Armistice Resources (ACI-M) has retained Roscoe Postle Associates to conduct an independent review of exploration results from the Virginiatown gold property near Larder Lake, Ont.
The junior says its 1997 program “demonstrated beyond reasonable doubt that the downfaulted continuation of the highly productive mineralized system of the [neighboring] Kerr-Addison mine occurs on the Armstice property at a depth of about 3,000 ft. below surface.”
The company’s 1997 drilling totalled 96,600 ft. Based on results from this widely spaced drilling, the company’s consulting engineer estimated a resource of 4.2 million tons grading 0.2 oz. gold per ton to a depth of 5,600 ft. below surface. Drilling continues to test the mineralized Kerr formation at depth. The program also will define gold zones in the vicinity of the 2,250-ft. level, some 2,000 ft. west of the shaft.
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