.
Armistice expects to complete the maintenance program by mid-August. In
addition to maintenance on specific equipment, the company will
undertake infrastructure improvements primarily focused on improving
Erik Andersen, P.Eng., Vice-President and Chief Operating Officer of
Armistice Resources and a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved this news release.
About Armistice Resources Corp.
Armistice Resources, a Canadian-based exploration and development
company, is the owner of the McGarry gold mine in Ontario's Kirkland
Lake area. Including the McGarry Mine property, Armistice has
established a sizeable footprint of contiguous gold properties in
Virginiatown on the prolific Larder Lake-Cadillac Break that extends
200 km east-west straddling the Ontario and Quebec border and that have
produced 95 million ounces of gold in past operations. The McGarry Mine
consists of 33 contiguous patented mining claims, including three
licenses of occupation, totaling 484 hectares. The McGarry Mine is
fully permitted and all equipment and systems at the site have been
brought up to standards.
In addition, in December 2010, Armistice signed a definitive five-year
option agreement for the purchase of up to 100 percent of the mineral
rights on the Kerr-Addison property, which is adjacent to the McGarry
Mine. The Kerr-Addison Gold Mine was one of Canada's largest gold
producers, producing more than 11 million ounces of gold during a
58-year operating life from 1938 to 1996. In December 2012, Armistice
completed the purchase of the mineral rights on 18 mining claims
totaling 627 acres (the Barber-Larder Property) located on the western
boundary of the McGarry Mine.
Armistice Resources is listed on the Toronto Stock Exchange (Symbol: AZ)
and currently has 231,528,971 common shares issued and outstanding. To
find out more about Armistice Resources, please visit the company's
website at www.armistice.ca.
This news release contains forward-looking statements, including current
expectations on the timing of the commencement of production and the
rate of production, if commenced. These forward-looking statements
entail various risks and uncertainties that could cause actual results
to differ materially from those reflected in these forward-looking
statements. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results may
differ materially from those contained in such statements. These
uncertainties and risks include, but are not limited to, the strength
of the Canadian economy; the price of gold; operational, funding, and
liquidity risks; the degree to which mineral resource estimates are
reflective of actual mineral resources; and the degree to which factors
which would make a mineral deposit commercially viable are present; the
risks and hazards associated with underground operations. Risks and
uncertainties about Armistice Resources' business are more fully
discussed in the company's disclosure materials, including its annual
information form and MD&A, filed with the securities regulatory
authorities in Canada and available at www.sedar.com and readers are
urged to read these materials. Armistice Resources assumes no
obligation to update any forward-looking statement or to update the
reasons why actual results could differ from such statements unless
required by law.
SOURCE: Armistice Resources Corp.
For further information:
President, CEO, and Chairman
Todd J. Morgan
Armistice Resources Corp.
Investor and Media Relations
Richard W. Wertheim
Wertheim + Company Inc.