Archer Exploration Limited Eyre Peninsula Graphite Project achieves further milestone
10.03.2015 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Archer Exploration Ltd. (ASX:AXE) is pleased to announce that it has achieved another milestone in the development of the Company's Campoona and Sugarloaf graphite projects:Three groundwater monitoring bores (piezometers) were installed at the proposed Sugarloaf Processing site (Figure 1) to finalise inputs into the site design. No ground water aquifers were intersected during drilling of monitoring bores meaning that approvals for tailing storage facility will be simplified. Long term supply of process water for Sugarloaf has been secured. Mining Lease Proposal to be lodged in April 2015.Archer's Managing Director, Gerard Anderson commented, "this is another milestone in the development of our Eyre Peninsula Graphite Project"."We look forward to lodging our Mining Lease Proposal next month as momentum builds for the development of the Campoona Mine and Sugarloaf Processing Facility" said Mr Anderson."Being able to secure process water and a suitable tailings storage facility site supports our initial mine plans and our longer-term potential to expand the Campoona and Waddikee Projects. The ability to locate the Tailings Storage Facility without interfering with aquifers and the presence of a long term supply of process water are significant advantages for the development of the Campoona project" said Mr Anderson.
Mining Lease Proposal Advances with Tailings Storage Facility Groundwater monitoring in place Three groundwater monitoring bores (piezometers) were installed at the proposed Sugarloaf Processing site (Figure 1 link below) to finalise inputs into the site design.The proposed Sugarloaf Processing Facility is located on the Company owned Sugarloaf property which hosts the Sugarloaf Graphite Deposit. As a part of the Mining Lease Proposal (MLP) the Company has installed 3 piezometer bores for future tailings storage monitoring.
Figure 2 (link below) shows the location of the bores in relation to the Tailings Storage Facility (TSF), two additional holes were drilled to understand the soil profile below the proposed TSF.No water was encountered in the construction of the bores.Process WaterProcess water for the Sugarloaf graphite processing facility will be sourced from the nearby Pindari aquifer. Previously two holes were drilled to depths of 121 and 91m to test for flow rates and water quality as a source of water for graphite processing at Sugarloaf. The 121m deep hole was established as a future production bore. Pump testing demonstrated that the single production bore provided a sustainable yield of water of 52ML/year over a 20-year period. Water quality is 22,500 TDS which is ideal for process water but too salty, being two thirds as salty as seawater, for agricultural purposes.
Approximately 100ML/yr of process water will be required to process up to 140,000tpa of Campoona graphite ore. An additional production abstraction bore is to be constructed at the Pindari borefield during March. The second production bore is located 800 metres southwest of the existing bore and is expected to have similar long-term production capacity.
MLP Lodgment Compilation of the Mine Lease Proposal is well advanced and is currently being finalized with respect to the Mine Plan and the Mine Closure Plan. Archer expects that the Mine Lease Proposal will be lodged during the second quarter of 2015.To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-847478.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:
Mr Greg English, Chairman
Archer Exploration Ltd.
Tel: (08) 8205 3343
Mr Gerard Anderson, Managing Director
Archer Exploration Ltd.
Tel: (08) 8272 328