Armistice Resources has awarded a $4-million contract to Dynatec Mining for the rehabilitation of the Armistice Exploration shaft on the company’s Sheldon-Larder property in northwestern Ontario.
The contract includes an option for $8.3 million to deepen the shaft to 2,825 ft from the 1,275-ft level to the 4,100-ft level. Work on the project will begin immediately and completion of the first phase is expected in February, 1988, which will allow Armistice to re-examine previous workings on the 1,250-ft level.
The shaft deepening is planned to explore a favorable area indicated by deep diamond drilling in 1974. A proposed level at 4,000 ft would allow drifting along the indicated flow zone and provide drilling stations for deeper exploration drilling.
Armistice plans to apply for an Ontario Mineral Exploration Program grant to assist development of the property.
The initial phase of the contract involves dewatering, installation of surface facilities, erection of a headframe and rehabilitation of the Armistice shaft. The second phase involves deepening the shaft to 4,100 ft, followed by a third phase of deep drilling.
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