Issued and Outstanding common shares: 74,315,519
TORONTO, Oct. 20 /CNW/ - Armistice Resources Corp. (TSX: AZ) ("Armistice") is pleased to announce the beginning of a significant exploration drilling program at the McGarry Project. In addition to testing the extension of the existing mineralized package, this drilling program will also test for possible new parallel structures.
Following completion of the NI 43-101 compliant Technical Report dated 8 April 2009 and filed on SEDAR (the "Technical Report"), work on the project has continued towards meeting the recommendations as set out in the report. Recent work has focused on the recommendation to "continue to build the computer based geological database and the petrographic, mineralogical and structural knowledge to improve understanding of the controls on gold mineralization." To this end, all the historical drill logs have been reviewed in detail, selected historical holes have been re-logged and rock units re-interpreted in light of current understanding. This re-interpretation is providing improved clarity to the overall interpretation of the complex geological package.
Based on this review work, an exploration drilling programme has been planned to (1) define the potential between surface and the 1250 Level; (2) to continue the detailed definition of gold zones identified on the 2250 and 2050 Levels with close spaced short holes; and (3) to test the geological package south of the workings where a number of very encouraging gold showings and drill intersections close to surface are reported in the historical record within altered volcanic rocks.
The first aspect of this programme can be drilled from surface setups. The second part will be completed using highly portable drills capable of 300 ft holes. The third portion will be started with surface holes and then followed up from an existing drill station on the 2250 Level where a rig has been left specifically for this objective.
The work reported on in this information 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 Mine at Virginiatown in North-eastern Ontario located on the prolific Larder Lake-Cadillac Break which extends 200 km east-west straddling the Ontario-Quebec border, and has produced 95 million ounces of gold. The McGarry Mine consists of 33 contiguous patented mining claims including 3 licences of occupation totaling 484 hectares which adjoins the former producing Kerr Addison gold mine which produced 11 million ounces of gold.
ARMISTICE RESOURCES CORP.
"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, firstname.lastname@example.org