Archer Exploration Limited: Drilling Extends Wilclo South Graphite Deposit
09.02.2015 | ABN Newswire
Perth, Australia (ABN Newswire) - Archer Exploration Ltd. (ASX:AXE) owns largest JORC 2012 graphite resource with 8.55Mt @ 9.0 Cg% (5% lower cut- off grade). Wilclo South is an important deposit for Archer as it hosts high quality flake graphite and accounts for most of this resource with 6.38 Mt @ 8.8 Cg% (5% lower cut- off grade) - ref: ASX announcement 6 August 2014.Strong potential for resource expansion at Wilclo South
- Archer exploration owns Australia's largest JORC 2012 graphite resource and scout drilling has provided strong encouragement for future resource expansion
- 6 Reverse Circulation step out drill holes were completed for 519m at Wilclo South in December 2014
- The drilling extended the known Wilclo South mineralisation by 1.1 km - almost doubling the previously recorded strike length
- Scout drilling confirmed continuity of the graphite mineralisation and recorded mostly large flake graphite
- Wilclo South sits on a very prominent EM anomaly that extends for at least 11 kilometres and is Archer's single largest JORC 2012 resource
In December 2014 as part of a larger scout drilling programme, a number of step-out drill holes were completed south of the known Wilclo South graphite mineralisation.
The drilling at Wilclo South extended the drilled portion of the >11km long EM anomaly by 1.1 km and provided further evidence that the large flake characteristics of the graphite extends to at least this distance along the anomaly.
The deposit remains open to the north and south for several kilometres.
Wilclo South
A total of 6 holes were drilled (Table 1, Figure 1 in link below) to identify if flake graphite extended to the south of the Wilclo South Resource area (strike of 1.4km). The drilling successfully intersected the same geological host rock sequences and flake bearing graphitic horizons. As expected, the higher grade (>10% Cg) intervals were repeated supporting the 1.1km extension of the mineralisation (Table 2).
About the Waddikee Tenement
Waddikee EL4662 is located between the townships of Cleve and Kimba on Central Eyre Peninsula (Figure 1). The 999km2 tenement is situated immediately north of Archer's main graphite interests on EL4693 Wildhorse Plain.
Waddikee has a number of graphite prospects that have been evaluated using combinations of geophysics (airborne magnetic and electromagnetic surveys), rock chip sampling and detailed petrology. Wilclo South which has a strong EM anomaly has been the focus of most of the previous drilling campaigns and the most successful within this tenement to date.
To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-841558.pdf
About Archer Exploration Limited:
Archer Exploration Ltd. (ASX:AXE) is an Australian Stock Exchange listed company with 100% ownership of 15 tenements and one Exploration Licence Application all in South Australia covering 6,053 km2.
Archer also has the rights to all minerals other than uranium on EL4693 covering a further 816 km2. Archer's main project is the Campoona Graphite Project which is located within reach of established and major developing infrastructure. It has a JORC 2004 Resource of 5.27 million tonnes @ 7.6 % TC (based on 2% TC cut-off)
Contact:
Archer Exploration Ltd.
Mr Greg English, Chairman
Tel: (08) 8205 3343
Mr Gerard Anderson
Managing Director
Tel: (08) 8272 3288