Archer Exploration Limited: Quarterly Activities Report
28.01.2016 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Archer Exploration Ltd. (ASX:AXE) announce the Quarterly Activities Report for the period ending 31 December 2015.DECEMBER 2015 QUARTER HIGHLIGHTS
GRAPHITE
- Pegging and applying for the Mineral Claim over Campoona Shaft and two miscellaneous purpose licences covering the Sugarloaf processing facility and Pindari wellfield and water pipelines have been completed and are awaiting submission.
- Campoona Mining Lease Proposal to be amended to include small-scale start-up operation to allow for product accreditation phase and the incorporation of the production of graphene.
- ELA 2015/00215 Cockabidnie granted covering extensions to Central Campoona graphite deposit and Sugarloaf carbon deposit<
- Micronising and battery test program established and set to commence January 2016.
GRAPHENE
- In collaboration with the University of Adelaide, Archer confirmed the ability of Campoona graphite concentrates to produce pure graphene (>99.9%) with outstanding electrical properties that could be used in high-tech applications.
- Archer's highly concentrated graphite (>99%) will allow for more efficient scalable graphene production compared with graphene sourced from lower grade graphite.
LEIGH CREEK MAGNESITE
- Positive discussions with third parties regarding access to infrastructure required for the development of the Leigh Creek Magnesite Project.
WONNA GOLD
- Rock chip sampling of stockwork quartz veins at Wonna (Napoleon's Hat) returned anomalous gold to 8.8 g/t Au.
SPRING CREEK COPPER
- Plans to drill a series of diamond drill holes to test for shallow extensions to the high grade underground copper lodes have been reviewed by SA Water.
FINANCIAL
- Cash in bank on 31st December 2015 of $1.06 million
- $254,000 was spent on exploration and project evaluation during the quarter.
To view the Summary of December 2015 Quarter Exploration Activities, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-903301.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. <br /><br />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.
T: +61 8 8272 3288
E: info@archerexploration.com.au
www.archerexploration.com.au