Issued and Outstanding common shares: 60,130,435
TORONTO, Sept. 30 /CNW/ - Armistice Resources Corp. (TSX: AZ)
("Armistice" or the "Corporation") is pleased to announce today that
underground mining activity related to the bulk sampling programme is nearing
the conclusion of the current phase after which the company plans to pause
mining and drilling activity to allow a complete assessment of the large
amount of data that has been collected.
Since commencement of the current programme in September 2007, the mining
work on the 2250 level has consisted of 2,800 feet of horizontal development
including 1,750 feet of access drifting and 1,050 feet of strike drifting
along potential gold zones; test stoping of two distinct zones; and over
42,000 feet of definition and underground exploration diamond drilling. By the
time this phase of work is complete in early October, approximately 50 drums
of bulk sample material will have been collected for bulk assay determination
as described in the press release of August 21, 2008. Approximately 3,000 tons
of crushed, gold-bearing rock from the bulk sampling programme will be
available on surface for custom milling - about half of which is estimated
from chip sampling to be "high grade" (above 0.15 oz/t) and the other half to
be "low grade" (above 0.05 oz/t).
Erik Andersen, Vice President and COO said the pause includes assessing
the build up of a backlog of drilling analysis to fully evaluate the data in
order that an optimum development strategy for the deposit can be designed and
engineered. Armistice is working with several consultants to develop this plan
which is to include an updated resource estimate, mining and milling concepts
setting out schedules and costs as well as the next phase of resource
definition and expansion.
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 North-eastern 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 which adjoins the former producing Kerr Addison gold mine which
produced in excess of 11 million ounces of gold.
"Todd J. Morgan"
Todd J. Morgan
President, CEO and Chairman of the Board
For further information:
For further information: Todd J. Morgan, (705) 567-4567,