Archer Exploration Limited - Quarterly Activities Report
30.10.2013 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Archer Exploration Ltd. (ASX:AXE) (FRA:38A) announce the Quarterly Activities Report for the Period ended 30th September 2013 with the following highlights for the quarter:CAMPOONA METALLURGY
12 kilograms of concentrates for marketing purposes have been produced and are pending re-cleaning.
The production of the marketing concentrates and the re-cleaning was delayed due to key personnel involved in the metallurgical evaluation becoming unavailable for extended periods.
Marketing efforts for Campoona concentrates has commenced and samples are being prepared for assessment.
High grade graphite concentrate grades from bench-scale testing are repeatable for all three geological horizons of the deposit, representing from surface to the base of current drill coverage at 100 metres depth.
Outstanding fine crystalline natural graphite concentrate grading 95 - 98% C achieved from mechanical cell flotation. Recleaning of concentrates has enabled concentrates grading to 99.4% C.
Further improvements in recovered grades are likely as various upgrading techniques still remain to be tested.
CAMPOONA LAND PURCHASE
Archer entered into a legally binding Heads of Agreement for the purchase of land at Campoona Shaft ("Campoona Property") which hosts the Company's Campoona Shaft Graphite Project.
MINING LEASE PROPOSAL AND PEPR
A winter ecological survey was completed for both Campoona and Sugarloaf during the period. Archer has completed spring and winter surveys required as part of the future Mining Lease Proposal and PEPR.
A Community Consultation Plan was completed and consultation commenced.
PERSONNEL
The Managing Director's contract was renewed for a three-year term from 1 July 2013.
Campoona Project moving to marketing phase. Dr David Lock to move from full-time to consultancy role.
FINANCIAL
Cash in bank on 30th September 2013 of $7.8 million. $565,000 was spent on exploration and project evaluation during the quarter.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-763970.pdf
About Archer Exploration Limited:
Archer Exploration Ltd. (ASX:AXE) is a graphite, magnesite, copper, gold and manganese explorer focused on the discovery of world-class ore deposits.
The company has carefully acquired a portfolio of projects, covering an area in excess of 5300 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the Company.
Archer also has earned the right to 100% of minerals other than uranium on EL4693 Wildhorse Plain located near Cleve on Eyre Peninsula.
The Company's flagship Campoona and Sugarloaf graphite deposits occur in the Cleve district where the Company has tenure of 933km2 in the emerging graphite province.
Archer Exploration Ltd. has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.
Contact:
Archer Exploration Ltd.
T: +61-8-8272-3288
WWW: www.archerexploration.com.au