Fifth hole returns positive gold values, Armistice reports

Underground hole 22W900-4, between 3,200 ft and 3,400 ft below surface, returned 0.19 oz gold per ton over 9 ft and 0.08 oz over 5.2 ft.

The Armistice deep-drilling program is aimed at testing the theory the orebody of the adjacent Kerr Addison mine downfaulted at its western boundary, and is continued on to the Armistice property at a greater depth.

According to Armistice, the above intersections correlate with the Kerr Addison mine’s numbers for the latter’s 21 and 16 ore zones, where gold values increase down plunge and at depth.

The drilling is taking place from the 2,250-ft level. Four holes drilled earlier into the Kerr zone intersected a range of values, from 0.065 oz over 10.3 ft to 0.08 oz over 13.6 ft. The company says results to date indicate the Kerr zone is located on the Armistice property more to the west and slightly deeper than was initially believed.

The gold values, Armistice reports, are within a flow horizon where gold is associated with the pyrite content. The zone is open to the west and at depth.

Meanwhile, the company reports underground hole 22W700-1, drilled from the 2,250-ft level to test the 100N zone, cut 4.85 oz over 8.5 ft. Several holes drilled from the 1,250-ft, 1,850-ft and 2,250-ft levels have cut this zone; values intersected range from 0.04 oz over 27.6 ft to 0.41 oz over 6 ft. The zone is open to the west and vertically.

In a private placement with NIM & Company 1989, Armistice sold $600,000 worth of flow-through shares consisting of 974,817 shares at 61.55 cents each.

]]>