TORONTO, July 9, 2012 /CNW/ - Armistice Resources Corp. (TSX: AZ), which is carrying out mining at its McGarry gold mine in Ontario's Kirkland Lake area, today announced that additional findings of its surface diamond-drilling program on the adjacent Kerr-Addison Mine property provide further evidence of an extensive gold-bearing system in the Mill Zone.
"We are excited by the results of the drilling program that we have so far completed in the Mill Zone and elsewhere on the Kerr-Addison property," said Todd J. Morgan, President and Chief Executive Officer. "The results to date are confirming our expectations that the Kerr-Addison property has great potential for future gold mining.
"We will now begin planning follow-up phases of drilling. In combination with the available historical data, we expect to use these results in a preliminary economic assessment toward planning possible future mining operations for the Kerr-Addison property," he said.
In total, Armistice today released assay results from 46 holes drilled on its Kerr-Addison property, bringing the total reported to date to 68 holes, as well as for 15 holes completed on the McGarry Mine property. This is the fourth set of very encouraging assay results that Armistice has released from the drilling program on the Kerr-Addison property.
The Kerr-Addison property adjoins Armistice's McGarry Mine property to the east. The Kerr-Addison Mine produced approximately 11 million ounces of gold during a 58-year operating life from 1938 to 1996. Despite the outstanding success of the Kerr-Addison Mine, most of the 2,000 acres of the property, including four miles of strike length along the Larder Lake-Cadillac Break, was virtually unexplored. Specifically, the Mill Zone, which lies about 700 feet southeast from the Kerr-Addison Mine, was not mined or systematically drill tested over its interpreted strike length.
Kerr-Addison Mine Property
Mill Zone
Armistice previously reported, on June 22, September 7, and December 8, 2011 that the results of an initial 22 holes drilled on the Kerr-Addison Mill Zone area showed extensive gold mineralization in multiple locations in most holes. Locations of the drill holes are shown on the attached map.
The assay data now interpreted for an additional 11 holes (assay results are still awaited for two holes) provides further evidence that there is an extensive gold-bearing system away from the previous mine workings on the Kerr-Addison property, extending from the surface to at least 1,400 feet. The 35 holes drilled in the Mill Zone to date represent the first phases of testing of this area.
Assay Highlights from the current release of Kerr Mill Zone Surface Drill Data
(See attached table for full table of assay results and notes)
| DDH KA-12-29 | 0.90 oz/t (30.9 g/t) gold over 8.4 ft |
Green Giant Zone
Armistice is reporting the assay results of 14 holes drilled in the Green Giant Zone. The Green Giant Zone is located a few hundred feet north of the former Kerr-Addison Mine workings and was first identified in the 1990s. Less than optimal diamond drill set ups had to be used to test the Green Giant Zone because of the location within a built-up area of North Virginiatown. Initial assay results as reported here confirm high-grade gold values in the Green Giant Zone. All the holes in the current program reached the targeted hangingwall favorable carbonate lithology. Four holes encountered one to three gold zones with intersection lengths up to 19 feet. The holes have verified the new hangingwall Green Giant Zone. Follow up drilling will require set ups within the built up area of the town.
Assay Highlights from the current release of Green Giant Zone Surface Drill Data
(See attached table for full table of assay results and notes)
| DDH GG-11-03 | 0.59 oz/t (20.2 g/t) gold over 4.9 ft |
East Chesterville
The East Chesterville holes were drilled in an area east of the previous Chesterville Mine area (incorporated into the Kerr-Addison property in the 1950s). Historical drilling in the area appears to have been very limited with low-grade gold mineralization in two holes. Eight of the ten holes drilled by Armistice encountered one to four gold enriched zones up to 20 feet in width within 700 feet of surface. Although the gold zones encountered are low grade, it is encouraging that both the green carbonate and "flow ore" geological environments were intersected. Additional drill testing to the east is warranted.
VT Zone
The VT holes were drilled near the southwest end of the town of Virginiatown in an area of known low-grade, near-surface gold mineralization discovered in the 1940s. This mineralization is under a carbonate ridge that is on the general trend of the Kerr-Addison Mill Zone. All 11 of the VT holes drilled in 2012 encountered the green carbonate alteration lithology, which is an excellent indicator of possible gold enrichment. These holes extended the green carbonate zone approximately 800 feet further west and to about 700 feet below surface. The results also add encouragement that there is continuous gold enrichment extending about 1.5 miles between the Kerr-Addison and the Armistice Mill Zones.
Assay Highlights from the current release of the VT Zone Surface Drill Data
(See attached table for full table of assay results and notes)
| DDH VT-11-05 | 0.26 oz/t (8.9 g/t) gold over 10.0 ft | ||||||||||||
| including | 1.12 oz/t (38.4 g/t) gold over 2.0 ft | ||||||||||||
| DDH VT-11-06 | 0.74 oz/t (5.0 g/t) gold over 5.0 ft | ||||||||||||
The McGarry Mine Property
Armistice completed a program of surface drilling at the McGarry Mine property in 2011 in the area near the shaft location. This work followed up a surface-drilling program reported on April 28, 2010. Local terrain has made the location of drill collar sites less than ideal. The objective of this program was to continue the upward exploration of the potential for the extension of the gold mineralization identified below the mine's 1250 Level.
Results from the 15 holes completed in the current program confirmed narrow gold zones in four of the holes. Before this program of surface drilling at McGarry is continued, Armistice will complete a full review of all the near-surface results. Locations of the drill holes are shown on the attached map.
Assay Highlights from the current release of McGarry Surface Drill Data
(See attached table for full table of assay results and notes)
| DDH AR-11-05 | 0.25 oz/t (8.6 g/t) gold over 2.8 ft |
Quality Control and Quality Assurance Process
Armistice maintains procedures for Quality Control and Quality Assurance. These procedures include sawing the core in half and retaining half for archive reference. The other half is assayed using standard fire assay techniques with AA finish. For every 20 samples submitted for assay, one sample is quarter sawn and each quarter is submitted to separate labs for independent analysis. All samples assaying over 0.10 oz/t are re-assayed and average is used. For each 20 samples submitted, one blank is also submitted for control. All samples are sent to PolyMet Labs, Cobalt, Ontario, and Swastika Labs, Swastika, Ontario, both being recognized independent assay laboratories.
Qualified Person
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, began hoisting and stockpiling operations in December 2011 from its McGarry gold mine in the Kirkland Lake area of northeastern Ontario. The McGarry Mine is located in Virginiatown on the prolific Larder Lake-Cadillac Break that extends 200 km east-west straddling the Ontario and Quebec border and that has produced 95 million ounces of gold. The McGarry Mine is adjacent to the Kerr-Addison Gold Mine that produced more than 11 million ounces of gold. Armistice has signed a definitive five-year option agreement for the purchase of up to 100 percent of the mineral rights on the Kerr-Addison property. 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, including its installed mining plant. Armistice Resources is listed on the Toronto Stock Exchange (Symbol: AZ) and currently has 185,810,971 common shares issued and outstanding. To find out more about Armistice Resources, please visit the company's website at www.armistice.ca.
Forward-Looking Statements
This news release may contain forward-looking statements, including current expectations regarding exploration programs as well as on the timing of the commencement of production, the rate of production, and plans for gold sales 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; and 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. Investors 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.
| Target Area | Drill Hole | Azimuth (deg.) |
Dip at Collar (deg.) |
Length of Hole (feet) |
From (feet) |
To (feet) |
Interval (feet) |
Grade (oz/t) |
Grade (g/t) |
|||||||||||||||
| Kerr Mill Zone | KA-11-01 to KA-11-22 |
Previously Reported - December 8, 2011 | ||||||||||||||||||||||
| KA-11-23 | 290 | -48 | 1500 | No Significant Assays | ||||||||||||||||||||
| KA-11-24 | 291 | -58 | 1549 | No Significant Assays | ||||||||||||||||||||
| KA-11-25 | 290 | -46 | 180 | No Significant Assays - hole abandoned before reaching target | ||||||||||||||||||||
| KA-11-25A | 291 | -50 | 1280 | 98.0 | 106.0 | 8.0 | 0.20 | 6.9 | ||||||||||||||||
| 240.0 | 250.0 | 10.0 | 0.08 | 2.7 | ||||||||||||||||||||
| Incl. | 246.0 | 248.0 | 2.0 | 0.15 | 5.1 | |||||||||||||||||||
| 951.0 | 955.0 | 4.0 | 0.13 | 4.5 | ||||||||||||||||||||
| 1027.0 | 1032.0 | 5.0 | 0.09 | 3.1 | ||||||||||||||||||||
| KA-12-26 | 279 | -54 | 1890 | 101.0 | 111.0 | 10.0 | 0.07 | 2.4 | ||||||||||||||||
| Incl. | 106.0 | 108.0 | 2.0 | 0.15 | 5.1 | |||||||||||||||||||
| 1854.0 | 1858.0 | 4.0 | 0.09 | 3.1 | ||||||||||||||||||||
| KA-12-27 | 288 | -64 | 1611 | 131.0 | 135.0 | 4.0 | 0.10 | 3.4 | ||||||||||||||||
| KA-12-28 | 282 | -42 | 1580 | 199.1 | 201.5 | 2.4 | 0.10 | 3.4 | ||||||||||||||||
| KA-12-29 | 282 | -57 | 2336 | 232.0 | 236.3 | 4.3 | 0.08 | 2.7 | ||||||||||||||||
| 272.0 | 282.2 | 10.2 | 0.06 | 2.1 | ||||||||||||||||||||
| 302.0 | 304.0 | 2.0 | 0.14 | 4.8 | ||||||||||||||||||||
| 1846.9 | 1855.3 | 8.4 | 0.90 | 30.9 | ||||||||||||||||||||
| KA-12-30 | 283 | -65 | 1630 | 357.7 | 369.1 | 11.4 | 0.08 | 2.7 | ||||||||||||||||
| Incl. | 362.5 | 365.2 | 2.7 | 0.13 | 4.5 | |||||||||||||||||||
| KA-12-31 | 281 | -45 | 1798 | 433.3 | 435.5 | 2.2 | 0.09 | 3.1 | ||||||||||||||||
| 978.6 | 982.0 | 3.4 | 0.09 | 3.1 | ||||||||||||||||||||
| KA-12-32 | 281 | -56 | 2580 | 740.0 | 743.8 | 3.8 | 0.10 | 3.4 | ||||||||||||||||
| 754.3 | 759.6 | 5.3 | 0.10 | 3.4 | ||||||||||||||||||||
| 1044.5 | 1055.0 | 10.5 | 0.07 | 2.4 | ||||||||||||||||||||
| 1116.0 | 1130.0 | 14.0 | 0.09 | 3.1 | ||||||||||||||||||||
| 1884.7 | 1887.4 | 2.7 | 0.11 | 3.8 | ||||||||||||||||||||
| KA-12-33 | 267 | -78 | 1470 | Awaiting assay results | ||||||||||||||||||||
| KA-12-34 | 107 | -79 | 1510 | Awaiting assay results | ||||||||||||||||||||
| East Chesterville | EC-11-01 | 289 | -46 | 922 | 150.0 | 162.5 | 12.5 | 0.09 | 3.1 | |||||||||||||||
| 216.0 | 220.0 | 3.1 | 0.11 | 3.8 | ||||||||||||||||||||
| EC-11-02 | 286 | -60 | 940 | 63.5 | 65.5 | 2.0 | 0.14 | 4.8 | ||||||||||||||||
| 144.8 | 148.5 | 3.7 | 0.10 | 3.4 | ||||||||||||||||||||
| 592.0 | 608.4 | 16.4 | 0.08 | 2.7 | ||||||||||||||||||||
| EC-11-03 | 286 | -70 | 1771 | 93.9 | 102.0 | 8.1 | 0.08 | 2.7 | ||||||||||||||||
| 160.0 | 165.0 | 5.0 | 0.08 | 2.7 | ||||||||||||||||||||
| 199.6 | 217.5 | 17.9 | 0.08 | 2.7 | ||||||||||||||||||||
| EC-11-04 | 287 | -63 | 1300 | No Significant Assays | ||||||||||||||||||||
| EC-11-05 | 299 | -45 | 650 | 27.0 | 40.0 | 13.0 | 0.09 | 3.1 | ||||||||||||||||
| EC-11-06 | 299 | -55 | 789 | 36.7 | 57.5 | 20.8 | 0.07 | 2.4 | ||||||||||||||||
| 100.0 | 109.3 | 9.3 | 0.07 | 2.4 | ||||||||||||||||||||
| EC-11-07 | 296 | -65 | 1450 | No Significant Assays | ||||||||||||||||||||
| EC-11-08 | 154 | -46 | 1012 | 340.0 | 341.6 | 1.6 | 0.10 | 3.4 | ||||||||||||||||
| 348.9 | 350.6 | 1.7 | 0.13 | 4.5 | ||||||||||||||||||||
| 380.0 | 381.2 | 1.2 | 0.17 | 5.8 | ||||||||||||||||||||
| 386.3 | 388.0 | 1.7 | 0.16 | 5.5 | ||||||||||||||||||||
| EC-11-09 | 154 | -53 | 1220 | 193.0 | 198.0 | 5.0 | 0.15 | 5.1 | ||||||||||||||||
| EC-11-10 | 152 | -65 | 1330 | 15.4 | 20.0 | 4.6 | 0.14 | 4.8 | ||||||||||||||||
| Green Giant | GG-11-01 | 73 | -48 | 1423 | 1168.0 | 1171.3 | 3.3 | 0.07 | 2.4 | |||||||||||||||
| GG-11-02 | 89 | -46 | 1080 | 654.9 | 658.5 | 3.6 | 0.26 | 8.9 | ||||||||||||||||
| GG-11-03 | 88 | -60 | 1180 | 1148.8 | 1153.7 | 4.9 | 0.59 | 20.2 | ||||||||||||||||
| 1177.8 | 1178.4 | 0.6 | 0.16 | 5.5 | ||||||||||||||||||||
| GG-11-04 | 88 | -70 | 1391 | No Significant Assays | ||||||||||||||||||||
| GG-11-05 | 177 | -57 | 1620 | No Significant Assays - only partial assay data available | ||||||||||||||||||||
| GG-11-06 | 144 | -50 | 652 | 456.0 | 460.0 | 4.0 | 0.18 | 6.2 | ||||||||||||||||
| 476.3 | 478.2 | 1.9 | 0.25 | 8.6 | ||||||||||||||||||||
| GG-11-07 | 147 | -59 | 722 | 719.0 | 721.7 | 2.7 | 0.20 | 6.9 | ||||||||||||||||
| GG-11-08 | 144 | -70 | 940 | No Significant Assays | ||||||||||||||||||||
| GG-11-09 | 123 | -50 | 618 | 512.0 | 514.0 | 2.0 | 0.21 | 7.2 | ||||||||||||||||
| GG-11-10 | 124 | -58 | 746 | No Significant Assays | ||||||||||||||||||||
| GG-11-11 | 117 | -69 | 835 | No Significant Assays | ||||||||||||||||||||
| GG-11-12 | 108 | -50 | 740 | No Significant Assays | ||||||||||||||||||||
| GG-11-13 | 107 | -61 | 940 | 707.0 | 711.0 | 4.0 | 0.17 | 5.8 | ||||||||||||||||
| GG-11-14 | 106 | -70 | 1057 | No Significant Assays | ||||||||||||||||||||
| Vtown | VT-11-01 | 280 | -46 | 869 | No Significant Assays | |||||||||||||||||||
| VT-11-02 | 281 | -55 | 1430 | No Significant Assays | ||||||||||||||||||||
| VT-11-03 | 283 | -48 | 1047 | 444.0 | 454.0 | 10.0 | 0.09 | 3.1 | ||||||||||||||||
| Incl. | 444.0 | 446.2 | 2.2 | 0.22 | 7.5 | |||||||||||||||||||
| VT-11-04 | 283 | -60 | 653 | No Significant Assays | ||||||||||||||||||||
| VT-11-05 | 281 | -59 | 1312 | 835.0 | 845.0 | 10.0 | 0.26 | 8.9 | ||||||||||||||||
| Incl. | 835.0 | 837.0 | 2.0 | 1.12 | 38.4 | |||||||||||||||||||
| VT-11-06 | 328 | -48 | 1243 | 421.0 | 426.0 | 5.0 | 0.74 | 25.4 | ||||||||||||||||
| VT-11-07 | 331 | -66 | 161 | Abandoned before reaching target | ||||||||||||||||||||
| VT-11-08 | 328 | -50 | 1106 | No Significant Assays | ||||||||||||||||||||
| VT-11-09 | 328 | -64 | 929 | No Significant Assays | ||||||||||||||||||||
| VT-11-10 | 384 | -51 | 1480 | No Significant Assays | ||||||||||||||||||||
| VT-11-11 | 96 | -61 | 948 | No Significant Assays | ||||||||||||||||||||
| McGarry Surface | AR-11-01 | 92 | -48 | 1374 | No Significant Assays | |||||||||||||||||||
| AR-11-02 | 78 | -54 | 1382 | 448.1 | 452.8 | 4.7 | 0.06 | 2.1 | ||||||||||||||||
| Incl. | 448.1 | 448.8 | 0.7 | 0.12 | 4.1 | |||||||||||||||||||
| AR-11-03 | 99 | -49 | 149 | No Significant Assays | ||||||||||||||||||||
| AR-11-04 | 64 | -43 | 1303 | No Significant Assays | ||||||||||||||||||||
| AR-11-05 | 66 | -55 | 1322 | 372.2 | 375.0 | 2.8 | 0.25 | 8.6 | ||||||||||||||||
| AR-11-06 | 65 | -65 | 1024 | No Significant Assays | ||||||||||||||||||||
| AR-11-07 | 98 | -43 | 899 | No Significant Assays | ||||||||||||||||||||
| AR-11-08 | 64 | -58 | 1114 | No Significant Assays | ||||||||||||||||||||
| AR-11-09 | 308 | -59 | 632 | 612.0 | 613.5 | 1.5 | 0.21 | 7.2 | ||||||||||||||||
| AR-11-10 | 306 | -70 | 263 | No Significant Assays - hole abandoned before reaching target | ||||||||||||||||||||
| AR-11-10A | 306 | -70 | 1376 | No Significant Assays | ||||||||||||||||||||
| AR-11-11 | 348 | -50 | 711 | No Significant Assays | ||||||||||||||||||||
| AR-11-12 | 322 | -48 | 1001 | No Significant Assays | ||||||||||||||||||||
| AR-11-13 | 323 | -60 | 981 | No Significant Assays | ||||||||||||||||||||
| AR-11-14 | 321 | -71 | 1024 | No Significant Assays | ||||||||||||||||||||
| AR-11-15 | 296 | -51 | 997 | 801.2 | 803.2 | 2.0 | 0.09 | 3.1 | ||||||||||||||||
| AR-11-16 | 300 | -61 | 1262 | No Significant Assays | ||||||||||||||||||||
| Note: | Azimuths for AR Series Holes are relative to McGarry mine grid - add 25 degrees for true bearings. | ||||
| Azimuths for KA, EC, GG and VT Series Holes are relative to True North (Kerr Mine Grid). | |||||
| 1 oz/t = 34.286 g/t | oz/t = Troy ounces per short ton (2000 pounds) | ||||
| g/t = grams per metric ton (tonne) | |||||
| All reported intersections are measured along the drill core length. There is insufficient data to interpret true widths of the gold zones encountered. |
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PDF available at: http://stream1.newswire.ca/media/2012/07/09/20120709_C6956_DOC_EN_16113.pdf
President, CEO and Chairman
Todd J. Morgan
Armistice Resources Corp.
Email: [email protected]
(705) 567-4567
Investor and Media Relations
Richard W. Wertheim
Wertheim + Company Inc.
Email: [email protected]
416-594-1600
416-518-8479 (cell)
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