RE: Armistice Results Situated within the highly prolific Larder Lake Mining Division, the McGarry Project adjoins the past-producing Kerr Addison Mine property to the west. Production from the Kerr Addison Mine totalled approximately 12 million ounces of gold from 41 million tons of ore over its 58 year operating life. Armistice has identified a mineralized system at a depth of 2,200 feet on the McGarry Project, which is geologically identical to that of the adjacent Kerr Addison property. The Company believes that the mineralized system on the Project represents either a duplicate of, or a downfaulted extension of the Kerr Addison system. As a result, Armistice believes that the McGarry Project has the potential of hosting an extensive gold bearing system similar to that occurring at the Kerr Addison Mine, but extending to greater depth
.
From 1985 to 1989, Armistice has spent in excess of $30 million on exploration and development of the McGarry Project. This has included the deepening of the shaft, enlargement and refurbishment of the shaft to bring it up to production capacity, installation of a mining plant to sustain production to 4,000 feet, the completion of approximately 10,000 feet of underground development and over 250,000 feet of exploration drilling. Based on the results of the exploratory underground diamond drilling programs, a total drill indicated resource of 433,981 tons grading 0.25 ounces of gold per ton, or 108,495 ounces of contained gold, has been estimated to a depth of 2,600 feet on the Project.
Not a lot of compliant or proven resource, but hopefully a mother load to come,as they feel the trends should be identical to their next door nieghbours which mined 12 million ounces. I hope they an find the other 11.9 millions. Only have 20,000 shares as I am waiting for the resourse/drilling results more than the "first bar poured". Joe