Archer Exploration Limited Outstanding High Grade Graphite Intercepts at Campoona
27.08.2012 | ABN Newswire
08:53 AEST Aug 27, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Archer Exploration Limited's (ASX:AXE) resource drilling at Campoona Shaft has been completed resulting in a nominal 50m x 20m grid coverage to depths of 80-100m. The Company's 100% owned Campoona Graphite Project is located approximately 12km north of the township of Cleve on Eyre Peninsula, South Australia.
Assays are outstanding for three diamond drill holes with results expected in next three weeks.
Results for three of the six diamond drill holes at Campoona Shaft have been received Significant results include:
- 81.4m @ 16.1%TGC from 25m in hole CSDD12_003
including 16.4m @ 21.3%TGC from 90m
- 98m @ 13.3%TGC from 17m in hole CSDD12_004
- 46m @ 12.6%TGC from 28m in hole CSDD12_005 All assays from the recent RC
Resource drilling program at Campoona Shaft have been received. Significant results include:
- 56m @ 10.9%TGC from 47m in hole CSRC12_058
- 64m @ 11.8 %TGC from 54m in hole CSRC12_041
Results for the remaining three diamond drill holes are expected within the next three weeks.
Detailed geological logging has identified four main geological domains. Metallurgical test work of the domains will be undertaken to ascribe product types and grades per domain.
All Resource drilling at Campoona Shaft has been completed with JORC Resource estimation expected in Q4 calendar 2012.
Detailed geological logging has identified four main geological domains - main zone oxide, main zone transition, shaft area and footwall zone. The domains are primarily ascribed on the extent of weathering and disposition of the graphite. Once all assays have been received sampling for metallurgical test work of the domains will be undertaken to ascribe product types and grades per domain. This information will then be used finalise the JORC Resource estimate which is expected to be completed in Q4 calendar 2012.
Diamond drill and RC drill results continue to confirm observations regarding the thickness and grade of the graphite mineralisation.
For the full announcement including tables and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-188984.pdf
About Archer Exploration Limited:
Archer Exploration Limited (ASX:AXE) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.
The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.
The company's flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.
Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.
Contact:
Archer Exploration Limited
T: +61-8-8272-3288
WWW: www.archerexploration.com.au