Armistice aims to boost reserves

Interim results of underground drilling at the Sheldon-Larder property suggest there is potential to increase re-serves substantially, says owner Armistice Resources (ME).

So far, about 8,000 ft. have been drilled from the 1,650-ft. and 2,050-ft. underground levels in an effort to test three gold zones: 100N, 185N and 260N. Current reserve figures stand at 242,224 tons grading 0.175 oz. gold per ton above the 2,250-ft. level, the base of the existing shaft.

Drilling in the 185N zone, from which a bulk sample had yielded a recovered grade of 0.2 oz. per ton (T.N.M., Oct. 9/95), has confirmed grade and tonnage estimates. A higher-grade core zone was intersected from the 1,650-ft. level in the 185N zone, indicating that the higher-grade material extends upward at least 300 ft.

Two holes were drilled into the 260N zone, one from each level. The hole from the 1,650-ft. level intersected the zone over a true width of 14 ft., grading 0.297 oz. gold per ton. The deeper hole cut an intersection with a true width 10.2 ft. and an average gold grade of 0.108 oz. per ton. The upper-level intersection indicates that the zone may be continuous for some 400 vertical feet above previously interpreted limits.

The third zone, 100N, has been intersected in several holes and has delivered grades ranging from 0.05 to 0.253 oz. per ton over widths of about 10 ft. Again, intersections from the higher level indicate that the zone may extend higher than previously thought.

Armistice plans a further 12,000 ft. of drilling in this phase of exploration.