Armory Mining Corp. (ARMY:CSE; RMRYF:OTC; J2S:FRA) reported that it has acquired historical geological data for its Riley Creek antimony-gold project in British Columbia and plans to conduct a detailed analysis using modern interpretation methods and advanced software. The company stated that it anticipates commencing the data review immediately and intends to begin its previously stated work within the next 90 days.
According to the company, the dataset includes results from a 1995 airborne geophysical survey conducted by Dighem, which incorporated magnetometer, electromagnetic, and radiometric data. The survey covered approximately 575 line kilometers using east-west-oriented flight lines spaced at 100-meter intervals. The original 1997 interpretation identified 11 areas of interest based on geophysical anomalies and structural complexity, including multiple fault systems, potential intrusive contacts, radiometric anomalies, and electromagnetic conductors that warranted follow-up ground evaluation.
The company stated that it plans to digitize and analyze the complete dataset using current processing algorithms and interpretation techniques that were not available at the time of the original survey. Advances in geophysical software now allow for enhanced data filtering, three-dimensional modeling, and integration of multiple datasets.
"By applying modern processing techniques to this high-quality dataset, we believe it will yield valuable insights and assist us in identifying priority drill targets," said Alex Klenman, Chief Executive Officer, in the news release. "With planning underway for phased exploration at our Ammo antimony-gold project, and with this analysis program at Riley Creek expected to begin within the next 60 days, we continue to advance our projects and prepare for more comprehensive exploration programs over the coming year," he added.
The Riley Creek project is located on Graham Island in the Queen Charlotte Islands, British Columbia, and is accessible year-round via logging roads from Port Clements and Daajin Giids. The regional geology includes Jurassic Yakoun Formation sedimentary rocks, Tertiary Masset Formation volcanic flows and pyroclastics, and Tertiary plutonic intrusions of the Kano suite.
Data Reprocessing, Exploration Planning, and Project-Level Work Programs
The company indicated that it will begin digitizing and reprocessing the Riley Creek geophysical dataset using modern software and interpretation techniques. This work is expected to commence immediately, with the analysis program anticipated to begin within the next 60 days.
Armory stated that it intends to start its previously outlined work programs within the next 90 days, following the completion of the data review process. The reprocessing effort is designed to apply updated algorithms, enhanced filtering, and three-dimensional modeling to refine geological understanding and support drill targeting.
Streetwise Ownership Overview*
Armory Mining Corp. (ARMY:CSE; RMRYF:OTC; J2S:FRA)
Planning is also underway for phased exploration at the company's Ammo antimony-gold project. According to the company's investor presentation, phase one of the Ammo work program is expected to include prospecting and reconnaissance to identify favorable geology, followed by detailed surface sampling and geophysics to assist in determining priority drill targets.
The presentation stated that Armory planned to budget up to CA$500,000 for the initial phase of exploration at Ammo, with additional details to be provided as planning progresses.
Ownership and Share Structure 1
0.65% of Armory Mining is held by management and insiders. The rest is retail.
As of March 27, Armory Mining Corp. had approximately 69.9 million shares outstanding and a market capitalization of about CA$2.45 million. The company's 52-week trading range was approximately CA$0.03 to CA$0.17.
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Important Disclosures:
- Armory Mining Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Armory Mining Corp.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
