Work at Larder Lake, Hemlo planned by Armistice Res.

Armistice Resources plans a 3,000-ft diamond drill program this winter on its Sheldon-Larder property adjoining the west boundary of the Kerr Addison mine at Virginiatown, Ont.

Armistice says it will also this year conduct magnetometer and IP surveys on its 100%-owned Hemlo, Ont.-area property, to investigate targets outlined by earlier airborne geophysics and groundwork.

The work in both areas will be financed by the proceeds from a private placement flow-through share issue. In December last year, Armistice raised $161,850 from the sale of 249,000 flow-through shares, with a warrant to purchase one Armistice share at 75 cents to May 2, attached to each flow-through share sold.

Object of the drilling on the Sheldon-Larder property is to extend the mill zone a possible 1,700 ft to the western boundary of the property.

Drilling is also planned on the north mill zone. Work on both areas has reported visible gold and minor assay results.

The company is also evaluating the possibility of deepening the Armistice shaft from 1,275 ft to a total depth of 3,360 ft in order to explore a gold-bearing zone indicated by deep drilling in 1974.

In Manitoba, Armistice holds a 1.47% royalty interest in 15 claims in the Elbow Lake area in the northern part of the province, and Homestake Mineral Development, which holds an option on the claims, plans to drill several holes in late January on the Orenda claim group.