Archer Exploration Limited: Quarterly Activities Report March 2016
02.05.2016 | ABN Newswire
Adelaide, Australia - Archer Exploration Ltd. (ASX:AXE) are pleased to provide the Company's Quarterly Activities Report for March 2016.MARCH 2016 QUARTER HIGHLIGHTS
Graphite
- Campoona Mining Lease Proposal amended to include small-scale start-up operation to allow for product accreditation phase and the incorporation of the production of graphene
- MLP available for lodging May 2016
- Archer agreed to the Terms and Conditions for the grant of an Exploration Licence covering ELA 2015/00215 Cockabidnie which covers extensions to Central Campoona graphite deposit and Sugarloaf carbon deposit.
- LIB battery test program completed awaiting reporting
Graphene
- 240 grams of >99.9% graphene prepared to supply samples to prospective customers. The pure graphene has outstanding electrical properties making the graphene ideal for use in high-tech applications including supercapacitors.
- Archer is in discussions aimed at commencing near-term scaled graphene production
Leigh Creek Magnesite
- Discussions continued with third parties regarding access to infrastructure required for the development of the Leigh Creek Magnesite project.
- A JORC 2012 Mineral Resource was announced for the Mount Hutton Central Project Area in April.
Corporate
- Experienced magnesia professional Paul Rix appointed to the Archer Board as a non-Executive Director.
- Resignation of Managing Director.
Financial
- Archer successful in its application for participation in the Federal Government's Exploration and Development Incentive Scheme.
- Cash in bank on 31st March 2016 of $0.531 million.
To view the complete report, please visit:
http://abnnewswire.net/lnk/308868MT
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: +61-8-8272-3288
Mr Gerard Anderson, Managing Director
Archer Exploration Ltd.
Tel: +61-8-8272-3288