- Company now has 3,000 tons of ore on surface and 3,000 tons underground ready for processing
- New double-skipping loading pocket installed on 2250 level
- Excavation of underground maintenance facilities
- Improved shaft bottom dewatering sump
TORONTO, Dec. 11, 2012 /CNW/ - Armistice Resources Corp. (TSX: AZ) , operator of the McGarry gold mine in Ontario's Kirkland Lake area, today reported that it has completed additional key infrastructure aimed at improving production efficiency on the 2250 Level.
"Our dedicated team has made extensive progress by focusing attention on completing a number of very important infrastructure installations as we aim for commercial production in the new year," said Todd J. Morgan, chief executive officer and president. "The objective of these construction projects is to be pre-emptive by eliminating potential bottlenecks in the production process. As a result of these components, we now have hoisted approximately 3,000 tons of broken ore to surface with an additional 3,000 tons underground.
Some of the ongoing developments include the following.
2250 Shaft Loading Pocket - Double-Skipping Capable
Armistice has made serviceable the 2250 Level station on the east side of the shaft. The company has installed a new loading pocket on the 2250 Level and it is now fully capable of skipping ore and waste in both compartments. The completion of the grizzly installation and loading chute has effectively doubled the mine's capability for the skipping of ore and waste.
Underground 2250 Level Maintenance Infrastructure
All the excavation work for the new maintenance shop facilities, the wash bay, and the fuel bay on the 2250 Level is now complete. Final touch up shotcreting of the main shop and the establishment of concrete floors remains in these areas. Once completed, excellent maintenance facilities for mobile and drilling equipment will be available underground.
Improvements to Secondary Underground Sump System
As part of the ongoing improvements to the dewatering system that feeds the main sump on the 2250 Level, secondary sumps have been installed in the 325N stoping area and the shaft bottom. These secondary sumps will reduce the amount of suspended solids which would otherwise report to the mains sumps. The new sumps are designed for easy removal of collected fines produced by the normal activity in the mine. This installation will be an important feature to control additional solids and fines generated from increased production work.
About Armistice Resources Corp.
Armistice Resources, a Canadian-based exploration and development company, is the operator of the McGarry gold mine in Ontario's Kirkland Lake area. 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 property that produced from 1938 to 1996 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 also owns the mineral rights for 18 mining claims totaling 627 acres (the Barber-Larder Property) located contiguous to the western boundary of the McGarry Mine. Armistice Resources is listed on the Toronto Stock Exchange (Symbol: AZ) and has 221,528,971 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.