Archer Exploration Ltd.: New ELA Extends Carbon and Graphite Zones
29.01.2016 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Archer Exploration Ltd. (ASX:AXE) is pleased to announce that it has been notified by the SA Department of State Development that the Company's application for a southern extension of Sugarloaf has been successful (ELA 2015/215). The tenement area contains known graphite outcrops so was the subject of competing applications, with Archer's application being selected by the Mineral Exploration Assessment Panel.Highlights
- Archer has successfully applied for new tenement adjacent to existing project areas
- The new area covers known extensions to Sugarloaf and Central Campoona
- Sugarloaf agricultural and soil remediation testing is continuing
- The Central Campoona extension is expected to provide an additional source of high purity, battery grade graphite
Previous exploration by others over the area of the application has identified numerous graphite outcrops and extensions to Central Campoona and Sugarloaf. Archer is confident that upon the grant of the tenement and the completion of early stage exploration that the Company will be able to substantially increase the size of Sugarloaf.
The Sugarloaf project is located on the Company's own farm and next to its proposed graphite processing plant near Cleve on central Eyre Peninsula where a hub of graphite deposits is being developed by Archer to supply the global battery market.
About Sugarloaf
Testing by Archer has shown that Sugarloaf is not a typical crystalline graphite deposit but a unique form of carbon. Sugarloaf carbon has no defined crystal habit and hence the term Sugarloaf carbon now more accurately describes the deposit's gross mineral composition. Chemically, Sugarloaf carbon contains <15 % carbon, >50% silica and multiple trace elements in its bulk structure.
Drilling by Archer at Sugarloaf has supported an Exploration Target of 40 - 70 million tonnes at a grade of 10 -12% TC. (It must be noted that whilst the Exploration Target is large, the potential quantities and grades presented in the Exploration Target are conceptual in nature, there has been insufficient exploration to define an overall Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource).
Archer previously reported (refer to ASX announcement dated 2 September 2015) that the University of Adelaide had conducted a series of three different tests using raw Sugarloaf graphite, including wheat plant trials, to principally examine plant growth, plant nutrient uptake and soil acidity/pH impacts. The first round of findings favoured its optimal use as a soil conditioner and soil remediation agent.
About Campoona
Tests have shown that Central Campoona contains a similar high purity, graphite suitable for lithium-ion battery anodes as found at Campoona Shaft. This graphite has been shown to perform at equivalent or better levels than commercially available synthetic graphite for lithium-ion batteries. Additional testing will look to further improve the anode performance through spheridisation of Campoona's graphite.
Next Steps
Upon the grant of the tenement, Archer will model and review the existing geological information to determine a revised Exploration Target for Sugarloaf and to identify any extensions to Central Campoona.
To view all figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-903621.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.
Mr Greg English, Chairman
Tel: (08) 8272 3288
Mr Gerard Anderson, Managing Director
Tel: (08) 8272 3288